If you are thinking of starting a new subscription-based business or incorporating a subscription-based service or product into your existing DTC business, now is the time to take action. The subscription economy refers to services and products that are purchased via a subscription scheme rather than traditional buying methods. Subscription-based businesses are centered on frequency of use, such as Apple Music and Netflix, which offer monthly subscriptions. It's not just tech companies that are thriving in the subscription economy - monthly food packages, takeaway subscriptions, lifestyle products, and even clothing are becoming increasingly popular.

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Once you've done your research and seen how much the subscription economy has grown, the next step is to create a comprehensive checklist to help guide you as you get your subscription business off the ground. This checklist should include your marketing strategy fundamentals, such as defining your persona, researching your competitors, determining your unique selling proposition, and identifying sources of traffic to your website or app. You also need to consider using influencers and affiliate partners to promote and push your brand, and optimize your content marketing strategy for customer acquisition.

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Additionally, it's important to offer your audience an opportunity to try your product or service without committing to becoming a paying consumer, and to have a remarketing strategy in place to turn interested audiences into paying customers. Continuously improving your website's user experience and search engine optimization, as well as listening to the needs of your customers and re-engaging with paying subscribers are also important aspects to consider.

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To succeed in the subscription economy, businesses must focus on providing value to their customers through personalized and relevant experiences. As such, it's essential to prioritize your marketing efforts and ensure that your customers remain engaged and satisfied with your brand.

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