This guest blog has been provided by Jeremy Zielie of straightnorth.com. Thank you Jeremy for your insight.
Recurring revenue streams can help strengthen customer loyalty and increase profit at your business. A report found that all new software entrants and 80% of historical vendors are offering a subscription-based pricing model. While some industries may be better suited toward recurring revenue like SaaS, there are still ways to create a recurring revenue model for physical products. For example, organizations can offer a membership-based program for exclusive products or create a subscription box for loyal customers. If you are interested in learning a few more recurring revenue ideas, check out the accompanying resource below.
Infographic created by Clover Connect