Lifetime deals are popular with customers who want to save some money and simplify their lives.
However, your organic SaaS monthly subscribers may not feel positive about a potential Lifetime Deal on a tool that they have been paying month after month to use.
If you do not plan your lifetime deal campaign properly in advance, you may end up losing your monthly paying customers to a lifetime deal. Or when you deny them a lifetime deal, you risk losing doing business with them.
It can create quite a mess, despite the incredible benefits that come with running a lifetime deal.
So what can you do to avoid such chaos?
To avoid losing monthly subscribers due to lifetime deals, there are several strategies a business or subscription service can adopt.
In this article, we explore these strategies and provide tips on how to manage long-term customers without sacrificing revenue from new subscribers every month.
Your Chances of Losing Subscribers to LTD
The only proper way to avoid losing subscribers to Lifetime Deal is to run the LTD to only new users.
Still, your chances of losing your monthly subscribers to Lifetime Deal are not zero.
Here’s what we have experienced in the past.
From our experience of having sold products worth millions on SaaS Mantra, there have been about roughly 3-4 instances where monthly users reached out to the founders requesting a Lifetime Deal.
And out of 4 people, only one user (regular subscriber) has a special Lifetime Deal.
Hence, if you already have a good number of subscribers, organically or through other channels, chances are they might come across your Lifetime Deal offer. And they are likely to request a lifetime deal.
What to do When your Subscribers Request Lifetime Deals?
When we came across such a scenario, we worked out a strategy to keep them much more happy customers by offering them a big discount on annual pricing.
If you wanna switch to annual pricing, you can offer them, offer them like really good, discounted pricing when they talk to you about like Lifetime deal.
Another way you can manage existing subscribers is to provide them with exclusive benefits. You can offer additional features or discounts that are not available to new users, such as early access to new updates and special customer support. This will help you retain your current customers while still allowing new customers to benefit from the lifetime deal.
Despite all these measures, the best way to handle it is to avoid it altogether.
How to Avoid Losing Subscribers to Lifetime Deals?
Losing subscribers to Lifetime Deal customers is a dire concern for SaaS Founders and it should be yours too.
One of the best ways to avoid losing your subscribers to LTD is by preparing your Lifetime Deal campaign in advance. If you have any challenges or concerns, you can definitely discuss them with the SaaS Marketplace promoting your SaaS Lifetime Deal.
Steps to Avoid Losing Subscribers to Lifetime Deals
1. Target the right audience for your Lifetime Deal
It is essential that you target the right audience for your Lifetime Deal. You should focus on acquiring new customers and not existing ones. Identify where your existing subscribers are located. Promote your Lifetime Deal only outside where your existing subscribers are located.
2. Segment Your Subscriber Email List
One of the best strategies is to segment your email list into subscribers and non-subscribers. Then you can run your Lifetime Deal promotional email campaigns only to your non-subscribers.
3. Price your lifetime deal carefully
Make sure that the Lifetime Deal price is higher than what a regular monthly subscriber would be paying for a year of subscription. This will ensure that new subscribers are not tempted to go for the Lifetime Deal.
4. Offer exclusive benefits to existing customers
As mentioned earlier, you can offer your existing customers exclusive benefits such as early access to updates and special customer support. This will make them more loyal customers and help retain them.
A Lifetime Deal can be an effective way to acquire new customers, but it is important that you take the necessary precautions. It will ensure you don’t lose your monthly subscribers to Lifetime Deal.
By following the strategies mentioned above, you can ensure that you are able to retain your loyal customers without sacrificing revenue.