Customer Success Secrets to Transform Your Subscribers from a Series of “One Night Stands” into Members for Life

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Customer Success Secrets to Transform Your Subscribers from a Series of “One Night Stands” into Members for Life

Customer success determines retention rates in the membership economy. If your member does nothing with what you sell her, she’s going to cancel your subscription.
The old model of leaving it up to your customer to figure out how to get value from what you sell may have worked in the old one-and-done product sale world.
Your membership and subscription growth is determined by how well you ensure customer success. It involves helping your members find a lifetime value in subscribing to your product or service. I refer to it as turning your subscribers into a vibrant tribe of followers. And, it starts with how you attract your them.Continued

Subscription Business Secrets of a Successful CEO/Founder/Harvard MBA to Launch a Membership in a Hyper Competitive Industry

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Subscription Economy Secrets of a Successful CEO/Founder/Harvard MBA to Launch a Membership in a Hyper Competitive Industry

While pet owners enjoy spending money on their pets, the pet supply business is already crowded, cluttered and challenging to break through. But, with a keen eye to opportunity, Deena Bronz discovered an underserved group of customers that were a perfect fit for the subscription economy.
Deena Bronz is the co-founder of KitNipBox, a curated monthly box of cat products, including toys, treats, accessories and even Halloween costumes. Deena shares her advice for finding the right product or service to offer, building a community for the members, and focusing on retention. Continued

Discover Subscription Sales Secrets From the #1 Sales Engine for the Subscription Box Industry

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Discover Subscription Sales Secrets From the #1 Sales Engine for the Subscription Box Industry

Within the middle of the huge subscription box boom is one person with a single website, MySubscriptionAddiction.com. Started from an obsession of subscription boxes, it’s become the single largest affiliate for almost all subscription boxes today. And, because their editors create so many unboxing videos, get feedback from followers and see what works from a sales promotion perspective, MySubscriptionAddiction.com is the perfect place to learn what’s working in subscription marketing today. Liz Cadman, founder of MySubscriptionAddiction.com, is one of the best sources for insight into success in the subscription economy. MySubscriptionAddiction.com provides reviews and a directory of subscription boxes. They publish unboxing experiences and feature customer reviews to a growing and eager audience of subscription box enthusiasts. Her website currently averages a million visitors a month, with over 10 million pages viewed each month. MySubscriptionAddition.com followers are the most informed and motivated subscription buyers today. According to Liz, the average … Continued

Four Lady Gaga Marketing Secrets to Increase Your Recurring Revenue

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Four Lady Gaga Marketing Secrets to Increase Your Recurring Revenue

You may not like Lady Gaga’s music, outlandish fashion choices, or her lewd stage performances, but she’s grown her following so strong that she’s now called the “Queen of Pop.” And watching her this year on the Super Bowl halftime performance, it’s easy to forget that she signed her first record deal in 2007. This rise from complete obscurity to rock icon happened in less than 10 years. Lady Gaga’s current success also obscures the relentless work she put into building fans into a vibrant tribe she calls “Little Monsters.” I recently discovered the book “Monster Loyalty” by Jackie Huba, which details Lady Gaga’s efforts to build her career by a relentless focus on growing her community. I highly recommend this book to anyone interested in building a membership, subscription business, or cause. In her book, Huba describes seven community-building lessons that Lady Gaga uses to grow her following. Here … Continued

Four Reasons Subscription Boxes Fail and How to Grow Your Subscription Recurring Revenue

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Four Reasons Subscription Boxes Fail and How to Grow Your Subscription Recurring Revenue

Subscription business are growing 19 times faster than the S&P 500. The most obvious attraction to entrepreneurs is the subscription recurring revenue. This makes the subscription economy the single fastest-growing business model today. And within the subscription economy, the fastest-growing segment are subscription boxes. With new subscription box offerings each week, the segment has grown by more than 50 percent in just the last few months.

