#Books that frame your thinking — Subscribed
Tien Tzuo (CEO of Zuora) recently wrote a book titled ‘Subscribed: Why the Subscription Model Will Be Your Company’s Future — and What to Do About It’. I finished this book, and found it to be a useful guide for the present and future of the subscription era.
The first part of the book talks entirely about changing business models worldwide, and takes a variety of use cases from diverse industries as examples. The second part talks of how a business can make the transformation to the subscription economy.
Some of the key takeaways:
1. The rise of IOT is inadvertently tied into a service based business model, because this would let businesses track the usage patterns, operating conditions and maintenance status of the products that’s used by their customers. (Taking a very crude example; a toaster-making company evolves from just selling toasters to analysing usage data and coming up with highly customised service plans catering to the need of an individual customer).
2. The entire sales/marketing funnel evolves from a linear buyer journey to a concentric model with the customer at the centre of it. Every key decision at every stage in every department is taken with the customer in mind first. As he stresses repeatedly in the book, it’s not about selling your stuff anymore, it’s about creating experiences for your user.
3. SaaS may have initiated this new era, but the variety of industries that is making the transformation to the subscription economy is really impressive. He takes examples like this to prove his point.
4. I think this book is a good example of content marketing done right. He is clearly an expert in the field, and leverages all that information to explain the transformation that is happening, and the need to implement the right solutions to sustain this change. This book can be a useful starting point for anyone to learn about the concept of the subscription economy and its effect on businesses worldwide.