[30Daysto30K] Day 12 - Upsell to Annual... LIFETIME?!

Ok, today's "post" is specifically for those with membership or monthly recurring payment offers.  When selling your monthly payment offer (ex: $37/mo) I'll make a case for using a 1-Click-Upsell to upgrade your members to annual. 

But I'll go a step further and and make a case for using a 1-Click-Upsell to upgrade your members to a LIFETIME offer.

Upgrading to Annual

This is simple. In your upsell video you will invite people to upgrade to annual. They will have two benefits for doing so:

• save money
• get an added bonus 

We recommend giving annual members 2 months free. So, just add a zero at the end of your monthly rate, and you've got your annual. $37/mo becomes $370. $97 becomes $970. You get the idea. (Important: because this is a one-click upsell, the customer has already PAID for the first month, so make sure to SUBTRACT that from the annual rate as well.) 

You'll also want to provide them with a bonus as well. Any additional training or resource you find valuable may help motivate more to upgrade.  

As a bonus BONUS... consider giving your annual members additional "status" perks... maybe they get a different "badge" or title (such as VIPs, etc) 

Upgrade to Lifetime

This idea is rather radical... some would say crazy. But it works.  And it comes back to our concept of CASH IS KING. Average Order Value... and Lifetime Customer Value matters. The idea is simple: pitch a LIFETIME ACCESS pass. It's a one-time-payment, and they get access FOREVER. Never to pay another dime again.

So... how much?  The rule of thumb: take your annual membership rate, and multiple it by 3 to 5.  That's your lifetime. So, $2,910 becomes the LIFETIME ACCESS rate for a $97/mo. 

Sounds nuts, right? 

Well, I've been in rooms with top, TOP earners, and they all do this. And... they only get 3-5% of their customers to take this offer. The conversions may seem low, but the UPFRONT cash is huge. 

But now the question is... do you offer both?! 

And it IS a great question. I wish I hasd solid data on what the best approach is. My prevailing theory is YES you can offer both.

Option 1: monthly member ---> Upsell 1: Annual --->if yes, Upsell 2: Lifetime

Option 2: monthly member ---> Upsell 1: LIFETIME ---> if no, Downsell 1: Annual  

In my opinion, either of these two options can work... which one will work better?  Only time and testing will tell! 

Oh! and if you're already thinking, "hey James why can't I offer an annual or a lifetime membership to my EXISTING monthly members!"

Well... you CAN! And that's another promotion! But you absolutely can take either of these options and turn it into a member-only email campaign to get your members to upgrade!  Now we're talking!!