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The shift to a subscription model has long been predicted, and business disruptions are only accelerating timelines. It is critical to monetize the service organization through advanced data-as-a-service capabilities. Also known as servitization, subscription-model relationships build a stronger bond with customers than do purely transactional models.
On top of providing a wealth of data, this level of customer intimacy allows for a deeper understanding of how your customer perceives value. The ability to analyze and act on this information is the competitive differentiator for companies in a subscription-based world.
Moving to a subscription relationship shifts customers from transactional interactions that depend on uneven capital spending to steady and predictable revenue. It provides the opportunity to let data drive the best way to engage with customers.
B2B companies need to focus on two servitization pillars: customers and data. Learn how empowering customer service to engage with clients and data-driven success strategies will provide new avenues for revenue and growth in Subscription models need a data mindset.
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