[et_pb_section bb_built=”1″ _builder_version=”3.17.6″ next_background_color=”#000000″][et_pb_row _builder_version=”3.17.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” make_equal=”on” custom_css_main_element=”align-items:center;”][et_pb_column type=”1_2″][et_pb_image src=”https://www.vicdorfman.com/wp-content/uploads/2016/01/jules-watkins-248×300.jpg” align=”center” _builder_version=”3.17.6″]
[/et_pb_image][/et_pb_column][et_pb_column type=”1_2″][et_pb_text _builder_version=”3.17.6″]Jules Watkins of Video Hero
“No need to put everything but the kitchen sink into your subscriptions.
Less is sometimes more.
Have at least one standalone product that your members can buy outside of their regular subscription.
Offering them a discount on this standalone product means they see the extra benefit of being a subscriber to your membership and increases your revenue at the same time.”
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.6″] [bctt tweet=”Don't put everything but the kitchen sink into your subscriptions. Less is more – @thevideohero”] [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_cta background_color=”#ffffff” border_radii=”on|10px|10px|10px|10px” background_layout=”light” title=”Connect with Jules” button_text=”Click Hered” _builder_version=”3.17.6″ border_width_all=”1px” border_color_all=”#7cda24″ header_font=”||||||||”]
- Jules' Twitter
- iPhone Video Hero – Learn how to make high-production value videos with just your iPhone
- ScreenFlow Hero – Learn how to use ScreenFlow to make amazing videos
Related: From Overworked TV Produce to Online Infopreneuer with Jules Watkins
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” make_equal=”on” custom_css_main_element=”align-items:center;”][et_pb_column type=”1_2″][et_pb_text _builder_version=”3.17.6″]Elissa Doucette of Craft Your Content
“Give customers choices (but not too many). I've found in sales situations, the three-tiered approach tends to work the best: one basic, one standard, and one luxury recurring package.
Don't just throw things on the luxury package that aren't valuable, but do write your copy to sell that one. Anyone who says they want the luxury package, but aren't willing to start with at least the basic or standard, are likely not going to buy from you anyway.
Sell them what they want – they'll either sign up for that one or aspire to get there.”
[/et_pb_text][/et_pb_column][et_pb_column type=”1_2″][et_pb_image src=”https://www.vicdorfman.com/wp-content/uploads/2016/01/elisa-doucette-300×300.jpg” align=”center” _builder_version=”3.17.6″] [/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.6″] [bctt tweet=”Give customers choices (but not too many) – @elisadoucette”] [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ custom_padding=”27px|0px|27px|0px|false|false”][et_pb_column type=”4_4″][et_pb_cta background_color=”#ffffff” border_radii=”on|10px|10px|10px|10px” background_layout=”light” title=”Connect with Elisa” button_text=”Click Hered” _builder_version=”3.17.6″ border_width_all=”1px” border_color_all=”#7cda24″ header_font=”||||||||”]- Check out Elisa's content marketing service, Craft Your Content.
- Follow Elisa on Twitter – https://twitter.com/elisadoucette
Dan Norris of WPCurve
“Adding an annual option and a higher level plan for VIP customers has made a big impact on our cashflow and overall revenue.
If you just have one plan, it's worth considering a discounted annual option and a higher level plan with faster response or more features.”
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.6″] [bctt tweet=”Adding a higher level plan made a big impact on our cashflow and overall revenue. – @thedannorris”] [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ custom_padding=”27px|0px|27px|0px|false|false”][et_pb_column type=”4_4″][et_pb_cta background_color=”#ffffff” border_radii=”on|10px|10px|10px|10px” background_layout=”light” title=”Connect with Dan” button_text=”Click Here” _builder_version=”3.19.4″ border_width_all=”1px” border_color_all=”#7cda24″ header_font=”||||||||”]- WPCurve – Unlimited WordPress Fixes
- The 7 Day Startup book and community
- Black Hops Brewing
- Twitter – @TheDanNorris
Related: How to Build a Massively Successful Service-Based Business with Dan Norris
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” make_equal=”on” custom_css_main_element=”align-items:center;”][et_pb_column type=”1_2″][et_pb_text _builder_version=”3.17.6″]Russ Perry of Design Pickle
“Create a brand that people can connect to emotionally.
If your clients are connected emotionally, they trust you.
If they trust you they are less likely to churn when bumps in the road occur (and they always do).”