Subscription boxes are hot. Even Walmart is looking at getting into the game by meeting with Birchbox. The rumors are swirling that Walmart will buy Birchbox to get into the subscription business themselves. Continued

Perry Marshall Interviews Robert Skrob Revealing Three Secrets of Launching a Subscription Business That Grows

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Recurring revenue is the single biggest growth factor and stability for businesses today

Recurring revenue is the single biggest growth factor and stability for businesses today. Rather than having a revenue that is dependent on individual transactions, subscription revenue grows as you add new subscribers to the continuing revenue from subscribers that were added last month, and the month before. Yet, many subscription businesses struggle and fail.

Perry Marshall, one of the world’s most expensive and sought-after business consultants, endorsed by FORBES, INC Magazine, and the most respected marketers in the world, recently interviewed Robert Skrob about the subscription economy. In addition to a wealth of information and advice for the subscription economy, Robert revealed what subscription businesses must do to grow recurring revenue including: how to launch a new subscription business to generate recurring revenue, how to generate new subscribers, and how to onboard new members to increase lifetime customer value. Continued

Believe It or Not, You Can Grow Your Recurring Revenue Without Adding New Members, Plus Enjoy These Advantages

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Believe It or Not, You Can Grow Your Recurring Revenue Without Adding New Members, Plus Enjoy These Advantages

I have two clients that add, on average, the same number of members each month. One client just came on board, and has been holding steady at a respectable 15,000 members for the last three years. My other client has been with me for three years and is at over 50,000 members. The only difference between these two memberships is the rate at which members quit their subscription, and this directly impacts their recurring revenue.

Subscription Business Experts Reveal What It Takes to Grow Your Monthly Recurring Revenue

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Subscription Economy Experts Reveal What It Takes to Grow Your Monthly Recurring Revenue

The Membership and Subscription Growth Podcast is now on iTunes, Google Play, and Stitcher! This podcast will help you attract new subscriber members, keep them longer and grow a vibrant tribe. You’ll learn easy-to-implement shortcuts for fast membership and subscription growth. You’ll discover how to get more new members to join and what to deliver that improves membership retention and creates membership growth. You’ll discover the best membership practices, proven retention strategies and unique insight into the membership and subscription economy from some of the most successful entrepreneurs in the subscription economy and membership economy, including specialized information publishers, associations, subscription boxes, digital subscriptions, SaaS, loyalty programs and more. My mission is to serve you with the most current and useful information available. Each of the episodes will include a summary on my blog page with a link to the podcast and the interview transcript. You’ll receive an abundance of … Continued

Reduce Your Monthly Failed Charges So You Collect More Recurring Revenue

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Reduce Your Monthly Failed Charges So You Collect More Recurring Revenue

Subscription businesses benefit from the advantage of recurring revenue. Acquire new members and keep your existing ones. Sounds simple, right? We understand it’s not that easy. How do you keep your recurring revenue if your members’ credit card charges are declined? When you charge the credit card that you have on file, send the product or service, and then find out the charge was declined, that’s called involuntary churn. And, it sucks. It sucks out your revenue, and the hassle often sucks out the member’s subscription. I met with Paul Larsen to discuss this challenge. In addition to a lengthy list of credentials and experience, Paul is the owner of PaulLarsenConsulting.com, a company with a focus on helping businesses conquer involuntary churn and increase their recurring revenue. You see the recurring revenue of your existing members decreasing at a rate higher than your churn. This is what happens with involuntary … Continued

How To Seize The Membership Economy Opportunity To 5x Your Company

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HOW TO SEIZE THE MEMBERSHIP ECONOMY OPPORTUNITY TO 5X YOUR COMPANY

Why would your company want a member instead of a customer? Studies show the valuation of companies in the membership economy are anywhere from five to 10 times the size of similar companies which use transactions. That’s according to Robbie Kellman Baxter, author of The Membership Economy. Baxter is a Silicon Valley marketing consultant whose clients have included Survey Monkey, Netflix, Yahoo, Oracle and eBay. I recently talked with Robbie about what she calls “the forever transaction,” a customer who sticks with you forever. You will learn insights she’s gained from advising nearly 100 organizations on growth strategy. Long-term members give entrepreneurs a more predictable cash flow, says Baxter. Also, companies are able to invest more time and money to acquire a new member than they could for a one-time sale. “So many transaction-based companies invest in acquisitions, and then don’t retain the customer,” Baxter says. “They’re on a constant … Continued