The Membership Economy: Find Your Super Users, Master the Forever Transaction, and Build Recurring Revenue
Acknowledgments xi
Introduction 1
SECTION I What You Need to Know About
the Membership Economy
1 How the Membership Economy Fits into
the Bigger Picture 9
2 Why the Membership Economy Matters 17
3 The Many Faces of the Membership Economy 25
SECTION II Membership Economy Strategies and Tactics
4 Build the Right Organization 33
5 Build an Effective Acquisition Funnel fromthe Bottom Up 45
6 Onboard Members for Success and Superusers 55
7 Start Simple with Pricing, but Leave Room forFlexibility 67
8 Incorporate “Free” as a Tactic, Not a Strategy 81
9 Use the Right Technology and Track the RightData 91
10 How to Retain Members (and When to Let ThemGo) 101
SECTION III Membership Organizations
Come in All Shapes and Sizes 11 What You Can Learn from Online Subscriptions 117
12 What You Can Learn from Online Community Models 127
13 What You Can Learn from Loyalty Programs 137
14 What You Can Learn from Traditional MembershipEconomy Companies 147
15 What You Can Learn from Small Businesses andConsultancies 157
16 What You Can Learn from Nonprofits, ProfessionalSocieties, and Trade Associations 167
SECTION IV The Membership Economy and Transformation
17 From Idea to Start-Up 181
18 From Start-Up to Mature Organization 191
19 From Offline to Online 201
20 From Ownership to Access 211
21 From Business as Usual to CompetitiveDisruption 221
Conclusion: How You Can Start Transitioning Today 231
Glossary 239
Notes 243
Index 248
In today’s business world, it takes more than a website to stay competitive. The smartest, most successful companies are using radically new membership models, subscription-based formats, and freemium pricing structures to grow their customer base—and explode their market valuation—in the most disruptive shift in business since the Industrial Revolution.
This is The Membership Economy.
Written by an expertconsultant, this groundbreaking book will show you how to turn ordinary customers into members for life. Learn how to:
- Turn digital subscriptions into forever sales
- Build an online community your customers will love
- Develop new loyalty programs that really pay off
- Transform freemium users into superusers
- Create a self-generating revenue stream
- Keep memberships and profits growing for years to come
Whether you’re a small business with limited resources, an established company using a traditional business model, or a hungry start-up who wants a bigger bang for your buck, this comprehensive guide provides a wealth of membership-building options to suit every need.
You’ll learn the best-kept secrets of top industry leaders, from global giants like Am Ex and Weight Watchers to smaller dot-com successes like SurveyMonkey and Pandora. You’ll find proven strategies for creating membership programs for everything from vacation timeshares and car rentals to video streaming and Software-as-a-Service.
Most importantly, you’ll discover what works, and what doesn’t, from some of the key players in the new membership economy. It’s not about ownership; it’s about access, options, and freedom.
When you join forces with your customers, membership has its rewards—for you, your company, and your continued success.