You May Not Know It, But You’re in the Subscription Business

I have an idea about renewals. Most people think that a renewal applies to some type of subscription. You renew your subscription to a magazine, a maintenance contract or a software program. But what if renewal had a broader meaning?
What if renewal simply meant that the customer comes back—again and again? While repeat business may not be as steady as a subscription renewal, it can still be tracked in a similar way. A business with a true subscription model can predict renewals. Over time, any business can track return customers who, in a sense, are renewing their trust in the business to purchase from them again.
Let’s broaden the idea of subscription. Typically, a subscription means ongoing and recurring revenue to a company from customers paying on a schedule—monthly, quarterly or yearly. It can utilize something as simple as a subscription card, or a formal legal contract that binds the customer