AI in Subscription World: Use Cases – Part#1
Synthesis Systems Inc.
Subscription Monetization? Solution Experts Helping you Thrive in the Subscription Industry.
AI is an essential part of any solution that promises to deliver a great experience and efficiencies to the clients. The subscription industry is no exception. However, the use case of AI in the subscription world can be unique and different from the ones compared to the other industries. This series is focused on use cases of AI’s application in the subscription industry.
Use Case #1:
John subscribes to Smule for a month. He unsubscribes after a month as he just wanted to entertain his daughter during the holidays. A few months later, he subscribes again and unsubscribes after a monthly usage. He repeats it for the third time again in a few months. This is almost like a pattern.
In this case, Smule is neither getting a long-term customer nor continued revenues. The fourth time John subscribes, can Smule predict the pattern and automatically offer a two-month subscription fee waiver if he subscribes for a year? Or any other offer that makes him stick for a longer time. ?
In a subscription-based business, the right prediction matters.
I will come back to you with more use cases in coming days. Meanwhile, do let me know if you come across any product that effectively uses AI in the subscription business. Would love to review and highlight that in one of the use cases.
People Practices Leader / People Strategy Consultant / Leadership & Mentor Coach
2 年Thanks, Vishal! In our family we have 4 mobile connections and 2 broadband connections from the same service provider. However, I do not see the company having any knowledge of this, let alone leverage it to build a relationship, even though 3 mobile and 2 broadband connections are paid from the same bank account.