
Books Mentioned:
Key points (with timestamps)
3:27 – Robbie’s background in management and subscription model4:24 – Robbie’s view on the evolution of membership model within the wider business community
6:23 – It costs a lot less to retain an existing customer than it does to acquire a new one.
8:37 – Membership model promotes referrals within your community and creates ‘evangelists’.
10:50 – How Apple used evangelists to grow their community
11:00 – How Apple uses their ‘closed ecosystem’ to increase loyalty
12:28 – Apple music is Apple’s first major membership model.
13:16 – The Beats’ acquisition was as much about acquiring competencies around the recurring membership model as it was about acquiring the brand.
13:33 – Apple’s Taylor Swift ninja move
14:44 – How the membership model can be applied to a brick and mortar business (Florist case study)
17:45 – How restaurants create successful subscription/membership models
20:07 – In today’s information overload environment, “free” is no longer free.
21:13 – Risks associated with the membership model (Membership is a double edged sword)
22:38 – More doesn’t mean better in a membership model.
24:11 – “We want the elegant solution.”
25:29 – “Less is more.” – when it comes to making a membership model work
24:50 – Direction of the membership economy in 5-10 years. What businesses are going to embrace this model.
27:57 – How Amazon is creating private label products and connecting directly with consumers through membership models
28:30 – How the dollar shave club is harnessing the membership model to leap frog over retailers
29:22 – Case study – How the ‘Intel inside’ campaign and Dolby digital converted their buyers into distribution channels
31:26 – Challenges when getting started with membership model business and how to overcome them
33:19 – It’s not about technology, it’s about getting clear on your why and then making the decision.
34:14 – Florist case study, revisited. – things that the florist can do to get started with the subscription model
35:08 – Pricing with membership models – Do you go for high-end pricing or low-end pricing?
36:13 – Quick actions to get started with a subscription-based business
36:49 – The one situation where membership models tend not to work
37:25 – Books that have impacted Robbie the most
39:27 – How to get in contact with Robbie
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Ash Roy
Ash Roy has spent over 15 years working in the corporate world as a financial and strategic analyst and advisor to large multinational banks and telecommunications companies. He suffered through a CPA in 1997 and completed it despite not liking it at all because he believed it was a valuable skill to have. He sacrificed his personality in the process. In 2004 he finished his MBA (Masters In Business Administration) from the Australian Graduate School of Management and loved it! He scored a distinction (average) and got his personality back too!