subscription business

New Ways to Provide Inspiration, Connection, and Education

 

As we begin to consider the far-reaching and long-lasting impacts of the current pandemic, Robbie Kellman Baxter thinks ahead and shares her thoughts on the future of live gatherings and how that will affect a wide range of institutions, organizations, and individuals.

A few weeks ago, Facebook announced they’re canceling any large physical events with 50 or more people through June 2021. (Some they’ll hold as virtual events.) Microsoft announced something similar. Many organizations are allowing no business travel through at least June of this year.

 It looks like many organizations are going to be “virtual only” for at least another year.

And if businesses are being cautious, consumer gatherings are likely to be limited as well. What does that mean for sports, concerts, museums, theaters, theme parks and cruise ships? Industries most hard hit by the ban on large live gatherings include education, conferences, entertainment (sports, theater, concerts, amusement parks, museums, zoos) and travel.

 

Included in this article:

  • Re-engineering virtual events
  • Online content to maintain and deepen relationships
  • Four ideas to help you move forward

 

Read the full article, “The Future of Live Gatherings and What it Means for Your Forever Transactions”, on LinkedIn.

 

How the Freemium Tactic Works

 

Robbie Kellman Baxter identifies what ‘freemium really means’, how it can be used as a tactic, and the role of freemium in both ordinary and extraordinary times. 

Lots of organizations, particularly subscription businesses, are changing their rules about what is free and what is paid, in response to the coronavirus.

The Atlantic, The Wall Street Journal and Bloomberg News are a few of the many publishers that have removed the paywall in front of coronavirus-related content. In other words, non-subscribers have access to articles relating to the pandemic and impending financial meltdown.

News isn’t the only industry that is giving away more than usual during this time of crisis.

Fitness organizations, like Orange Theory are live streaming classes that were formerly in-person, for members only.

Hello Core is offering free meditation classes to the public 3x/day through Instagram Live.

Zoom Communication CEO Eric S Yuan is expanding the features available on free accounts for K-12 educators.  

Many of my clients are asking what they should be giving away–a difficult choice in a time when many businesses are desperate for short-term revenue to avoid mass layoffs and ‘keep the lights on’.

 

Points covered in this article include:

  • The difference between free trial and freemium
  • Viral freemium models
  • Customer engagement and retention

 

Read the full article, In Crisis, What Should Be Free(mium)?, on LinkedIn.

 

How to Attract and Retain Subscription Members

 

Robbie Kellman Baxter explains what a subscription business can do to mitigate customer loss and generate customer gain through attraction and retention strategies.

‘Millennials aren’t joiners.’ ‘Millennials don’t pay for news.’ ‘Our customers love us, but the average age is going up. It seems like millennials just aren’t interested.’

These are statements I hear all the time from membership organizations that have been around for a few decades or more: professional associations and trade groups, religious institutions, newspapers, gyms, and country clubs. Having some success under your belt is both a blessing and a curse. What you’re doing seems to be working, so you keep doing it. But let complacency take hold and you’re doomed. When businesses can’t attract new members, they die a slow death as old members age out.

The problem is two-fold. One, if you don’t evolve your offerings and communication strategy, new prospects will find your company ‘old fashioned’ or ‘not for me.’ Two, you might mistake inertia for loyalty: those members are still with you out of habit, and when new competitors come along they suddenly realize someone else can better meet their needs.

 

Points covered in this article: 

  • Common mistakes made by old and new subscription businesses
  • Tips to reinvention
  • Self-disruption as a strategy
  • The benefits of paranoia

 

Read the full article, Walking the Generational Tightrope: How To Keep Older Members Happy and Also Draw In Younger Ones, on LinkedIn.

 

The Cost of Free

February 18, 2020

 

Robbie Kellman Baxter explains why a free trial is not always the best tactic and identifies three  reasons a subscription business isn’t attracting new members.

Recently, a CEO of a major professional association asked me what I thought of a 30 day free trial for new members.

He worried that potential members would sign up for the free trial, binge the value in that free period and then cancel without paying. But his board was concerned that not enough people were joining and thought a free trial could be the solution.

In this case, I agree with the CEO, not the board, about offering a free trial. Here’s why.

A free trial is a taste of the best you’ve got, which you offer because either:

 

  1. They don’t understand what it tastes like
  2. They don’t believe it tastes as good as you say

 

Read the full article, “Free”​ Is a Tactic, not a Strategy, on Linkedin.