The post-modern world has entered an ‘as a service era, and subscription businesses are booming with each passing second.
Whether pet food deliveries, razor blades, or television streaming services that serve your regular shows, subscription-based business models can be found anywhere and everywhere.
The shift from moving away from buying services and products on an ‘as-needed’ basis to buying the former and the latter every month has become the new normal.
Many subscription-based businesses have claimed that this service has improved customer relationships and helped build trust between the two parties.
Since subscription businesses provide customers with access rather than ownership, the world of business opportunities has experienced rapid growth and provided new employment opportunities to individuals.
Many business owners have started utilizing this new business opportunity, and even employees have found themselves subscribing to this business model.
However, like other business models, subscription business relies heavily on recurring customer responses and demands for providing long-term value with consistent engagement from the customer’s side.
To reach such a level, subscription business owners need to understand their customers’ needs and expectations while modifying them every month.
Are you worried?
Here is a list of 5 successful subscription businesses that are facing the field and giving lots of inspiration!
Dollar Shave Club
Dollar Shave Club delivers male shaving razors to the customer’s doorstep every month.
They also sell items like hair gel and aftershave by providing only three popular razors in demand.
After successful payment for a subscription, Dollar Shave sends out a box containing blades, shaving products, and shampoos.
The company also offers its customers to have their boxes customized depending on their preferences.
Dollar Shave intentionally sticks to replenishment box subscriptions.
A replenishment box subscription means that instead of promising not to send the same items to their customers repeatedly, it restocks the customer’s preferences automatically through a schedule set by the customer.
Their marketing strategies are in line with the latest trends, and for a shaving company, Dollar Shave surely goes out of its way to advertise the $5 monthly recurring subscription for their product.
Moreover, loyal subscribers of Dollar Shave can also give each other free products, increasing brand transparency and awareness to the general public.
Dollar Shave Club, with over 2 million subscribers, stands up as an example for anyone looking to set up a subscription business.
Amazon’s supremacy over online business raises no eyebrows.
Almost everyone is well familiar with the U.S. tech giant as it proudly holds its position in the list of companies with one of the world’s largest subscription services.
Amazon Prime membership allows the customer to access Amazon’s movie and TV content.
Those who are active subscribers of Amazon Prime will know the huge benefits they enjoy.
Their ‘Subscribe and Save’ service allows customers to enjoy free shipping to one-day delivery services—all at the cost of a few bucks.
One of Amazon’s categories, Kindle Unlimited, has more than 3 million subscribers, which keeps increasing due to its up-to-date subscription services.
With over 200 million subscribers across the globe, Amazon makes sure that customers’ needs are dealt with efficiently.
Their contemporary marketing skills and constant focus on strengthening customer relationships have pushed the company ahead of its rivals.
Creating websites has only been easier once the world discovered Webflow.
This web-based drag-and-drop tool helps its subscribers build attractive, responsive, and flexible websites and apps to make their tasks easier and cheaper.
Unlike most companies, Webflow allows users to build their website for free until it is ready to launch.
This feature sets the user free from the fear of impending subscription payment, and they find themselves at the liberty of building their website without worrying about a specific timeframe.
However, if a user wants their website to go live, that’s when they will be expected to pay.
Webflow is a success in the subscription business because it has emancipated the user from having any prior UX and UI expertise for building an app or a website.
You can also design your templates and easy-to-read pay stubs with their paystub generator.
With their basic plan costing as cheap as $12, Webflow is gaining an overwhelming number of subscribers due to their up-to-the-minute subscription services.
The largest subscription company of the 21st century is Netflix.
As this debate remains undisputable, there are over 225 million Netflix subscribers worldwide.
Its incredible subscription services have pivoted its growth to an unprecedented level, and with offering movies and seasons in different languages, the rate is well expected to grow.
With the rapid inclination towards TVs with Netflix, their marketing campaigns identified this new development.
Almost every household in the U.S. and Canada has a TV with Netflix, so Netflix introduced ‘Netflix for Kids.’
Everything possible for a child’s entertainment, be it poems, movies, or educational programs, can be found in this section.
According to tech experts, Netflix’s library contains over 40% of original titles, which is the major reason for its popularity.
Very few companies recognize a societal problem and offer solutions, and even fewer come up with better solutions.
Talking about subscription businesses, ClassPass is an excellent example of a business that made people’s lives easier.
Offering a monthly-based subscription to more than 30,000 fitness studios, people are now turning to ClassPass for trying different gyms rather than confining themselves to only one.
Anyone from a scale of ‘gym junkie’ to ‘simple workout’ can access multiple fitness centers offering many gym classes.
Ranging from $15 to $199, anyone can avail of their services for a few dollars.
The world is changing, and so should your approach to your goals.
With thorough research and the right skills, anyone who is ambitious to upgrade their lifestyle and make people’s life easier can start their subscription business models, and who knows, the world might see the next Jeff Bezos!