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How to improve the renewal rate of your subscription business
Subscriptions are becoming increasingly popular in our everyday lives. But developing a successful subscription model is complex. What problem does it solve? How can it hold up against the competition? How much should customers pay for the service? With the renewal rate or retention rate, you can understand your customers and their needs even better. And you ensure that your subscription offers added value every time they use it.
Track your metrics. Measure your success.
Subscriptions are all around us. Nowadays, you can create your entire lifestyle around subscriptions. Nearly every product category is available as a monthly service. Traditional products are converted into subscriptions, while completely new ones are being created. If you want to enter the subscription market, you’ve made the right decision. Using this business model creates consistent revenue and helps you receive feedback faster from your customers.