24WC-0034: Time's Up: Pivoting Your Firm to a Subscription Based Model (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Wednesday, April 24, 2024
4:00pm - 6:00pm Central Time
2 CPE (2 non-technical)

The barber, blacksmith, butcher, baker and candlestick maker used to have an intimate knowledge their customers. This tacit knowledge got lost in the Industrial Revolution. It is now coming back. The world is moving from products and services to subscriptions, favoring access and transformations over ownership and deliverables. McKinsey reports that the subscription ecommerce market has grown by more than 100% per year for past five years. Further, subscription-based companies are growing eight times faster than the S&P 500 Index (17.6% vs. 2.2%), and five times faster than US retail sales (17.6% vs. 3.6%). The advantages to a subscription model include predictable revenue, collective knowledge of your customers, one-to-one marketing, forecasting for demand and planning more effectively, breaking down silos and creating a true "one-firm" model.

Major subjects

• The three types of adoption approaches to creating a subscriber base
• Five approaches to value nurturing--that is, what happens after the sale to help customers achieve success and realize value
• Ten best practices to reduce churn (i.e., losing subscribers)
• Essential growth strategies to deploy

Learning objective(s)

• Identify strategies utilized by businesses that have made the transition to a subscription-based model
• An in-depth exploration of the nine types of subscription business models
• The psychology of selling subscriptions
• How to develop new metrics and accounting information to represent the economics of a subscription business

Who should take this program?

CPAs, accountants and financial professionals

Fees

Standard Member Fee	$89.00
Standard Nonmember Fee	$119.00