Subscription Stories: True Tales from the Trenches

In this insightful chat, Braeden Russell, Director of Pricing for American Home Shield, dives into the intricacies of pricing strategies for home warranties. He discusses how to balance the needs of realtors gifting coverage to new homeowners with those of the homeowners themselves. Russell explains the importance of adapting pricing models over time and explores the shift between B2B and B2C strategies. With engaging anecdotes, he emphasizes customer trust, retention, and even shares a fun speed round on favorite foods!

Katie Vanneck-Smith, the CEO of Hearst UK, shares her expertise in transforming magazine subscriptions into rich membership experiences. She delves into creating emotional connections with audiences through tailored membership strategies. The conversation touches on the impact of generative AI on publishing, contrasting the ongoing promise of news with the unique offerings of specialty content. Vanneck-Smith emphasizes the importance of community engagement and the need for leadership to connect directly with customers to foster loyalty.

Venessa Yates, Senior Vice President and General Manager of Walmart+, shares her insights on transforming the membership landscape at Walmart. She discusses the program’s innovative strategies to enhance consumer value and engagement, particularly during its evolution amid the pandemic. Venessa reveals how strategic partnerships with companies like Exxon and Expedia enrich member offerings. Additionally, she emphasizes the importance of inclusivity and employee feedback, highlighting Walmart's commitment to accessible benefits for all.

Budgets are tight and competition to get and keep subscribers has never been more fierce. But what if I told you that there was a way to nudge your prospects and subscribers to help them engage more deeply and rapidly? It's possible. Today's guest, Nancy Harhut, has a wealth of easy and inexpensive tactics that can motivate your members to do the right thing at the right time. Nancy is the author of Using Behavioral Science in Marketing and Chief Creative Officer at HBT Marketing. In this special live episode, which was recorded at the SubSummit conference in Dallas, Texas, you'll learn how behavioral science can help you get more from your marketing spend, how to use tools like scarcity, social proof and choice architecture to acquire, engage, and retain your subscribers, and the role of emotion on motivating subscribers to act.   Love the show? Rate us ⭐️⭐️⭐️⭐️⭐️ and leave a review on Apple Podcasts! Here’s How » Join the Subscription Stories Community today:     robbiekellmanbaxter.com Twitter Facebook Robbie Kellman Baxter on Instagram Subscription Stories: True Tales from the Trenches on Apple Podcasts

One of the hottest growth areas for subscriptions is farming. Surprising? Maybe. But with small margins and big numbers, efficiency matters. And farming has become an increasingly high tech, high stakes business. Justin Rose is the President of Lifecycle Solutions, Supply Management, and Customer Success at John Deere, a 187 year old company with revenues in 2023 of over 61 billion dollars. You probably know them for their tractors, but they're investing heavily in subscriptions. In today's conversation, Justin and I talk candidly about why this manufacturing company has committed to reaching 10% of annual revenue in software subscriptions by the year 2030, the right and wrong way to accelerate transformation through acquisition, and how to maintain the trust of long standing customers when you change the business model.   Love the show? Rate us ⭐️⭐️⭐️⭐️⭐️ and leave a review on Apple Podcasts! Here’s How » Join the Subscription Stories Community today:   robbiekellmanbaxter.com Twitter Facebook Robbie Kellman Baxter on Instagram Subscription Stories: True Tales from the Trenches on Apple Podcasts

Many subscription entrepreneurs lament their lack of fancy software and dashboards to allow them to better manage their business. But if you know your ideal member and understand their pain points, and if you're always tinkering and adjusting your offering to better align with the needs of those members, you can build a powerful recurring revenue business. Even as a solopreneur, this week's guest, James Schramko has developed a unique model to help consultants and experts earn more while working less. And while he has been an early adopter of technology, many of the tools and tactics are flexible enough to be used by large or even very small businesses. More importantly, James has succeeded in building his subscription-based business by focusing on his members and their desired outcomes. Ultimately, membership is about trust and relationships, and James is an expert in both. In today's conversation, you'll learn why bundling too much into your subscription can cost you members, how to use technology to support a global community, and why a tiered ascension model sometimes leaves money on the table.    Love the show? Rate us ⭐️⭐️⭐️⭐️⭐️ and leave a review on Apple Podcasts! Here’s How » Join the Subscription Stories Community today: robbiekellmanbaxter.com Twitter Facebook Robbie Kellman Baxter on Instagram Subscription Stories: True Tales from the Trenches on Apple Podcasts

