As subscription models continue to develop, more companies have started offering group subscriptions. By leveraging group subscriptions, companies expand their targets from individual customers to groups and organizations. But what exactly are group subscriptions? And what is the real benefit they can add to your company?
What are Group Subscriptions?
By leveraging group subscriptions, you can make your content more available to organizations; allowing them to purchase digital access for a number of their members. Group subscriptions grant access to a set number of authorized users while allowing an account administrator to manage the user list.
The goal of a group subscription is to provide a discounted subscription offering to a large number of users, which is a boon when it comes to selling packages to organizations. They allow companies to quickly and easily generate unique signup forms to group members, allowing them to register into the group.
Forms of Group Subscriptions
Email-managed billing: The group subscription standard; the company sends out two emails, one for all the individual accounts on the subscription, and another to the billing manager.
IP-Based Subscriptions: This kind of group subscription identifies users’ IP addresses by tracking their IPs; this form of subscription is ideal if you only allow readers access from a specific location.
Group Coupons: With group coupons, the company covers a portion of the cost by providing digital coupons; while letting the users take on the rest, this is a good alternative for companies who want to have their employees manage their individual subscriptions.
Why offer Group subscriptions?
Introducing group subscriptions to your company’s offerings enables your company to increase its deal sizes dramatically. It will also allow your company to tap into an audience that may not otherwise be exposed to your content. This kind of subscription makes it exceedingly easy for multiple people in a corporation to purchase a subscription; while making the content more accessible and affordable.
Additionally, you can gift group subscriptions to your partners or sponsor to build rapport and foster a better relationship between the companies.
Conclusion
When it comes to choosing the right group subscription model for your company, there are three things your organization needs to identify.
Who is going to be the business manager?
Where is everyone located?
What is your strategic goal/target?
After identifying these three elements, you can start setting up your company’s group subscription offerings.
Whether you’re targeting smaller businesses or multinational corporations, group subscriptions are a great, customizable way to generate revenue. They can expand your target market and reach audiences that would not otherwise come across your content.
Are you thinking of adding group subscriptions to your offerings? Get started with a free trial, or schedule a demo call with one of our experts to make the most of group subscriptions on your platform.