Subscription Stories: True Tales from the Trenches

Subscription models are crazy powerful. Savvy small companies can easily deploy them to knock huge Goliaths off kilter. We’ve seen it in entertainment, software, hardware, news, retail, hospitality—the list goes on. In her podcast series, ...more

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13

October 14, 2020 00:34:54
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Vena’s Hunter Madeley on Driving Engagement in a B2B Subscription Business

Vena CEO Hunter Madeley joins Robbie to share best practices learned working at multiple B2B SaaS success stories. They discuss when it does and doesn’t make sense to pull out another company’s playbook, how to onboard for engagement and loyalty in a complex B2B environment, and his concept of “methodology before technology”.   Highlights from this episode:   2:12 - Vena’s Forever Promise and business model 5:00 - The role community plays at Vena 8:29 - PlanToGrow.com - Vena’s hub for community engagement 10:09 - Using a “methodology before technology” mindset to improve the customer’s journey 16:27 - Making sure the software follows through on its Forever Promise to the customer, the buyer, and the user 19:23 - How Vena’s onboarding process begins before the customer makes the purchase 21:50 - Vena’s “time to value” metric 24:00 - Balancing the needs of the salesperson and the customer 25:13 - When focusing on revenue can be counterproductive to creating a Forever Transaction 28:19 - How to analyze data in a productive and unbiased way 31:14 - Robbie’s Speed Round   Hunter's Bio: Since 2019, Hunter Madeley, a serial SaaS entrepreneur, has served as the CEO of Vena. There, he continues his track record of leading transformational growth at some of the cloud’s most important companies. Prior to Vena, he was at HubSpot, where as chief sales officer he led annual revenue growth from $80 million to $600 million in just five years. His 20-year career also includes sales and growth leadership roles at ADP and Salesforce.com.   Links: Hunter’s LinkedIn: https://www.linkedin.com/in/huntermadeley/ Vena: https://www.venasolutions.com/ Robbie’s Book THE FOREVER TRANSACTION: https://robbiekellmanbaxter.com/the-forever-transaction/ Robbie's website: https://robbiekellmanbaxter.com/podcast ...

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12

October 07, 2020 00:40:01
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EA’s Mike Blank on Keeping a “Player First” Mindset within a Subscription Business

Electronic Arts’ Mike Blank joins Robbie to talk about his journey bringing subscription to the world of gaming. They discuss the challenges of subscriptions in the gaming industry, how to encourage consumers to discover new content within the subscription, and how EA offers multiple consumer models to support their “player first” promise. Highlights from this episode: 2:15 - EA’s journey to subscription and why subscription models are particularly challenging in the gaming industry 8:00 - How EA used their “player first” mindset to create a subscription that would not cannibalize their business 11:29 - The importance of giving subscribers a taste of the product that leaves them wanting more 12:50 - EA Play’s ideal customer 16:47 - The metrics EA used to measure success, and the key data point for tracking returning customers 18:58 - Why helping a customer discover more content is so critical in a subscription business 21:53 - How EA shares subscription data across the company without distracting from other “player first” projects. 24:45 - How to tackle pricing in the gaming world and how EA chose its pricing model 30:16 - How to create a subscription that is beneficial from both a business and a “player-first” standpoint 33:29 - Mike’s advice for someone tasked with bringing subscription to a transactional or episodic business 35:51 - Mike’s advice for creating something evergreen within a “hits” or season based industry 37:21 - Robbie’s Speed Round   Mike's Bio: Mike Blank is EA’s SVP of Player Network. In this role, he oversees how the company enables players to connect together, discover games and evolve to new distribution models. Mike is responsible for building teams, providing vision, and helping to invent the next generation of EA including the consumer platform and subscription-based products. Before ...

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11

September 30, 2020 00:41:50
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Impossible Foods’ Jessie Teitz Becker on Creating a New Eating Habit to Save the Planet

Jessie Teitz Becker, the SVP Marketing at Impossible Foods, brings her impressive marketing knowledge and expertise in forming long term recurring revenue relationships to Subscription Stories. She joins Robbie to discuss how Impossible is applying principles learned at subscription companies like Netflix, YouTube and Optimizely, best practices in introducing & building habits with a new product category, and why they launched an “every day” product at special occasion restaurant Momofuku.   Highlights from this episode: 2:17 - The birth of Impossible Foods 4:24 - How Impossible earned its credibility through the famous restaurant empire, Momofuku 6:21 - Why the product, and not the marketing, is the key to creating repeating consumer habits 9:25 - How to build customer loyalty through an “easy out” 12:00 – Impossible Foods’ key to restaurant success: ensuring every employee gets a taste of their meat 15:33 - The milestones and metrics Impossible looks for 18:38 - How COVID rocked the food industry - and what Impossible did to battle it 21:03 - Why Impossible Foods made the jump to direct-to-consumer shipping 23:50 - What Impossible Foods learned from launching their own ecommerce direct to consumer 26:36- The magic of free shipping 29:10 - The ideal Impossible customer 32:45 – Impossible Foods’ loyalty program Taste Place, and how Impossible is building their Forever Transaction 39:26 - Robbie’s Speed Round   Jessie's Bio: Jessie Teitz Becker is a marketing executive based in Silicon Valley. She is currently the Senior Vice President of Marketing at Impossible Foods where she leads the B2B and B2C marketing, insights, and brand marketing teams. Jessie began her career at Netflix in 2000 as one of the first people hired in the marketing department, and eventually rose to interim Chief Marketing officer. She then joined Optimizely, a B2B software ...

