Subscription & Membership Model Expert • Keynote Speaker • Author of The Membership Economy and The Forever Transaction • Host of Subscription Stories Podcast
Menlo Park, CA
Joined April 2008
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Take Note: The most successful subscription businesses in the world start with the left circle before moving to the right.
#pricing #strategy #membership #subscription #customersuccess
📣 You won't find this retention strategy in any book, and it's extremely effective.
Invite your members to cancel if they aren't getting the value they came for.
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🤩 I was blown away when I saw the result a recent client got from rewriting their onboarding emails.
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By directing new subscribers to the features they came for, reinforcing the wisdom of their decision to join, and mapping out a path for future success, my client was able to build habits from the beginning.
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This resulted in a 20% decline in first-period cancellations.
And an immediate uptick in revenue. 📈
#pricing #strategy #membership #subscription #customersuccess
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Don't start building your product until you understand the customer’s problem.
Without a deep understanding of your customers' problem, you won't create a lasting solution they're willing to pay for, subscribe to, and stick with.
Your forever promise. ♾️
The more time you spend on the problem, the more focused the solution and the more likely to have product-market fit (PMF).
#pricing #strategy #membership #subscription #customersuccess
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🧠 A “membership mindset” is the foundation of long-term growth.
If you want customers to be loyal, to trust you, 𝗮𝗻𝗱 𝘁𝗼 𝗮𝗹𝗹𝗼𝘄 𝘆𝗼𝘂 𝘁𝗼 𝗰𝗵𝗮𝗿𝗴𝗲 𝘁𝗵𝗲𝗺 𝗼𝗻 𝗮 𝗿𝗲𝗰𝘂𝗿𝗿𝗶𝗻𝗴 𝗯𝗮𝘀𝗶𝘀, you need to give them something in return-something to earn that trust
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A membership mindset is the way employees feel about the people they serve. It has to do with prioritizing the customer’s long-term success overthe organization’s short-term revenue . It requres a focuson helping customers achieve their goals, rather than just buying the product.
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Every company says it is customer-centric, but not every organization sticks to customer-centricity, even when it drives short-term losses.
#pricing #strategy #membership #subscription #customersuccess
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James Schramko has developed a unique model to help consultants and experts earn more while working less. And while he has been an early adopter of technology, many of his tools and tactics are flexible enough to be used by large or even very small businesses.
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In this Subscription Stories podcast episode, you’ll learn:
💡Why bundling too much into your subscription can cost you members
💡How to use technology to support a global community
💡Why a tiered ascension model sometimes leaves money on the table.
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🎧 Check out the full episode below and hit "subscribe" to ensure you don't miss any of this season's guests.
loom.ly/AkzTIGI
#pricing #strategy #membership #subscription #customersuccess
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Hard truth for subscription businesses:
Cut your freemium offering.
(Doing this could increase your revenue AND cut your costs)
Here's the reality, if your freemium offering isn't:
- Converting into paying subscribers
- Driving viral acquisition
- Having a network effect
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You're losing more than you're gaining by offering it.
#pricing #strategy #membership #subscription #customersuccess
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Don’t let yourself be fooled by….other subscription businesses that brag about their acquisition rates.
Successful subscriptions depend on retention – 𝗯𝗼𝗿𝗶𝗻𝗴, 𝘂𝗻𝘀𝗲𝘅𝘆, 𝗿𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻.
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