Poll: Lifetime subscription plans, do they make sense?
Calvin Woo
4 replies
More often these days, I'm seeing lifetime plans alongside the standard monthly and yearly options despite the concept seeming like a bit of a paradox. Are they a good option to include in a product's offering?
Replies
Saif Ullah Khalid@saif_ullah_khalid
In this competitive and saturated market, some things have to be done to attract people.
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makes more sense than hosting a mini product on a website and charging monthly for it imo
lifetime plans. a proposition that sparks intrigue, yet begs questions. sustainability vs. immediate cash influx?
think of it as a high-stakes poker game. both players, the business and customer, eyeing long-term gains.
for businesses, the quick capital can accelerate growth. yet, what about ongoing service costs?
for customers, it's a gamble on the product's longevity and continued quality. trust is currency.
in the tech world, a lifetime is often shorter than we imagine. businesses pivot or perish.
consider a middle ground—“lifetime” with conditions. a way to balance risks for both parties.
always, always read the fine print. both sides need to know what "lifetime" really entails.
no one-size-fits-all. customer segments differ. what works for one may not for another.
running the numbers matters. can you sustain a lifetime offering while continuing to innovate?
ultimately, it's a strategic decision. risk and reward, finely balanced on the scale of long-term vision.
It depends on the business model. For example, if it enables to maintain a relationship with the customer and then sell them additional products, the conversion rate could be much higher since people, in general, value the sources they have already invested in.