Winning in The Subscription Economy

Winning in The Subscription Economy

“In order to draw meaning from an example it doesn’t have to be from your world.”Malcom Gladwell

Mind Blowing Facts

Amazon, Facebook, Google, and Apple have a combined market cap (total market value of outstanding shares) of approximately $1.72 trillion US Dollars.

This equates to the GDP of Canada, thereby making them collectively equivalent to the 10th largest country in the world. Think about that for a moment.

These companies have one thing in common: Their business models are designed to capitalize on subscription relationships.

The good news is you can learn from their respective business models how to make your small business a winner in the subscription economy.

Amazon: A Retail Buying Subscription

Thanks to its Prime subscription product, Amazon controls 43% of all eCommerce worldwide. The roughly 10 billion US Dollars Amazon generates with Prime subscriptions pales in comparison to the revenue it generates from buyers with a subscription discount mindset.

Facebook: A Social Subscription Community

Everything Facebook does as a  free membership community is designed to learn as much about our behaviors as possible. Then it monetizes that data with advertising. The reason this community remains free is the users are the product advertisers are paying to reach.

Google: A Subscription Identity Service

YouTube, Contacts and Docs (Drive) are just a few of the many free Google subscription services that collectively establish your online identity. Paradoxically, the more Google knows about you the better it can serve you with these services, while also better serving the advertisers willing to pay to reach you and people with similar identities.

Apple: A Subscription Experience

We think of Apple as a company that sells innovative products, and it does that exceptionally well because it is intensely focused on guiding your subscription experience with its products and services. This is why there are just a few product choices available from selected retail outlets, and why Apple now offers economic incentives to rent rather than own your next iPhone.

Your Digital Subscription Communities

One of the reasons blogging is not what it used to be is that when Google killed Google Reader many people stopped using RSS to subscribe to blogs. Smart businesses took notice and shifted to email subscriptions to deliver their content and marketing messages.

Start thinking in terms of digital subscription communities. You will realize that email newsletters, podcasts and membership sites are opportunities for capitalizing on the subscription economy. I’ll be using all three and more at Landscape Digital Institute.

That brings us to how you can monetize your digital subscription communities. This could be with advertising like the big dogs, or more likely the sale of your products and services.

Personally, I like all three for different reasons. We’ll discuss this further in a future episode of This Old New Business Podcast.

Are you a lawn or landscape or related green industry professional?

Consider joining our free Landscape Digital Institute community to discover relevant resources, tools and training on all aspects of digital business, selling and marketing

I’d love to hear your thoughts on the subscription economy. Meet me over on Twitter to take the conversation further.

About the Author:  Jeff Korhan, MBA, is the author of Built-In Social and host of This Old New Business podcast.

He helps organizations use media to create exceptional customer experiences that drive business growth in a digital, social and global world. Connect with Jeff on LinkedInTwitterFacebook, and Google+

Instinctive Action: How to Maximize Personal Productivity and Energy

Instinctive Action: How to Maximize Personal Productivity and Energy

This is Episode 49 of This Old New Business weekly business podcast with Jeff Korhan.

In this episode former entrepreneur turned Kolbe Certified growth consultant and team builder Jason Cupp sits down to discuss how undertanding your instintive action mode(s) can favorably impact productivity and energy.

Jason notes there are many roads one can take to a destination, with none of them being wrong or right. The question is which one is right for you? That understanding can be particularly valuable for business leaders and people working in teams.

Instinctive Action Modes Never Change

Instinctive Action: How to Maximize Personal Productivity and EnergyWhile all of us acquire knowledge and learn and develop skills over a lifetime, our natural or instinctive action mode(s) never change. As measured by the Kolbe A Index, most of us have a dominant action mode that will reliably lead us to our greatest levels of productivity and energy.

These four Kolbe action modes include:

  • Fact Finder – people that need facts to make decisions
  • Follow Through – people that need structure or proven processes to follow
  • Quick  Start – those of us that succeed by trusting our intuition
  • Implementor – tactical people that want to build a model or show a method for succeeding

Listen in as Jason Cupp shares the nuances of how greater self-awareness and understanding of the instinctive action modes of your team members will help you leverage your most valuable business asset, the people that are its foundation. 

I’d love to hear your thoughts on instinctive action modes.  Meet me over on Twitter to take the conversation further.

Key Take-Aways

  • If you want to connect with Jason or learn more about Kolbe Wisdom for your business, email him at [email protected].
  • You will also find Jason active on Twitter @jasoncupp, as well as the other major social media channels.
  • A quote that has inspired Jason’s success: “Life is about the people you meet, and what you create with them. So go out and start creating.” Holstee Manifesto

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About the Author:  Jeff Korhan, MBA, is the author of Built-In Social: Essential Social Marketing Practices for Every Small Business and host of This Old New Business podcast.

He helps mainstream businesses adapt their traditional growth practices to a digital world. Connect with Jeff on LinkedInTwitterFacebook, and Google+

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