Throughout the COVID-19 pandemic, 96 million new subscriptions were created in the US. As people spend more time at home, streaming services and meal kit delivery subscriptions have seen a massive increase.
Reducing existing subscriber churn is as important as on-boarding new customers. Each new customer comes at a cost, and generally it’s much cheaper to keep existing customers than to onboard new ones.
The Traditional Build vs. Buy Dichotomy Historically, there have been two options for subscription-based businesses when it comes to setting up billing platform – build your own, or procure an off the shelf software solution from a vendor.