If you don’t tie up your business with continuity, it’s hard to make long-term profits. It is simple as that. If you just have a product, you can be stuck on the hamster wheel continually trying to find new customers each month. Wouldn’t it be nice to have a customer signed up once, and have them paying you month after month? That’s where the importance of continuity comes into play.
There are many ways you can add continuity in your business and marketing process. This is why lots of websites carry out daily, weekly or monthly newsletters, membership sites, offer free checkups, weekly adjustments, etc. It’s very important to attach some form of continuity in your product if you like to see a dramatic boost in revenue.
If we do the simple math, you can see why continuity can help you get off the hamster wheel. Let’s say you have a product that sells for 50 dollars and you sell 100 each month. After each month your generate 5000 dollars. At the end of 12 months, you make a total of 60,000 dollars. Now that’s with finding 1200 new customers, but you have to go to work to find 100 new customers each month.
Now let’s say have a subscription at $50 a month. You have 100 customers. Again that’s 5000 dollars coming in each month with only finding 100 customers for the whole year! Okay, those of you who have a subscription already in place know that there are also cancellations that happen, so it isn’t picture-perfect. However, if you have quality information and a low cancellation rate, you only have to focus on finding a couple more customers each month to make up for the dropped customers to make the same $5000 each month.
Isn’t that easier than finding 1200 new customers for the year? Now imagine if you are a go-getter and found 1200 new customers for your subscription, and they are paying you month after month. That a total of $60,000 a month! Continuity can make a huge difference in your revenue stream.
It is also important to have a good understanding of your customer’s lifelines about your product. This involves finding out your drop-off points. If you are sure that many people don’t come back after receiving the first subscription, the next step is for you to build on the sticking points that will strengthen the customer’s willingness to stay with you.