Summary: The Membership Economy by BusinessNews Publishing

Author:BusinessNews Publishing
Language: eng
Format: epub
Publisher: BusinessNews Publishing
Published: 2016-09-22T00:00:00+00:00

If your churn rate is high, always survey why people are leaving so you know what to address in the future. By all means make the cancellation process easy and clear but use the survey to figure out what it will take to nurture those who leave back into the fold. Obviously, the more members you have, the higher your recurring revenue stream will be so it makes good sense to invest time and effort into doing this.

3. Membership organization shapes and sizes

Membership economy organizations come in a wide variety of shapes and sizes. All of them have their advantages and disadvantages. To find one that will work for you – even if it ends being a hybrid of different models – explore and experiment to find what works. There is no one-size-fits-all option.

There are six organizations which have prospered in the membership economy in recent years. You should explore the benefits of each type of business model for clues you can use to build a successful membership organization.

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