{"id":75,"date":"2023-05-02T12:59:27","date_gmt":"2023-05-02T04:59:27","guid":{"rendered":"https:\/\/curlec.com\/?p=15424"},"modified":"2023-05-18T10:46:16","modified_gmt":"2023-05-18T02:46:16","slug":"subscription-business-model-providing-consistent-revenue","status":"publish","type":"post","link":"https:\/\/curlec.blog.razorpay.in\/blog\/guides\/subscription-business-model-providing-consistent-revenue\/","title":{"rendered":"Subscription Business Model: How It Can Provide Consistent Revenue"},"content":{"rendered":"\t\t
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Picture this: you\u2019re scrolling through your Instagram feed and you come across an ad. It\u2019s for a streaming service with the latest series or a monthly box with curated products. Sounds intriguing? Well, that\u2019s just the tip of the iceberg that is subscriptions.<\/span><\/p>

In Malaysia, <\/span>the subscription business model is gaining momentum<\/span><\/a>, capturing the attention of savvy consumers who seek for more than what they are looking for. Therefore, we\u2019ll look at how it is shaping consumer behaviour and ultimately providing consistent revenue.<\/span><\/p>

How has consumer behaviour evolved?<\/b><\/p>

The e-commerce landscape is not what it used to be. <\/span>Payment methods have expanded<\/span><\/a> along with the rise of subscriptions. 37% of consumers worldwide have at least one ongoing subscription. <\/span>By 2025, that number is expected to reach 53%<\/span><\/a>. How is it gaining traction? By providing a curated experience and a sense of novelty. Whether it\u2019s a physical product or a service, satisfied customers would subscribe in comparison to a one-off purchase. Think about it, less time-consuming and fuss-free to purchase groceries, watch the latest hit show, and more? An absolute dream for consumers these days.<\/span><\/p>

Furthermore, consumer preference has shifted from ownership to usership. It\u2019s no longer \u201cmine, mine, mine!\u201d. Now, it\u2019s about a more savvy approach to consumption which is <\/span>convenience, saving cost, and variety<\/span><\/a>. You don\u2019t see many (or any) <\/span>DVD sellers <\/span><\/i>as streaming services such as Netflix, HBO GO, and Apple TV+ emerge. Physical Blu-ray discs are no longer in demand. Why hoard when you can subscribe to a streaming service? It\u2019s like having a library of goodies without the burden of ownership.<\/span><\/p>

Now, how can businesses benefit from this?\u00a0<\/b><\/p>

So we know that the rise of subscriptions has shifted consumer behaviour but how do businesses benefit from it? The straightforward answer is: consistent revenue. The subscription business model done right can provide predictable and recurring revenue streams. Not only that, it can also build a loyal customer base and improve customer retention rates. This is especially relevant for businesses that offer products or services that customers use on a regular basis.\u00a0<\/span><\/p>

Additionally, subscription models can also provide valuable data insights such as customer preferences and buying behaviour. This can help with refining products or services to better meet their customer needs. There is undoubtedly a market for subscription models in Malaysia and let\u2019s face it, who wouldn\u2019t want predictable income and a loyal customer base?<\/span><\/p>

The importance of efficient payments collection<\/b><\/p>

We know companies love subscriptions because they provide predictable cash flow, however, we need to understand the importance of payment collections as well. Customer experience is key to retaining customers – your products or services can be very well amazing but having to input payment details each time is uninviting. Enter <\/span>Curlec\u2019s robust payments collection solution<\/span><\/a> to ensure that both businesses and customers enjoy the convenience that comes with seamless recurring payments.<\/span><\/p>

Whether direct debit or credit\/debit cards, recurring payment is made completely fuss-free. Plus, businesses can ensure payments are collected on time, every time – maintaining steady cash flow. This is specifically important as it allows businesses to forecast revenue more accurately and plan for future growth. If you\u2019re a subscription-based business who would like to explore our services to improve your payment processes and revenue stream, click the button below!<\/span><\/p>

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Picture this: you\u2019re scrolling through your Instagram feed and you come across an ad. It\u2019s for a streaming service with the latest series or a monthly box with curated products. Sounds intriguing? Well, that\u2019s just the tip of the iceberg that is subscriptions. In Malaysia, the subscription business model is gaining momentum, capturing the attention […]<\/p>\n","protected":false},"author":16,"featured_media":15441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5,27],"tags":[],"class_list":["post-75","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-guides","category-industry-insights"],"yoast_head":"\nSubscription Business Model: Providing Consistent Revenue<\/title>\n<meta name=\"description\" content=\"Discover how the subscription business model can provide consistent revenue and learn why your payment collection methods are crucial.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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