Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about the subscription based model of customer loyalty.
Of course everyone knows about Amazon Prime, where for $119 a year you can get free 2-day delivery Plus access to their video content as well as Amazon music, but will it work in every business?
Over the past five years, the subscription market has grown by more than 100% every year, with the largest retailers generating more than $2.6 billion in sales. Startups continue to pop up in every category, from the meal kits, razors, to beer and wine, kid stuff, video games, vitamins and just about every other category you can think of.
“Subscription models are what enable this customer choice, because it’s an ongoing relationship,” says Emma Clark, chief of staff at Recurly… She continues... “We see this evolution going from one-time purchases moving further into a long-term connection with your customer through their purchasing habits and creating an ongoing revenue stream.”
To learn more of what Emma Clark had to say on this subject, and other great customer loyalty insights, please visit theloyaltyminute.com Enjoy!
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