Years ago, if you had a subscription for anything, it was most likely for a magazine, your TV/internet, or a gym. But nowadays, you could have a subscription for almost anything! A wine club, meal delivery service, kids educational materials, even dog toys and treats!
Subscriptions usually come in one of three forms:
- Access – access can be unlimited or limited. For example, a movie club might allow a certain number of downloads per day.
- Re-stock – for example, have your pet food ordered and delivered automatically on the same day each month.
- Acquisition – often curated related items with a particular theme, such as a gin club, featuring gin curated by top gin experts.
When did it all start?
I can’t recall exactly when I noticed the proliferation of subscription services, but I think it was around 4 years ago, when I needed a new laptop, but it wasn’t going to be compatible with my current version of Photoshop. Now, if you know anything about graphics software, you’ll know that it’s hella expensive. Eye-wateringly so!
So, I kept putting off the laptop upgrade until I literally couldn’t put it off any longer, simply because I thought it was the height of cheek to ask me to pay for something I already had and didn’t want to upgrade!
Ask me if I’m happy now, 16 months into a Photoshop subscription and the answer would be ‘mostly‘. Yeah, it stilll stings a bit, but overall, I’m happy with the service.
So, how did we go from having a few subscriptions to having more than we care to name? And why does it even matter?
Some advantages of the subscription model
- Value – one reason that subscription models have become so popular is that often (though not always), it is cheaper to commit to a regular acquisition of a particular product.
- Convenience – many subscriptions offer to deliver the item to your door, making it so much more convenient (and interesting) that driving into a congested town centre, parking up and then walking to the store.
- Improved efficiency – for items such as computer software, it isn’t necessarily cheaper to buy subscriptions, but it can improve efficiency, because you have access to new features. Such features may save you effort, plus, you save time buying new software.
- Guaranteed revenue – from a business point of view, a recurring revenue business model may provide garanteed income. This predictable income helps you plan accordingly, especially if you charge clients a notice period. Notice periods improve the accuracy of predictabing your cashflow.
Some advantages of the subscription model
- Set up costs – subscriptions sometimes require inventory storage, stock acquisition, product development, research, marketing and devlivery costs. It’s likely there are elements of these in your business already and it may be that you’re already considering the need to purchase IT infrastructure, modify buildings, hire staff etc.
- Some clients won’t like it – If you’ve built up your business on a particular business model, you may alienate some clients when switching strategies. You could ease the blow by having clients ‘warm up’ to the idea by offering incentives, such as price reduction for the initial set up/transfer of services.
How does this apply to my business?
You may have considered a subscription service already; you may have disc-counted the idea already, but this post exists really just to get you thinking about the idea.
If you were going to set up a subscription service, what would you create? I’d love to hear. If you’d like to, check out our hypnotherapy script subscription service, which is currently on offer at just £1 (about $1.50) per month.
Next steps
We offer a variety of services to hypnotherapists and hypnotherapy tutors, such as:
- Custom script writing and narration
- Custom graphic design
- Further training
Next steps
We offer hypnotherapy both online and face to face, as well as in your own home, if you’re a blue badge holder living within approx’ 10 miles of WF14 9ED.
To book, just send us your availability over the next 10 to 14 days and we’ll set up an initial consultation, to see how we can help you move on with your life:
- Use our online contact form.
- Via text/SMS to 07808 931714 if you’re inside the UK, or +44 7808 931714 if you’re outside the UK.
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About us
We are Hypnotic Universe (formerly Mirfield Hypnotherapy Centre) and we help you use the power of your own mind to achieve your goals, and live the life that you want.
Disclaimer
We do our best to provide suggestions based on our experience as hypnotherapists and using nationally recognised good quality health education material, such as that provided by the NHS (UK). Information contained on our site does not constitute medical advice and is not intended to replace medical advice. You should speak to your doctor about any health concerns that you have and before making any radical changes to your lifestyle and health and fitness goals, including your quest to reach those goals.
