This is just the beginning, after the impressive success in North America in recent years, the subscription economy is now also affecting Europe as a megatrend. The figures of the subscription management provided by our partner billwerk show that the sale of digital and physical subscription products is also becoming an expansive growth trend in Germany.
Who nowadays is not a user of Netflix, Spotify, Amazon or Adobe? Majority of people might say they have at least one subscription plan, right? And so they are participating in the subscription economy; from makeup samples, ready-to-make meals, baby clothes to softwares, cinema passes, music or books among others. However, can subscription model bring the same value to B2B brands? Subscription services are the future for B2B, according to Bob Moore, head of business intelligence at commerce platform Magento. The B2B e-commerce market is expected to reach $6.7 trillion by 2020 and can earn a portion of this potential income by learning from leading B2C brands in the subscription model. From marketing and consulting services, to managed IT and technology sales, E-commerce or legal services it seems subscriptions are here to stay.
In order for subscription business models to pay off economically, a number of infrastructural and organizational requirements need to be done. For example, having a subscription management platform allowing you to pilot all the customers with one single tool.
In this sense, billwerk is the subscription management platform leader in Germany who provides companies with a small but essential component of the subscription economics. The SaaS platform reliably automates all core processes related to the administration, billing and payment of recurring business models.
“Just as no one today develops their own CRM system or their own accounting system, we are now in a similar situation with subscription management,“explains Ricco Deutscher, CEO of billwerk.
All billwerk’s expertise, know-how and tips that will help you grow your business and master the subscription challenge are shared in this whitepaper, so don’t skip it! Find out the main facts and takeaways regarding industries, business models and recurring payments that are driving the growth of the subscription economy.