Revuto CEO Josipa Majic: No customer should pay for subscriptions they do not want or use

This type of model is driving growth in these challenging times, particularly for big players like Netflix which experienced 16 million new sign-ups during lockdown. It seems that now is a better time than ever to take the leap to this model.

Affordable and quickly

The shift from a transactional to a subscription-based model was eased also by the concentration of spending power in millennials and Generation Z. Their buyer persona has simple characteristics – they don’t fancy owning things anymore, and prefer to have the freedom to explore and switch between new services effortlessly, with no strings attached.

Millennials have four times less disposable income than “baby boomers” did at age of 34, and the attention span of a Gen Z is just 8 seconds. 

“These younger demographic groups need services that are both affordable and work quickly. And, by quickly, this means there needs to be no barrier for entry or for leaving the service. Subscription-based businesses should keep the subscription process as simple as possible; this includes keeping the T&Cs light, and make unsubscribing as easy as subscribing. Outstanding customer experience as well as making the subscription service interesting and interactive at all times will build deeper customer relationships”

Josipa Majic, CEO of Revuto

Subscriptions are growing 100% year-on-year

Many aspects of our daily lives have changed in 2020 – more people are subscribing to services like Netflix, Disney+, and Spotify, and workforces have now adjusted to working remotely and staying connected through services like Zoom, Slack, and Microsoft Teams.

“Big companies like Adobe and Microsoft originally came up with the idea to ditch the traditional one-time license options so that they could function as subscription-based models, resulting in a large increase in shares. And, as subscriptions are growing 100% year-on-year, we are sure they are here to stay and will soon be everywhere around us”

 

Josipa Majic, CEO of Revuto

The subscription economy has experienced significant uptake in the last few years, with McKinsey estimating that the upstart industry of subscription boxes has grown by more than 100 percent every year since 2011. This growth suggests that there are valuable opportunities within this realm, which is visible from the entertainment and retail industries which include successes such as Netflix, Spotify and Amazon Prime.

We have a solution!

Revuto is the ultimate consumer solution in the subscription economy. We are here to make sure people never pay for subscriptions they don’t want or use, and to maximize the value and decrease the seasonality of subscriptions as much as possible.

Majic concludes: “My vision is that no customer should pay for subscriptions they do not want or use – and Revuto is here to bring the power back to their hands.

In the near future, you can expect us to push for better and broader consumer rights in the space, and we will aim to be among the first solutions that will help customers to make more conscious and financially responsible decisions for all recurring expenses”.

The Revuto app is coming soon!

To become one of the first beta testers of the Revuto app, sign up: https://revuto.com/ and use it for free! The Revuto app will be available by the end of January 2021. Until then, join our Referral Program and earn rewards – up to 600 Revutokens!

With the Revuto app you can:

• Block or Snooze or Approve each subscription or recurring payment in seconds
• Share/split costs with friends in a safe and secure way
• Swap unused subscriptions with friends
• All payment information and passwords are tokenized