I’m honored to have Jimmy D. Brown as a Guest Blogger in today’s post. I’ve been learning from Jimmy for almost 10 years now, and my Article Marketing for Beginners is modeled after his MemberNaire course.
So here is Jimmy D. Brown with…
3 Ways to Create a Recession Proof Business
Just because the world economy is shaky doesn’t mean you need to participate in a recession. Indeed, a slow economy can prove to be an opportunity for a savvy marketer.
You can actually build a business that attracts people who’re looking for ways to save money and get a lot of value for their dollar.
Here then are three ways to do exactly that…
1. Create a FTM Site With a Short Duration.
While most membership sites go on indefinitely (and the members get rebilled month after month – “forever” – until they cancel), a fixed term membership (FTM) site runs for a limited duration. The duration may be anywhere from a couple months to a year or more, during which time members pay a fee each month and receive new materials regularly (often weekly).
The main benefit of running a FTM site is the high retention rate.
Because your customers can see a definite end date, they tend to remain members through to the end, rather than dropping out early. And that not only puts more front-end profits in your pocket, it also gives you more opportunities to cash in on profitable backend opportunities.
However, in a feeble economy, even a six-month commitment may seem like a long time for a customer who’s not sure what his finances will look like half a year later. He doesn’t want to start a membership only to be forced to quit before the course is over.
And that’s why creating a three or four-month FTM site makes so much sense.
You get the benefit of a high conversion rate, since you’re promising results in a short amount of time. You also get to enjoy a high retention rate, since almost anyone who starts a three or four-month course is likely to finish.
Your customers get the solutions they need at a subscription price they can afford. It’s a win-win situation.
2. Present a Desirable End Result.
Your customers don’t want to learn about a topic just for the sake of learning. Instead, they want to purchase solutions that give them a specific end result.
- Customers of a weight loss FTM site aren’t merely interested in learning about weight loss. Instead, at the end of the three or four months they want a specific end result, such as losing 20 pounds or dropping a couple dress sizes.
- Customers who join a marketing FTM site don’t want to merely learn about marketing. At the end of three months, they want tangible results, such as a product, a sales letter, traffic… and money in the bank.
- If you’re running a dog-training site, then give your customers a tangible result, such as a well-trained, socialized and happy dog in three months.
3. Toss in a Bonus Worth More Than the Entire Subscription
In a slow economy, people across niches are looking for value. They want to know they’re getting a good deal.
No matter what the economy is doing, your FTM site should provide value. That means that the expected end result you’re promising should be worth more to the customer than the subscription fee he paid.
However, you can make your business virtually recession proof by giving your customers an extra incentive when they purchase a three or four month subscription to your site. Ideally, this incentive should be worth more than the entire subscription.
Example #1: Let’s say your membership lasts for three months at $20 a month, which is $60 total. You might offer your members a bonus book or video worth $97.
Example #2: Let’s suppose you have a four-month membership at $37 per month, or $148 total. You might offer something worth $200, such as a personal consultation with you or free access to another membership site.
You can’t control the economy, but you CAN control how your business responds to the economy.
By offering value, a desirable end result and a solution in a relatively short amount of time, you can easily persuade more people to become customers – even in a recession!
Jimmy D. Brown is “retiring” all of his products and services! After 10 years as an internet marketer, Jimmy is closing down all of his current sites … removing all of his ebooks, reports, membership sites, software programs, coaching programs, etc. Grab your copy of “MemberNaire – How to Set Up Your Own Membership Site in 48 Hours or Less” by clicking here.