Many established and start-up companies are considering moving all or parts of their business to a subscription model. And we completely understand why. However, for businesses that are used to thinking in terms of single transactions, shifting to a subscription mindset can be challenging without external support.
At Subscrybe, we’re here to help with this transition, a process we call Subscription Innovation. Subscription innovation is fundamentally about two things: first, identifying the right subscription business model for your company, and second, understanding and optimizing the mechanisms that drive your specific subscription business.
Key Activities & Deliverables
When your company embark on a subscription innovation journey, we typically follow a three-phase model: Blueprint, Construction, and Operation & Optimization. Subscrybe can support you throughout the entire process, but we can also tailor a process where we are involved in specific phases based on your needs.
The blueprint analogy comes from the construction industry and is meant to illustrate that we are drawing the blueprints for the subscription business that we will build. The Blueprint phase has three main deliverables that together support the assessment of a future subscription concept.
Development of new subscription concept
We base our approach on insights from your business, external inspiration, and our expertise in loyalty thinking. The goal of having the first version of the concept ready quickly is to make the work tangible and provide a solid foundation to build upon.
Proof-of-Concept
The next step is to test the concept with existing and/or potential customers. We will incorporate the feedback from the test when evaluating and refining the final concept.
Proof-of-Business
If the concept performs well in the market, we also need to ensure that it works within the business. Therefore, we conduct calculations for the upcoming subscription business using our business case tool, allowing us to estimate the key subscription KPIs. We also provide an initial estimate of the investment required to successfully bring the innovation to market.
In the construction phase, the "building process" begins. The size and duration of the construction phase largely depend on the resources available within your company and the extent of the changes from a development perspective.
Mobilization
First, we mobilize the necessary resources to successfully complete the project. At the same time, the project must be estimated up to the first launch, allowing us to assess the required investment.
Development
Once mobilization is in place, the actual development work begins. The scope of the development process naturally depends on the project's overall framework. However, it typically involves building user journeys within Sign-up, Onboarding, Retention processes, Emergency Retention, and Win-back.
Organizational integration and go-to-market
Additionally, a go-to-market plan must be developed, and integration across the organization must be ensured.
Once the new service is live, there is typically a period where we pay close attention to how everything is functioning. This is the time to address any initial issues and ensure that everything runs smoothly. At the same time, there is an ongoing transition from the project organization to the operational organization. It is also crucial to identify and prioritize areas for improvement and optimization in the coming period.
Results & Customer Value
When Subscrybe leads the innovation process all the way until the new subscription concept is launched, we ensure a valuable process where we cover all aspects and engage in the right discussions and decisions along the way. We leverage our subscription insights and expertise from numerous successful subscription innovations to ensure a successful outcome.
But we don’t stop at the good idea. In the construction phase, in addition to providing strategic guidance throughout, we take responsibility for supporting and assisting where your business may lack expertise. This typically involves areas such as UX, subscriber journeys, business rules, communication, systems, data, reporting, or similar. Everything that ensures that a great concept also becomes a success in the market.
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Note: Our podcast, Subscription Talks, is in Danish.
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