Why Lifetime Deals are a Good Bet for Tech Founders

As tech founders, we know that developing and growing a product takes time and effort, especially when it comes to marketing. That's why a lifetime deal can be a smart move to increase your revenue and get paying customers faster. Here are some reasons why: 1. Marketing support from others: Partnering with a lifetime deal platform means that they will market your product to their audience, doing all the work that you would otherwise have to do yourself (e.g. creating content, organizing webinars, pitching your product, paying affiliates, etc.) and taking a cut of the revenue in return. 2. Feedback from paying customers: Receiving feedback from customers who have paid for your product is different than receiving feedback from those who are using it for free. Paid customers expect value for their money, and their feedback can be incredibly valuable in the early stages of your product's development. 3. No product abuse: You might be worried about supporting lifetime deal users for life, but the truth is that they don't actually use your product all that much. Many of these customers simply want to support what you're building and don't use your product as much as you might think. 4. Big FOMO effect: Lifetime deal users buy because they think they will use your product in the future and don't want to miss out on the opportunity. In fact, some of these customers are collectors and have 100 or more lifetime deals! If you're interested in running a lifetime deal campaign for your product, here are some steps to consider: 1. Set up your onboarding flow, email sequences, and processes. You can expect a sudden influx of new users, so make sure you have a sales funnel in place to get them from registration to successful purchases. 2. Create a public roadmap and gather feedback from users. This is a great opportunity to get feedback and show users what you're working on and what features they can expect in the future. 3. Educate your users by preparing learning materials and guidelines. This will make it easier for users to understand your product and save you time on support. 4. Engage with users regularly during the campaign, talk to them frequently, keep them in the loop, and share what's new. 5. Organize webinars and share advice and tips with users. This can be a great way to generate sales spikes and interest in your product. 6. Build a community of lifetime deal users. They bought your deal because they believe in what you're building and want to support you. Create a Facebook group, Slack, or Discord channel to connect with them. 7. After the campaign, launch a referral program and reach out to affiliates to join. Use the resources you gained from the lifetime deal to focus on MRR, increase your product's value, and find new customers. Keep in mind that lifetime deals are not for everyone, and you should carefully consider whether they're a good fit for your business. You can start by running a small LTD campaign on your own to test the waters and see how users respond. And don't worry about losing customers who would otherwise convert to a monthly plan. Lifetime deal customers are a unique niche audience who may not have bought your product for a monthly fee anyway. That's why I think lifetime deals are a great idea, especially for tech founders, and, completely out of coincidence, we are running our own LTD at Enwrite, which you can find out at https://www.enwrite.co/lifetime