Give People a Preview of What You Have to Offer
A lot of times people don’t want to buy your products or services or get hooked into an ongoing subscription you’re offering. Sometimes, it’s just something they’re not sure of, or they don’t yet feel like they know you. So they may be a bit hesitant about buying, even if your subscription offer can be cancelled at any time, or you offer a money back guarantee.
One proven way to overcome this obstacle is to simply offer a free or really low-cost trial so they can try it out. If you’re offering a subscription, you should have them commit up front to it after the trial period is over. To do that you just need to let them know they have a full XYZ amount of days to try it out before they will be billed for the product, and remind them they can cancel anytime. That way, assuming you have a good product, you are more likely to convert most of your trial users into happy clients.
If you leave it up to trial users to choose to accept the membership after the trial is over they often won’t bother, not because they weren’t happy with your product, just because it requires another action on their part that they just never get to. They simply forget about it. Of course, you know your market and customers best so you may want to test out both methods and determine which method works best for your target audience.
This strategy works with non-subscription and physical products as well. If you are offering information, like a book or how-to-guide, give them a sample chapter or a free report on the topic. If you’re offering a service provide them with useful information that shows your expertise, and a free or low cost way to take the next step. If you’re selling physical products, offer a related item at a substantially reduced cost.
If you’re wondering if this really works, think about how many times you’ve gone into a store to buy some item priced ridiculously low and came out with a whole shopping bag or more?
It’s called a loss-leader. Store owners will even sell the item at a loss because it draws customers into the store and they generally buy lots of other items that more than make up for the loss on that initial item.
One of the biggest loss-leader items I know of is Amazon’s Kindle. That’s right. When Amazon created the Kindle, they sold it for less than it cost to make. Then they made hundreds of millions of dollars on the backend selling Kindle buyers books and magazines to read on it.