The subscription economy is firing on all cylinders and across all verticals. However, an avalanche of subscription offers turns up the competition for audience attention. Content companies must find innovative ways to drive customer connection and conversion to rise above the noise.
The stakes are high and so are the profits. The 2021 Subscription Economy Index published by subscription technology platform Zuora, reveals an impressive 21% uptick in subscription revenue growth in Q4 2020 alone compared to the previous quarter. That’s yet another data point in a growth trajectory that has seen subscription revenues increase 6x over the last nine years.
But cashing in on the boom requires publishers to embrace flexibility and customer convenience, even for cancellations. It’s not enough to build the capabilities to sell as a one-time transaction to readers. Publishers must reach potential subscribers in the right context, and at the right stage of the customer journey, to reinforce the decision to commit to recurring costs.
Read the full article on Digital Content Next.