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Randy Cassingham's BlogHistorical Details and Author's Notes from This is True®
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Lifetime Subscriptions?
My mail isn't all whining like last week's post -- far from it. I publish more of the whines because they're so ...well... entertaining! But Paul in Texas really liked last week's issue. He wrote:
Free Weird Newsletter
"Damned fine issue Randy. I found it covered many topics and interests -- more than others have. Worth the subscription for this issue alone. I LOVE Jumbo Jokes -- even if they are aimed at me because if you cannot laugh at yourself there is something wrong with ya'. Thanks for sharing your time and effort with me and bringing a smile to my face at least once a week (sometimes all week as I remember the issue). PS: What is the cost of a lifetime subscription???"
Well, Paul, the cost of a lifetime subscription is: failure. A lot of publications have offered really long-term (sometimes lifetime) subs to get some cash in -- and that mortgages their future. When the money runs out, and it usually does because they don't buy an annuity with the cash they got, they find they don't have the cash flow to stay in business, even though they have a good publication with a good circulation.
I don't want to fall into that trap, so I've always resisted those really-long-term subscriptions.
Rather than asking for lifetime subscriptions, I just ask that you renew when the normal time comes, and keep telling your friends so maybe they'll replace those who can't (or don't want to) renew. That keeps the cash flow even, and keeps me in business. True is coming up on 15 years old, and I'd like to run for 15 more. So stick with me, and I'll stick with you.
(See info on Premium upgrades.)
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Posted by Bryan in Idaho on February 9, 2009:
Because his post script immediately followed his reference to laughing during the week as he remembered something from reading the issue earlier in the week, I figured he was referring to the fact that he will be able to take some of those stories with him throughout his life. And how much value is there in that?
Thanks for all you do!
Posted by Daniel, Oswego NY on February 10, 2009:
Lifetime subscriptions at $100,000??? According to my back-of-the-envelope calculations, assuming a 50 yr lifespan (about the average to be expected, since most subscribers are somewhere near the middle of their total lifespans), that comes out to an inflation rate of about 16,000 percent. Do you know something about the "stimulus" bill currently winding through congress that the rest of us don't?
;-)
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I've learned a lot out of Washington lately. Talk "trillion" and suddenly $800 billion seems like a good deal. Bandit in New Mexico suggested a $10 million price tag for a lifetime subscription, so I countered with a significant discount -- just $100,000! When can I expect your cashier's check in the mail? -rc
Posted by L in Georgia on February 8, 2010:
I would like to offer the topic of lifetime software upgrades.
I find much understanding in your article. But respectfully, what I have discovered is that the companies that offer valuable software are able to sustain themselves. Sometimes, they come up with new product lines or inventive marketing, but word of mouth spreads in a community such as this. I have also discovered that new companies may offer such a bargain, but later revert back to a shorter upgrade policy lasting a year or two once they become larger and more popular. But with the exception of one, they still honor their previous agreements and this makes for a great company.
Take for instance, Slysoft, Alcohol 120%,and DVDfab. Three companies that once offered their lifetime upgrade policy as default but now has changed to two year upgrades. They still honor their old customers agreements of lifetime upgrades and they still offer lifetime upgrades. Only the customer must purchase the extra option (well worth it) and a great marketing strategy.
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I'm not saying it's impossible to make it work, I'm saying that I've seen many, many companies fail not despite such a strategy, but because of the strategy. Based on my experience, it would be foolish for me to follow suit. And I don't think I'm foolish! -rc