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Solutions to the Various Challenges of Subscription-Based Companies

January 9, 2020 by Shannon Talley

With the advancement of technology, more subscription-based companies have popped up. Although the subscription business model started way back in the 17th century by companies producing books and periodicals, it was only later that this kind of business model had been adopted by many companies. Today, the subscription approach does not only involve the trade of products but also services as well.

With the technology we have today, businesses can easily spread their brand presence with the use of the internet through social media and mainstream media. I

For a business entity that is new to this type of business model, here are some of the various challenges that you may be facing, which you should address quickly and competently to avoid big losses.

Withdrawal of Customer Subscriptions

Keeping all subscribers may be a difficult task. But if you give importance on delving on every withdrawal to find out the reasons for each may give you the best solutions to avoid the exodus of subscribers. Personalizing interactions with your subscribers may be able to result in a more attached business relationship with your customers.

Although you may not be able to keep all your subscribers for a lifetime, you should be able to end their subscription on a positive note that they will soon renew their subscription with you in the future.

Keeping Subscription Rates Competitive

With prices of most basic needs going up, it is a challenge for a subscription company to keep its subscription rates affordable. Increasing your prices may cause customer dissatisfaction, but finding measures to let clients understand the increase should do the trick to be able to avoid withdrawal of subscriptions. It will help if you study the competition and be guided by the current trends in the industry.

Technological Barriers

The use of technology in this kind of business model is crucial. If your company has not yet perfected all the processes involved, then you should invest in how to use it to your benefit. From billing to collection and how you can interact and monitor customers, you really need to beef up your knowledge on how technology can make your subscription business grow.

Just like other business models, challenges will always be around for us to solve. Knowing the reasons why they arise and learning to prevent these from happening is still the best solution that will ensure stability in every business.

Reasons Why Supply Chain Matters to Business Growth

December 12, 2019 by Rhonda Barnhart

The supply chain, in simple terms, is the path a product takes from the manufacturer to the customer. For a producer, it also includes getting the raw material from their source. Supply chain management plays a significant role in solving logistical issues. One way to have a sufficient supply chain is to have a Warehouse Management System (WMS) that is good. To make your business thrive, you should have a flourishing supply chain. The growth of your business depends on this because proper management can make sure you deliver everything on time, and you get happy customers.

Strategy

It all comes down to policy when you speak of success. The approach you use should support the goals of the business. It should be planned carefully and in an orderly manner to build a great organization. If done so, it can help your business escape problems such as damaged goods on the way, theft, or employee untrustworthiness. A great strategy should be secure so that you can avoid unexpected losses. It also must be quick enough to reach the customer on time and avoid delays. In the long run, it will save you a lot of time and money and also increase your profits. Through this, your business can grow at a faster rate.

The Interconnected Supply Chain

Consumers are in constant communication with producers who are also in communication with other producers. There is also communication between producers and retailers or wholesalers because producers need to have their products all over. This means that the supply chain should be managed well and by a person who is well equipped for this. The earth can be viewed as a big interconnected supply chain because of the intercommunication between everybody. Everything that we purchase has gone through a particular supply chain to get to you. If you manage it well, your business should improve and show you remarkable results.

Research

It was found that only 8 % of businesses with supply chains that are weak report growth that is above average. With more than 50% of companies failing within the first five years, it is said that the primary cause for this is an inadequate focus on this subject. This indicates that for the fast growth of your business, you must have a solid working supply chain. If you want to improve your business, you should look for methods to make it durable and reliable.

Simple Ways to Enjoy Taxi Services

July 2, 2019 by Rhonda Barnhart

Gone are the days when one had to whistle to get the attention of a taxi driver. Currently, the world and its businesses are evolving, all thanks to technology. Almost every sector has felt the impact of tech and human innovation.

Currently, the taxi world is full of challenges and competition. Companies like Uber, Lyft, Taxify, and others are always battling it out to make sure their services attract more travelers. In this article, you will find guidelines that will help you get the best experiences when using taxicab services.

Price & Promo Codes

Previously people had to wait until they got to their destination to know the amount they owe the driver. With the innovation of mobile applications, you can quickly request and estimate the prices of your trip before your journey begins. Moreover, these applications have numerous ways that allow customers to minimize traveling expenses. Among some of the common ways include splitting fare charges with other rider and using promo codes on your trips.

Being Punctual

To make sure that you have a good start with your driver, do not request for a cab unless you are ready to start your journey. Many people make the mistake of requesting transportation as they prepare to go out. In some cases, drivers arrive at the pick-up location and end up leaving because the client is not prepared to leave. This has the potential to damage your online profile, making drivers opt to decline your trip requests.

Driver’s Ratings

You should always be cautious when getting a taxi. If you are using an online platform, you can confirm the drivers’ ratings and reviews before requesting a ride. If you are getting a taxi in person, things like how the drivers conduct themselves and the condition of the car will help you make a wise decision.

The best cab agencies make sure that their drivers offer the best professional services. Requesting a taxi online is the safest option you have if you want to experience a successful trip. Also, if there is any form of misconduct, it is easier to file a complaint to the agencies or relevant authorities.

If you want to experience the best taxi services, consider following the tips mentioned in this article.