Let’s say you write and sell a fairly successful monthly newsletter. How can you get your subscribers to bring you new subscribers?
Or maybe you have a growing membership. How do you get your current members to bring you more paying members?
The answer might be as simple as giving your existing subscribers or members certificates to give to their friends. In the case of the newsletter, let your subscribers give away 1-6 months for free. Limit the number of gift subscriptions they can give away to keep the perceived value high. Make the gift certificates look like they were paid for by your current subscribers, so that when they give them out, it appears they’re giving a valuable gift (which they are.) This also makes it more likely your subscribers will give the certificates out because there is a sense of pride in the giving of the gift.
When the gift recipients sign up to get their free subscriptions, you can offer them the chance to subscribe for a longer period of time at a reduced rate. Some will accept your offer, others won’t. Those who opt only for the free subscription will receive your offers to renew before their subscription ends. If you’ve provided a great value to them, some will subscribe. And when they do, you can then offer them certificates to give to their friends as well.
Remember, since your newsletter is delivered electronically, it costs almost nothing to give out gift subscriptions. And even if your newsletter is printed and mailed, the cost is still low compared to the number of new subscribers you are likely to get using this simple method. Of course, you’ll want to track your numbers to be sure it’s profitable.
And memberships can work the same way. Let your current members give away limited time memberships to a small handful of the people they think will appreciate it the most.
You might even do special promotions using this method. For example, you give out certificates in late April for Mother’s Day with instructions to give them to mothers who would enjoy the subscription or membership. Or prior to Christmas as gifts, and so forth.
If your membership or newsletter delivers a high value, using your current customers to bring in more customers can be the easiest, fastest and most cost effective way to get a continuous stream of new, happy customers into your business.