The smartest, most successful companies are using radically new membership models, subscription-based formats, and freemium pricing structures to grow their customer base―and explode their market valuation―in the most disruptive shift in business since the Industrial Revolution. Today's guest, Robbie Baxter, unpacks The Membership Economy: Find Your Super Users, Master the Forever Transaction and Build Recurring Revenue.
Key Takeaways:
[1:09] The big idea behind the membership economy.
[2:47] Cost certainty is part of the appeal to subscribers of membership-based organizations.
[8:18] Robbie Baxter unpacks three components within the membership economy: suspension, community, and loyalty.
[16:02] Businesses who adopt the membership economy business concept experience major benefits, including recurring revenue.
[22:27] Incumbent businesses in classically organized industries can adapt to the membership economy by focusing on and building off of the mission of their members.
[30:42] Robbie Baxter explains how a manicure business demonstrates the difference between fixed cost and incremental cost and why this matters in the membership economy.
[36:24] How to best Contact Robbie at Peninsula Strategies and read The Membership Economy.
Mentioned in This Episode: