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What are the best expiration rules to set in place for a (deposit based) white label program? Should there be an expiration of funds if not used?

White Label Pricing (20% discount) is granted to customers that deposit $1000 or more in our system.

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Rui Delgado

Entrepreneurship / Online Marketing / E-Commerce

In my experience, what I've seen is that you should clarify right from the beginning that they should use it within a year (365 days).

Also, you should work on to your strategy to bring clients back to the platform. What you want is to people to spend that money as soon as possible so they would spend more and more.

Remember, a great e-commerce platform gets 50% of their revenue from returning customers.

Answered over 8 years ago

Michael Von

Business & Marketing Success Consultant & Coach

If you decide to have a expiration rule, you should actually refund the money. You want to encourage business and not discourage business. So, if usage is down, you have to find out why this is. You may be able to help the customer with their marketing efforts in order to sell even more of your products.

Always specialize and find a niche. But do not find a ditch instead of a niche. Let me explain.

You can actually find several or even 100's of niches and specialize in each. Note that this very different from trying to appeal to everybody with the same product. However, nobody on here will be able to tell you the gaps in the software development market. But, I can tell you how to find the answer to your question. You can do this through testing, pre-launching, and launching. Your potential customers will give you the answers if you follow the techniques below.

Test, test, test. You should run several split tests using different videos within the campaign and drive customers to take some concrete, measurable actions. This action can be signing up for a newsletter, buying a product, signing up for a White Paper, signing up for a free bonus, etc. But you have to key each of these along with the video to make sure that the actual video is driving the actual action.
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Okay, to pre-launch campaigns for SaaS platforms, a startup, or any product or service. Simply, come up with a taste of what you have, ask a serious question and answer it. At the end of the end of the first "answer and solution" set the potential client up with another problem that is very familiar to them. Convince them that you have the answer. Follow this technique several times. Most do this repetition 2 or 3 times, but a famous golfer has sent me literally dozens of how to videos in order for me to take the bait.
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I also always suggest that everybody at every stage work with a coach, mentor, or consultant. Heck, it works for Tiger Woods, every team in the NFL, the NBA, and etc. We all need guidance and support.
Best of luck,
Take massive action and never give up.
Michael
Michael Irvin, MBA, RN
www.michaelvonirvin.com
PS – Many people have “Upvoted” my answers. Thanks to those who do this. I really appreciated.
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Answered over 8 years ago

Humberto Valle

Get Advice On Growing Your Real Estate Business

yes. just for accounting reasons, imaging carrying a debit on your ledger for years? you need to close that out otherwise you will add to your liability and what if you close? You can't count on that money, which means you can't use it to fund growth or whatever else is needed. Expire the funds after 1 year or so.

Answered about 8 years ago