In episode #756, Eric and Neil discuss whether it is better to charge a monthly fee or a one-time fee. Tune in to hear which is more lucrative.

TIME-STAMPED SHOW NOTES:
[00:27] Today’s Topic: Is It Better to Charge a Monthly Fee or a One-Time Fee
[00:40] If you have a monthly fee, look at the lifetime value of your customer.
[00:45] Think about charging a one-time that is more or equivalent to your LTV and see if that generates more revenue.
[01:05] People like the concept of a one-time fee.
[01:24] It’s a much more appealing marketing message.
[01:33] You have to be testing!
[02:37] If your average customer only lasts one year, it’s more beneficial to charge up front.
[02:56] Neil tested out up-front payment and a payment plan and found that up-front was the best system for his business.
[03:25] If you charge a one-time fee for a lot of stuff, this holds greater appeal.
[04:05] It’s all about the lifetime value of your customer: this is the best way to determine your pricing structure.
[04:43] If you’re doing a subscription thing, you can use a dashboard that will track your clients and payments.
[05:04] Price Intelligently is a great resource.
[05:18] If you want to try a monthly fee, consider sticking with an up-front fee, but test it out first.
[05:40] That’s all for today!
[05:44] If you could take two minutes out of your day, we are trying to improve the listening experience for you, so go to Singlegrain.com/survey and help us gain some insight into what matters to our listeners.

Leave some feedback:
What should we talk about next? Please let us know in the comments below.
Did you enjoy this episode? If so, please leave a short review.

Connect with us:
NeilPatel.com
Quick Sprout
Growth Everywhere
Single Grain
Twitter @neilpatel
Twitter @ericosiu





Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode #756, Eric and Neil discuss whether it is better to charge a monthly fee or a one-time fee. Tune in to hear which is more lucrative. TIME-STAMPED SHOW NOTES: <ul> <li>[00:27] Today’s Topic: Is It Better to Charge a Monthly Fee or a One-Time Fee
</li> <li>[00:40] If you have a monthly fee, look at the lifetime value of your customer.</li> <li>[00:45] Think about charging a one-time that is more or equivalent to your LTV and see if that generates more revenue.</li> <li>[01:05] People like the concept of a one-time fee.</li> <li>[01:24] It’s a much more appealing marketing message.</li> <li>[01:33] You have to be testing!</li> <li>[02:37] If your average customer only lasts one year, it’s more beneficial to charge up front.</li> <li>[02:56] Neil tested out up-front payment and a payment plan and found that up-front was the best system for his business.</li> <li>[03:25] If you charge a one-time fee for a lot of stuff, this holds greater appeal.</li> <li>[04:05] It’s all about the lifetime value of your customer: this is the best way to determine your pricing structure.</li> <li>[04:43] If you’re doing a subscription thing, you can use a dashboard that will track your clients and payments.</li> <li>[05:04] <a href="https://www.priceintelligently.com/">Price Intelligently</a> is a great resource.</li> <li>[05:18] If you want to try a monthly fee, consider sticking with an up-front fee, but test it out first.</li> <li>[05:40] That’s all for today!</li> <li>[05:44] If you could take two minutes out of your day, we are trying to improve the listening experience for you, so go to <a href="http://singlegrain.com/survey">Singlegrain.com/survey</a> and help us gain some insight into what matters to our listeners.</li> </ul> Leave some feedback: <ul> <li>What should we talk about next? Please let us know in the comments below.</li> <li>Did you enjoy this episode? If so, please leave a short review.</li> </ul> Connect with us: <ul> <li><a href="http://neilpatel.com/">NeilPatel.com</a></li> <li><a href="https://www.quicksprout.com/">Quick Sprout</a></li> <li><a href="http://growtheverywhere.com/">Growth Everywhere</a></li> <li><a href="http://www.singlegrain.com/">Single Grain</a></li> <li><a href="https://twitter.com/neilpatel">Twitter @neilpatel</a></li> <li><a href="https://twitter.com/ericosiu">Twitter @ericosiu</a></li> </ul> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

Neil Patel and Eric Siu bring you daily ACTIONABLE digital marketing lessons that they've learned through years of being in the trenches. Whether you have a new website or you're an established business, you'll learn the latest SEO, content marketing, social media, email marketing, conversion optimization and general online marketing strategies that work today from people that actually practice marketing and operate businesses.
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In episode #756, Eric and Neil discuss whether it is better to charge a monthly fee or a one-time fee. Tune in to hear which is more lucrative. TIME-STAMPED SHOW NOTES:  [00:27] Today’s Topic: Is It Better to Charge a Monthly Fee or a One-Time Fee...

Is It Better to Charge a Monthly Fee or a One-Time Fee | Ep. #756

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c3e5bf74-9ccb-4fb9-97fd-b0d2005dcdbc/transcript

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