December 15, 2021 | Authored by: Vindicia Team
2022 predictions for our industry – from Vindicia’s leaders
Well, 2021 has simply flown by and we are on the cusp of a brand-new year. These past 12 months, we saw a slow return to face-to-face meetings, enjoyed our first in-person conference since the pandemic, and learned how to live and work productively in hybrid mode.
What will 2022 bring for the subscription industry, e-commerce companies, and Vindicia? Here’s the predictions from our people:
Roy Barak, CFO/COO: A subscription-first world
“This will be the year when subscriptions pass over that invisible line, taking them from nice-to-have, to a must for any business that wants to ensure long-term customer connections and reliable revenue streams. When 46% of consumers are already saying they’d prefer to buy a vehicle via subscription rather than the usual way, then we know we have truly entered a subscription-first world.”
Jack Bullock, CRO: Data, AI and experience
“Decision making about how to achieve profitability is going to rest on a unique combination of three pillars: data, AI and customer experience. At Vindicia, we’ve got 18 years of subscription data and analysis under our belt. We know that there is no longer any scenario in which a subscription business will not mine data and use AI to boost every moment of their customer journey and take strategic decisions that will lead to better experiences for customers.”
Jesus Luzardo, Global Head of Partnerships & International Sales: Obsessed about friction
“In 2022, reducing friction in subscription journeys will be both the greatest challenge, and greatest motivation. It is more clear than ever: minimizing friction and creating better customer experiences is what drives revenue and increases lifetime value. Journeys must be super smart, fully connected, seamless and frictionless across the entire subscription lifecycle.”
Lana Moss, Head of People: Happy, healthy ecosystem
“This year will be the year we learn to understand The Great Resignation, by educating ourselves and listening to each other as well as cultivating resilience among our people. This requires agility, having a focus on our employee needs, bringing in great people and helping them realize their personal and professional desires. Companies will relate to their employees not as a workforce but part of a healthy, happy ecosystem – creating the best possible experiences for the individual and as well as the best outcomes for our organizations.
Rima Khoury, VP Engineering: People before technology
“If once we believed that technology drives behavior, now we know it’s the other way around. Our algorithms are always running in the background, fueling our subscription management and retention products with sophisticated data gathered from millions of transactions. But algorithms must be based on people – what they do, who they are. Technology that is human-fueled will always work better than product-driven tech because it creates a predictive model for forecasting future events.”
Rubi Cohen, Head of Marketing: Customer lifetime value will become a brand priority
“Next year and beyond, marketers are going to approach subscriptions as a lifetime value engine. It’s no longer about just acquisition, but creating a compelling story that embodies your customers’ needs and values, providing memorable experiences that generate loyalty and build powerful, long-lasting relationships with your brand.”
Trace Galloway, Chief Strategy Officer: BNPL double digit adoption rate
The “buy now, pay later” (BNPL) trend will continue well into 2022 with the adoption rate growing at double digit speed. For consumers, the convenience of being able to make purchases on a flexible, installment-based model with no extra financing costs is a clear winner. For businesses, the ability to provide BNPL and ensure ongoing and longer-lasting connections with customers will be vital to a winning strategy.”
The entire gen V at Vindicia wishes our customers and partners a happy, healthy new year. May we all work together to enhance subscription journeys, create better e-commerce connections, and enjoy mutually beneficial success based on advanced subscription technology and strategy.
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