Latest Conversion Numbers on Our $1 Trial Membership
A quick update on our changeover to a $1 trial period for 7 days. As you may remember, I posted a few weeks ago about our change from offering only a one-year or lifetime membership to a $1 teaser rate for the first 7 days and then $39 per month thereafter.
I’m pleased with the numbers so far. 26.6% of the $1 subscribers are “sticking” and converting to the $39 monthly membership. I honestly have no idea if that is above or below the norm for sites in our industry – that’s something I need to research a bit more.
I do know that our conversion on the upsell (the offer we make to them on the thank you page immediately after they sign up for the $1 membership) is very low – only about 6%. I think it has to do with the way we are selling the product. I currently do so with a short video of me explaining what they can buy, but I’m not pleased yet with they way I’m explaining it. My poor brother is having to deal with a new video almost daily that I am making in order to perfect the pitch.
But overall, I’m pleased with the conversion numbers.
Next interesting thing to watch is how long we keep those members at $39 per month.
One thing we are still battling, though, is momentum. We get a nice spike in traffic whenever someone sends an email promoting our site, only to have it come right back down to our daily average. We never seem to keep that traffic. I know why – I’m just not sure of the solution.
We don’t have a blog on the site and so there is nothing there on a daily basis to bring them back. Yet if we offer some new form of content each day, it may decrease our $1 signups because we’ll be giving too much away for free.
Our mailing list, however, is growing as we capture those people who come in. So we’ve been monetizing our list in other ways with affiliate offers. In that sense, the revenue IS growing, albeit not nearly as quickly as I would like.
I’ll keep you updated!
The Interview Income blog is written by Tim Bourquin and Emile Bourquin, brothers and owners of Ideas For Download. The Interview Income Blog is your front row seat to see what we've done that worked and failed in selling content online. Thankfully, we've been pretty successful but we promise to always show you the reality of building an online business.
