HBR IdeaCast Every Business Can Be a Subscription Business
Jul 21, 2020
Robbie Kellman Baxter, a strategy consultant and author of "The Forever Transaction," delves into the expansive potential of subscription business models. She argues that subscriptions can transform diverse sectors, from local shops to industrial giants, by fostering customer loyalty and ensuring stable revenue. Baxter shares insights on overcoming economic challenges through subscriptions and highlights the necessity for businesses to adapt their strategies for sustained success. With real-world examples, she emphasizes the importance of ethical practices and tailored customer engagement.
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Origin of Interest
- Robbie Kellman-Baxter's interest in subscription models started with Netflix.
- She was fascinated by their recurring revenue and customer-centric approach.
Technology's Role
- Technology facilitates subscription models by enabling better relationships and billing.
- It also makes these models more accepted by consumers.
Exterminator Example
- Kellman-Baxter uses her monthly exterminator service as an example.
- She highlights aligning customer and organization goals, focusing on prevention over reaction.
