Business revolution: What is the membership economy?

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  • “I think that the membership economy is having as big an impact on business as the industrial revolution,” says Silicon Valley consultant Robbie Kellman Baxter.
  • Memberships or subscriptions fundamentally change the relationship between the consumer and the brand by delivering what Baxter calls a “forever promise.” The famous example of Blockbuster vs. Netflix illustrates this perfectly.
  • Subscriptions are not a new idea. Charles Dickens released his books to subscribers one chapter at a time, as he wrote them. What’s different today is technology and the speed at which even a one-person business can reach a huge number of customers.

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