From Netflix to Blue Apron in the consumer space, to Rolls Royce selling power by the hour or Xerox with their pay-per-copy model in the B2B industry, subscription is truly the business model of the future. There is one thing that these companies share as they move to this type of model – they are all digitally native or undergoing digital transformation. Indeed, software and technology are the critical enablers that allow companies to connect and monitor their products or deploy user-friendly interfaces for subscribing to digital goods or services.
Companies across all industries are embracing the subscription model as a way to become more agile in their operations and to keep up with the speed of the digital world. The end-goal is to become closer to their customers to form deep, lasting relationships and better meet their needs and adapt with the rate of change that has become the new normal.
These benefits to the customer are significant, which in turn drives success for the companies that operate through the subscription model.
Companies are having to make changes organizationally to support their move to subscription models. From simplifying their product packaging offerings, to back end systems, to re-organizing their customer-facing teams and creating new types of customer success roles. For companies shifting to subscription models, customer relationships have never been so critical and their shared commitment to success starts with building open and trusting relationships.
PTC partnered with industry expert Amy Konary, program vice president of SaaS, Business Models and Monetization, to dig into the sweeping trend of subscription business models in a recently recorded webinar. Amy explores the drivers of this trend, common benefits to customers of companies adopting this model, and talks with PTC’s Paul Lenfest, DVP, customer success and Chief Customer Officer to learn more about how PTC is adapting to renew and enhance its focus on customer success.