Michael Moran Alterio is Subscription Insider’s staff writer focused on subscription business trends and research. He is a journalist and data analyst with over 20 years of experience with a keen sense for the story behind the spreadsheet.
A few weeks ago I wrote about the importance of effective customer service. But how do you know if you are delivering that? And what channels -- phone, email, chat, social media, etc. -- should you emphasize? How about innovations like chatbots, intelligent agents, and other automated systems?
Measuring customer service breaks down into two general areas: satisfaction metrics based on customer attitudes and performance metrics based on support staff behavior. …
Companies directly profiting from big data are now earning over $42 billion dollars worldwide. And that’s a lowball estimate. A subset of that revenue is going to companies that have made their data accessible to subscribers in exchange for a recurring payment.
Unless your company has a monopoly on what you offer, you probably survive amid competition. One key to keeping customers happily subscribing to your product: exceptional customer service.
With a potential subscription business market size of $35-plus billion -- and with a history of solid growth that experts forecast to continue -- there’s every reason to look for success in an America filled with fitness fans.
Today, artificial intelligence generates $7.3 billion in direct revenue, and drives $1.2 billion in related business. That is only going to grow ... maybe tenfold by 2025. And while we’ve all heard about the implications for a robot apocalypse, the reality is that AI is being used right now by financial firms to decrease both fraud and customer loss through card declines.
As a mature market full of established business owners, the car wash industry has only lately moved to subscription offerings. However, as operators learn that their fears in offering unlimited service are mostly unfounded, many are embracing a new way to monetize customers.
In the growing, $45 billion U.S. organic food market, some consumers are going beyond the organic label to seek a subscription relationship with the 7,000-plus local food growers offering clear chain-of-custody practices, so that foodies know where their produce comes from.
The entertainment industry has been complaining for years about its staggering losses due to piracy. However, even as the video, game, and music industries have evolved toward subscription and streaming business models, they continue to generate significant profits. Media firms still say that rampant thievery is costing them billions -- over $50 billion in 2017! Where’s the resolution to this conundrum?
LinkedIn, Slack, DropBox, Pandora, Spotify, and just about every mobile video game are generating revenue despite a business model that includes most of their customers using their services for free. Clever developers and content producers have learned that attracting A LOT OF customers can be as important as attracting PAYING customers. And the most clever are finding innovative ways to derive real value from the users who pay nothing at all.
Ad revenue for newspapers has been falling for years, but the migration of ad dollars, especially to Facebook and Google, are pushing news orgs away from ad-based revenue models.