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 School at the University of Pennsylvania, is perhaps the leading expert in the world on how to assess the value of a business by understanding the value of the customer over their entire relationship with an organization from source to completion.
Peter has literally written the book on customer centricity. Well, actually, two books: Customer Centricity: Focus on the Right Customers for Strategic Advantage and The Customer Centricity Playbook which he co-authored with Sarah Toms.
In this episode, we discuss customer-centricity, customer lifetime value and how to use available public data to evaluate a company--using D2C prescription glasses retailer Warby Parker as an example. We also talk about why current accounting standards don't always tell the full story--and how this needs to change.
My final guest of Season Three, Joanna Strober, was the very first guest on the Subscription Stories podcast. Back then, we were talking about Kurbo, the children’s service for WW (that’s Weight Watchers new name). Today, she’s back to talk about her latest venture in direct-to-consumer healthcare, Midi Health. While Kurbo focused on helping kids get to and maintain a healthy weight, Midi is for women at midlife, helping them get better as they get older. You may have noticed my interest in how the way we stay healthy is changing—with guests from Whoop, 30 Madison, Strava, just this season alone. I am fascinated by all of the transformation in the space, as healthcare embraces the concept of a forever transaction. After all, what forever promise is more compelling than more happy, healthy minutes. Healthcare is just embarking on a massive rethinking of how to better align their business models with patient outcomes. Midi is a great example of this. In today’s talk, we cover the consumerization of healthcare and how COVID accelerated the move to digital patient-centric health, the importance of “forever transaction” in treating patients, and the challenges of developing a clear business model in a highly complex environment. Love the show? Subscribe, rate, review, and share! Here’s How » Join the Subscription Stories Community today: robbiekellmanbaxter.com Twitter Facebook ...
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 events available with the new Outside+ membership. By bundling together content, discounts and other benefits, Outside is building a membership that more fully delivers on their promise to inspire active participation in the world outside I recently interviewed Tommy O’Hare, SVP Business Development and Licensing for Outside for the inaugural D2C Summit, a new conference I co-created with Global Media Association, FIPP, and want to share that conversation with you here on the podcast. In this conversation, he shared the journey of rolling up this bundle of benefits to support the goals and challenges of Outside’s most engaged members. I hope you enjoy it. ...
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 successfully scaled VMP to more than $15M in revenue, while establishing the brand as one of the largest DTC vinyl retailers, and one of the most admired and respected brands in music. Joining Robbie Kellman Baxter on the show, Matt shares how he scaled VMP from a labor of love for a few fellow music fans to a multimillion-dollar business, how he operationalized the business without losing the personal touch, and how he recognized when the time was right to step back as founder. Love the show? Subscribe, rate, review, and share! Here’s How » Join the Subscription Stories Community today: robbiekellmanbaxter.com Twitter Facebook ...
