When I first started talking about the Membership Economy, there just weren’t that many academics or researchers interested in studying the power of customer retention. That’s why I’m really happy to see some of the best minds in finance, strategy and marketing today are thinking about how to build, and measure durable relationships between organizations and the people they serve. Today’s guest, Eva Ascarza, is the Jakurski Family Associate Professor of Business Administration at the Harvard Business School. Her primary research subject is customer management (with special attention to the problem of customer retention). That’s good news for all of us building subscription businesses. In today’s discussion, we talk about the right metrics to measure and improve customer retention, how to use pattern recognition to predict which customers will be most valuable, and why cohort-based analysis is so important.
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...
Growing a business takes a lot of effort and time investment. So when the time comes to exit, it would be a waste not...
With subscription models, acquisition is only the starting line. Organizations need to develop competence around onboarding new members, driving engagement, and expanding the relationship...