Running a Lifetime Deal campaign can be an exciting time for any business.
The rush of sales, the influx of new customers, and the increase in brand awareness can make it easy to get caught up in the momentum of it all.
It’s essential to remember that running a successful campaign takes a lot of work, and it can be exhausting. After the campaign has ended, it’s important to your original product roadmap while leverage the benefits and momentum of your Lifetime Deal campaign.
But can you amplify these positive effects of Lifetime Deal by running back-to-back Lifetime Deal campaigns?
No. Here’s why!
The Drawbacks of Running Back-to-Back Lifetime Deals
Your Lifetime Deal live period is undeniably a high-intense period.
Your product will see an influx of user signups, user queries will flood in, and your customer support will almost always be engaged. And you will have to further work on the product to work on any potential bug fixes and keep the system up and running.
Once you close your Lifetime Deal campaign, you and your team will be likely exhausted.
Overlooking that, here are a few reasons why running a Lifetime Deal can harm your business growth.
You’ll Saturate Your Target Market
Offering a lifetime deal too often or too quickly can oversaturate the market with Lifetime licenses to your product.
It can potentially decrease the perceived value of your product. Your customers may start to see your product as something that’s always on sale, rather than a premium offering that’s worth the full price.
Back-to-Back Lifetime Deals Lowers Your Recurring Revenue
Running another Lifetime Deal immediately after closing one can lead to lower revenue, as customers who missed out on the first deal may be hesitant to purchase your product at full price later on.
Instead, they will be expecting a subsequent Lifetime Deal, rather than subscribing to your product. It will harm your chances of generating recurring revenue.
Additionally, some customers may feel like they were “tricked” into buying the product at the Lifetime Deal price and may not trust your brand as much in the future.
Moreover, it may also encourage license resellers to sell lifetime licenses to your product in the black market.
Loss of Customer Trust
Running multiple Lifetime Deals back to back can also erode your customers’ trust in your brand.
If customers feel like you’re only offering the deal to make a quick buck, rather than genuinely wanting to help them. They may not be as likely to become loyal customers or recommend your product to others.
Since it is one of the most rewarding effects of running a Lifetime Deal, you will be missing out on a business growth opportunity big time.
The Benefits of Taking a Break and Focusing on Customer Needs
Once you close a successful Lifetime Deal campaign, it can be tempting to immediately plan your next Lifetime Deal campaign after a successful one.
However, taking a break and focusing on your customers’ needs can be much more beneficial for your business in the long run.
Here are some benefits of taking a break and prioritizing your customers:
Improving the quality of the product based on customer feedback
After a Lifetime Deal campaign, you likely have a lot of feedback from your customers.
Taking the time to analyze this feedback can help you make significant improvements to your product. This feedback can also help you identify what your customers need and what they are willing to pay for.
By incorporating these changes, you can make your product better and more valuable for your customers.
Building Stronger Relationships with Customers through Excellent Customer Service
By taking a break from running back-to-back Lifetime Deals and focusing on customer needs, you can dedicate more time to providing excellent customer service.
Responding to customer inquiries promptly, resolving their issues, and showing them that you care about their satisfaction can build stronger relationships with your customers.
This can lead to positive word-of-mouth marketing and increased customer loyalty.
Fostering Customer Loyalty by Demonstrating a Commitment to their Success
When you take a break to focus on your customers, you show them that you are committed to their success.
By providing them with the resources and support they need to be successful, you can help build loyalty and trust. This can lead to repeat business and referrals, which can be extremely valuable for your business in the long run.
Strategies for Improving Product and Customer Relationships
Taking a break after running a Lifetime Deal campaign can offer an opportunity to focus on improving the product and building strong customer relationships.
Here are some strategies that can be implemented during this time to improve the product and customer relationships.
Analyzing customer feedback and usage data to identify areas for improvement
During the break, analyze the feedback collected during the Lifetime Deal campaign and usage data to identify areas for improvement.
This feedback can help identify bugs, features, or aspects of the product that customers may not have liked or understood. By addressing these issues, you can improve the product’s overall quality and enhance the user experience.
Engaging with customers to solicit feedback and respond to inquiries
Engage with your customers through social media and email during the break to solicit feedback and respond to any inquiries they may have.
This shows that you care about their opinions and value their input, and it can also help build a stronger relationship with them.
Creating a sense of community through forums, user groups, and events
Creating a sense of community can also help improve the product and foster strong customer relationships.
Consider creating forums or user groups where customers can discuss their experiences and offer suggestions for improvements.
You can also host events to connect with your customers and show them that you are committed to their success.
At the end of the day, taking a break after a Lifetime Deal campaign can provide an opportunity to focus on your customers and improve the product.
By analyzing customer feedback, engaging with customers, and creating a sense of community, you can make significant improvements that will benefit both you and your customers in the long run.
Investing time and resources in improving the product and building strong customer relationships can pay off in the form of increased customer loyalty and improved word-of-mouth marketing.