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The Forever Transaction: How to Build a Subscription Model So Compelling, Your Customers Will Never Want to Leave
Develop and cultivate the kind of robust, long-term customer relationships that power companies like Nike, Spotify, LinkedIn, and Target
More and more companies are concluding that the potential rewards of subscription-based products and services are worth the risk of radically changing their business models. They're correct. The Membership Economy is here and it's here to stay--and if you want to compete for the long run, you need to join it.
Strategy consultant Robbie Kellman Baxter has been helping companies excel in this business environment for more than a decade. Now, in The Forever Transaction, she reveals all her secrets. Whatever industry you're in, Baxter provides the inspiration, tools, and insight you need to build and execute a business model that will leave your competition in the dust.
You'll find out how industry leaders like Under Armour, Microsoft, and Netflix have created an ever-expanding customer base of loyal subscribers―and are keeping them coming back. You'll learn how to lead your organization through every step of the process―from initial start-up to new product testing, scaling for long-term growth and sustainability to revamping your culture so everyone works together to optimize customer lifetime value. You'll also master all the essentials of succeeding in the Membership Economy, like subscription pricing, Software-as-a-Service, digital community engagement, and freemium incentives as a way to turn casual browsers into cash-paying super-users.
With The Forever Transaction, you have everything you need to build durable, long-term relationships with every customer, and leverage them for ultimate business success―today, tomorrow, and forever.
More and more companies are concluding that the potential rewards of subscription-based products and services are worth the risk of radically changing their business models. They're correct. The Membership Economy is here and it's here to stay--and if you want to compete for the long run, you need to join it.
Strategy consultant Robbie Kellman Baxter has been helping companies excel in this business environment for more than a decade. Now, in The Forever Transaction, she reveals all her secrets. Whatever industry you're in, Baxter provides the inspiration, tools, and insight you need to build and execute a business model that will leave your competition in the dust.
You'll find out how industry leaders like Under Armour, Microsoft, and Netflix have created an ever-expanding customer base of loyal subscribers―and are keeping them coming back. You'll learn how to lead your organization through every step of the process―from initial start-up to new product testing, scaling for long-term growth and sustainability to revamping your culture so everyone works together to optimize customer lifetime value. You'll also master all the essentials of succeeding in the Membership Economy, like subscription pricing, Software-as-a-Service, digital community engagement, and freemium incentives as a way to turn casual browsers into cash-paying super-users.
With The Forever Transaction, you have everything you need to build durable, long-term relationships with every customer, and leverage them for ultimate business success―today, tomorrow, and forever.
256 pages, Hardcover
Published April 7, 2020
153 people are currently reading
692 people want to read
About the author
Robbie Kellman Baxter
6 books82 followersThe author of both The Forever Transaction (2020) and The Membership Economy (2015), Robbie coined the popular business term “Membership Economy”.
Robbie’s expertise with companies in the emerging Membership Economy extends to
include SaaS, media, consumer products, business services, manufacturing and associations.
Robbie Kellman Baxter brings over twenty years of strategy consulting and marketing expertise to Peninsula Strategies, a consulting firm focused on helping companies leverage subscription pricing, digital community and freemium to build deeper relationships with customers. Her clients have included start-ups and mid-sized venture-backed companies as well as industry leaders such as Microsoft, Netflix, Electronic Arts, and The Wall Street Journal.
Peninsula Strategies has advised nearly 100 organizations in over 20 industries on growth
strategy.
A sought-after writer and keynote speaker, Robbie has presented at top universities,
associations and corporations, as well as to corporate boards and leadership teams around the world. Robbie has created and starred in 10 video courses in collaboration with LinkedIn Learning on business topics ranging from innovation to customer success and membership.
