# The rise of the subscription model Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-12-20 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: Enhancing Consumer Experience with Tech Solutions in Meta Description: Discover how software architect Matt Hammond believes bespoke tech solutions are crucial for subscription businesses to excel in a competitive market. URL: https://financedigest.com/the-rise-of-the-subscription-modelhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-1396022343-1736814705158-compressed.jpg) _By_ **_Matt Hammond,_** _Founder of Talk Think Do_ ![Matt Hammond, Founder of Talk Think Do](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/matt-hammond-founder-talk-think-do-1-450x450-1736814705106-compressed.jpg) Matt Hammond, Founder of Talk Think Do The role of tech solutions in enhancing consumer experience in a rapidly growing business environment Subscription businesses have [boomed in the wake of the COVID-19 pandemic](https://www.financedigest.com/uk-house-prices-end-2022-on-a-weaker-note-after-pandemic-boom.html "UK house prices end 2022 on a weaker note after pandemic boom") and numerous lockdowns. Studies suggest that the global ecommerce subscription market is [expected to reach $904.28 billion in 2026 at a compound annual growth rate](https://www.financedigest.com/ecbs-makhlouf-expects-50-bps-rate-hike-in-december.html "ECB’s Makhlouf expects 50 bps rate hike in December") of 65.67%. With the market becoming increasingly saturated, brands are looking to technical [teams to deliver improved](https://www.financedigest.com/improving-your-it-team-in-four-simple-steps.html "Improving your IT team in four simple steps") user experience with a competitive edge. Software architect and founder of UK tech firm Talk Think Do, Matt Hammond, believes that the quality of the software behind subscription [businesses is becoming a make-or-break factor to success](https://www.financedigest.com/why-mobile-apps-are-crucial-for-a-successful-business.html "Why Mobile Apps are Crucial for a Successful Business"). Matt explains, “Recurring revenue is a big driver for venture-capitalists and entrepreneurs, therefore it’s unsurprising that subscription-based [businesses are on the rise](https://www.financedigest.com/pizza-firm-dp-eurasia-delivers-profit-rise-evaluating-russian-business.html "Pizza firm DP Eurasia delivers profit rise, evaluating Russian business"). In many cases, software is now being consumed as a subscription. Netflix is a prime example of where this has [become a comfortable model for consumers](https://www.financedigest.com/voice-assistants-set-to-revolutionize-commerce-and-become-a-dominant-mode-of-consumer-interaction-in-the-next-three-years.html "Voice assistants set to revolutionize commerce and become a dominant mode of consumer interaction in the next three years").  Therefore, for continued success of these businesses, ensuring the software and [user experience](https://www.financedigest.com/fintechs-how-to-increase-loyalty-through-user-experience-and-fraud-prevention.html "FinTechs: How to increase loyalty through user experience and fraud prevention") matches customer expectations is critical.” Matt has extensive experience developing software for [subscription models](https://www.financedigest.com/7-factors-to-consider-before-your-business-moves-to-a-subscription-model.html "7 Factors to Consider Before Your Business Moves to a Subscription Model"), including launching Fitness First’s membership and billing system across 16 countries, supporting over 1 million members and most recently for education provider, Explore Learning. With the standpoint that the billing and banking element to a subscription software is possibly the most complex, Matt believes this should firmly be considered part of the user experience: “All too often there is a lack of attention to detail on the elements that wrap around the [product and business](https://www.financedigest.com/sme-productivity-programme-re-purposed-to-help-businesses-prepare-for-covid-19-economic-recovery.html "SME productivity programme re-purposed to help businesses prepare for Covid-19 economic recovery"). Ensuring that a customer has a smooth experience in setting up their account and [providing billing details is critical](https://www.financedigest.com/keysource-to-provide-critical-facilitiesmanagement-support-for-leeds-city-council.html "KEYSOURCE TO PROVIDE CRITICAL FACILITIESMANAGEMENT SUPPORT FOR LEEDS CITY COUNCIL") to closing the sales pipeline. A good billing system [needs to be robust and offer](https://www.financedigest.com/why-the-banking-industry-needs-to-offer-more-than-just-enticing-perks-and-subscription-services.html "Why the banking industry needs to offer more than just enticing perks and subscription services") access to statements and invoices at a click of a button.” The software [specialist also advises that transparency around billing is key](https://www.financedigest.com/b2b-specialist-pr-agency-the-digital-voice-announces-three-key-account-wins.html "B2B Specialist PR Agency The Digital Voice Announces Three Key Account Wins") to retained confidence in the product and brand. Matt added: “With the widespread adoption of Apple Pay for example, consumers now expect friction-free [payment methods](https://www.financedigest.com/freelancer-payments-methods-what-you-should-know.html "Freelancer Payments Methods: What You Should Know"), so quality subscription businesses should be ensuring they have the slickest billing systems possible going into 2023.” Matt founded Talk Think Do in 2014 to innovate, modify, and maintain advanced, bespoke cloud-native [applications that enable businesses to achieve their growth](https://www.financedigest.com/bicycle-market-growth-to-surge-owing-to-increasing-adoption-by-end-use-applications.html "Bicycle Market Growth to Surge Owing to Increasing Adoption by End-use Applications") objectives. His work in delivering bespoke solutions has allowed him to [see how off-the-shelf products are simply not fit](https://www.financedigest.com/portugal-pm-welcomes-lufthansas-interest-in-tap-scholz-sees-good-fit.html "Portugal PM welcomes Lufthansa’s interest in TAP, Scholz sees good fit") for purpose for subscription models. “Completely bespoke systems are entirely suited to the [way a company does business](https://www.financedigest.com/3-ways-to-go-about-testing-your-business-ux-design.html "3 Ways to Go About Testing Your Business’ UX Design"). Off the shelf software doesn’t match the language and terminology the team use, and it isn’t aligned or adaptable to how the [business and its operations run](https://www.financedigest.com/4-signs-you-have-what-it-takes-to-run-a-business.html "4 Signs You Have What It Takes to Run a Business"). This creates confusion among the [team and customers](https://www.financedigest.com/why-finance-teams-are-integral-to-the-customer-experience.html "Why finance teams are integral to the customer experience") and results in things being incredibly clunky. For a [business model](https://www.financedigest.com/learning-from-the-disrupters-how-finance-brands-can-build-transformative-business-models.html "Learning from the disrupters – how finance brands can build transformative business models") that promotes easy, recurring income, this isn’t ideal. “Bespoke tech solutions that can be curated with the customer, their billing preference and the team’s operations in mind, are the only [way forward for subscription businesses](https://www.financedigest.com/6-ways-how-to-create-great-tiktok-videos-for-your-business.html "6 Ways How to Create Great TikTok Videos For Your Business") wishing to thrive in 2023 and beyond.” --- This blog is powered by Superblog. 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