UBS financial services firm predicts that this “subscription economy” will grow to $1.5 trillion by 2025, more than double the $650 billionit’s estimated to be worth now.
Subscriptions bring in upfront revenue, strengthen relationships with customers and give companies much deeper data on what sells.
The rapid growth of subscriptions has created a host of challenges for the economy, far outpacing the government’s ability to scrutinize aggressive marketing practices and ensure that consumers are being treated fairly.
The typical U.S. consumer now has two to three subscriptions, according to user data from budget app Mint and research by Tien Tzuo.
SUMMARY: According to the Havas Meaningful Brands study “75% of brands could disappear overnight and most people wouldn’t care or could easily find a replacement. In addition, only 34% of consumers surveyed globally think companies are transparent about their commitments and promises”. This study needs context and has several flaws.
SUMMARY: Stupidity is defined as doing the same thing over and over and expecting different results. 91% of business executives plan to increase their social media budgets over the next three years despite fewer than half of companies who describe their social media strategies as “very effective” when measuring its power to strengthen brand image, raise awareness, increase sales or growing the customer base.
SUMMARY: Pepsi vs. Coca-Cola. McDonald’s vs. Burger King. Pizza Hut vs. Dominos. Starbucks vs. Dunkin’ Donuts. Uber vs. Lyft. Who doesn’t love a great business war? When two big brands go to battle, some great stories emerge. Business wars are battles, every bit as intense as when the nation goes against a nation.
IN SUMMARY: In the United States, there are about 52 million people who are age 65 or older, according to the U.S. Census Bureau. This demographic is projected to almost double in size by 2060, to a whopping 95 million people. The mature market has over $1.6 trillion in spending power and a net worth that’s almost twice the U.S. average. The facts speak for themselves — the mature market represents a tremendous opportunity across all categories.
HEY NOW: According to Bango marketers need to realize that board-level executives aren’t interested in vanity metrics like shares, likes, and retweets… and don’t even get them started on “impressions” and “engagement” levels. But Sprout’s new report on social media marketing indicates that marketers are still pouring money into social media and feel it’s a channel they need for brand building. What we have here is failure to communicate.
QUICK READ: Time is just as valuable as currency. People don’t have time to read your content unless they are information-seeking mode. They will scan your content for personally relevant information and even share it on social media without reading it. Site visitors on average spend less than 15 seconds on any given webpage, and that’s assuming people click to go to your site at all. The way to combat this is to know your audience and what THEY want to know/read.