14. James Schramko: The Recurring Revenue Model

The Recurring Revenue Model

In this episode we are chatting to James Schramko from Superfast Business and Silver Circle. This show is about the recurring revenue model, otherwise known as a subscription based model and the movement of moving towards operating within this model.

In this interview we cover:

• The all-you-can-eat model
• Which businesses will fit the subscription model
• What is ‘churn’
• The variations to start people on recurring subscriptions
• Using contracts in this model
• Understanding not everyone is a good fit
• Processes that qualify your customers
• Offering a support service to customers that don’t qualify as a customer
• The importance of live events for your customers
• Listening to the repeated customer questions
• Being aware of fads
• Converting traditional businesses onto recurring revenue model
• The benefits of this type of model
• Some examples of businesses using this model
• Lifetime value of customers
• Ascension models and why they don’t work for everyone
• The recurring relationship model for one-off products
• The importance of content marketing
• Using social media to syndicate your content
• Re-targeting to people who visit your website
• Membership forums
• The benefit of an App for membership sites

Links mentioned in the podcast

• SuperFast Business
• Silver Circle
• The App Match
• Work Less Make More book
• Monetising Knowledge Podcast Facebook Group
• Monetising Knowledge
• Course9
• Loyalest Webinar