What would you do with a list full of paying customers?
What kind of product or service would you offer? How could your business take advantage of interested, ready-to-buy prospects that already trust what you have to say?
That’s the beauty of building an audience. If you’re a reader of the Target Margeting eNewsletter, then you’ll be familiar with Denny Hatch. He’s an old copywriter with more experience in the industry than I’ve been alive. A big shot business guy with a list of 800 000 people wanted to monetize it. So he asked Denny for help.
Denny’s wife mentions that all you have to do is find a reason for everyone on that list to pay $1 a month.
So again I ask, what would you do with a list of paying customers? Would you offer a subscription service, exclusive content, or privileged functionality?
Who are you customers? Why did they give you their contact info in the first place? They trusted you enough to give you such precious info. You probably gave them something in return. Or they are previous customers. Which means they’re already used to the idea of giving you money.
What else can you offer these wonderful people that would be worth just $1 a month more?
In financial industries, safe investment advice that will make more money for your audience than $12 / year is pretty valuable. Offer an extra layer of financial protection, or monthly reports that dig deeper than the year end evaluation.
If you’re a software company, offer an extra level of support or customization. Or offer an exclusive upgrade that is going to save your users more time.
What if you’re a plumber, electrician, or mechanic? The trades are fairly straight forward. People pay you only when they need you. What would be worth it to people to pay up monthly?
How about a specialized plan that customers pay into monthly so that when they do need service, they only pay a percentage of the parts costs.
Or do monthly checkups. Stop by once a month for 15 minutes perform a bit of preventative maintenance. It’s something an apprentice can do that will generate greater revenue than their salary. That’s worth more than $1 / month. You could probably get away with $10-$15 / month, depending on your client base.
What do you think? Where is the value for your customers and the simplicity of execution for you? Find that sweet spot and you’re making money while offering superior service.
If these ideas sparked something in you, tell me about it in the comments. Or email me. If you’re a reader, please enjoy the rest of the blog.
This podcast isn’t up on iTunes yet, but it should be next week. That’s the beginning of December 2014. Whoa, Christmas is coming. Rate Lift Off on iTunes and leave a comment.
This was lift off. Fly true today, and land safe. See you tomorrow.[optinform]