Subscription Stories: True Tales from the Trenches

Most subscription-based businesses focus too much on acquisition and not enough on retention. But actually retention improvements are usually more effective, both for total revenue AND profitability. Today’s guest Patrick Campbell couldn’t understand why so many organizations weren’t doing the math, and so he started his company Profitwell to help companies better manage churn. Patrick says you ha...

Nearly every industry can benefit from joining the Membership Economy, and most industries have great examples of subscription-based organizations. One of the slowest movers has been the healthcare industry and for good reason. There's so much complexity to delivering health outcomes—as well as great risk. And that's why I'm so excited about this episode of Subscription Stories. Today's guest, Mat...

Even though people think of me as a subscription person, I always say that for me, subscriptions are simply a tactic. Subscriptions force companies to better align their pricing with performance. If the subscriber doesn’t perceive ongoing value, they cancel the subscription…so it becomes the organization’s responsibility to ensure that the customer is achieving the desired outcome. That’s the real...

Bob Baxley is a design executive who lives and works in Silicon Valley. He currently serves as the Senior Vice President of Design & Experience at ThoughtSpot, a business intelligence and data analytics platform. Prior to ThoughtSpot, Bob was Head of Product Design at Pinterest where he built, led, and managed a multifaceted design team responsible for both the consumer and business facing ele...

Mayur Gupta  is the Chief Marketing and Strategy Officer at Gannett – USA Today Network . He is responsible for leading the transformation of Gannett into a subscription platform that is obsessed with user value and not just site traffic.   Mayur is responsible to actualize Gannett’s mission to build trusted local communities where people thrive. This is not his first time driving growth among sub...

In March of 2020, travel as we knew it abruptly ground to a near standstill. First cruise ships were docked, and then air travel quickly became limited to very special cases. Hotels stood empty except for those that held people in quarantine and the health care workers who cared for them. I think it’s fair to say that no industry has changed more as a result of COVID than travel. Today’s guest, Ra...

Customer-centricity is essential in the world of subscriptions. To succeed you have to understand who your most valuable customers are, and invest your resources in those relationships. But measuring the value of each customer over an extended period of time, and understanding which metrics matter most, can be tricky. Peter Fader, the Frances and Pei-Yuan Chia Professor of Marketing at the Wharton...

Bundles are a hot topic right now and Outside+  is a fascinating example. A few months ago, the Outside Magazine organization announced they were welcoming 20 new publications including Trail Runner, Velo News and Yoga Journal to their family. More recently, they launched a suite of new features such as training plans & workouts, access to the Gaia GPS Premium app and discounts for outdoor eve...

There is no bigger topic when it comes to consumer sentiment than the rising demand and focus on Environmental, Social, and Corporate Governance related issues. Today we’re looking at this challenge from the perspective of a leading VC who has invested in some of the most iconic consumer focused, mission driven businesses.   Ira Ehrenpreis  has been investing in companies that are committed to mak...

The ability to tell a good story is valuable—and not only when the story is the product, as it is in journalism. Stories can build understanding, trust and connection with members, prospects and investors alike. Storytelling is an important skill in the Membership Economy, and GoodTrust  Co-founder Daniel Sieberg  is a fantastic storyteller.   Daniel Sieberg started his career as a journalist, and...

Mindful.org  is dedicated to a very specific goal--sharing the gifts of mindfulness through content, training, courses, and directories— and helping people enjoy better health, foster more caring relationships, and cultivate a more compassionate society.   Because of that core focus, Mindful has been able to develop deep expertise about how people want to engage in mindfulness--expertise which has...

Since The Membership Puzzle Project (MPP)  launch in May 2017, they have studied, advised, and supported more than 100 newsrooms around the world, from Akron, Ohio, to New Delhi, India as they make the transition to a member-driven newsroom. In this conversation I’m talking with Ariel Zirulnick , who runs MPP's Membership In News Fund, which supports these exceptional experiments with.   I recentl...

