A couple weeks back we floated an idea: What if you treated your customers like members?
The thinking is that having “members” - or people with an ongoing, paid affiliation with your business - would have different expectations than someone who merely made a purchase. Brands with members have much different expectations than those simply sells a product. Members have to be constantly engaged, and the organization has to be constantly innovating and adding value to keep those members paying.
It’s a smart way of thinking, even if a membership model isn’t viable for every company.
Our inspiration for the post was The Membership Economy, a best-selling book by Robbie Kellman Baxter. The book outlines how companies like Netflix, LinkedIn, and SurveyMonkey are changing the nature of customer/brand relationships. Even traditional offline brands such as Weight Watchers and American Express are shifting from “ownership” to “membership,” and diving head first into models of ongoing engagement and retention.
If you want to get the gist of the book in just a couple minutes, this video is a brilliant way to do so:
We were so inspired by the concept that we wanted to help spread the message.
Coming up on November 4, at 11am Eastern, we’re hosting a free webinar with Baxter. We’ll go in-depth with her on what the membership economy means, with specific strategies and tactics that any company can employ - whether you have a membership model or not.
We’re going to squeeze in a ton of good info into this free hour, including a Q&A session. We’ll also give away a few books to attendees. Click here to register!
Some specifics you’ll learn in the webinar:
How the shift from “ownership” to “membership” is changing engagement and loyalty
Why onboarding is more important than ever, and what needs to be done right off the bat
The benefits of a “freemium” model (and how it’s different than a free trial)
See how an hourglass is replacing the traditional sales funnel
A pricing model that maximizes value for both the brand and the customer
So much, much more!
There’s no cost, and even if you register and don’t attend, you’ll still get the slides and a link to the recording. Sign up today!