Selling Subscriptions – Episode #106

by Richard Wilson on August 6, 2011

The following video is borrowed from our platform and was originally recorded for our sales training program.   In this video, I provide some tips and strategies for selling subscriptions.  I hope that you benefit from the lessons that we have learned and the mistakes that we have made in selling subscriptions.

Video Transcript/Summary: The strategies and tips provided within this video module include:

  1. There are multiple types of subscriptions agreements including: paid membership, a service subscription or a product payment plan subscription.
  2. Most people will cancel a membership subscription after 5-6 months. 
  3. Consider an up-front fee that makes it an investment for them in your membership service.
  4. Charging 30-40% of the total cost of the membership up-front can help in terms of profitability.
  5. Every time that someone gets charged for your subscription payment they have to make a decision whether to maintain your service, you have to make sure to keep them interested.
  6. Physical products can help keep your subscribers long-term.
  7. Recognize break-points in deciding your subscription prices.

I have learned all of these tips through practice in my own business.  I hope that these have helped you provide a better subscription service. 

Thanks for joining us, and I will see you again soon,

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