Just over 10 years ago, I had my first conversation about the idea that would become Strava with serial entrepreneurs Mark Gainey  and Michael Horvath . They talked to me about their bold objective of building the world's largest community of athletes.   Since then, they've achieved that goal, touching over 90 million athletes and logging over five billion activities across more than 30 sports in...

As we wrap up Season 2, we’re reflecting on the amazing guests we had, and all of the wisdom that was shared.   We covered best practices in pricing, scaling and supporting your subscription offering, and did deep dives on what membership means at organizations including CrossFit, Nike and YPO.   Take a listen to this 5 minute short, to hear about them all.  We’ll be back with new episodes this fa...

Much has been written about the so-called "Streaming Wars." The market for streaming video content is crowded with players, each with unique strengths - from Netflix's digital native, early adopter status, the platform power of Apple and Amazon, to the highly specific and valuable content of niche players like Crunchy Roll or the History Channel, whom we recently profiled on this show. Anyone inte...

Pricing is one of the trickiest parts of building a successful subscription model. You want to make the model simple, transparent and easy-to-understand, but you also want it to be optimized for each customer, and of course to maximize revenue and profitability. It can be tempting to offer multiple tiers for different use cases, as well as promotions and add-ons. Before you know it, you have a com...

Launching something new is always tricky. It can be especially challenging be entrepreneurial inside a global brand like Nike. You want to align with the broader goals of the organization while also staying nimble and creative. When you’re also introducing subscription models into a transactionally oriented organization, the stakes are even higher. Dave Cobban  spent over 12 years at Nike , many w...

Some businesses today give products and services for free to entice customers to purchase more. However, a huge number of entrepreneurs distance themselves from giving away a freemium offering because of the risks of decreased revenue. But for Elena Verna , Reforge  EIR and Partner, this must not be the mindset. Sharing her work in Survey Monkey and Malwarebytes, she explains to Robbie how every b...

How much content is too much? If you have really honed down to your ideal audience, the answer is there will never be enough. Indeed, you have to practically create a content machine to support the needs of your avatar because they would simply love it! With an uncanny stroke of genius, John Lee Dumas  solved this problem early in his podcasting career. An avid podcast consumer himself, he identif...

Now that you have launched your subscription model, it’s time to operationalize your business. For this, you will need a real team, systems to support your processes, and metrics to let you know how the business is doing. This episode’s guest, Matt Fiedler , is the co-founder and chairman at Vinyl Me, Please , a record of the month club and online record store. After launching in 2013, Matt succes...

Most subscription entrepreneurs initially are attracted to the model for its predictable recurring revenue, but there are other benefits to having an ongoing relationship with members. Alli Harper  works at the intersection of subscription eCommerce and social impact. Dedicated to the advocacy of promoting diversity in the picture book industry, Alli is building OurShelves , a scalable enterprise...

McKeel Hagerty  is the CEO of  Hagerty , a specialty provider of classic car insurance and lifestyle company headquartered in Traverse City, Michigan. The company has become well-known for the tremendous loyalty of their policyholders, who feel a kinship with the brand and its forever promise of helping classic car enthusiasts get the most enjoyment from their passion. Host Robbie Kellman Baxter m...

As subscription organizations scale, one of the trickiest challenges they face is entering international markets. While they often focus first on things like managing local currency, translating copy into local languages, and ensuring compliance with local regulations around privacy, securities and recurring billing, these tactical steps are only table stakes. It takes much more than that to truly...

With subscription models, acquisition is only the starting line. Organizations need to develop competence around onboarding new members, driving engagement, and expanding the relationship to maximize customer lifetime value. A whole new discipline has grown around this idea of "customer success," often replacing customer support, and with a radically different focus. Customer success is about proa...

In mid-2020,  Eric Roza  bought  CrossFit, Inc.  from CrossFit Founder and former CEO, Greg Glassman. The sale was first announced on June 24, 2020, just a few weeks after Glassman had resigned as CEO amidst a swirl of controversy. Eric took over as CEO at a critical time for a membership organization known for its cult-like following and devoted members. He brings tremendous experience and passio...