Prior to launching Peninsula Strategies, Robbie was a strategy consultant at Booz-Allen, a New York City Urban Fellow and a Silicon Valley product marketer. Robbie received her MBA from the Stanford Graduate School of Business and graduated with honors from Harvard College.
https://www.linkedin.com/in/robbiekel...
https://robbiekellmanbaxter.com/
Robbie’s expertise with companies in the emerging Membership Economy extends to
include SaaS, media, consumer products, business services, manufacturing and associations.
Robbie Kellman Baxter brings over twenty years of strategy consulting and marketing expertise to Peninsula Strategies, a consulting firm focused on helping companies leverage subscription pricing, digital community and freemium to build deeper relationships with customers. Her clients have included start-ups and mid-sized venture-backed companies as well as industry leaders such as Microsoft, Netflix, Electronic Arts, and The Wall Street Journal.
Peninsula Strategies has advised nearly 100 organizations in over 20 industries on growth
strategy.
A sought-after writer and keynote speaker, Robbie has presented at top universities,
associations and corporations, as well as to corporate boards and leadership teams around the world. Robbie has created and starred in 10 video courses in collaboration with LinkedIn Learning on business topics ranging from innovation to customer success and membership.
Prior to launching Peninsula Strategies, Robbie was a strategy consultant at Booz-Allen, a New York City Urban Fellow and a Silicon Valley product marketer. Robbie received her MBA from the Stanford Graduate School of Business and graduated with honors from Harvard College.
https://www.linkedin.com/in/robbiekel...
https://robbiekellmanbaxter.com/
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Displaying 1 - 30 of 46 reviews
March 3, 2020
Reading through Robbie's new book is like a gold mine of practical information, laid out in a way that makes sense for a new or growing recurring revenue business. If you want to know what the pro's know, the Forever Transaction can light your path. As she most elegantly points out, a plan is your way to a successful forever customer. And your plan needs to be about forming a relationship.
Product pricing, billing systems and all the other things company's focus on are important to quality execution. But the main thing is why your customers stay in a relationship with you over time. What drives them to become Members instead of just Customers. If you are in retail or e-commerce, subscriptions are a new and different paradigm. This book can help you make the transition to becoming a company your customers will stay with forever.
Kim Terry
CEO - Subscription Systems
Product pricing, billing systems and all the other things company's focus on are important to quality execution. But the main thing is why your customers stay in a relationship with you over time. What drives them to become Members instead of just Customers. If you are in retail or e-commerce, subscriptions are a new and different paradigm. This book can help you make the transition to becoming a company your customers will stay with forever.
Kim Terry
CEO - Subscription Systems
February 28, 2020
I would never start another company without a forever subscription and a membership model. Robbie Baxter's book is such a good explanation on how to do this, how to create value for your members, and how to create a successful business that succeeds because members don't want to leave. It is not about gimmicks, instead it teaches you how to think about your business model to make it successful. I found this book incredibly helpful and an entrepreneur and a marketer.
February 27, 2020
As the founder of a subscription business start-up, THE FOREVER TRANSACTION has been my guiding light, providing a critical road map during our first year in business. Showing her deep and broad experience in the field, Baxter somehow seems to have anticipated my every question - and then provided easy-to-digest answers, considerations and case studies in response. Further, Baxter also shares and addresses the questions I should have been asking, but had not yet known to ask as a newer entrepreneur.
Demonstrating how well Baxter knows her audience of founders and business leaders with no time to waste, her writing and presentation style are directly relevant, concise, and high value. Her case studies from a wide array of industries and businesses are particularly helpful in grounding her points in real world realities.
I plan to re-read this book each year because every time I pick it up, it offers more wisdom and guidance.
Demonstrating how well Baxter knows her audience of founders and business leaders with no time to waste, her writing and presentation style are directly relevant, concise, and high value. Her case studies from a wide array of industries and businesses are particularly helpful in grounding her points in real world realities.
I plan to re-read this book each year because every time I pick it up, it offers more wisdom and guidance.
February 26, 2020
This is a useful book for anyone running any kind of organization that’s trying to build long-term relationships. It picks up where The Membership Economy left off. Even if you don’t usually read business books, you’ll enjoy it—there are lots of interesting stories.”
