Subscriptions

If you have to set up a subscription gateway where you are charging people for a year, it shows that you aren’t actually bringing as much value as you think you are.

If your product is so valuable that someone should spend $50 a month, people should be banging down your door to pay you every month.

If you find that you are losing customers monthly, and they cancel on you all the time, maybe your product or service is not as valuable as you think.

Instead of making a switch on your signup between monthly and yearly, requiring a credit card for signup and setting the autofill to yearly so you can increase your cashflow without adding value, figure why you are losing subscribers and make your business model better so that people renew more often.

But that’s a longview play. If you are playing the shortview, then by all means, take as much as you can from everyone that you can, without adding any value or improvements and definitely use every psychological trick in the book to manipulate people into overpaying for longer periods of time than they should. Oh, and definitely get all of their money up front.

The question is, which kind of client or customer do you actually want? If you want one that feels used and abused but gives you a lot of money, then definitely use psychological tricks to manipulate their wallets like form autofills for a yearly payment instead of monthly. If you want a client or a customer that feels like you are on their team, you help their lives immensely, AND you want them to give you a lot of money, then be transparent and consistent and they will pay you month after month. They are likely to even pay you more than you think if you ask.

If you feel like you have to trick your customer like this, you are going down the wrong path.

Peace, Love and Rock’n’Roll

Jesse Barney