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255: Robbie Baxter, author of The Forever Transaction

Robbie Kellman Baxter, author of The Forever Transaction: How to Build a Subscription Model So Compelling, Your Customers Will Never Want to Leave

Robbie Kellman Baxter and Bill Ringle discuss The Forever Transaction for small business leaders.

>>> Visit MyQuestforTheBest.com for complete show notes and more expert advice and inspiring stories to propel your small business growth.

Top 3 Take-Aways from this Interview

  • Loyal customers agree to subscription payments and sharing of personal data in exchange for a promise of huge value.
  • Customer retention, rather than customer acquisition, should be the top priority in a membership strategy.
  • We are seeing more and more consumers establishing these “forever transactions” with their favorite companies. To delay preparations or miss this opportunity is to loose these customers to competitors.

Tweet-Ready Insights from this Episode

The Forever Transaction is that moment when customer takes off their consumer hat and puts on the member hat and stop looking for alternative.>> #MQ4B Ep255 with Robbie Kellman Baxter (@robbiebax), author of The Forever Transaction Click To Tweet Organizations can provide this sense of belonging and esteem, driving customers to become members, truly committed to the brands they love.>> #MQ4B Ep255 with Robbie Kellman Baxter (@robbiebax), author of The Forever Transaction Click To Tweet Your whole organization needs to be focused on the constantly evolving needs of your target customers as it relates to your mission.>> #MQ4B Ep255 with Robbie Kellman Baxter (@robbiebax), author of The Forever Transaction Click To Tweet The transaction is the starting line, not the finish line, in your relationship with customers.>> #MQ4B Ep255 with Robbie Kellman Baxter (@robbiebax), author of The Forever Transaction Click To Tweet Retention drives referrals, learning and lifetime customer value.>> #MQ4B Ep255 with Robbie Kellman Baxter (@robbiebax), author of The Forever Transaction Click To Tweet The acquisition funnel should actually be an hourglass, with revenue growing after the point of transaction.>> #MQ4B Ep255 with Robbie Kellman Baxter (@robbiebax), author of The Forever Transaction Click To Tweet Be willing to keep changing your products and services to keep them happy, and make sure they know.>> #MQ4B Ep255 with Robbie Kellman Baxter (@robbiebax), author of The Forever Transaction Click To Tweet Keep creating new opportunities for your engaged customers to increase engagement.>> #MQ4B Ep255 with Robbie Kellman Baxter (@robbiebax), author of The Forever Transaction Click To Tweet Your mantra should be to keep it simple and get to market with the minimum footprint.>> #MQ4B Ep255 with Robbie Kellman Baxter (@robbiebax), author of The Forever Transaction Click To Tweet The biggest risk is that you are so focused on short term revenue that you risk losing your humanity.>> #MQ4B Ep255 with Robbie Kellman Baxter (@robbiebax), author of The Forever Transaction Click To Tweet Take a quick step back, refocus on your forever promise, and launch a strategy that will carry you through these tough times.>> #MQ4B Ep255 with Robbie Kellman Baxter (@robbiebax), author of The Forever Transaction Click To Tweet An organization that has a strong, positive relationship with its members is able to use that loyalty to grow as members recommend the enterprise to others and to resist competitive threats.>> #MQ4B Ep255 with Robbie Kellman… Click To Tweet

Interview Insights

Read the Show Notes from this Episode

  • The essence of the Forever Transaction inside the context of the membership business model [1:40]
  • Robbie discusses how Apple build key components to membership economy [3:50]
  • Robbie talks about membership for start-ups and small companies [6:30]
  • How to create a type of membership offering [9:00]
  • Robbie cites actual companies that embrace the membership economy [10:18]
  • How cannibalization can affect your business model [12:42]
  • Robbie discusses how important it is to find out what people are willing to pay for [18:20]
  • Robbie explains another benefit of memberships is eliminating the middleman so you can own the relationship [18:57]

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Expert Bio

Robbie Kellman Baxter brings over twenty years of strategy consulting and marketing expertise to Peninsula Strategies, her strategy consulting firm focused on helping companies leverage subscription pricing, digital community and freemium to build deeper relationships with customers. Her clients have included start-ups and mid-sized venture-backed companies as well as industry leaders such as Netflix, Oracle, Electronic Arts and eBay. Over the past 18 years, Peninsula Strategies has advised over 100 organizations in over 20 industries on growth strategy.

A sought-after writer and keynote speaker, Robbie has presented to alumni organizations at Stanford, Harvard and Haas, associations including the AICPA, the American Society of Association Executives, and the National Restaurant Association and organizations including the Wall Street Journal, and Coursera. She has been quoted on business issues in the Wall Street Journal, The New York Times, and Consumer Reports, and has had pieces published in HBR.org, CNN.com, Associations Now and the Journal for Quality & Participation. Robbie has created and starred in eight video courses in collaboration with LinkedIn Learning on business topics ranging from innovation to customer success and membership. Robbie is also on the board of Amava, an organization dedicated to helping people stay active and engaged post-career.

As the author of The Membership Economy: Find Your Superusers, Master the Forever Transaction & Build Recurring Revenue, a book that has been named a top 10 marketing book of all time by BookAuthority, Robbie coined the popular business term “Membership Economy”, which is now being used by organizations and journalists around the country and beyond. Robbie’s expertise with companies in the emerging Membership Economy extends to include SaaS, media, consumer products and community organizations. Her new book, The Forever Transaction: How to Build a Subscription Model So Compelling, Your Customers Will Never Want to Leave, releases in March, 2020.

Prior to launching Peninsula Strategies, Robbie was a strategy consultant at Booz-Allen & Hamilton, a New York City Urban Fellow and a Silicon Valley product marketer. Robbie received her MBA from the Stanford Graduate School of Business and graduated with honors from Harvard College.

Contact Info for Robbie Baxter

Web address: https://robbiekellmanbaxter.com/

Travels from: San Francisco Bay Area, CA

Social Media Links

​Books Authored by Robbie Baxter

Resources Mentioned During the Interview

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