Morten Stald is a Senior Partner at Subscrybe, the leading Scandinavian consultancy specializing in subscription. In this article, Morten shares why he thinks you need to update your subs management system, what you should do before moving forward and what you need to consider when selecting the replacement solution.
We live in a digital age. Regardless of the type of subscription you offer, you likely have numerous digital interactions with your customers. This places high demands on the system infrastructure that supports your subscription business. At the heart of that infrastructure is a ‘subscription management system‘ which essentially handles the management of your subscribers, pricing, and subscription plans, ensuring that customers are charged the right amount – every time.
But, as a media professional, you already know that. However, do you know what is expected of your media business in the near future?
We keep a close eye on what subscribers like and don’t like. And we know for a fact that subscribers are harder to satisfy than transactional customers. After all, you need a good reason for charging them every month – and you need to deliver more and more value each month, in order for them to stay.
This is why we are currently helping Nordic media companies choose the best new subscription management system for their needs. And, if you didn’t already do it, we strongly encourage you to consider it as well. Because a new media reality is here. One, where your digital capabilities must be second-to-none, if you want to retain your readers over time. As print circulation slowly declines, media companies must prepare for delivering the most value in a new digital arena. And that is hard to do, without strategic IT investments.
