Business revolution: What is the membership economy? | Robbie Kellman Baxter | Big Think

The "membership economy" is profoundly transforming business, comparable to the industrial revolution, states Silicon Valley consultant Robbie Kellman Baxter. This model shifts the consumer-brand relationship from transactional to relational, emphasizing access over ownership and delivering a "forever promise."

While not a new concept—Charles Dickens used subscriptions—modern technology allows businesses to build these ongoing relationships with unprecedented reach. This shift, exemplified by Netflix's success over Blockbuster, prioritizes consistent value and customer certainty. Baxter, author of "The Membership Economy," details this move from one-time payments to recurring revenue and multi-directional communication.

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