At Fosina Marketing Group we believe that in order for companies to remain viable there is a mission-critical emphasis and focus requirement.
Fosina Marketing Group, a digital marketing services agency that focuses on “digital direct to consumer marketing”, notes the growing trend of Millennials favoring subscription services in a variety of product areas. With each passing year, this audience shows a demonstrable preference to monthly payment models offer in terms of freedom, convenience, and flexibility for everything from television programming and music, to food delivery and clothing. This change in buying patterns is leading to many marketers to investigate new ways to package their products and services in order to satisfy the need of this important segment and their changing preferences.
CEO of the subscription billing company Zuora, Tien Tzuo, addressed this trend during an interview with Forbes.
“Over the past few years, we’ve seen a seismic shift in growth strategies for business brought about by a growing preference on the part of both businesses and consumers to subscribe to services, rather than buy products.”
Tzuo went on to point out some of the biggest attractions to these services.
“Companies are allowing their customers the adaptability to either pay as they go, or pay per subscription monthly, or via a long-term contract. The point is to have flexibility.”
Millennials continue to demonstrate their preference for access rather than ownership, The vast majority of subscription services do not require an upfront financial commitment. The feature that allows customers the capability to instantly leave these programs for a “better offer” is seen as a comfort & benefit. Marketers have realized that there is a great need and focus to provide real-time product & inventory that is competitively priced.