August 14, 2020
Membership Economy by the same author was an introduction to this subject. The Forever Transaction is a more practical book, divided in three sections : Launch, Scale, Lead.
Of course, not all advices in the book are actionable, depending on your organisation maturity. But it certainly helps you think about your own practices.
My highlights:
- "Many subscription and membership companies have a “retention” team, and a retention communication drip in advance of renewal, perhaps a notice that the next shipment is being sent in 48 hours or text reminder that the next payment date is coming up. Many organizations have a “save” program to deploy when someone calls to cancel, in hopes of saving them. Those tactics are the most basic tools. More sophisticated organizations track behavior, and communicate with subscribers, from the beginning. They understand how customers onboard, how they feel about unboxing their products, how they test new software features or explore the content catalog. They quickly recognize whether a new subscriber is likely to churn."
- "The Financial Times has added a new metric to more closely track successful outcomes for readers, “quality reads” which refers to “the percentage of page views where the reader has read at least half of the article, estimated by time on page, scroll depth, and what it knows about how subscribers interact with similar content.”4 This new metric helps them understand both which articles (and not just clickbait titles) were most valued by subscribers as well as which subscribers engaged with each article in a meaningful way."
- "Beware of promotions. Offering end-of-quarter discounts or new-feature bundles can make you a hero today, but you’ll pay for it tomorrow. This kind of revenue won’t be sustainable—people who are making buying decisions on price may not stay with you for the right reasons. You’re also educating your customers to wait for the sales and your company will quickly become addicted to sales. You’ll be running a hamster wheel of constant promotions, distracting attention from the subscribers you already have."
- "Netflix recognized that the single biggest driver of success would be retention. Acquisition of new customers came with a two-week free trial, which had real variable costs. If a customer signed up for the free trial and then canceled before the first paid period, or even after just a period or two, the company lost money. It wasn’t enough to acquire customers; Netflix had to keep the customer, or “subscriber,” long enough to cover the trial as well as the cost to serve on an ongoing basis."
- "Netflix worried as much about retention as it did acquisition, and it tracked trends across cohorts of new customers."
- "Many investors consider a CLV/CAC ratio of three to one to be attractive."
- "Building your organization on a true “forever promise” means making every decision as if you’ll never sell the business."
- "Have you optimized your offering with triggers (features that drive sign-up) as well as hooks (features that may be discovered post-transaction that drive loyalty and engagement)?"
- "Understanding your local environment can be key in growth, as the Financial Times demonstrated when it dropped its paywall for all Brexit news on Brexit weekend. Not only did it see a huge lift in traffic due to the availability of that free content, it enjoyed a 600 percent spike in digital subscription signups that weekend."
Of course, not all advices in the book are actionable, depending on your organisation maturity. But it certainly helps you think about your own practices.
My highlights:
- "Many subscription and membership companies have a “retention” team, and a retention communication drip in advance of renewal, perhaps a notice that the next shipment is being sent in 48 hours or text reminder that the next payment date is coming up. Many organizations have a “save” program to deploy when someone calls to cancel, in hopes of saving them. Those tactics are the most basic tools. More sophisticated organizations track behavior, and communicate with subscribers, from the beginning. They understand how customers onboard, how they feel about unboxing their products, how they test new software features or explore the content catalog. They quickly recognize whether a new subscriber is likely to churn."
- "The Financial Times has added a new metric to more closely track successful outcomes for readers, “quality reads” which refers to “the percentage of page views where the reader has read at least half of the article, estimated by time on page, scroll depth, and what it knows about how subscribers interact with similar content.”4 This new metric helps them understand both which articles (and not just clickbait titles) were most valued by subscribers as well as which subscribers engaged with each article in a meaningful way."
