Friday, April 28th, 2017
Why is Subscription Based Income Important for Business Growth
As a Business Owner, having a clear understanding of your numbers and their relationship to the health of your business is critical. For those of you who seek to have your business acquired at some point in the growth of your business, one of the most important metrics that investors are keeping an eye on is Customer Lifetime Value.
My absolute favorite type of income that helps to boost CLV is Subscription Based Income.
Just to be clear, 3 payments of $997 is a payment plan, not subscription based income.
The companies who are excellent at establishing lifetime value are Amazon.com, Apple, PetSmart. In music, No Limit Records and the Wu Tang Clan were the best at building an ecosystem about their products and services.
What are the Types of Subscription Based Income
Types of subscription based income that you should consider incorporating within your offers are:
The subscription model is great because it allows business owners to form a deeper relationships with your customer base. In my business, my one-time offers are decreasing because I excel in delivering end-to-end (complete) services, which is perfect for long-term arrangements.
***If you can guarantee results, you need to have a subscription model within your business.
The feature image for this post is for a new project I started at the beginning of April.
I will scale this venture to generate $100,000 per month by September 2018.
Shadeed’s Recommended Reading
Strengthen your understanding of increasing your passive income through subscription based income by adding the titles below to your library.
Additional Results Based Support
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