IE Subscription Conclave Highlights: Building the subscription economy

'Redressal mechanism in subscription is important and needs to be added by businesses in their models,' Siddharth Banerjee, managing director, Pearson

'Social media is one of the best ways to reach your target audience', Siddharth Banerjee, managing director, Pearson

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'Subscription is the long-term business solution for high customer acquisition cost', Siddharth Banerjee, managing director, Pearson

'There needs to be added security that secures the payment process,' Nishant Pati, director, business development and product management, Juspay

'Consumers have more trust in the UPI payment process,' Tushar Aggarwal, ​head retail, Loantap and co-founder, Unofin

'Every customer has the right to be heard, never ignore their voice,' Mohit Sharma, national head and AVP-Partnership Development, Indipaisa

'It is not only about recurring payments but also about providing recurring value to customers,' Piyush Singh, director, Grameen Foundation India

'Subscription is the lifeline for insurance companies,' Harsh Vardhan Masta, head, Payments, PolicyBazaar

'This is the digital era of payments', Mohit Sharma, national head and AVP-Partnership Development, Indipaisa

'Increasing competition, high cancellation rate, initial sign-up avoidance and constant need to provide new value are the major disadvantages of subscription-based business models', Abhisar Sharma, chief executive officer, National e-Governance Asset Data Limited (NADL)

'Predictable revenue stream, stronger and long-term relationships, lower customer retention spend and better forecasting are the core benefits of subscription model,' Abhisar Sharma, chief executive officer, National e-Governance Asset Data Limited (NADL)

'It is easy to attract customers, but difficult to retain customers for longer,'Abhisar Sharma, chief executive officer, National e-Governance Asset Data Limited (NADL)

'10% of all new vehicle sales will be subscription based by 2025', Abhisar Sharma, chief executive officer, National e-Governance Asset Data Limited (NADL)

'Data feeds customisation engine,' Harshita Singh, business head, Times Prime

'Focus more on loyalty than loyalty programme,' Dilpreet Singh, head – CRM, loyalty and customer analytics, ITC Hotel

'Consumers pay you for their own loyalty,' Harshita Singh, business head, Times Prime

'Loyalty programmes are prudent in today's times to drive customer engagement and grab loyalty,' Sahil Sethi, director, Loyalty, JW Marriott

'Platform, process and people are the three pillars to drive customer loyalty,' Dilpreet Singh, head – CRM, loyalty and customer analytics, ITC Hotel

'Quality, pricing, innovations in product & marketing, CSR initiatives are the pillars of customer loyalty to drive trust within customers,' Nitin Kalra, head – customer loyalty and co-brand, Adani

'Ad-based revenue model and subscription based revenue model are inter related', Durga Raghunath, head, News Partnerships, India, Google

'Shift from ad-based business model to subscription based business model is the biggest challenge in subscription,' Puneet Jain, CEO, HT Digital News

'News is not all about personalisation; editorial content has to be prioritised over personal choice,' Sanjay Sindhwani, CEO, Indian Express Online Media

'Readers are ready to pay for education, sports and fact-check news,' Durga Raghunath, head, News Partnerships, India, Google

'Subscription is a journey, not the beginning,' Bharat Gupta, CEO, Jagran New Media

'Personalisation drives subscription and paves way for consumer retention,' Puneet Jain, CEO, HT Digital News

'Subscription business is cutting across all the trends across industries,' Puneet Jain, chief executive officer, HT Digital News

'Audience share of mind is important,' Bharat Gupta, CEO, Jagran New Media

'Knowing your audience is quintessential for the subscription business to be successful', Sanjay Sindhwani, CEO, Indian Express Online Media

'Data and consumer are at the top when we think about subscription', Durga Raghunath, head, News Partnerships, India, Google

'Using content as a pull mechanism is one of the strategies that helps in recurring payment,' Sunny Sen, founder and CEO, Conscent.ai

'Content and target group are essential in driving subscription model,' Vaibhav Vardhan, co-founder and CEO, Inc42 Media

'Personalisation and propensity to spend drives the subscription funnel for us,' Radhika Shukla, head – Subscription Growth, Strategy and Analytics, TOI+

'The funnel moderates at different levels on different platforms,' Sunny Sen, Founder and CEO, Conscent.ai

'Membership played better than subscription for us,' Vaibhav Vardhan, co-founder and CEO, Inc42 Media

'Sharper communication and reducing friction are the key factors to start the subscription funnel,'Radhika Shukla, head – Subscription Growth, Strategy and Analytics, TOI+

'Major chunk of our marketing budget is invested in influencer marketing',

Snigdha Anand, VP Marketing, Mamaearth

'Content creators and influencers are different and we onboard them accordingly', Shantanu Chauhan, associate director – Marketing, Noise on influencer marketing.

'Building credibility and functionality are quintessential to enhance your customer experience', Devarshy R. Ganguly, head, marketing, MagicBricks

'Customer trust is the USP of Spinny', Rubi Gupta, AVP marketing and growth, Spinny

'With D2C marketing model, you are able to interact for with consumers', Shantanu Chauhan, associate director – Marketing, Noise

'Unified communications and technology-led customer care along with regular feedback from customers are the necessary steps taken for retention,' Deepak Gupta, VP, business head, Livpure

'End-to-end integrated applications to reduce customer friction points', Deepak Gupta, VP, business head, Livpure

'Customer acquisition, operations, product and retention are the key pillars for the success of Livpure,' Deepak Gupta, VP, business head, Livpure

'There is always a fight between data security and marketing,'Anshul Goel, head, Technology, Farmart

“Largely our insight remains on whether consumers are actively using our platform or not. We also are involved in last mile customisation, as it is also used by the end of the tunnel consumer,” Vibhor Gupta, head, engineering, InTheMarket and founder, director Mobiquel.

“Very first touch point which could be an ad, or someone has reached out. From the starting point to end its various step,” Vibor Gupta, head, engineering, InTheMarket and founder, director, Mobiquel on how companies remain in conversation with users.

'Subscription plays on the basic human instinct,' Jigar Vora, founder, Scriberr

'Today's consumers want curation, personalisation and convenience along with value for money,' Jigar Vora, founder, Scriberr

'We are trying to address the problem of cancellations in the country”, Amit Sharma, head, demand operations, India and South Asia, Uber.