Subscription billing vs. Single Report Payment- Who wins?
Recent researches have established that subscription models are 200% more profitable for enterprises as compared to a one-time payment model. With subscriptions, research companies can ensure greater efficiency and get their clients to associate with their reports better and receive a higher remuneration. Nearly 70% of businesses believe that acquiring a new customer base is relatively more expensive than retaining their existing clients, therefore with a subscription model, businesses can continue to make money from users after acquiring them.
Instead of paying expensive bills for every purchase, consumers prefer the lower upfront expenses which are now possible with buying reports through a subscription. What’s more, monthly or other periodic payments are often provided to the clients at a discount, which enhances the overall satisfaction. The Subscription Model provides better user experience ensuring up-to-date reports. While a subscription model encompasses a wide range of benefits, businesses should evaluate the pros and cons of the model before implementing it.