- "Beware of promotions. Offering end-of-quarter discounts or new-feature bundles can make you a hero today, but you’ll pay for it tomorrow. This kind of revenue won’t be sustainable—people who are making buying decisions on price may not stay with you for the right reasons. You’re also educating your customers to wait for the sales and your company will quickly become addicted to sales. You’ll be running a hamster wheel of constant promotions, distracting attention from the subscribers you already have."
- "Netflix recognized that the single biggest driver of success would be retention. Acquisition of new customers came with a two-week free trial, which had real variable costs. If a customer signed up for the free trial and then canceled before the first paid period, or even after just a period or two, the company lost money. It wasn’t enough to acquire customers; Netflix had to keep the customer, or “subscriber,” long enough to cover the trial as well as the cost to serve on an ongoing basis."
- "Netflix worried as much about retention as it did acquisition, and it tracked trends across cohorts of new customers."
- "Many investors consider a CLV/CAC ratio of three to one to be attractive."
- "Building your organization on a true “forever promise” means making every decision as if you’ll never sell the business."
- "Have you optimized your offering with triggers (features that drive sign-up) as well as hooks (features that may be discovered post-transaction that drive loyalty and engagement)?"
- "Understanding your local environment can be key in growth, as the Financial Times demonstrated when it dropped its paywall for all Brexit news on Brexit weekend. Not only did it see a huge lift in traffic due to the availability of that free content, it enjoyed a 600 percent spike in digital subscription signups that weekend."
February 26, 2020
A comprehensive, intelligent, must-have book for anybody who wants to build or grow their subscription part of the business. I highly recommend reading this book if you'd like to grow your business with a subscription model.
August 15, 2020
This book is good but basic. I liked the Membership Economy better. Robbie is a great author and I’m looking forward to her next book already.
August 2, 2020
A good guide to launching a subscription business model. It explores the customer promise—to create that feeling of membership and forever transaction—pricing, KPIs, the cultural changes required to make this change, and more. Baxter defines the Forever Transaction: “A term coined by the author to mean a transaction during which the customer makes a decision to continue in a formal relationship with the organization without considering other options in the future—metaphorically removing the customer’s ‘shopper’ hat and donning a ‘membership’ hat. Check out comedian Ryan Hamilton on Canceling a Gym Membership, Economics Media Library, https://econ.video/2017/12/19/ryan-ha.... There are many examples of businesses using the subscription model, some from the beginning, others transitioning from a transactional model. A good read if you’re thinking about this model.
March 9, 2020
This book describes membership economies a way that even a non-business person could understand. Written in a user friendly and approachable manner, this book gives numerous case studies to bring the theories and best practices to life. The author describes the why, and, more importantly, the how of bringing your business or organization into a community that people want to belong to. It's a complicated process, but Baxter makes it simple.
August 16, 2020
The book mainly talks about transforming existing transaction-based businesses into subscription businesses, the goal being to acquire a loyal customer base and maximize CLV (customer lifetime value) rather than short term profit.
This desire to be sticky with customers makes sense in business sectors that are not innovative and where there are many competitors. This is the type of business that the book mainly delves into, although the subscription model is legitimately applicable to other business sectors where the product being sold depreciates quickly and needs ongoing updates, such as software.
If a company is transitioning to a subscription model, that can be a red signal for the customer, as the company might be willing to hang on to its customers at all costs. Indeed, malpractices abound, and the book mentions some of them. Many businesses make it unduly difficult for customers to unsubscribe by hiding the “unsubscribe” button or by requiring cumbersome steps such as personal phone calls or handwritten letters. I have personally had a similar experience with BitDefender recently.
Regulating the economy is a government responsibility, and everybody pays them taxes. So why are these malpractices so prevalent?
The business cases discussed pertain to retail (shoes...) and community-based services (weight loss...) mostly. The book also talks about the subscription models of Netflix and EA (Electronic Art) to name a few cases in the digital realm.
Helpfully, the book mentions the typical KPIs (key performance indicators) that are relevant for subscription businesses, and the metrics to track for monitoring company health and reducing churn.
