Customers have changed. They’re looking for new ways to engage with businesses. Consumers today have a new set of expectations. They want outcomes, not ownership. Customization, not generalization. Constant improvement, not planned obsolescence.
The result? Businesses are changing the way they sell their products and services. Over the past 9 years, we’ve seen an explosion of new types of business models all designed to keep customers consistently engaged in long-term relationships.
The Subscription Economy® is a phrase (coined by our CEO, Tien Tzuo) to describe this new era of companies and business models.
In the old world (let’s call it the Product Economy) it was all about things. Acquiring new customers, shipping commodities, billing for one-time transactions. But in this new era, it’s all about relationships. More and more customers are becoming subscribers because subscription experiences built around services meet consumers’ needs better than the static offerings or a single product.
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