Would you like to (un)subscribe?
Would you like to subscribe for just $9.99 dollars a month? WAIT, you’d save 20%
additionally, if you take a yearly subscription package today, brags a newbie
subscription business to ad-agnostic millennials assuming the already distressed
subscribers would recklessly sign up to the crap they never wished to, and some
certainly would, credits to the Netflix Effect.
Me? Thanks, but no thanks!
Apple foraying into a whole range of services backed by subscriptions propels a
conflict for the pitiable customer’s share of wallet who’s already subscribed to most
of the categories below.
The proliferation of paid subscription based services, kudos to their gripping marketing messages seems enough to ruin budgets.
A survey named “America’s Relationship With Subscription Services” by the Waterstone Group found out that the average monthly spending of an American on subscription services was $237.33!
Succumbing to crushing deals, subscribers accede to pay upfront for yearly subscriptions without a thought or search on how worthy it truly is. Although, in several cases, it’s not entirely their fault. Categories like streaming services have cogently made it to the basic human necessities and would incessantly be subscribed until death. Exclusive original content has turned out to be a major driver for customers when they’re choosing subscriptions. In its 12th annual digital media trends survey of 2,088 consumers, Deloitte found out that the streaming customers chose to subscribe to a service based on access to exclusive content.
Another flabbergasting fact! More than half of U.S homes now subscribe to a streaming service, spending $2.1 billion a month. In addition to consuming abundant video content, consumers also find time to listen to music and play video games. Penetration of music streaming services rose to 41 percent, a 58 percent increase from last year. Younger consumers, in particular, are placing music in the “must-have” category.
Bearing in mind that consumers now have more subscriptions options than ever, it would be rationally impossible to subscribe beyond a budget. Many are already frustrated by the complexity and effort to get their priorities right. More than 70% of subscribers say they’d have cancelled their subscriptions previously, except, they forgot.
However, as the adage goes, better late than never. How about some shrewd money saving tips?
Are you strong at math? If not, find someone who is.
Initially, subscribing to shaving items sounded like a good idea. I’d dodge the trouble of running out of razors again. Though, my underrated shrewd friend got the exact same razors by purchasing them in bulk at a warehouse store, even cheaper. Likewise, make a list of all your subscriptions and try to uncover a feasible cheaper alternative.
Are you friends frugal? If yes, find someone who’s not.
Have you ever not been able to binge watch on Netflix as too many of your darling friends with whom you’d merrily shared password were busily bingeing from your account at the same time? Nightmare! It’s time they end their supposedly free subscription. Ask your friends to pitch in for services that can be shared. For instance, you could pay the monthly subscription for HBO Now and invite your friends to watch Game of Thrones at your place every week, while another mutual friend of yours pays for Netflix and hosts you and your social circle when you gather to watch Stranger Things at their place.
Ever thought of eliminating redundancy? If not, don’t contemplate yet.
It’s time to bid adieu to the gym you apparently plan to go everyday but end up eating an entire row of Oreos instead. Or the beauty box you subscribed to get startled by exclusive stuffs you hardly used once but didn’t forget to upload twice on Instagram. I’d say shed from cult marketing gimmicks and make choices rationally.
The trend is picking up swiftly! Startups globally are exploring multiple untouched categories and trying to fit in subscription based models, decent enough to con you and me!
Indeed, the day is not so far when absolutely zilch would amuse the customers as they might not have the money to burn or the time to spare.
Until we reach that point, a newbie is going to keep haunting us if we would like to subscribe for just $9.99 a month?
Written by: Jay Bhuta
Edited by: Giulia Mattioli