Crawl Before You Run: Getting Started with Subscription Models
Even if you have not started yet, there is stillResearch for my upcoming “Industrial Subscription Economy” book reveals that many firms across manufacturing verticals and geographical regions have started with subscription models. Given that one-time transactions are fading, manufacturers are recognizing the need to transform and capture the growing profit potential of recurring business models. time to play in the digital space.
Over the past five years, the subscription economy has transformed many business sectors. Media, music, entertainment, and news are just a few examples of sectors that have flourished with new subscription business models and have grown through the recent COVID crisis.
But subscription models are not just for “those industries.” The B2B and industrial worlds are now starting to focus more and more on how they can leverage recurring business models and subscriptions in general—some notable examples include Caterpillar, John Deere, Hilti, Honeywell, GM, and 3M.
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