It is with deep sadness that we have to inform you that Hilite Ltd ceased trading on May 31st 2018.
We would like to thank all our clients, suppliers and staff for 32 great years but regret that the new GDPR regulations have made it impossible to continue as we would have liked.
Should anyone have any questions we can be emailed on firstname.lastname@example.org We only have a skeleton staff but will aim to get back to you as soon as we can.
Back in the 80's I was invited to see the new 'Which Magazine' subscription computer. At the time I was blown away by the power - it probably had less power than a cheap modern day smart phone but in those days it was really something.
To demonstrate the speed they asked me if I knew anyone who subscribed to 'Which' and, as it happened, I did ... my mate Terry. Sure enough Terry's details flashed on the screen within 10 seconds and I could see he was paying £6.50 a quarter and he had been a subscriber for 2 years.
I met Terry a couple of days later and related the story. "That's wrong" he said "I only pay £6.50 annually not quarterly". I told him I was convinced I was right and the next time I saw him he confirmed it was and he vowed to cancel the standing order. Several years later I asked him about his standing order and he admitted that he still hadn't got around to cancelling it.
This shows two things:-
1. To make the initial offer more appealing you could choose the lowest possible amount for a limited supply. Chances are 'Which' offered a 3 month free trial and made the payments quarterly while most people assumed a subscription was annual.
2. Standing Orders/Direct Debits/Continuous Authority credit cards put inertia on your side. Ask a group of subscribers to renew a subscription and you'll be lucky to get 15%. Put them on automatic renewal and you'll get over 60%.
So, this week perhaps it might be worth looking at how you price your products and services and if you could put them on automatic renewal.