Overall, I have found this book to be confusing rather than illuminating. One has to make an extra effort to gain insights from the presented material by casting aside many of the confusing argumentations. The reason might have been that the author has intended to point out what is not working in the subscription model without launching an overt critique on the sector. In that, she has succeeded.
This desire to be sticky with customers makes sense in business sectors that are not innovative and where there are many competitors. This is the type of business that the book mainly delves into, although the subscription model is legitimately applicable to other business sectors where the product being sold depreciates quickly and needs ongoing updates, such as software.
If a company is transitioning to a subscription model, that can be a red signal for the customer, as the company might be willing to hang on to its customers at all costs. Indeed, malpractices abound, and the book mentions some of them. Many businesses make it unduly difficult for customers to unsubscribe by hiding the “unsubscribe” button or by requiring cumbersome steps such as personal phone calls or handwritten letters. I have personally had a similar experience with BitDefender recently.
Regulating the economy is a government responsibility, and everybody pays them taxes. So why are these malpractices so prevalent?
The business cases discussed pertain to retail (shoes...) and community-based services (weight loss...) mostly. The book also talks about the subscription models of Netflix and EA (Electronic Art) to name a few cases in the digital realm.
Helpfully, the book mentions the typical KPIs (key performance indicators) that are relevant for subscription businesses, and the metrics to track for monitoring company health and reducing churn.
Overall, I have found this book to be confusing rather than illuminating. One has to make an extra effort to gain insights from the presented material by casting aside many of the confusing argumentations. The reason might have been that the author has intended to point out what is not working in the subscription model without launching an overt critique on the sector. In that, she has succeeded.
March 9, 2020
Starting out in the business world working in the American Express Card business as a marketing and strategic insights exec was a great introduction to all the benefits and "how-tos" of the membership/subscription business model when American Express was promoting "Membership has its privileges" for its portfolio of credit cards. When I moved on as an exec with other subscription-based businesses, I was fortunate to learn even more about the nitty-gritty of the relationship-based business models that many companies use today. In my opinion Robbie's new book is a very good follow-up to her first book on the topic,The Membership Economy, that she published a few years ago. Big picture, this new book makes you think very hard about what you are doing if you are currently involved in a subscription-based business or what you may be doing if you are planning on launching a business that will be using a subscription business model. Does it answer every question you may have about the topic? Absolutely not? But Robbie's book makes you think hard about what you are currently doing or may be planning to do. It's definitely worth the time to read it!
March 10, 2020
This book by Robbie Kellman Baxter couldn't be coming out at a better time. A time when clear winners in the first wave of companies that embraced subscription (or membership) business models have emerged. There are also 'stragglers' and those with mixed results as well.
At the same time, I've seen many startups who blindly adopt "monthly subscriptions" as their business model and attempt to run their businesses with analytical financial models filled with placeholder metrics such as CAC, LTV, and Churn without first asking themselves (and potential customers) whether their product is really meant to be "subscribed to" and deliver value because of a sustained customer relationship.
If you're about to get into the subscription business now, read this book and invest some time to think through the "why" and learn from the experiences of others.
If you've already transitioned into the subscription model or have launched "experiments," read this book to reflect upon what made you go down that path - and correct course or make your initial success more robust.
If you're just curious about how companies succeed with this model - well, you're going to learn a lot.
Enjoy!
At the same time, I've seen many startups who blindly adopt "monthly subscriptions" as their business model and attempt to run their businesses with analytical financial models filled with placeholder metrics such as CAC, LTV, and Churn without first asking themselves (and potential customers) whether their product is really meant to be "subscribed to" and deliver value because of a sustained customer relationship.
If you're about to get into the subscription business now, read this book and invest some time to think through the "why" and learn from the experiences of others.
If you've already transitioned into the subscription model or have launched "experiments," read this book to reflect upon what made you go down that path - and correct course or make your initial success more robust.
If you're just curious about how companies succeed with this model - well, you're going to learn a lot.