[/et_pb_text][/et_pb_column][et_pb_column type=”1_2″][et_pb_image src=”https://www.vicdorfman.com/wp-content/uploads/2016/01/russ-perry-300×300.jpeg” align=”center” _builder_version=”3.17.6″] [/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.6″] [bctt tweet=”If your clients are connected emotionally to your brand they are less likely to churn – @russperry”] [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ custom_padding=”27px|0px|27px|0px|false|false”][et_pb_column type=”4_4″][et_pb_cta background_color=”#ffffff” border_radii=”on|10px|10px|10px|10px” background_layout=”light” title=”Connect with Russ” button_text=”Click Here” _builder_version=”3.17.6″ border_width_all=”1px” border_color_all=”#7cda24″ header_font=”||||||||”]- Russ's Twitter – @RussPerry
- Design Pickle – Unlimited graphic design for a flat monthly fee
- Russ's Medium blog
Related: From 0 to 150 Customers in 6 Months with Russ Perry
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.6″]Tips on starting and running a VC funded/fundable business
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” make_equal=”on” custom_css_main_element=”align-items:center;”][et_pb_column type=”1_2″][et_pb_image src=”https://www.vicdorfman.com/wp-content/uploads/2016/01/chris-thompson-300×125.png” align=”center” _builder_version=”3.17.6″] [/et_pb_image][/et_pb_column][et_pb_column type=”1_2″][et_pb_text _builder_version=”3.17.6″]Chris Thompson of truBrain
“Make sure the product itself is something that makes sense for replenishment on a monthly cadence that is fairly consistent.
Customizing too much is too complex and difficult to execute. Also, don’t try to compete with Wal-Mart or Amazon.
This means you must have a unique offering that is not just a simple commodity.
You must at least provide guidance with a commodity (ie DollarShaveClub), or else Amazon and WalMart will eventually beat you.
The product also can’t feel like a bulk send (ie Amazon); it must be “curated” and a stellar (ie Warby Parker) unboxing experience.”
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.6″] [bctt tweet=”Make sure your product makes sense for monthly replenishment – @topgetter”] [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ custom_padding=”27px|0px|27px|0px|false|false”][et_pb_column type=”4_4″][et_pb_cta background_color=”#ffffff” border_radii=”on|10px|10px|10px|10px” background_layout=”light” title=”Connect with Chris” button_text=”Click Here” _builder_version=”3.17.6″ border_width_all=”1px” border_color_all=”#7cda24″ header_font=”||||||||”]- truBrain
- Chris' Twitter – @topgetter
Matthew Paulson of MarketBeat
“Many subscription business owners focus heavily on front-end growth while letting existing customers slip out the back door through involuntary churn, which occurs when a customer is automatically cancelled when their credit card gets declined.
In order to reduce involuntary churn, use a payment provider (like Stripe) that automatically gets updated credit card numbers from banks. Also send a series of reminder emails to customers whose credit cards are about to expire or have already expired. You can automate this process using a service like Churnbuster.io.”
[/et_pb_text][/et_pb_column][et_pb_column type=”1_2″][et_pb_image src=”https://www.vicdorfman.com/wp-content/uploads/2016/01/matthew-paulson-200×300.png” align=”center” _builder_version=”3.17.6″] [/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.6″] [bctt tweet=”Reduce involuntary churn using a service like @churnbuster – @MatthewDP”] [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ custom_padding=”27px|0px|27px|0px|false|false”][et_pb_column type=”4_4″][et_pb_cta background_color=”#ffffff” border_radii=”on|10px|10px|10px|10px” background_layout=”light” title=”Connect with Matthew” button_text=”Click Here” _builder_version=”3.17.6″ border_width_all=”1px” border_color_all=”#7cda24″ header_font=”||||||||”] [/et_pb_cta][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built=”1″ _builder_version=”3.17.6″ prev_background_color=”#000000″ next_background_color=”#000000″][et_pb_row _builder_version=”3.17.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” make_equal=”on” custom_css_main_element=”align-items:center;”][et_pb_column type=”1_2″][et_pb_image src=”https://www.vicdorfman.com/wp-content/uploads/2016/01/damian-thompson.jpg” align=”center” _builder_version=”3.17.6″] [/et_pb_image][/et_pb_column][et_pb_column type=”1_2″][et_pb_text _builder_version=”3.17.6″]Damian Thompson of Salesability
“People focus on acquisition & retention, and those are necessary, but I think extension deserves attention also.
What else can you sell existing customers? Can you create a premium version of your subscription? Growing revenue in existing accounts is a great way to grow revenue.”
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.6″] [bctt tweet=”Extension deserves attention. What else can you sell existing customers? – @DamianThompson”] [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ custom_padding=”27px|0px|27px|0px|false|false”][et_pb_column type=”4_4″][et_pb_cta background_color=”#ffffff” border_radii=”on|10px|10px|10px|10px” background_layout=”light” title=”Connect with Damian” button_text=”Click Here” _builder_version=”3.17.6″ border_width_all=”1px” border_color_all=”#7cda24″ header_font=”||||||||”] [/et_pb_cta][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built=”1″ _builder_version=”3.17.6″ prev_background_color=”#000000″ next_background_color=”#000000″][et_pb_row _builder_version=”3.17.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” make_equal=”on” custom_css_main_element=”align-items:center;”][et_pb_column type=”1_2″][et_pb_text _builder_version=”3.17.6″]Jacob Puhl of Firegang
“Upsells. If you have a set of clients, there are no doubt quick win opportunities for upsells.
