Do Lifetime Deals Validate Your Product?
As a startup, the quest for idea validation can be a long and treacherous journey. I wrote an article to explore the pros and cons of using lifetime deals as a means of idea validation for startup products.
You are welcome to share your thoughts and reservations.
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Lifetime deals can be a great way to validate a product, but it's important to keep in mind that they should not be the sole validation method.
Offering a lifetime deal can be a good way to generate buzz and interest in your product, and it can be a good way to get early adopters and feedback. It also provides an opportunity to generate revenue upfront and increase your user base.
However, it's important to ensure that the lifetime deal is structured in a way that does not devalue your product in the long term. You should carefully consider the pricing and the features you offer as part of the lifetime deal, and ensure that you are still able to generate sustainable revenue from your product over time.
I agree with your pros and cons regarding working on a startup. In my opinion, we should follow the LTD (lifetime deal) model in the beginning to attract initial customers. This is because the trend has changed and people are now hesitant to invest in monthly subscriptions unless the product is exceptional. However, most companies are still willing to buy monthly memberships, but individual customers tend to dislike them now.
We have analyzed a lot of products B2B and B2C because we are working on Churnfree, a customer churn retention tool. Our product helps businesses retain their customers through customer retention flows. Currently, many companies are losing a lot of customers.
In my opinion, if your product is B2C only, it would be wise to have an LTD plan with limited resources.
I don't think LTD is a sustainable strategy, considering you have to provide lifetime support.
That's true. Obviously, not all products are suitable for LTD.
Those that require customer support and maintenance should be carefully considered before offering an LTD just to avoid burning out.
Nice article! I wonder how would LTD price be determined?
It really depends on your product, however, but in my experience with platforms such as Appsumo, setting the LTD price at 3-4 times the monthly subscription can lead to optimal sales.
Do you still have to promote your offer in appSumo in orders to get sales?
3-4x monthly price is too low I think?
Are you running LTD deals on Appsumo? Would like to see how it goes if you don't mind.
It is, but Appsumo aims to maximize sales, that's why they always suggest lower prices for eyeballs.
I am no longer running any LTD on Appsumo, but recently I switched TinySnap to lifetime license since it requires minimal maintenance and has no recurring bills.
I haven't heard of Lifetime deals used for validation, more so for early revenue generation. Lifetime deals are for bargain hunters, on platforms such as AppSumo. You can get some interest, but I don't see how selling at a very below-market rate is great for showing "validation". If you want validation, you must see sales at an economically sustainable cost. Then you'll know that you can support your customers, and your business.
This comment was deleted a month ago.