How to Build the right organization?

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Build the right organization

Maybe you're watching this course because you're an entrepreneur designing a new business. Or maybe you're an executive evolving the business you have for the membership economy. One of the biggest challenges in either case is something that many organizations overlook. First is the structure. Metrics are different in the membership economy. Acquisition of new customers isn't as important as retention and minimization of churn. And engagement, meaning how much people actually use the stuff they're paying for, isn't tracked in transactional businesses. But in the membership economy, engagement is a really useful indicator of retention.

There's an infinite amount of data that you can obtain for your customers. But it's going to be pretty useless if you aren't being smart about what you do with it. And you can be sure that your competitors, especially the new disruptors, will be using it. Organizations have access to much deeper and richer behavioral data in the membership economy, which requires analytics. And of course you need people who can manage.

Source: https://www.linkedin.com/learning/creating-a-membership-based-business/build-the-right-organization