Thoughts on subscription models, tripwires and upselling.

https://www.youtube.com/watch?v=i5AirDMxfeE

Transcription

Taco Bell's, Taco Lover's Pass.

Hi I'm Brian Pombo, welcome back to Brian J. Pombo Live.

I can't believe it. This is a really interesting concept, especially when it comes to business.

So this is a show where we talk to people who are business owners when people want to be business owners or people that are at least executives within their business.

You're the movers and shakers, the ones that really make it work from top to bottom.

And I wanted to talk about this concept of the Taco Bell that the taco pass created by Taco Bell.

Look at this, look at this article that I came across this was this particular one was in USA Today. There were a lot of people that talked about it but it basically says you pay $10. And you get, I believe, 30 days of tacos.

So you get a taco a day. But you can go every single day into Taco Bell and get a taco for $10. And I think it limits it to one a day from my understanding. But this is an interesting, really interesting concept, I want you to see it first from the consumer end, and then look at it from business owners' end.

So from a consumer end, there are a lot of people that I know at one time, at one time in my past, I was eating from Taco Bell on a regular basis.

I would have gladly paid $10 once to have a taco every single day.

No problem whatsoever.

And it's a done deal for people who are hardcore Taco Bell people.

How do you go wrong and how does Taco Bell go all this time or any restaurant that you know of without offering subscriptions?

Subscriptions work in just about every single place you could think of I have not found a business yet that you cannot somehow tie a subscription to if you can't, that business has other issues that needs to be that need to be fixed.

But there's no reason why you should not be able to have a service or a product that can be offered by subscription. Any fast food joint can easily offer a similar deal.

And why not?

Why not make it renewable to where every month that automatically charges you another $10 and tries to bring you back into Taco Bell more often than they would have otherwise.

How many people are going to pass up Taco Bell when they have a subscription?

You could take Amazon Prime, you could take anything, and there's so much magic to the concept of a subscription.

It's unbelievable that most businesses don't take advantage of it.

Go check out this book, the automatic customer.

I've talked about many times, I don't have a physical copy in front of me. So I put up this picture.

This book is incredible.

It's the best book I've ever read on subscription model, whether you're talking about a membership, whether you're talking about what would be considered a traditional subscription.

Everything that came from magazines and everything else, all the way down to when you're talking about Netflix, whether you're talking about Amazon Prime, whether you're talking about all the other things that you pay for on a monthly basis, I know it's driving a lot of people nuts, because like I'm paying for everything on a monthly basis.

It's true.