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What’s the deal with fickle subscribers anyway?

Transcription

Why are subscribers leaving faster than they’re coming?

Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.

When we’re talking subscribers, we’re talking about anybody doing any type of membership out there. And this idea, I just recently heard on an older podcast from Russell Brunson, where he had mentioned that Dan Kennedy had brought this up one time.

It’s a really, really good point, and that is that almost any business that runs off of a membership model, where you have something that you’re selling on a regular basis, oftentimes, it’s a monthly basis, but could be an annual basis, or what have you.

If people are paying for something on a predictable, ongoing basis, then you have a subscription model-style business.

In that case, you really have to look at, okay, who’s coming in and who’s going out. What you’ll end up finding is, you have to really speed up, the people coming in to make up for the people going out.

This is because of a disconnect in most business owners’ minds when it comes to these type of membership ideas. Because there’s a huge thing, that doesn’t make a whole lot of sense initially. But after you’ve been involved in the business a while and you’ve had a lot of interaction with customers, you start to see this over and over again.

That is that people initially subscribe or buy into something for one reason, but then they stay, if they actually stick you whatever your stick rate is, whoever is sticking, they’re sticking for a different reason, almost always, almost every single time, it’s going to be a different reason than why they came in.

Sometimes they don’t know why they’re staying. But it can be found out by really getting to know as many of your stick customers as possible, whoever sticking around for the longest, you have to constantly probe them and find out what do you like the best? What what do you really get out of this.

What you’ll see what I’ve seen most often with the clients that I’ve had, and the people that and the subscriptions that I’ve I’ve kept oftentimes you get involved for something flashy, something, something that’s that that’s exciting, you know, something that gets your blood flowing a little bit, that, you know, that maybe it’s it’s being around or in the presence, or having direct communication with a charismatic figure, you know, that’s a common thing.

Maybe it’s the fact that there’s a product, a consumable product that is tied to it that you, boy, you, you just want to have as much of that product as you can. And so that’s why you initially do it.

People don’t stick off of those things, because those are all impulse-based buying, very emotional-based buying, and that stuff eventually fizzle out, we fall out of love. We fall out of excitement, and we eventually come off of it is that whole concept of buyer’s remorse.

How does Why does buyer’s remorse happen?

Buyer’s remorse happens because people get high off of the purchase and then they eventually get a low off the high, they drop off of out of after skyrocketing, they drop.

That drop becomes something we call buyer’s remorse and it happens just as often, if not more often in a subscription model.

So really, you end up seeing over a very predictable period of time, most people or a good portion of people dropping off of your subscription, you’ll see it you’ll see very, very common time period that people stick on and then they fall away. So how do you get them to stick?

A big thing is a community, any sense of belonging, community, anything like that, that’s the thing that I’ve seen that’s worth the best across the board.

Also, if there’s a tangible result, that has a consistency to it, that they don’t want to give up, if there’s a very tangible result that they will lose.

Upon ending the subscription, then that’s, that’s really one of the things that they’ll they’re going to have a tough time. They’re going to have a tough time disconnecting. If you have that and you’re you have to remind them of it too because they’ll forget until after they unplug what life was like before they were plugged in.

So those are two of the most common ones. I discussed this a little bit, in my book, 9 Ways to Amazon-Proof Your Business. It’s really more of the psychology that I cover in there.

I’ve got a whole chapter on belonging and why it’s important. And really, if you don’t have a subscription-based business, this may sound like a little bit of a nightmare.

But I think that a whole lot of the benefits outweigh the issues that come along with having a subscription-based business, having that consistent, predictable income is, is really, really, really handy. It’s handy and growth.

It’s handy and knowing, knowing how you can build your business, what you can depend on what you can’t depend on. And you just have to tweak it a little bit as you go along and pay attention to some of these principles that aren’t necessarily initially something that would enter your mind but it’s common.

It’s so common across the board, that it’s something that anybody that is looking for passive income from their business needs to understand this psychological phenomenon that people buy for a different reason than why they continue buying, so to speak. So hopefully that makes sense to you.

Go check out my book, you can get a free copy on AmazonProofBook.com.

Or buy a hard copy over at Amazon.com or wherever books are sold. That’s all I got for you tonight. You have a good one. We’ll be back tomorrow.

Get out there and let the magic happen.