As the axiom states, as technology evolves, so too does the consumer relationship. This phenomenon compounded with the fact that consumers have become hyper-conscious of their physical relationship with brands.
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.
Subscription businesses have been on the rise as traditional brick and mortar businesses look for different ways to reach their customers. Specifically, businesses that traditionally had no online presence.
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.