Ron and Ed were jazzed to be doing the show live from the 90 Minds annual conference, The Meeting of the Minds in San Diego. The Meeting of The Minds brings a membership of consultants, resellers, and software providers together to celebrate our powerful community.
For two-plus days, these consultants shared, listened, learned, and challenged perceptions. Every year, they celebrate expanding their community through the renewal of relationships and building new alliances. The investment grows all year through online collaboration supported by their members, webinars from partners, and sharing of knowledge and experience with each other.
”The returns are greater than any one mind.”
Ron and Ed primarily took questions from the amazing live audience. Here is quick summary of those questions:
Historical in the subscription world, we were taught that there were like, three measures that you should have customer lifetime value, customer acquisition costs and retention rates. So if customer lifetime value is higher than retention is good rate because you don't want to lose these customers. What would you say the key measurements are for a business owner to be looking at in this new subscription model? (Editors Note: The VC firm, Andreessen Horowitz, has a list of 16 startup metrics that are a great place to look when trying to answer this question. Here is the link.)
How would you recommend that smaller firms balance the need to maintain relationships with all of these customers who are now on a subscription?
How do we go about thinking about this in a way that we don't get scared off or some customers going to rip us off line we're going to end up consuming all of our spending all of our effort on these guys and ignoring the other people?
When you're in a subscription model, do you still go to that three pricing method?
Do you have any other examples of maybe two companies that joined together to provide a value and then price it in in one of these subscription models?
How do you explain this to customers?