How can I attract more clients for my subscription business model?
My name is Alexey, I have a start-up for staff searching online – www.beforehand.ru - this is the Russian equivalent of Glassdoor in America. Do you know Glassdoor.com? I think you do.
So I launched a similar project in Russia a year ago. Unfortunately, I have a problem with customers: they are not companies and when they hear about the project, they say that they like the project but only one paid for a subscription. For this year, I signed only one contract. All the rest as it comes to money - in the bushes. By the way, Booking.com had the same experience during the first year of its development :(
Recently, I changed the business model from selling package services to selling only company content promotion on the platform (CPC advertising model).
Since November 2018, when I changed the business model, I've connected more than 140 companies from different business areas to the platform. But none of these companies pay money for promotion.
Now I have a choice: to close the project (a lot of money is required for refinement and maintenance) or to continue implementation – then how? How to make companies pay money?
The main client's concern is “You are a startup, come when you develop”.
I am writing to you in the hope of getting advice or questions that will help you help me.
As a startup, it is not easy to convince clients and investors to invest their money in your business as they all want to see proof. But the fact that you have already connected with over 150 businesses is a great achievement, even though they haven't paid for your services yet.
Hence, there are many ways to get them to pay you...
Some tips that work best are:
Give Free offers – People love free items, and when you offer your product or services for free, they'd be more likely to jump in.
Offer Discount Deals – Much like free offers, discount deals also attract potential customers and recurring customer to your business. For example, if you offer a 65% or 75% discount, it is more likely that people would want to patronize your business and pay for what you're offering.
Contest – Organizing contest is also a remarkable way to attract paying clients. A contest offer contestants the opportunity to win prizes by participating in the contest. So clients are aware that they can go home with some prize if they take part in it.
Other strategies that work well are:
Get listed on "business directories," make good use of social media–ask your friends, family members, and colleagues for referrals.
Also, use paid advertising. These will enable you to attract paying clients.