This video goes into the benefits for consumers and entrepreneurs. Robbie defines superusers and forever transactions.
- Of course, the membership economy isn't for everyone.…There are definitely some organizations that do not benefit,…such as healthcare companies with patents,…or fishing fleets that sell their catch at the docks…for fixed prices,…or actually monopolies of any kind.…If you run one of these types of organizations,…you can stop watching right now,…unless of course, you just enjoy learning about…different business models.…But for the rest of you,…the ones who actually need to attract…and retain customers who have choices in the marketplace,…you have a lot to gain,…and so do your customers.…
You've probably already thought about some of the ways…that your organization can benefit.…Predictable cash flow is definitely…a high priority for many organizations,…'cause cash flow makes it easier to invest in the future,…and it also increases your valuation…in the eyes of investors,…but there are other reasons.…You get a better relationship with members,…you have access to them all the time for ideas and input,…and you can also get their feedback,…
In this course, Robbie Kellman Baxter—author of The Membership Economy: Find Your Super Users, Master the Forever Transaction, and Build Recurring Revenue—goes into the types of skills required in a membership economy company, why onboarding matters so much in long-term customer relationships, and how to optimize the experience for loyalty. She also outlines pricing for value in the membership economy, when free makes sense, how technology can extend the infrastructure of trust, and best practices for customer success and retention.
- Building the forever transaction, the right organization, and an effective acquisition funnel
- Onboarding members for success
- Starting simple with pricing
- Leaving room in pricing for flexibility
- Using the right technology
- Tracking the right data
- Knowing when to retain members
- Transitioning from idea to going concern
- Recovering from a pricing mistake
- Understanding the difference between loyalty and inertia