Membership Economy is replacing the ownership economy as a subscription, and the community to build a loyalty and a long-term connection to the business that changes in technology have extended the infrastructure of trust and opportunity to join the Membership Economy. The Membership Economy is working to build long-term, formal relationships with customers in which some organisations charge a subscription fee, but others might be free. The Membership Economy focuses on the formal relationships over one-time transactions of strategic business model that can create predictable revenue and cashflow; grow with lower incremental cost through customer referral; and generate ongoing data to refine tactics and learn about customers. (Refer to the Subscription Business)
Related Definitions in the Project: The Project Management; Commercial Definitions; Business Organisation
