Want a new Mercedes but can’t afford to buy one? Why buy a CD when £10 a month gives you ‘000? Setting up a new online business but will limited funds? Have it all, Subscribe Now!!This episode of Old Fox Young Fox looks at the subscription economy. Joined by Toby Beresford of Veneficus, we explore how a move from owning to renting is transforming the landscape for both consumers and suppliers globally.Netflix, Spotify, Apple iCloud, Office 365 and Amazon Web Services are all examples of subscriptions and whether we realise it or not, we are consuming more products and services via subscription every day. In fact, 2020 saw huge growth in subscription services globally due in part to Covid-19 and our insatiable desire to try before we buy, get it now and always have the latest and greatest.What is surprising is how far the subscription model of pay as you go has reached with school uniforms, and even jet engines moving to this model.But how do subscriptions actually work? What are the benefits to businesses to moving to a subscription-based model and are they better or worse for us the consumer?.About the show:Old Fox Young Fox is an intergenerational conversation between Jeremy Woolwich and Oliver Happy, one that explores the impacts of a rapidly changing world.Check out Ollie's new show: Problem Busters.Show mentions:Veneficus - https://www.veneficus.co.uk/https://Rise.global - digital scorecardsBook - Infinite gamification by Toby BeresfordNetflixSpotifyBarclayCard data shows we have become a subscription societyFreddy's flowersNakedwines.com - the wine clubRelationship commerceMicrosoft Office365SaaS: Software as a ServiceFree trial versus FreemiumApple iCloudMusic - Jeremy Woolwich piano musicRenting property as a form of subscriptionThe role of rentals in sustaining instant gratificationThe lifetime value of a customerPersonalisation as a method of making customers stickyTechnology as driver of subscriptionsGoogle CloudLaundry tablet delivery servicesAffiliate networksHow successful subscription businesses are buying customersAffiliate marketingInfluencers in social mediaRolls Royce and General Electric renting jet engines: Power by the hourThe circular economy and subscriptions driving sustainable behaviourPower by the hour spreading the risk and a win-winCustomer success metricsBoeing airlinesSharing metrics with suppliersIoT The Internet of ThingsIntelligent fridges and reorderingAmazon subscriptions in Amazon PantryPeople buy for different reasons, integration needed to drive volumeSubscriptions sliced off as fridges get screens and sensorsFragmentation of the basket of shop and where we get them fromYankee candlesMeat delivery services at a lower price than supermarketsSubscription economy as a way for new entrants to disrupt the marketSetting up a deeper relationship with your customersAn investment mindset - under investment of big players leading to new entrants in the technology spaceFacebook leading the charge on technology investmentThe climate emergency and our attitudes to consumptionThe planet friendly dietArtificial meat now on sale in TescoBeyond meatAuthor Jonathon PorrittSchool uniforms as a subscriptionSharing economiesCar share clubsHow travel is changing (the grand tour)Taxi sharing in HollandTuk tuk sharing in ThailandCollectivos and shared mini-bus travel.About our guest:Toby Beresford is an entrepreneur, author and is Head of client engagement at Veneficus, with Rise.global as "a side hustle project". Toby lives with his family in the South of England and is actively engaged in the rise of social media, the subscription economy and what it all means.LinkedIn: https://www.linkedin.com/in/tobyberesford/.Related episodes:Ethical design with Cennyd BowlesGamification who is keeping score with Toby BeresfordConnecting the dots on the circular economy with Peter DesmondSocial promo photo by Charles Deluvio on UnsplashThis podcast uses the following third-party services for analysis: Podtrac - https://analytics.podtrac.com/privacy-policy-gdrp