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10

September 23, 2020 00:36:09
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Bain’s Stuart Berman on the Power of The NPS Loyalty Forum in Deepening Client Relationships Between Engagements

Bain and Company’s Stu Berman joins Robbie to talk about what makes the Net Promoter System (NPS) Loyalty Forum itself so powerful for the members and for Bain. They also explore how the best organizations build customer-centricity into the fabric of their businesses, a core value of NPS. They discuss the value of creating a private community for senior executives across different companies to meet and discuss, how a subscription can be used to deepen relationships with key customers, and the importance of always listening to your customers first. Highlights from this episode: 4:10 - How the NPF Loyalty Forum remains an open environment for members to speak about their companies without holding back 10:08 - The origin story of the forum - how Fred Riechheld’s book lead to one of the most powerful discussion rooms 12:50 - How the forum has created a community that members never want to leave 15:00 - Subscription as a marketing tool or strategic element 16:17 - The benefits offered by the forum to keep its high-profile members engaged and open 19:20 - Stu gives a look inside the Loyalty Forum and the types of conversations that its members love so much 24:10 - Changes in the world of NPS and securing loyal subscribers over the past decade 28:03 - Stu’s advice for smaller firms and subject matter experts on creating a community around their practice or expertise 31:10 - Robbie’s Speed Round   Stu's Bio: Stuart Berman currently runs the NPS Loyalty Forum at Bain & Company where he works to build forever relationships with customers, employees, and partners. He spent the early years of his career as a management consultant at Bain before becoming General Manager of Intuit’s online store. He then worked ...

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0

September 16, 2020 00:29:47
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charity: water’s MZ Goodman on Bringing Subscriptions to the Nonprofit World

Charity: water’s MZ Goodman joins Robbie to share how she is applying subscription model best practices to a nonprofit. They discuss how MZ leverages content marketing and digital community strategies developed in her work at The New York Times, Glossier and goop to build a donation-based subscription model, how they’ve leveraged a single 20-minute video to raise millions, and how to think about a Forever Promise in the context of engaging donors. Highlights from this episode: 2:00 - The birth of The Spring, charity: water’s subscription program 5:44 - Why a mission is the most important factor for attracting subscribers 7:15 - The importance of building a brand based on quality over charisma 11:00 - How to lure customers in with emotion, and make them stay through strong relationships 15:00 - Why charity: water is allowing subscribers to press “pause” during the COVID-19 pandemic to combat high churn rates 17:26 - Ways for nonprofits to allow members to remain active without opening their checkbooks 19:00 - MZ’s advice for product leaders who want to transition to the nonprofit world 20:24 - the differences between building a community at a news company, a make-up company, and a nonprofit 24:20 - Robbie’s Speed Round MZ's Bio: MZ Goodman is a product and marketing executive with expertise in digital products and subscriptions. MZ began as the Product Management Executive Director for The New York Times in 2007, managing the digital product team as the company first created its online subscription product. From there, MZ joined Ralph Lauren as Product Management Senior Director and was then recruited to join the leadership team at goop. After goop, MZ joined Glossier as Vice President of Digital and Business Insights. She now serves as Senior Vice President of Subscription ...

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8

September 09, 2020 00:33:23
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Emory University’s Dan McCarthy on a New Approach to Valuing Companies

Dan McCarthy, Assistant Professor of Marketing at Emory University’s Goizueta School of Business, joins Robbie to share his expertise on the intersection of marketing and finance. They discuss why customer lifetime value is such an important and misunderstood metric, how to rethink the way companies are valued by the public markets, and what all of this means for subscription businesses. Highlights from this episode: 2:50 - Dan introduces Customer Based Corporate Valuation (CBCV) 4:08 - The importance of knowing your customer data 8:46 - Dan’s time working with CBCV at Blue Apron 12:17 - The importance of focusing on the right metrics 15:18 - The challenges of a physical subscription 17:28 - The cycle of Customer Acquisition Cost (CAC) 24:11 - How COVID-19 has impacted customer behavior 27:44 - Dan’s advice for entrepreneurs 28:36 - Dan’s Advice for academics at the intersection of research and commercial 30:00 - Robbie’s Speed Round Dan's Bio: DANIEL MCCARTHY is an Assistant Professor of Marketing at Emory University's Goizueta School of Business. Among other things, he’s an expert on valuing companies by focusing on the lifetime value of their customers—a novel approach at the intersection of marketing and finance. His approach, which has won him many accolades, is known as “customer-based corporate valuation” (CBCV). His research has been accepted and published in top-tier academic journals, as well as nearly every major financial publication, from HBR to the Financial Times to CFO Magazine. In 2015, he co-founded a predictive analytics company, Zodiac, which was acquired by Nike in March 2018. Dan subsequently co-founded Theta Equity Partners to commercialize his work on customer-based corporate valuation. He earned a BSc, a BS, and a PhD from the University of Pennsylvania. Links: Dan’s LinkedIn: https://www.linkedin.com/in/danielmcc/ Dan’s Website: http://danielminhmccarthy.com/ Dan at Emory ...

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