10 insights on the membership economy — robbie kellman baxter
TRANSCRIPT
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This presentation consists of highlights from the interview with Moe Abdou,
founder & host of 33voices®.
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Robbie Kellman Baxter created the popular business term “Member-ship Economy”. She is the founder of Peninsula Strategies LLC, a
strategy consulting firm. Her clients have included large organizations like Netflix, SurveyMonkey and Yahoo!, as well as smaller venture-
backed startups. Over the course of her career, Robbie has worked in or consulted to clients in more than twenty industries.
Robbie Kellman Baxter
@robbiebax
Strategy Consultant
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Among the most desired of human needs is belonging for people are willing to pay a
premium and give up their privacy in exchange for feeling accepted and loved.
Insight #1
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Insight #2
While a membership business model may not be right for your
business, consider these advantages:
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Insight #2
While a membership business model may not be right for your
business, consider these advantages:It creates recurring revenue
and removes lumpiness
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Insight #2
While a membership business model may not be right for your
business, consider these advantages:It builds a more direct relationship
that strengthens your brand
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Insight #2
While a membership business model may not be right for your
business, consider these advantages:It generates an ongoing data stream that can be used to improve service
and identify opportunities
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Insight #3
If the ‘Forever Transaction’ is the key metric in a membership model, then innovation must be verb. Unless you continuously tinker with new
ways to add value, you’ll grow stale.
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Insight #4
The smart onboarding process has three key steps:
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Insight #4
The smart onboarding process has three key steps:
Removing Friction
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Insight #4
The smart onboarding process has three key steps:Delivering Immediate Value
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Insight #4
The smart onboarding process has three key steps:
Rewarding desired behaviors that will drive member success
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Insight #5
Pricing is especially tricky in a membership model; consider
these seven potential revenue streams:
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Insight #5
Pricing is especially tricky in a membership model; consider
these seven potential revenue streams:Subscriptions
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Insight #5
Pricing is especially tricky in a membership model; consider
these seven potential revenue streams:À La Carte Service
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Insight #5
Pricing is especially tricky in a membership model; consider
these seven potential revenue streams:Ancillary Products
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Insight #5
Pricing is especially tricky in a membership model; consider
these seven potential revenue streams:Partnership Streams
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Insight #5
Pricing is especially tricky in a membership model; consider
these seven potential revenue streams:Aggregated Analytics
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Insight #5
Pricing is especially tricky in a membership model; consider
these seven potential revenue streams:Advertising
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Insight #5
Pricing is especially tricky in a membership model; consider
these seven potential revenue streams:Free
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Insight #6
“Give your service away for free possibly ad supported but maybe not, acquire a lot of
customers very efficiently through word of mouth, referral network, organic search
marketing, etc, then offer premium priced value added services or an enhanced version
of your service to your customer base.” - Fred Wilson on the Freemium Business Model
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Insight #7
The genius behind Netflix’s early membership traction was their commitment to focus on one key benefit and deliver it to
a focused audience: no late fees. What’s the one thing that only you can do?
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Insight #8
If you must raise prices, over-communicate and consider these two options:
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Insight #8
If you must raise prices, over-communicate and consider these two options:
Grandfather existing members at old prices
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Insight #8
If you must raise prices, over-communicate and consider these two options:
Add tiers above the current level with more benefits
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Insight #9
The best organizations innovate around their business models. Before
you contemplate a shift to a membership model, evaluate these three key issues:
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Insight #9
The best organizations innovate around their business models. Before
you contemplate a shift to a membership model, evaluate these three key issues:Product - Does your product need to
be rebuilt to be offered as a subscription?
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Insight #9
The best organizations innovate around their business models. Before
you contemplate a shift to a membership model, evaluate these three key issues:
Pricing - How will you price the value of access for a finite
period of time? A month? A year?
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Insight #9
The best organizations innovate around their business models. Before
you contemplate a shift to a membership model, evaluate these three key issues:
Communication - Be as transparent and as consistent as possible
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Insight #10
Membership is timeless, important and powerful; people crave it.
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Is there one component of your business that can support a
membership model?
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Presentation created by Chase Jennings
Insights by Moe Abdou