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Webinar (CA): Converting to a Subscription-Based Business Model

Description

The barber, blacksmith, butcher, baker and candlestick maker used to have an intimate knowledge their customers. This tacit knowledge got lost in the Industrial Revolution. It is now coming back. The world is moving from products and services to subscriptions, favoring access and transformations over ownership and deliverables. McKinsey reports that the subscription ecommerce market has grown by more than 100% per year for past five years. Further, subscription-based companies are growing eight times faster than the S&P 500 Index (17.6% vs. 2.2%), and five times faster than US retail sales (17.6% vs. 3.6%). The advantages to a subscription model are many, including: predictable revenue; collective knowledge of your customers; one-to-one marketing; forecasting for demand and planning more effectively; and breaking down silos and creating a true “one-firm” model.

Learning Objectives

• Identify strategies utilized by businesses that have made the transition to a subscription-based model
• An in-depth exploration of the nine types of subscription business models
• The psychology of selling subscriptions
• How to develop new metrics and accounting information to represent the economics of a subscription business

Major Topics

• The three types of adoption approaches to creating a subscriber base
• Five approaches to value nurturing—that is, what happens after the sale to help customers achieve success and realize value
• Ten best practices to reduce churn (i.e., losing subscribers)
• Essential growth strategies to deploy

Provider
California CPA Education Foundation
Course Level
Basic
CPE Field of Study
Business Management and Organization
4
Who Should Attend

CPAs, accountants and financial professionals.

Instructor(s)
Ronald Baker Daniel Morris
Prerequisites

None

Advanced Preparation

This webinar is produced by AICPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Location
Webinar
Event Information
When
Jun 9, 2021
9:00 am - 12:30 pm MDT
Location
Webinar
Total CPE Credits
4
Format
Webinar

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Webinar (CA): Converting to a Subscription-Based Business Model


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