The shift by customers from buying products towards subscribing to services will continue in a rapid rate in 2017. It becomes relevant in nearly every industry, owning becomes using.
From a company point of view it will require a shift towards recurring revenue subscriptions. This not only by changing the pricing and call it a service, but by thinking form the perspective of the customer. The B2B market will change more and more towards the way we as a customer act in the B2C market. More personalised, relevant and environment aware services, with real-time experience and interaction, like immediately fulfilment.
Side effect for businesses is that customers easily can switch service provider. Therefor companies must present there customers continuos added value and expected service level, so the customers remain loyal to your services. Nurturing an ongoing and genuine relationship with your customers should become your business nature.
Elements like enabling, upgrade, downgrade, renew and otherwise modify subscriptions should become part of the operations and management of recurring billing, payment, revenue and metrics.
The information and behaviour of the customers will continuously ask adaptation of the customer journey model and the way we interact with and serve the customers. The customer journey must not only reflect the customer on boarding, but manage the complete journey with upgrades, add-ons and all interactions to and from the customer. Everything within the company and every department is customer centric and focusses on the customer relationship and is evolving continuos to the needs of customers. This customer centricity approach will lead to new metrics and KPI’s to measure your customers health and thus business health.
Transformation of the within the company used technologies is required, like customer relationship management (CRM), enterprise resource planning (ERP), customer service & support, accounting and supply chain systems.
The transformation from owning towards using products by customers requires that companies build a collective intelligence which continuously is refreshed. So subscribe now!