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Why buy when you can rent?

Many years ago, hire purchase revolutionised domestic life.  Suddenly, middle-income families could afford radios, washing machines and cars, because they could spread the cost of payments over months or years.

That innovation was swiftly followed by the idea of renting equipment, which added two enormous consumer benefits.  If your TV or freezer went wrong, the rental company mended or exchanged it as part of the package.  And customers could choose a deal that provided regular replacements – so you always had the latest model.

There was no need to worry about expensive repair bills, or that your kit would become out of date or obsolete.  Rental provided all the pleasure of owning the latest technology, without the continuing costs of ownership.

The fall of rental …

Then came the boom of the late 1980s and early 1990s.  Technology prices plummeted.  Consumer spending soared.  Conspicuous consumption became the fashion.

Many consumers switched to buying outright and domestic rental companies disappeared from most high streets.  Had people really forgotten all the advantages of renting?

… and the rise of subscription

Nowadays canny customers are choosing to lease or subscribe for a range of products and services wider than ever before.  Even though it’s no longer called rental, they receive many of the same benefits.

From cars and computers to movies and games, customers get what they want, when and how they want.  And now business customers can take advantage of the same types of deals.

The joys of subscription

When you choose to subscribe rather than buy, you can:

  • Spread your expenditure predictably and take pressure off your budget
  • Avoid having to spend big sums for updates or replacements
  • Stop worrying about maintenance, repairs and upgrades
  • Design a dynamic service with your supplier that fits your needs and adapts as they change, rather than buying a static, one size fits all, forever solution
  • Know you always have the latest version, and stop planning for obsolescence or budgeting to write off your investment
  • Build a long-term relationship with your supplier – so they get to know your business and work with you to develop new ideas and services
  • Save money through economies of scale as multiple subscribers share some of the costs

How a subscription service can help your stakeholder engagement planning

The Thecosystems subscription service provides dynamic, flexible information, targeted at a single disease condition.

You can choose to subscribe for one person, a team, or everyone in the company who meets up with external experts.

Everyone with access shares the same therapeutic ecosystem information which is regularly updated. 

Everyone will be able to identify the key people and explore their connections and networks.  They will all be able to use every part of the information, whenever they want, whether they’re in the office or on the move.

To discover how a subscription to Thecosystems could help you reach the people of interest to your business, visit Thecosystems.com today for a free trial.

About the author

Peter Joshua

Peter’s background is in pharmacy, clinical development and the commercialisation of medicines. For the past nine years he’s steered our business towards the Thecosystems horizon.

Thecosystems

Connecting the facts.