Enjoy!
March 18, 2020
I was a fan of Baxter's first book and have looked forward to the release of this one. Baxter's incisive and sure-handed take on the Membership Economy gave me new understanding into the way things actually work. I learned so much. Now, I am part of a member-focused organization and The Forever Transaction is ringing in my ears. The book has fundamentally changed the way I approach deliverables and decisions. A tool so powerful shouldn't be so much fun to read, but it was because Baxter writes like the cool, super-smart person in the room. The one you sincerely want to have coffee with just to hear what she thinks. Her humor, warmth and deft storytelling abilities make The Forever Transaction as fun a read as I could have hoped for. Forever can be a long time, but the Forever Transaction is a quick and edifying read, packed with actionable suggestions, instructive anecdotes and the feeling that a warm, positive person is your private coach.
March 13, 2020
I recommend this book for anyone at a company with recurring customers! It's easy to read with many real-life examples, and will make you think about how to improve your customers' experience. Baxter explains the importance of creating a "forever transaction" with your customers or "members", and why companies should think long term in dealing with them. Also, she gives readers specific ideas to implement to actually put customers first. One thing I especially like about this book is that the suggestions and advice work well for a small business, not just a huge corporation. Also, although there is a lot of information about subscription models, this book is definitely worth reading even if your business doesn't use that model as most of the content is relevant to any business.
April 20, 2020
We know it's easier to sell more to an existing customer than to start selling to a new customer. Then, why not build relationships with customers so that they want to buy from us continuously and never want to leave?
Luckily, Robbie Kellman Baxter has written The Forever Transaction. She explains in an easy-to-implement fashion exactly how to do build a business in a way that your best customers will become customers forever.
The Forever Transaction is a game changer that every business leader should read and follow. Thank you, Robbie.
Luckily, Robbie Kellman Baxter has written The Forever Transaction. She explains in an easy-to-implement fashion exactly how to do build a business in a way that your best customers will become customers forever.
The Forever Transaction is a game changer that every business leader should read and follow. Thank you, Robbie.
April 12, 2020
Great book! Especially relevant for the pandemic. Forever means forever, value that persists through the ups and downs of the market. Forever transactions hold customers through it all. Read this book for strategies and tactics that are super relevant right now. Everything in Baxter's latest masterpiece are especially pertinent while the market is under stress. The lessons shared and the techniques offered will help businesses persist, develop resilience, and position for the long haul... for forever!
July 9, 2023
If you are looking to build a subscription model business, you need to read this book. Focusing on fundamentals like churn, product design, value and customer service, you get specific steps to plan and implement in your business journey. The book started off extremely strong, so strong, in fact, that I bought the author's other "prequel" for additional insights. Unfortunately the finish wasn't as solid as the beginning, but it still is very much worth the read if this is your desired or current business model.
March 13, 2020
Whether you’re already using the forever model or just thinking of implementing it, this is the process bible to guide you. The Forever Model is a ‘Mindset’ and Baxter’s story filled narrative transports you right where you need to be, to design your forever.
Karen F. Cornwell, Product Management Consultant and Author of You Can’t Fix What You
Can’t See: An Eye-Opening Toolkit to Cultivate Gender Harmony in Business
Karen F. Cornwell, Product Management Consultant and Author of You Can’t Fix What You
Can’t See: An Eye-Opening Toolkit to Cultivate Gender Harmony in Business
May 28, 2020
As a venture capital investor in subscription model companies. The Forever Transaction provides a practical guide and framework for any stage business building or transitioning to a subscription-based model. The number of real world case studies helps the reader relate to the conceptual framework that the author lays out, bridging the gap between theory and practice. This will stay on my bookshelf as a reference for years to come.
June 27, 2020
Detailed breakdown
This is an excellent book for executives within a larger organisation. Much of the content is around persuading the case for subscription models and the analysis needed to make the transition as painless as possible.
