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3 Things You Need to Know for Your Small Business Today

3 Things You Need to Know for Your Small Business Today

Keep your clients happy to maximize your profits - kind of obvious don't you think.  The author offers insights.  Customers are fickle, capricious.  they are constantly being bombarded.  It is not always easy to keep them happy.  Communication is one key.

The new trend in advertising is taking on your competitors.  Direct aim is the key.  No hold bars.  Show your audience what a bunch of fat, slimy slobs your competition is.   

What converts better: a free trial or a 30 day guarantee?   I've always wondered about this.  I think a free 30 day trial. That's the best of both worlds.  I don't like the free 7 day trial because it takes me 7 days to get to the program.   The author offers his insights. I'll list them for you here if you don't want to read the article.  Lazy head. 

Conclusion

If you look at the tests, here are the revenue results, assuming if you used a round number of 100 signups a month.

  • Original offer (no guarantee/no trial): $19,700 a month in revenue
  • Money back guarantee offer: $20,976 a month in revenue
  • Free trial with credit card upfront offer: $24,428 a month in revenue
  • Free trial with credit card upfront combined with a money back guarantee offer: $24,428 a month in revenue

Although those were the results from the Quick Sprout Traffic System tests I ran, the results can vary drastically for you. So don’t assume what works for me will work for you… you have to run A/B tests.

If I had to do things over again, I would do a few things differently:

  1. I would test a $1 trial, as that could potentially decrease the failure rate of credit cards going through, versus a $0 free trial.
  2. I would create an email drip sequence that would go out to all of the people who’s card didn’t go through on the free trial, as that could potentially help increase revenue.
  3. I would survey all of the people who asked for their money back or cancelled their trial to find out why and see if I could modify the Traffic System to increase their overall satisfaction with the product.
  4. I quickly learned that a lot of my buyers are people in international countries like India, so I would test payment plans instead of just charging people $197 up front. This should help increase how many people signup as well as continue the trial.
  5. If you give a customer everything they need before the free trial is over, there is no need for them to continue the trial. In the future I would like to test giving people half of the Traffic System during the trial and the second half after the trial is over. Or giving them the full system on day 1, but provide bonuses over the next 30 days to entice them to continue to stay on. I think this would decrease cancelations and refunds.

So what do you think about free trials and money back guarantees? Which one do you prefer?


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