Shep Hyken interviews Robbie Kellman Baxter, bestselling author and founder of Peninsula Strategies, LLC. They discuss how any company in any industry can utilize a subscription model to the benefit of their customers.
“A subscription is a pricing decision. It’s a tactic. Membership is the mindset that the customer is going to be with you for a long time. It makes the entire organization think differently about marketing, products and services. Pricing is just a small part of this very powerful business model.”
“Think of your customers as members. Ask yourself what ‘forever promise’ you’re making to them and what long-term problem or goal you’re helping them solve or achieve.”
“What becomes really important in any subscription business is how to onboard a new member for a long-term relationship. It’s not enough to get them to sign up. You must teach them how to make your products and services a habit.”
“By focusing on your clients’ long-term wellbeing and helping them achieve their goals or solve their ongoing problems, you can build a formal recurring revenue relationship in just about any industry and with organizations of any size.”
Robbie Kellman Baxter is the founder of Peninsula Strategies, LLC, a management consulting firm. She is also the author of the bestselling book The Membership Economy. Her new book is called The Forever Transaction.
Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and your host of Amazing Business Radio.
This episode of Amazing Business Radio with Shep Hyken answers the following questions … and more:
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