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It's the end of product ownership as we know it.
We're now addicted to subscription services like Netflix, Spotify, Amazon Prime. Even Ford and Caterpillar offer subscription models. So how can your business survive and thrive in this new economy?
Tien Tzuo, is an industry leader, bestselling author and the founder and CEO of Zuora (NYSE: ZUO), and shared with FORBES, his thoughts about the current state of business.
"There is a tipping point around the idea of subscriptions as the common currency for the relationship between the consumer, customer in B2B sectors, and the company and its products and services. Once we experience the whole thing, we start to question why we need to purchase it."
Beginning in 2007, Tzuo evangelized the shift to subscription-based business models coining the phrase "Subscription Economy."
To empower this new economy, Tzuo spent 10 years building an award-winning subscription management platform capable of powering any subscription business, and of solving the complex billing structures, they inherit. Before Zuora, Tzuo was one of the 'original forces' at Salesforce, joining as employee number 11.
Read the full write-up on this industry thought leader in this FORBES article.
We are moving to a subscription living style, so a subscription platform is going to be, essential too.
As technology gets better and the social acceptance and the infrastructure gets better to support this model, the more likely it will happen everywhere. Think about Ford no longer talks about cars, but them being a mobility company.
We can see how miles driven have gone up, and car sales have gone down.
The basic paradigm of miles and car ownership has been eroded. The new model of personal vehicular usage for everything has been borne on the idea of the subscription economy."
Tien Tzuo will share riveting tales from the trenches detailing how your company can prosper during the Fall Pricing Workshops and Conference Virtual Event #PPSVirtual20!Continue reading
We're proud to have thousands of Certified Pricing Professional Designation Graduates around the world. We're more excited to feature their testimonies, career changes and professional developments!
Watch as Carlos Hugo Barbery, CPP, CPO, Bolivia Retail S.A., shares his transformation as a recent graduate.
*The full English translation is listed below. ;)
"I highly value being part of the Professional Pricing Society, given the high degree of demand that represents being a certified professional by this institution.
It has exceeded my expectations, not only by addressing quantitative approaches such as: discounts, incremental costs, margin analysis, in greater depth and rigor, but by incorporating qualitative approaches into the analysis from a more holistic view of prices such as: segmentation, hedonistic perspective of value, price management in turbulent markets, price management in competitive markets, etc.
They are tools that make a substantial difference in the analysis, even in countries where there is high informality and rigidity in the regulations and as if it were not enough, now the COVID-19 puts a brake on the world with which it will completely change the perspective of the consumer. There is still a long way to go and above all a lot of path to discover in this exciting subject of prices."
Greetings from Santa Cruz de la Sierra, Bolivia.
Learn more about the Certified Pricing Professional Designation HERE.Continue reading
Technology, in particular the digitization of the economy, is altering entire business ecosystems. Increased price transparency and choice are strengthening the negotiation power of customers.
Data science, Artificial Intelligence and predictive analytics offer an unprecedented possibility for pricing intelligence and new disruptive pricing models. What does this all mean for the Pricing functions at companies?
Looking at our current reality and imagining the future, we can expect five trends to reshape our business landscape.Continue reading
Almost every industry and business is facing disruption today due to the global pandemic.Many small businesses are unable to sustain in these difficult times and the businesses that have managed to keep their doors open are faced with tremendous pressure. Large enterprises offering B2B or B2C services could step up to help those in need, and what better way to do that than to lower or waive fees?Continue reading
Gabe Smith, Chief Evangelist with Pricefx, is a featured presenter during the Pricing In Crisis Virtual Summit sharing the benefits of digital transformation, how to set priorities, and gain organizational buy-in.
In this article from Pricefx, uncover the top skills needed for a digital transformation.Continue reading