"When you have a big initiation fee and the larger discrepancy between the initiation fee and then the subsequent billings, the stickier the billings become." Alex (@AlexHormozi) discusses the benefits of using an initiation fee and how it can make subsequent billings stickier. He also talks about different ways of using discount offers and how to monetize them ethically.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(1:52) - Benefits of initiation fee: stickier billings, cool discounts
(2:55) - Initiation fee allows cool discount offers
(5:52) - One-time fee explained: one-on-one help, 80% savings
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