Everywhere I turn lately I’m running into subscriptions and membership programs:
- Quicken now requires a subscription in order to pay bills through their platform.
- My vet offers an annual membership that covers unlimited visits.
- Newspapers are relying more on subscription to be able to read online articles => Apple News includes top articles in its listing, a portion of them require a subscription to read. While newspaper subscriptions aren’t anything new, new subscriptions send only “air” — no actual paper.
- DoorDash offers unlimited free delivery for a monthly subscription price.
- And, at my suggestion, my landscaper now offers an annual membership plan which includes lawn care + fall clean-up and a few other items and has spread his income out over 12 months instead of 7.
If you’re not considering a membership or subscription program as part of your business model, I have to ask… why not? They’re leveraged, they help to even out revenue, they keep you front and center with your best clients and so much more.
That said, you don’t want to take on a membership/subscription program before you have regular revenue and other systems/processes in place. As great as a membership program can be, it’s only if you actually have members.