The Benefits of $1 Trial Offers
A survey by Vantiv and Socratic Technologies found that 92% of millennials have active subscriptions online, which means that $1 trial offers are still very feasible ways to ramp up your revenue. Plus, millennials are all about investing in experiences rather than things, and a recurring payment subscription model with discounts offers customers an affordable alternative to buying the same product online every month.
Having the $1 trial option alone is a great way to get more consumers interested on your product as it is more likely to push potential customers to click the buy button. In fact, having a $1 trial can draw in more customers than a free trial due; once a customer invests money—even as little as $1—the chances that they will stick around beyond the initial trial increase.
A $1 trial offer is also a clever way to market products. It eases people into the financial investment with a deep discount and allows them to try a new product or service they may be interested in but may not have otherwise tried. This often results in increased customer loyalty over time, boosting recurring revenue. Recurring revenue is predictable revenue—an enticing benefit for merchants.