The following video is borrowed from our BusinessTraining.com 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:
- There are multiple types of subscriptions agreements including: paid membership, a service subscription or a product payment plan subscription.
- Most people will cancel a membership subscription after 5-6 months.
- Consider an up-front fee that makes it an investment for them in your membership service.
- Charging 30-40% of the total cost of the membership up-front can help in terms of profitability.
- 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.
- Physical products can help keep your subscribers long-term.
- 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,