If you’re looking for something aimed at smaller businesses then I’d recommend “the automatic customer” or “subscribed”.
This is an excellent book for executives within a larger organisation. Much of the content is around persuading the case for subscription models and the analysis needed to make the transition as painless as possible.
If you’re looking for something aimed at smaller businesses then I’d recommend “the automatic customer” or “subscribed”.
April 6, 2020
The Forever Transaction by Robbie Baxter is a must read! Talk about Walt Disney customer service and being customer-centric! Baxter provides real, authentic and actionable advice for any organization that's looking to improve customer value. I'm impressed with the valuable take-aways and I look forward to recommending this book for years to come!
April 22, 2020
I appreciate the way that Robbie laid out her book. I helped me look at my work/position a bit differently. Some of the information was familiar to me - the "quick tips" were good reminders. I found the table matrics to be most helpful because they forced me to over each area and re-evaluate some plans and goals.
Thank you, Robbie!
Thank you, Robbie!
January 4, 2023
This book is like a children's novel, it is overly simplistic and void of practicality. Other than citing the authors clients, the book reads like a friend's advice in a bar, rather than a well-prepared business book. The examples are grossly impractical and void of relevance, unless you own parking garage (yes, thats one of the examples!).
Not worth the money.
Not worth the money.
March 19, 2020
The Forever Transaction is entertaining, full of insights & stories, and step-by-step approach to acquire customers for life (forever). Your customers will come back for more through thick and thin.
February 3, 2024
What's the big idea and/or unique approach of this book?
This book says it's about the customer relationship and business systems of subscription programs--how to run that business. But it's not. I found it to start with that overview, but then spend the rest of the book talking to large companies who are struggling with change management (e.g. it had a big section on how to do a merger or acquisition well).
How am I smarter, better, or wiser because of it?
I didn't learn much, but that's largely because I've done a lot of change management work for large companies. I've read a ton of those books and implemented even more.
Was I entertained/did it keep my attention?
Sadly, it had more corporate-speak the longer the book went. I'm a full-on corporate consultant to I understood it, but it's dry and unnecessarily complicated language. :(
Would I recommend it to others?
No. There are better books on running membership/subscription businesses and there are better books on change management. This is a combo that made for two less than awesome parts. I would have preferred the author pick one topic and do it properly.
This book says it's about the customer relationship and business systems of subscription programs--how to run that business. But it's not. I found it to start with that overview, but then spend the rest of the book talking to large companies who are struggling with change management (e.g. it had a big section on how to do a merger or acquisition well).
How am I smarter, better, or wiser because of it?
I didn't learn much, but that's largely because I've done a lot of change management work for large companies. I've read a ton of those books and implemented even more.
Was I entertained/did it keep my attention?
Sadly, it had more corporate-speak the longer the book went. I'm a full-on corporate consultant to I understood it, but it's dry and unnecessarily complicated language. :(
Would I recommend it to others?
No. There are better books on running membership/subscription businesses and there are better books on change management. This is a combo that made for two less than awesome parts. I would have preferred the author pick one topic and do it properly.
December 31, 2022
О ЧЕМ КНИГА:
Книга написана одним из ведущих специалистов по анализу подписных бизнес-моделей. Кажется, что мы все понимаем, что бизнес по подписке - это круто, но не знаем как подступиться к его организации. Здесь мы получаем методическое пособие для создания такого бизнеса, а также прогнозы развития подписной бизнес-модели на будущее.
ГЛАВНАЯ МЫСЛЬ КНИГИ:
Каждая компания сейчас должна научиться обращаться со своими клиентами, как с участниками сообщества. Только таким образом можно выиграть в будущей конкурентной борьбе. Сейчас центром многих компаний становится не продукт, а клиент.
ЗАЧЕМ ЧИТАТЬ ЭТУ КНИГУ?
Если вы хотите улучшить качество работы вашего бизнеса по подписке и получить новые идеи для его развития.
