Subscription services are becoming increasingly popular as businesses strive for predictable recurring revenue streams to drive customer engagement. But, as these service provider offerings mature and competition increases, so too does the need for businesses to differentiate through innovative pricing and product packaging.
Business customers, in particular, will typically want to negotiate a better price for any solution or service they are consuming and will invariably look for these to be tailored to their needs in some way. So, understanding its customer segments, and having a flexible way of pricing products and services, is crucial for any organisation in being able to effectively address its customers’ needs.
It’s all about offering customers flexibility – different kinds of business will benefit from different pricing models, and what works for a consumer video service probably won’t be suitable for an enterprise software…
Taking a cue from the communications marketplace concerning customer touch and service personalization, businesses in every industry are improving the experience of their customers. They are doing this by placing mobility services into existing product lines, and by offering what were once considered “products” as subscription-based services. While the former remains an essential element of the long-term evolution strategy for most companies, it is the latter - products delivered as subscription-based services - that are making headlines.
Within the transportation industry, for example, the traditional automobile purchase has evolved to leasing plans, car rentals, and most recently, Transportation-as-a-Service (TaaS) - an on-demand, by-the-minute service, for meeting short…
The subscription business model is going from strength to strength as companies evolve from selling products to becoming ‘as-as-service’ providers. It is a process that has the potential to transform your entire organisation - whether you are an established company looking to rapidly launch new services or solutions, or a new start-up, eager to develop an agile and flexible customer engagement strategy.
But moving to a subscriptions-based model can also bring challenges, and no matter how creative and innovative your business is, you can find yourself held back by a seemingly straightforward back office process - your billing.
Driver of Business Agility in the New Service-based Economy
A recent survey run by Cerillion, polling the views of more than 200 senior IT professionals in the UK across a broad range of industry verticals revealed that more than half of all businesses today (53%) are still using either an in-house-developed system or manual processes to bill their customers.
At the same time, the results highlighted a clear shift in the way products and services are sold: away from traditional one-off product sales towards a more flexible pricing model based on subscriptions and usage. This shift was highlighted…
The goal of this Telesperience research programme was to discover how small, medium-sized and rising telcos (SMARTs) felt about the customer experience they provided, as well as to provide a snapshot of their goals, expectations and current strategies. In this datasheet we present the findings from this research, including unique insights into the role the customer experience plays in the competitive strategies of SMARTs.
Key findings from this research include:
In the initial stages of the ‘New Telecoms’ boom when new technologies and deregulation were side-by-side changing the landscape the focus of most Communications Services Providers (CSPs) was on developing market share. This dynamic growth led to many CSPs developing complex system stacks which were developed in order to provide services to a broad base of customers and markets.
Over the last few years the industry has matured, both from a technical perspective and also from a business view. No longer is it sufficient to acquire customers at any cost, now the focus is on delivering the right services in an efficient…