Today's episode talks about the changing state of the Subscription Economy and the future of recurring revenue for nonprofits and businesses.
Dave and Carly dive into the ups and downs of subscriptions over the past couple of years. Subscription businesses have grown five times faster than traditional businesses over the past 10 years. Research shows that the average American had 6.7 subscriptions in 2022, up from 4.2 in 2019.
But it’s not all roses. Some mature subscription services are struggling to add new users. Other subscriptions are finding it difficult to retain customers without a “forever promise.”
Let's talk about the future of subscriptions and how they affect both businesses and non-profit organizations.
Topics we cover:
What is your forever promise? Making sure you are providing ongoing value.
How businesses will continue to experiment with subscriptions in 2023.
Concerns with so many companies creating subscriptions.
How subscriptions and recurring revenue can positively impact non-profits.
Examining the role that recurring revenue plays in your organization.
We hope you enjoy our conversation!
Season 2 of the Purpose and Profit Podcast is brought to you by:
NextAfter
NextAfter is an online fundraising research lab decoding what works in fundraising and creating free resources from their library of 4,600+ online fundraising experiments. You can learn more at www.nextafter.com.
Masterworks
Masterworks is a full-service marketing and fundraising agency dedicated to helping you achieve your mission. Learn more about Masterworks at www.masterworks.agency.
Imago Consulting
Imago Consulting is an advisory firm that helps businesses and nonprofits create growth by accelerating sustainable innovation. You can find out more at www.imago.consulting.
Special thanks to editor and sound engineer Barry R. Hill and producer Jenna Owens.
