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The Membership Economy with Robbie Kellman Baxter
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Key points (with timestamps)
- 2:18 – Robbie’s background in management and subscription model
- 3:15 – Robbie’s view on the evolution of membership model within the wider business community
- 5:11 – It costs a lot less to retain an existing customer than it does to acquire a new one.
- 7:15 – Membership model promotes referrals within your community and creates ‘evangelists’.
- 9:25 – How Apple used evangelists to grow their community
- 9:58 – How Apple uses their ‘closed ecosystem’ to increase loyalty
- 11:02 – Apple music is Apple’s first major membership model.
- 12:08 – The Beats’ acquisition was as much about acquiring competencies around the recurring membership model as it was about acquiring the brand.
- 12:25 – Apple’s Taylor Swift ninja move
- 13:35 – How the membership model can be applied to a brick and mortar business (Florist case study)
- 16:36 – How restaurants create successful subscription/membership models
- 18:59 – In today’s information overload environment, “free” is no longer free.
- 20:05 – Risks associated with the membership model (Membership is a double edged sword)
- 21:17 – More doesn’t mean better in a membership model.
- 23:03 – “We want the elegant solution.”
- 24:23 – “Less is more.” – when it comes to making a membership model work
- 24:55 – Direction of the membership economy in 5-10 years. What businesses are going to embrace this model.
- 26:45 – How Amazon is creating private label products and connecting directly with consumers through membership models
- 27:25 – How the dollar shave club is harnessing the membership model to leap frog over retailers
- 28:12 – Case study – How the ‘Intel inside’ campaign and Dolby digital converted their buyers into distribution channels
- 30:13 – Challenges when getting started with membership model business and how to overcome them
- 32:20 – It’s not about technology, it’s about getting clear on your why and then making the decision.
- 33:01 – Florist case study, revisited. – things that the florist can do to get started with the subscription model
- 34:00 – Pricing with membership models – Do you go for high-end pricing or low-end pricing?
- 35:05 – Quick actions to get started with a subscription-based business
- 35:41 – The one situation where membership models tend not to work
- 36:16 – Books that have impacted Robbie the most
- 38:20 – How to get in contact with Robbie
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