When most people think of Apple they think of their devices, which is why you may be surprised by the figures surrounding the subscription services they provide around these devices. Apple recently announced that in 2015 the revenue from this subscription provision was an incredible $19.9 billion. This represented a 10% increase on the revenue produced in 2015.
Although that figure may be surprising at first when you think about the services that Apple provides you can see where the money comes from. Apple is extremely clever in ensuring it makes money from the devices it sells long after the initial sale is complete.
The value of Apple services
Looking at the revenue figure from 2015 you can see the value in the services that Apple provides. These services include Apple Music, iCloud storage, paid apps and even a percentage of every purchase made with Apple Pay. It’s all about making the most of the demand for Apple products and the services that support them.
How can other subscription services benefit?
You can clearly see how subscription services are benefitting Apple; so how does that work with other subscription services? The thing is that if you operate a subscription service for your customers you already have a valuable insight into customer loyalty. If customers are subscribing to your brand then you can see that they are already expressing their loyalty. They want to continue having a relationship with you. You are then able to develop and hone your brand in order to maintain this relationship and help it to flourish.
You have all the customer data at your fingertips that you need to develop your service in the right way; all you have to do is use it. By doing this you have the opportunity to maximize your revenue potential in the same way that Apple does.
Of course, this does not mean you are going to attain the high levels of revenue that Apple reach; that is something that few businesses could ever hope for. What you can do is work on maintaining the loyalty of your customers, in the same way, Apple does. This loyalty to the Apple brand can be seen by the furore that greets any impending Apple announcement. One such announcement is due to be made on 21st March. We wonder if it will have anything to do with the service side of the business.