Recently it feels that every new startup is creating a subscription model (learn how to get more subscribers here) and focusing on that as there main source of revenue. Not surprisingly, we are doing that in our business. I did a fair amount of research and here are some things to test and use if you are doing an online subscription model business.
- Add a secure lock near your confirmation button
- Change the text of your confirmation button to some more positive action
- Have your confirmation button above the fold
- Include images of the Visa / Mastercard logos
- Test out pricing specials for first month. This has shown to work better than 14 day free trials, etc…
- Automatically put the user on a recurring plan vs. opting into it
- Include user testimonials and # of subscribers on your subscribe page
- Give them a surprise bonus to subscribe at the point of confirm
- Test varying lengths of time if you want to do a free-trial program: 7, 14, 30
- A/B test 50% off vs $50 off (or some equivalent amount)
- Allow them to subscribe for 1,2,3 years and default to 2 years. While building Facebook (read about my first day of work at Facebook) advertising users would more than average use the amounts and timeline that we defaulted too
- Add security badges to your confirmation page. BBB, hacker safe, etc…
- Provide a phone # on that page in case they are having doubts
- Use intellichat.com. Will talk more about this in a future article. Definitely one of the best startups on the market today.
My post about Mint v. Wesabe is similar and shows how small changes and focusing on key things will help you gain users, subscribers and ultimately help you beat the competition.
One of the most important things is to get the users to pay you something. Credit card, paypal or the new mobile payment services (mobillcash or zong). Once you have it you can make it one click ability to pay for other things and upsell them. If I missed anything please let me know.