043. Membership Economy with Robbie Kellman Baxter

September 9th, 2015 By: Ash

The Membership Economy with Robbie Kellman Baxter

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Resources Mentioned:Robbie Kellman Baxter photo

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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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