The Membership Economy: Summary Review
This is a summary review of The Membership Economy containing key details about the book.
What is The Membership Economy About?
The Membership Economy explores how businesses can build long-lasting relationships with their customers through memberships, subscriptions, and community-driven experiences.
The Membership Economy shows how nimble companies that focus on ongoing, formal relationships over one-time transactions are thriving. By renting, lending, or offering access instead of just "ownership," organizations can leapfrog industry leaders. In terms of strategic business models, this is one that allows for breakthrough growth. With great case studies from American Express, LinkedIn, CrossFit, SurveyMonkey, and more, this book will show you how to radically rethink how your organization can build loyalty, viral growth, and recurring revenue.
Summary Points & Takeaways from The Membership Economy
Some key summary points and takeaways from the book includes:
* The membership economy is a business model where companies offer access to exclusive products and services in exchange for a recurring fee.
* This model is becoming more popular as technology makes it easier to provide services on a subscription basis.
* The benefits of a membership economy model include creating a more loyal customer base, generating a steady revenue stream, and enabling companies to offer a better customer experience.
* Companies must focus on creating value for their members in order to retain them, which involves understanding their needs and preferences and providing a seamless experience.
* Success in the membership economy requires a culture of continuous innovation and a focus on delivering outstanding customer service.
Who is the author of The Membership Economy?
Robbie Kellman Baxter is a consultant and speaker who has been providing strategic business advice to Silicon Valley companies for over 20 years. She regularly presents to professional associations, leading universities, and corporations.
Book Details
- Print length: 272 pages
- Genre: Business, Nonfiction, Entrepreneurship
The Membership Economy Chapters
Chapter 1 :How the Membership Economy Fits into the Bigger Picture
Chapter 2:Why the Membership Economy Matters
Chapter 3:The Many Faces of the Membership Economy
Chapter 4:Build the Right Organization
Chapter 5:Build an Effective Acquisition Funnel from the Bottom Up
Chapter 6:Onboard Members for Success and Superusers
Chapter 7:Start Simple with pricing, but Leave Room for Flexibility
Chapter 8:Incorporate "Free" as a Tactic, Not a Strategy
Chapter 9:Use the Right Technology and Track the Right Date
Chapter 10:How to Retain Members (and When to Let Them Go)
Chapter 11:What you can Learn from Online Subscriptions
Chapter 12:What you can Learn from Online Community Models
Chapter 13:What you can Learn from Loyalty Programs
Chapter 14:What you can Learn from Traditional Membership Economy Companies
Chapter 15:What you can Learn from Small Businesses and Consultancies
Chapter 16:What you can Learn from Nonprofits, Professional Societies, and trade Associations
Chapter 17:From Idea to Start-Up
Chapter 18:From Start-Up to Mature Organization
Chapter 19:From Offline to Online
Chapter 20:From Ownership to Access
Chapter 21:From Business as Usual to Competitive Disruption
What is a good quote from The Membership Economy?
Top Quote: “Companies that are disciplined in their approach to innovation get a much better payoff than the ones that are eager to “just try something.” - The Membership Economy Quotes, Robbie Kellman Baxter
* The editor of this summary review made every effort to maintain information accuracy, including any published quotes, chapters, or takeaways. If you're interested in furthering your personal growth, you may want to explore my list of favorite self-improvement books. These books, which have had a significant impact on my life, are carefully curated and come with summaries and key lessons.
Chief Editor
Tal Gur is an author, founder, and impact-driven entrepreneur at heart. After trading his daily grind for a life of his own daring design, he spent a decade pursuing 100 major life goals around the globe. His journey and most recent book, The Art of Fully Living, has led him to found Elevate Society.
