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- Herausgeber: Business Book Summaries
- Kategorie: Fachliteratur
- Sprache: Englisch
The must-read summary of Robbie Kellman Baxter's book: "The Membership Economy: Find Your Superusers, Master the Forever Transaction and Build Recurring Revenue".
This complete summary of the ideas from Robbie Kellman Baxter's book "The Membership Economy" highlights the fact that more and more corporate giants (like Apple and Amazon) are re-thinking their business models to go from selling individual products to offering memberships. These memberships generate recurring revenues and allow the customer to build a relationship with the company. Thanks to social media, it is now easier than ever for organisations to maintain relationships with customers on a long-term basis, which leads to customers remaining loyal to the company. By applying the seven strategies listed in this summary to your business, you will be able to retain customers and join the Membership Economy.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your business knowledge
To learn more, read "The Membership Economy" to discover how to engage more with your customers and have a competitive edge over other companies.
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Seitenzahl: 30
Veröffentlichungsjahr: 2016
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Book Presentation: The Membership Economy by Robbie Kellman Baxter
Summary of The Membership Economy (Robbie Kellman Baxter)
Book Presentation: The Membership Economy by Robbie Kellman Baxter
Book Abstract
MAIN IDEA
Many of the heavy hitters of the corporate world – like Apple, Amazon and just about every big start-up around – are busy at present changing their business models from selling individual products to offering memberships which generate ongoing recurring revenues. This is indicative of the rise in the membership economy which looks set to become much larger in the future.
So what is the "Membership Economy"? Pure and simple membership means customers engage with an organization or a group on an ongoing basis. It's where an organization puts the customer relationship at the center of the business model rather than the product, the customer experience or even making a one-time sales transaction.
Today, the rise of social media and other technology makes it easier than ever for customers to have an ongoing relationship with your organization. If you can get them contributing to the experience of other customers in positive ways, you'll have a powerful competitive edge over companies which merely act as product or service vendors.
"I'm convinced that the Membership Economy will have as profound an effect on society as the Industrial Revolution or the spread of the automobile. Today, the promise of membership is greater than ever. Evolving technologies have dramatically enhanced the ability of a broad range of industries to take advantage of membership models. The relationship between customer and organization is ongoing and formal, a 'forever transaction' that has implications across the organization, changing everything."
– Robbie Baxter
About the Author
ROBBIE KELLMAN BAXTER is the founder of Peninsula Strategies, LLC, a strategic marketing consulting firm. She has consulted with clients in 20 industries including Netflix, SurveyMonkey and Yahoo! Before starting Peninsula Strategies, Ms. Baxter was a consultant at Booz Allen & Hamilton and a Silicon Valley product marketer. She is also an accomplished public speaker and has had articles published in the Wall Street Journal, The New York Times and Consumer Reports. She is a graduate of Harvard College and the Stanford Graduate School of Business.
The Web site for this book is at www.membershipeconomy.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, view points and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of The Membership Economy (Robbie Kellman Baxter)
1. What exactly is the Membership Economy?
Membership means organizations build their businesses around generating recurring revenues by connecting with their customers on a long-term basis. It means winning the hearts and voices of customers rather than viewing every purchase as a one-time event.
Memberships are not new. They have always been around in one form or another. What is different is that consumers are now starting to show their willingness to pay a premium if they can connect with a community of like-minded individuals who can help them get more done.
This preference for connection with others is being driven by several transformative business trends:
The general ubiquity of online access via multiple devices, especially mobile phones.The dramatic decline in the cost of data storage and processing – which enables companies to provide access at very low prices.The decline of face-to-face communities and their replacement with virtual alternatives.The availability of news providers, photo sharing sites, video sharing services and more.
