Business Model Canvas for Startups & Subscription Planning
By Ruhi Garg | August 30, 2022
Subscription business models are booming! Digital Innovation, Information, and Insights have paved the way to how businesses define or redefine their business models and pricing strategies.
Predictable revenue, deep customer relationships, upselling packages, cost-effective solutions for new & repeat customers, customer convenience, customized quotes and periodical payments, and better profitability for businesses; all of these lead to a better company success, growth, and capturing increased lifetime value (LTV) of the customers.
This below business model canvas showcases a Startup’s business model which uses hybrid business strategy and pricing (fixed renewal, and subscription basis). It provides a structured template to various startups, consumer service businesses, hospitality and retail industries, OEMs and others which can help them quickly create their business models and plan their strategy better.
It helps provide an in-depth tool with defined key concepts that will give customers visibility of elements to be thought of, these include total customer acquisition costs, recurring revenue areas, customer predictability and retention strategies. Objectives & Key Results (OKRs) and Key Process Indicators (KPIs) that need to become part of model definition, mainly for subscription strategies.