Reduce Costs by Switching to Pay As You Go Model
Heard about the “Pay as you go model”? Post-pandemic, this is going to be one of the wonderful paying models that can help your growing business to meet the dynamic shipments of the industry. To get a better overview of the topic, here is a small write-up to enlighten your thoughts in a better and vivid way.
In this article, we are going to discuss the cost-effective strategies that can help in reducing the cost factor and increase the operational efficiency of your business. The progressive business model also throws some light on all strategies that should be kept in mind that can help your business to grow exponentially.
What is the pay as you go model?
Minimal investment is required to get on-boarded with the digital transformation. It will act as a fundamental step in introducing automation and digitisation to your mobility business. The best part of pay as you go model is that it allows you to avail the tech services at a bare minimum cost.
As you keep on growing with your services and wish to avail more from the tech, you can choose to keep on increasing your pay scale and expand accordingly. Hence, you will be paying for every service you take. There is no fixed subset for payments.
This strategy helps in keeping your investment controlled and makes your earnings multiply with automation. If you are a startup and are consolidated with the paying capacity, it is always better to go ahead with pay as you go model. Unlike any other software purchase, this model gives the leverage of utilising the perks of automation without putting any burden on your pocket.
Salient features of pay as you go model
Here is the list of the most beneficial features of pay as you go model that can give you a sneak peek of how it looks!
Quick escalation of online journey
If you choose to go ahead with the pay as you go model, you will get the chance to escalate your online journey and make automation an integral part of your mobility services. This will make things quicker and easier for your business.
You can scale and expand your services in no time. For the startups, who are looking for quick and fast results, this model can surely bring justice to your business.
Another big thing that comes with pay as you go model is that it comes with custom-fit requirements. Once you are known with your requirements, you can get a better idea about what all features/ tech ideas you want in your business. You can use or select the features you want to use and can try to skip features that you are not looking for. Hence, custom fit requirements become a good thing when you are into the inception stage.
You only need to pay for all the features that you are going to use. The rest of the features can be skipped.
Hence, you can bring more to the table of functionality and less in terms of expenses. This can be a better way to stay progressive in the market.
Say no to up-front commitment
So, when you are in the pay as you go model, you can stay assured about no up-front commitment. If your business grips the success, you can keep on expanding as per the market demand. On the contrary, if you are going slow with the business and still are sceptical about how things will move forward, you can choose to stay limited with the features.
This will help in reducing the consumption of investment when there is no or limited flow of revenue. This model is a boon for the startups that are already in the struggling phase to keep strong control over their expenses and expenditure as a whole.
This also serves as a foundation to set up certain business goals of making your business flexible as per the market demand. For instance, in the case of COVID-19, the whole mobility business faces a setback. The amid lockdown has created a fuss among many startups who had already invested big in the business.
However, if you choose to go for pay as you go model, there is no need to pay for the model, when you are not using the services. This can be an added advantage for startups who are looking for a safe bid to get started post-pandemic. They can easily enrol for pay as you go model.
No compromise for brand identity
Many might think that if they are using the pay as you go model, they might have to compromise with the customised services with a brand name. However, this is not true. If you choose to go with tech experts such as Jugnoo, you will need not worry about branding. The brand name can be easily highlighted and can be represented in the business.
The brand identity gets more attention from the audiences. It helps in retaining and bringing new customers to your business. As you grow in the market, this brand identity helps you to establish your brand presence in the market.
Stay flexible with the pricing structure
In the world of uncertainties, it is always advised to stay certain of your services. The pricing is a flexible component that should be adaptive when it comes to staying at the edge in the competitive space. In the pay as you go model, it can be easily achieved.
The model allows the business to keep a flexible window open for the pricing structure. This can bring a competitive advantage to the business. Also at times of peak hours, it would become easier for the businesses to play with the pricing component.
Different stages/ plan for pricing
As per the stage of your business, you can choose any of the fundamental pricing structures. It could be interchanged as your business grows or decide to keep it slow.
They are categorised as beginner stage, early stage, startup and growth. To get a better idea about the pricing and feature-based structure, click here to know in detail.
Pay as you go model is certainly a new name in the market and is new for many players. But owing to its high efficiency and productivity, we can say that the market is rising and will see a new future with this addition. The salient features make it easier for us to estimate growth and success in the coming years. Post pandemic, every other business is looking for assured services. They can get that level of assurance and stability with this model.