The subscription economy, consisting of the recurring payment for products or services, has been around for ages and is more prevalent now than ever before. When we talk about subscription, what may come to mind is online streaming, newspapers, cable service, and our milkman. The subscription model is not limited to retail or media. It's used to drive revenues across many different industries.

If your organization uses a traditional one-off purchase model, it's time to evaluate the benefits of recurring subscription models. What makes subscription services a successful and thriving model is how it can be adopted by any business to create connections with customers.