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The Membership Economy with Robbie Kellman Baxter
Robbie Kellman Baxter is an expert in membership sites and is the author of the book, The Membership Economy. She’s the founder of peninsulastrategies.com and has clients that range from start-ups and ventured back to companies to industry leaders like Netflix, Yahoo, Oracle, and eBay. Over the last ten years, Peninsula Strategies has advised nearly a hundred organizations on their growth strategy. She’s sought-after speaker who presented at Stanford and Harvard. She’s been quoted in The Wall Street Journal and has been asked to write articles for American Venture, MarketingProfs and Management Consulting News. She also holds an MBA from Stanford Graduate School of Management and graduated with honors from Harvard College and is an active volunteer with both institutions.
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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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