With subscriptions, change is a certainty. When a customer signs up for your product or service, they aren’t looking at it as a one-time purchase. They are looking at it as a relationship—one that will change and grow over time.
In our work with 900+ subscription companies, there are on average, four changes for a subscription every single year. These include upgrades, add-ons, downgrades, and other changes throughout the lifecycle of a subscription. That number can be even higher depending on your business model.
Companies used to fear subscription changes. That’s because the order- to-revenue complexity of such changes are a burden on the finance team and slow to enact. However, companies that have built an order- to-revenue process designed around subscriptions find that the same daunting subscription changes are a massive channel for growth.
Here’s what we see after analyzing 90M subscriptions across 70M+ customer accounts – companies that allow their customers to make more changes to subscriptions grow faster. The easier you make this for your customers, the better it will be for your company.
In the Subscription Economy, growth comes from change.
Get this benchmark report for data and key findings that will help you understand:
- The impact of subscription changes on revenue growth
- How change orders work
- How to successfully manage change orders