One of the great mysteries for me is why so many otherwise sophisticated companies don’t focus on involuntary churn. Also known as passive churn or accidental churn, involuntary churn happens when a payment issue raises a flag that causes a merchant to cancel a customer’s subscription. In 70% of these cases, there is no fraud, so the company is literally turning away excellent customers. Involuntary churn routinely impacts about 10% of Annualized Recurring Revenue (ARR), according to some estimates. In today’s episode, Vijay Menon, founder and CEO of Butter Payments, and I discuss what drives involuntary churn, why so many companies underinvest in this problem, and some key tactics to drive revenue growth through better payment management.   Love the show? Rate us ⭐️⭐️⭐️⭐️⭐️ and leave a review on Apple Podcasts! Here’s How » Join the Subscription Stories Community today: robbiekellmanbaxter.com Twitter Facebook Robbie Kellman Baxter on Instagram Subscription Stories: True Tales from the Trenches on Apple Podcasts  

Loyalty programs seem to be at a crossroads. Industries including hospitality, financial services, and retail are going beyond the points-based programs we're so familiar with and exploring more personalized, emotionally engaging programs. Some, like CVS, Inspirato, and of course Amazon with Amazon Prime have even incorporated paid loyalty subscriptions which provide benefits in exchange for an annual fee instead of requiring customers to earn benefits through their spending and behaviors. Today's guest, Nadia Popova of Euromonitor International, follows the loyalty trends and provides insights across industries regarding best practices in building long-term relationships with customers. In this wide-ranging conversation, we talk about how consumer expectations have changed since COVID, why personalization is so important, and where subscriptions fit in the broader loyalty landscape.   Love the show? Rate us ⭐️⭐️⭐️⭐️⭐️ and leave a review on Apple Podcasts! Here’s How » Join the Subscription Stories Community today: robbiekellmanbaxter.com Twitter Facebook Robbie Kellman Baxter on Instagram Subscription Stories: True Tales from the Trenches on Apple Podcasts  

Loyalty programs have been around forever. Points, cashback, branded credit cards, and now increasingly, we're seeing paid subscription loyalty programs, like Amazon Prime or CVS Care Pass. The goal is the same, to smooth out the lumpy buying behavior common in consumer packaged goods, retail, and hospitality, and to drive habits and engagement. Today's guest, Justin Honaman, leads the worldwide retail and CPG go-to-market team at Amazon Web Services. He also hosts the popular podcast, ContenderCast, where I was a guest a few years ago. In this conversation, Justin and I talk about the changing landscape of loyalty programs, why loyalty is so important right now, and what's driving the rise in these subscription programs.   Love the show? Rate us ⭐️⭐️⭐️⭐️⭐️ and leave a review on Apple Podcasts! Here’s How » Join the Subscription Stories Community today: robbiekellmanbaxter.com Twitter Facebook Robbie Kellman Baxter on Instagram Subscription Stories: True Tales from the Trenches on Apple Podcasts  

Building a new subscription model in a large, successful company is hard enough, but when your company's core competency is manufacturing and the subscription involves content and software, you have to do more than build the new business model. You have to change the way the organization thinks about product management. With experience, both at PlayStation and at Ford, today's guest, Ross McGregor, will shed light on how to build a service orientation across a product team. Something critically necessary if you're going to build a forever transaction with your customers. In this conversation, he talks about how to put together the business case that merits a strategic bet on subscriptions, how to build support across the organization from the beginning, and when it's time to scale the experiments.   Love the show? Rate us ⭐️⭐️⭐️⭐️⭐️ and leave a review on Apple Podcasts! Here’s How » Join the Subscription Stories Community today: robbiekellmanbaxter.com Twitter Facebook Robbie Kellman Baxter on Instagram Subscription Stories: True Tales from the Trenches on Apple Podcasts