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Vern
Joined:
02 Mar 2006
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Posted: Thu Aug 10, 2006 11:15 am
Post subject: Get first pay later strategy
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Hi,
Was reading a book titled "e-code" this morning, i came across a a writeup regarding allowing the visitors to download the product first and pay later. Of course, by the 21st day, if they haven't made the payment, they will receive a series of "reminder" for the next x number of days.
I was thinking of implementing this strategy for my product where visitors can opt-in to get this special arrangement, and once they made the payment, they'll receive the bonuses.
Just wondering..
Have you tried the "get first pay later" strategy before?
What do you think about this strategy and will you actually make payment if you like the product?
Vern.
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Avalon
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13 May 2006
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293
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Posted: Thu Aug 10, 2006 4:59 pm
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Well... I don't know if that's a good idea at all. I have no idea what your product is, but if it's software based you are MUCH better off either a) making it fully functional with an internal expiration (a demo product) or b) releasing it as a limited functionality "free" version and then users can pay for the upgrade. I am going to bet the vast majority of people won't actually pay anything for it if they continue to use it, even with all your reminders. Example. I use WinZip (as I'm sure many people do). When you boot it up it shows the "Winzip is NOT free software" thing where they state you should pay the $29.99 to register. You know what? I've had it on my system for 2 years now and have not registered. So, I think you will experience the same thing.
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Vern
Joined:
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Posted: Thu Aug 10, 2006 11:19 pm
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Hi Avalon,
Thanks for our reply.
I guess information product is a better choice for this strategy. Since i will have not much to loose and signup/order is going to increase.
I believe the following elements make a difference in thir strategy
1. The pricing of product
2. Types of bonues to attract them to pay
3. what i want e.g. get more opt-in or to sell more products
Vern.
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InternetMarketing_IQ
Joined:
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Posted: Thu Sep 07, 2006 4:43 am
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It's a common practice so some people must be using it. And as long as you have a good uninstall program why not?
You now IBM uses a similar tactic. They get a business to go with their less expensive (than the competition) products for a year or two. Then when the business grows they have all their data with IBM. So they have to decide if they are going to scrap everything or just pay what IBM now wants. Usually the cost of scraping is much higher than the cost of staying with IBM at new higher prices. It's College Case Study marketing. Every business has a plan.
So your real question isn't what a couple of people think of the idea. It's do you have a way to implement your plan on the backend? If you have a really solid backend what you charge on the front end is not that important. You want to get the product in the hands of users.
What do you do if they don't pay up. What do you do if they do? And of course as mentioned if the product is still fully functional and there is no way to disable it users are not likely to pay for it.
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