Subscription-based Business

Advertising in the Subscription-based Business

 

In this latest post from Robbie Kellman Baxter, she explains the difference between ad revenue and subscription revenue, subscription pricing, valuable content, and advertising in a subscription-based business. 

I have always encouraged organizations to choose a lane when it comes to pricing. The power of subscriptions is that they are a good way to price when you’re solving the subscriber’s problem on an ongoing basis.

Subscription pricing aligns the goals of the reader with the ongoing goals of the organization. In advertising models, you might say that the readers are the product and the advertisers are the customers.

Doing both concurrently is problematic, because you’re trying to please two groups with different goals.

Advertisers want eyeballs. So the goal is to attract lots of viewers–maybe with a video about Kim Kardashian, or the day’s most sensational breaking news story.

In contrast, audience revenue is generated through content worth paying for. So it’s going to need to be differentiated content, and perceived of as being valuable, like an analysis of the bond market or the final match of a water polo tournament. It may attract a smaller, more committed audience.”

 

Included in this article:

  • The move from cost per click to cost (CPC) per acquisition (CPA)
  • The relationship between content and advertisements

 

Read the full article, Maybe the Secret to Advertising Is… Subscriptions?, on LinkedIn.

 

How to Turn Your Content into a Subscription-based Business

 

As more people turn to online platforms for education and professional development, how can you share your wealth of experience and knowledge, and turn it into financial revenue through a subscription-based platform? Robbie Kellman Baxter explains how.

For years, learning and development professionals have been talking about the coming transformation of adult learning and particularly professional development within ones career.

What are the best practices? What are the pitfalls?

How can YOU build a membership model and justify subscription pricing for your excellent content?

Understanding the Learning Landscape

The number of options through which to continue to develop and hone professional skills has been growing for the past several years. Several different types of organizations share a forever promise to ‘help people thrive in their careers’.

 

In this article you will learn:

  • Best practices
  • How to layer in value
  • Pitfalls To Avoid

 

Read the full article, How to Build a Subscription Membership Around Your Learning Content, on LinkedIn.

 

How to Build Subscription Revenue

 

Robbie Kellman Baxter shares expert tips on how to build revenue through a subscription business model. 

I’ve been noticing something funny recently.

As I make my rounds being interviewed by podcasters, influencers and subject matter experts, the conversations turn from ‘advice for listeners’ to ‘advice for the host.’

In other words, these solopreneurs, subject matter experts, and social media celebrities are trying to figure out how to build a viable, profitable business around their own community and expertise. They’re not just trying to provide useful information to their audiences–they’re struggling with their own revenue model.

Don’t underestimate the power of the “forever transaction” for small businesses.

Subscriptions can be a powerful tool for virtually any organizations–public, private, big, small, venture-backed, family-owned, non-profit, old, emerging, and across all industries. It can be a particularly effective tool for the smallest businesses.

This week, I presented my work to several hundred small business owners through BNI Global, and was inundated with questions. They wanted to know how to apply the principles to their accounting firms, restaurants, car washes, real-estate businesses and solo-consultancies.

Membership models and subscription pricing work great for most small businesses, subject matter experts and even celebrity influencers.

 

Included in this article:

 

  • Identifying  the value
  • Segmenting the audience
  • The ROI of Free and Freemium

 

Read the full article, How Influencers, Subject Matter Experts and Small Business Owners Can Build Subscription Revenue on LinkedIn.

 

Growth during Times of Isolation

 

Robbie Kellman Baxter provides a few words of encouragement and valuable links that will inspire and motivate.

Now is a good time to sharpen the saw.

Abraham Lincoln is reported to have said “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.”According to recent data from Zuora, only 11% of subscription businesses using their billing platform have seen a decline in members vs 2019.

We all need a little inspiration right now. Whether our business is going well or not.

I’ve been talking with subscription executives that are worried and pulling back for sure. But many subscription businesses are growing, and practitioners working in those companies, the product managers, marketers, customer success teams and sales organizations, are busier than ever.

Organizations are dealing with new demands, and a new environment, which requires pivoting and fresh ideas. Those of us who are seeing a slowdown in business and in “to do” lists, are thinking about how things will be different in the foreseeable future.

 

Free includes:

  • A Financial Planning Marketing playbook
  • Leading Learning
  • Read to Lead
  • Glambition

 

Access links and read the full article, Sharpening the Saw for Subscription Practitioners & Entrepreneurs–FREE STUFF, on LinkedIn.

 

Customer Care during a Crisis

 

Robbie Kellman Baxter explains why the customer relationship is even more valuable and volatile during times of crisis and provides six practical steps you can take to maintain  strong customer relations.

Subscription-based businesses seem to be the most resilient during this time of crisis. With predictable recurring revenue, they have greater flexibility to withstand the storm. But there’s more to it than just revenue. To hang onto customers during a crisis, you need to build a forever transaction with the people you serve. 

Around the world, everyone is adjusting to their own personal “new normal.” They’re sheltering in place. They’re worrying about the elderly and immunocompromised in their community. Their kids are distance learning and not going to school or childcare. Most people, except those on the front lines and in essential businesses, are working from home. And many of those who own or run businesses are trying to hang onto their customers when seemingly all forces are working against them.   Smart marketers know they can kill their brand if they screw this up.

 

The six steps include:

  • The focus on the forever promise
  • Determining your best members
  • Expanding customer success
  • Learning from frontline team members
  • Placing the customer at meetings
  • Identifying the customer challenges

 

Read the full article, How to Hold onto Your Customers in a Crisis – and for the Long Term, on LinkedIn.