Back in an April newsletter, Robbie Kellman Baxter of Peninsula Strategies noted that “ownership is so last century.” She pointed to our move to a “membership economy.” We acquire shares of vacation condos, lease cars, and have boxes of everything from organic produce to contact lenses delivered for a monthly fee. Trends in mobile technology, she says, have only “sped up the process of moving us further away from commitment.”
I have to admit I had never really thought of ownership that way. On the other hand, I “own” very few things that I truly treasure, and much of what I’ve acquired over the years eventually ends up at the Peninsula Humane Society thrift shop. (If that doesn’t argue for living a less possession-laden life, I don’t know what does.)
In any case, I think Robbie’s point is that “fractional ownership” or “membership” is an excellent way for companies to keep in touch with their customers and build their loyalty. Even if you’re wearing those contact lenses, for example, and therefore “own” them, the company that sends them to you has many opportunities to impress you with its efficiency, the quality of its service, and the coolness of other offerings it comes up with. All businesses need to explore how—or if—they can leverage the membership concept to their benefit.
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