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I love subscription offers. Over the years I’ve sold hundreds of thousands, perhaps a million plus, subscriptions. Sell once and you’ll get guaranteed repeat business – automatically, if you get the first payment via a Direct Debit, Standing Orders or Continuous Authority Credit Cards.
In the 1980’s I bought the “Business Ideas Letter” business. They had moved into prestigious offices in the National Liberal Club on the basis that they were “The Institute of Small Business” rather than a commercial newsletter publishing company and because of this they paid only a peppercorn rent. Not only did they reduce their costs but they also noticed a big increase in their response rates. They then focused more and more on the “Institute” in their promotions.
Had I realised the value of this at the time I would have converted all our newsletter subscriptions to “memberships” but, to my regret, I didn’t.
This simple idea was confirmed to me recently when I was reading a book by Richard V. Benson called “Secrets of Successful Direct Mail”. In the book, he confirmed that if you converted your subscription offers to memberships your sales will dramatically increase.
I hate to work out how many more memberships I could have sold over the years had I realised this years earlier.
Now, you may not offer a continuity product or service but it will be worth you trying to put one in place – it really is the nearest I’ve seen to printing money.