Subscription models are booming in the loyalty economy, with 6x growth in the last nine years. Consumers are offered convenience, discounts, exclusive products, and services, while brands gain a consistent revenue stream, customer loyalty, and digital engagement. Building a subscription model involves four stages: ideation, planning, validation, and evolution. To win, loyalty initiatives must switch from siloed approaches to connected offerings, with loyalty ecosystems connecting brands through a central web. To maintain success and avoid subscription fatigue, brands must focus on delivering value to their customers.
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BLOG By: Nicole Shahid | January 25, 2023 “Economy” and “booming” aren’t two words you would expect to see scrawled next to each other in recent headlines. But when it comes to the loyalty subscription economy, it is in fact booming. There is a subscription service for every consumer need and want—from Netflix and HelloFresh to Ipsy and Coursera Plus. Fueled by rapid adoption from younger generations, subscription models have found 6x growth in the last nine years. As Epsilon Senior Director of Strategic Consulting Lauren Wawrzyniak puts it, “subscriptions come back to convenience and predictability. Younger generations and consumers alike
Extending loyalty through subscriptions and ecosystems was originally published on EPS US – Blog