Find Your Super Users, Master the Forever Transaction, and Build Recurring Revenue
If you've ever used ZipCar, Amazon Prime, Spotify, NetFlix, Groupon, Weight Watchers, SurveyMonkey, United Mileage Plus, Pinterest, or Twitter, you are part of The Membership Economy, an increasingly popular model that author Robbie Kellman Baxter sees as the inevitable result of technological advancements, social trends, and a generation in transition.
The Membership Economy argues that we are now moving away from ownership, but we still want the benefits that come with access.
"As individuals grow frustrated with the burdens of owning, caring for, and storing too much stuff, they are looking for ways to minimize that stress. They are also experiencing a need for meaningful connection and community."
The membership-based business is a problem solver for both businesses and individuals. It spares people from the duties of ownership and provides a feeling of commonality and affiliation. For businesses it offers the opportunity to create a "forever customer" who remains loyal and participatory, even as the company shifts and changes. Membership allows for building direct relationships and continuously generates a data stream that can be tapped for a variety of purposes.
Ultimately it provides the cachet of belonging.
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Just starting my membership business
- Norman Ramsey
Excellent insights, a valuable resource