Often times, all it takes is one meeting with our team taking a deep look at our client list, and we could quickly identify some easy opportunities to a) create a quick, valuable product and b) sell it to our best customers.
You likely have customers who love your products and would be open to any new products you have.
For example, as a website development agency, a few years ago we saw that clients wanted separate mobile websites. So we quickly created a ‘Mobile Website” subscription product, identified our best customers and introduced the product to them. The whole process took no more than 2 weeks. A handful of them loved it and bought it, and we were able to add a fast, significant bump to revenue just by thinking creatively with upsells and acting quickly with the customers who loved us already.”
[/et_pb_text][/et_pb_column][et_pb_column type=”1_2″][et_pb_image src=”https://www.vicdorfman.com/wp-content/uploads/2016/01/jake-puhl.jpg” align=”center” _builder_version=”3.17.6″] [/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.6″] [bctt tweet=”There are no doubt quick win opportunities for upsells with current customers – @JacobPuhl”] [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ custom_padding=”27px|0px|27px|0px|false|false”][et_pb_column type=”4_4″][et_pb_cta background_color=”#ffffff” border_radii=”on|10px|10px|10px|10px” background_layout=”light” title=”Connect with Jacob” button_text=”Click Here” _builder_version=”3.17.6″ border_width_all=”1px” border_color_all=”#7cda24″ header_font=”||||||||”] [/et_pb_cta][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built=”1″ _builder_version=”3.17.6″ prev_background_color=”#000000″ next_background_color=”#000000″][et_pb_row _builder_version=”3.17.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” make_equal=”on” custom_css_main_element=”align-items:center;”][et_pb_column type=”1_2″][et_pb_image src=”https://www.vicdorfman.com/wp-content/uploads/2016/01/michael-erickson-300×264.png” align=”center” _builder_version=”3.17.6″] [/et_pb_image][/et_pb_column][et_pb_column type=”1_2″][et_pb_text _builder_version=”3.17.6″]Michael Erickson of Search Scientists
“Subscription services must ruthlessly analyze and reduce their churn rate.
I look at our churn rate calculations with the same importance as a financial document.
Let's say a high ticket service loses 6 clients every quarter of their 60 total clients. Every quarter, they're starting their sales and marketing 10% behind the starting line just to break even. This treadmill is extremely dangerous and represents an unhealthy business to me.
Alternatively, high retention and low churn has a beautiful emergent effect on a subscription business. You can spend more to acquire a customer than your competition. You can better predict and prepare for growth than your competition.
Best of all, low churn is a direct indication that you provide a better service than your competition. Achieve this, and the rest will fall into place.”
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.6″] [bctt tweet=”I look at our churn rate with the same importance as a financial document – @SearchSciMike”] [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ custom_padding=”27px|0px|27px|0px|false|false”][et_pb_column type=”4_4″][et_pb_cta background_color=”#ffffff” border_radii=”on|10px|10px|10px|10px” background_layout=”light” title=”Connect with Michael” button_text=”Click Here” _builder_version=”3.17.6″ border_width_all=”1px” border_color_all=”#7cda24″ header_font=”||||||||”] [/et_pb_cta][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built=”1″ _builder_version=”3.17.6″ prev_background_color=”#000000″][et_pb_row _builder_version=”3.17.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” make_equal=”on” custom_css_main_element=”align-items:center;”][et_pb_column type=”1_2″][et_pb_text _builder_version=”3.17.6″]James Key Lim – High Performance Coach and Early Zappos Employee
“Partnerships are key. Look before and after your position in the value chain to find where you can partner.
Let’s say you specialize in WordPress fixes. Earlier in the value chain would be hosting companies. You can partner with them to get leads. Now look at the the later end of the value chain, which would be something like a digital agency. You should try to refer them inbound projects which don’t fit your offerings that you’d otherwise be turning away.
Either or both of these approaches will allow you to improve the business with only a little extra effort, while allowing you to focus on your strengths.”
[/et_pb_text][/et_pb_column][et_pb_column type=”1_2″][et_pb_image src=”https://www.vicdorfman.com/wp-content/uploads/2016/01/james-key-lim-300×300.jpeg” align=”center” _builder_version=”3.17.6″] [/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.6″] [bctt tweet=”Partnerships are key. Look at your position in the value chain to find partners – @JamesKeyLim”] [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.17.6″ custom_padding=”27px|0px|27px|0px|false|false”][et_pb_column type=”4_4″][et_pb_cta background_color=”#ffffff” border_radii=”on|10px|10px|10px|10px” background_layout=”light” title=”Connect with Jacob” button_text=”Click Here” _builder_version=”3.17.6″ border_width_all=”1px” border_color_all=”#7cda24″ header_font=”||||||||”] [/et_pb_cta][/et_pb_column][/et_pb_row][/et_pb_section]
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