How do we persuade consumers to start paying for “free” banking? Amazon and Netflix have shown that subscription services can be a hit with consumers - what can banking providers learn from the success of these subscription models?
What are the best strategies for converting consumers into paying subscribers of banking services? Is creating a premium service enough, and how do we improve the value-add? Could putting limits on free services “push” consumers into subscribing?
How important is branding - would using the language of “subscription”, “upgrade” and “plans” be more engaging for today's consumers? And do the service offerings of fintech challengers provide any pointers?
Our expert panel looks at what we can learn from subscription models elsewhere and how to apply those lessons to banking services.
Gabriela Henault, Associate Partner, Prophet
Alexandra Rowbottom, Senior PR Executive, Monese