Today successful companies start with the customer.
That’s digital transformation: from linear transactional channels to a circular, dynamic relationship with your subscriber.
Companies that know what their customers want, and how they want it, will succeed over companies that spend a lot of time and effort creating a product they think is a good idea, then spend equal amounts of time and effort trying to persuade people to buy it.
This shift, from a product-centric to a customer-centric organizational mindset, is a defining characteristic of the Subscription Economy. Today the whole world runs “as a service”: transportation, education, media, health care, connected devices, retail, industry. Subscriptions themselves, of course, aren’t new. The most basic definition of a subscription is simply a piece of writing beneath a document (subscript): a name, a note, an addendum. When two parties are involved, that constitutes a mutual agreement, an accord, a relationship. As a business model, subscriptions have been keeping journalists, authors, illustrators, historians, and cartographers paid for hundreds of years. Subscriptions also sold a lot of bad CDs in the eighties.