ЧТО Я БУДУ ПРИМЕНЯТЬ:
Проанализирую идею того, что можно сделать в текущих бизнесах, чтобы клиент стал нашим "навсегда".
ЕЩЕ НА ЭТУ ТЕМУ:
Тен Цуо | Гейб Вайзерт «Бизнес на подписке»
Книга написана одним из ведущих специалистов по анализу подписных бизнес-моделей. Кажется, что мы все понимаем, что бизнес по подписке - это круто, но не знаем как подступиться к его организации. Здесь мы получаем методическое пособие для создания такого бизнеса, а также прогнозы развития подписной бизнес-модели на будущее.
ГЛАВНАЯ МЫСЛЬ КНИГИ:
Каждая компания сейчас должна научиться обращаться со своими клиентами, как с участниками сообщества. Только таким образом можно выиграть в будущей конкурентной борьбе. Сейчас центром многих компаний становится не продукт, а клиент.
ЗАЧЕМ ЧИТАТЬ ЭТУ КНИГУ?
Если вы хотите улучшить качество работы вашего бизнеса по подписке и получить новые идеи для его развития.
ЧТО Я БУДУ ПРИМЕНЯТЬ:
Проанализирую идею того, что можно сделать в текущих бизнесах, чтобы клиент стал нашим "навсегда".
ЕЩЕ НА ЭТУ ТЕМУ:
Тен Цуо | Гейб Вайзерт «Бизнес на подписке»
January 26, 2023
A thought-provoking and informative book, The Forever Transaction gives a unique perspective on the membership economy and how to best serve your customers by building a subscription business. The author is world renowned and has experience in multiple industries with different sized companies.
The book is well-structured and can be read straight through or used as a reference guide. The author uses great examples to drive home her points. As a business professional, I found the book eye-opening and applicable to a number of business challenges. Whether I expand my business into subscription or focus on enhancing the experience of my customers, this book has helped challenge how I will move forward in thinking in new ways.
The Forever Transaction inspired me in numerous ways, and I have no doubt will add significantly to my business success and education.
The book is well-structured and can be read straight through or used as a reference guide. The author uses great examples to drive home her points. As a business professional, I found the book eye-opening and applicable to a number of business challenges. Whether I expand my business into subscription or focus on enhancing the experience of my customers, this book has helped challenge how I will move forward in thinking in new ways.
The Forever Transaction inspired me in numerous ways, and I have no doubt will add significantly to my business success and education.
January 27, 2023
If your business has anything to do with subscription or membership models or building strong customer centric relationships - READ THIS BOOK!! Robbie Kellman Baxter has a true gift for assessing the big picture and breaking it down to the most potent, direct actions to get the results you desire. As an entrepreneur building a community of women and conscious leaders, I've found this book helpful in giving me key questions to ask of myself, and how I'm structuring my business, to get even better (and more aligned + heart centered) results! Thank your for your wisdom Robbie. And your unique genius which helps see the big picture, but then also show me how to move aside obstacles and focus and prioritize what's going to get me towards my objectives fastest.
April 29, 2020
Baxter’s first book, The Membership Economy, defined a new way of thinking about how organizations should engage with their members and explained why this new approach was so relevant and powerful. Her new book, The Forever Transaction, provides a much more practical roadmap for entrepreneurs and business executives who are trying to build long-term customer/client relationships and ensure recurring revenues. Baxter uses lots of case studies, examples, and templates to help make her advice applicable and actionable. As a personal financial planner, I know the value of predictable cash flows and The Forever Transaction shows business leaders how they can achieve this.
January 11, 2021
This book is the "how" companion to Baxter's previous book that seemed to focus more on "why" a company would want to move to a subscription model. While it's definitely an introduction (you could write an entire book on just product design and pricing) I really appreciated Baxter's focus on concrete actionable information. Each chapter concludes with next steps an individual or team trying to implement a subscription model might want to take, which makes this more geared toward someone definitely planning to implement a subscription model rather than someone merely curious about the topic.
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