Manage episode 350528517 series 3349708
Netflix really got it right when they opted for a subscription-based business.
The great thing about subscription is you get a monthly recurring revenue, so you can spend your time delivering extra value to your customers knowing that the payment side of things is already taken care of.
It’s how I price my Academies so that I can continue to deliver more and more value to the members without having to review the prices all the time, or have a difficult pricing conversation for each service.
The world is moving from products and services to subscriptions, favoring access and transformations over ownership and deliverables.
There are so many advantages of a subscription model to you. Not least, predictable revenue and a higher value firm at exit.
For the customer, it provides peace of mind, convenience, recurring value, and a frictionless experience.
In this episode I’ll be talking with Ron Baker, founder of VeraSage Institute, and author of Time’s Up!: The Subscription Business Model for Professional Firms, for a thought-provoking session on why and how the subscription business model will be the firm of the future.
The latest episode of the Value Pricing Podcast is now available: How to Move Your Accounting Firm to Subscription with Ron Baker
In today’s episode you will learn:
✅ The advantages of a subscription model to your firm, including how you can get a competitive advantage through collective knowledge of your customers
✅ Plussing your offering — only uncommon services command premium pricing
✅ The Revenue Question: What are you asking your customers to pay for?
✅ Your value is greater than the sum of scope of services
✅ The three strategies to pivot to the subscription business model
You can find Ron's new book 'Times Up! The Subscription Business Model for Professional Firms' here: https://www.thesoulofenterprise.com/timesup