How niche research firms can use technology to successfully shift from a transactional model to recurring revenues
The pandemic has highlighted that market intelligence providers cannot depend on advertising or selling one-off reports and data to disparate customers. There is a huge opportunity to drive subscription revenue and become a profitable subscriber-first business. This will also help to future-proof publishers’ income and make them less reliant on more fickle revenue sources.
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Digital technology drives subscription services
Digital services of today – regardless of whether they’re online banking, shopping, or ordering a taxi – offer flexibility, convenience, and above all ease of use.
The result of this change is that end users now expect similar levels of service from all their digital providers – including research firms.
They want information that’s easy to discover, easy to access, then just as easy to use – and publishers that embrace this new requirement will lead the market and prosper.
Becoming a subscriber-first market analysis provider – How niche research firms can use technology to successfully shift from a transactional model to recurring revenues examines the ways technology can empower market intelligence providers by helping them develop subscription services that, in turn, enable end-users to maximise their use of the publisher’s research information and data.
In addition, this will help those who already offer digital subscription services to add finesse by optimising operations and maximising the quality of service they offer to end users.
By reading this whitepaper you will be better able to better consider how to:
- Use technology to offer compelling subscription packages.
- Lower risks of revenue loss through IP breaches.
- Develop compelling end-user experiences to generate engagement.
- Put usage data at the heart of the customer relationship.
The subscription economy effect
Why moving to a subscription model helps niche research firms fix costs and remove revenue fluctuation
Fixed costs equals fewer financial worries
Know your income and build on it
How licencing technology helps research firms evolve commercial models
Developing account journeys
Not just all you can eat
Upgrades and multiple users
Building on trust
Using licensing to drive adoption and sales
Reducing revenue risks by protecting your content
Staff churn and retained access
Mass downloading (and sharing)
Content usage alerts
How end-user tools are critical to the success of a research firm’s subscription model
Which tools are most useful?
Information found. What next?
User tools for productivity
How a subscription model helps publishers improve their knowledge of customer behaviour
Analytics on content usage
Information helps renewals
Figure 1: From print to digital – 20 years of B2B content delivery
Figure 2: From transactional to personalised: The four types of commercial relationships for high-value market analysis products
Figure 3: Prospect to trial to subscription model