Offer lifetime memberships to get early traction and find first users.
Lifetime memberships are an effective growth marketing tactic for businesses that have a low marginal cost for each additional customer and a low repeat rate. Marketplaces like AppSumo can give massive exposure to your product if you’re willing to offer these kinds of deals. However, it’s important to consider the potential risks associated with lifetime memberships, such as what happens if you need to close your company or get acquired. An alternative is to structure the membership as a fee for 3 years, after which you may decide to provide access free of charge.
How to implement
- Analyze your business’s marginal cost for each additional customer and repeat rate.
- Decide if offering lifetime memberships is a viable option.
- Draft a separate contract stipulating what happens when a customer can no longer access your service through no fault of yours.
- Consider an alternative option of structuring the membership as a fee for 3 years.
- Reach out to marketplaces like AppSumo to get massive exposure for your product.
- Monitor the success of your lifetime membership offering.