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AprameyaAI • 1y
In 2008, Spotify launched a subscription-based music service in a world where people were still buying songs individually or, let’s be honest, downloading them illegally. Fast forward to 2024, Spotify now has over 550 million active users, with 230 million of them paying for a premium subscription. How did they get here? By nailing their subscription model. Here are the top strategies for building a successful subscription-based service, inspired by companies like Spotify: 1. Start with value – People won’t subscribe just because it’s a subscription. Offer real value that makes their life easier, better, or more enjoyable. 2. Freemium model – Give users a taste of what they’re missing. Offer a free tier, but make the paid version so irresistible, they’ll want to upgrade. 3. Focus on retention, not just acquisition – The real money is in keeping your subscribers, not just getting them to sign up. Provide consistent value to keep them hooked. 4. Personalization is key – Make your service feel tailored to each individual. Whether it's customized playlists or personalized recommendations, people love feeling understood. 5. Build a community – Create a sense of belonging around your service. People are more likely to stick around when they feel part of something bigger. 6. Offer flexibility – Make it easy to sign up, easy to upgrade, and just as easy to cancel. Ironically, this flexibility often builds trust and long-term loyalty. Spotify didn’t succeed because it was the first streaming service—it succeeded because it mastered these strategies. Your subscription-based service can do the same. I'm implementing the same at AprAi
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