Quick quiz of the day (100 million points to the person who gets the answer right):
What kind of product gives you the highest ROI?
And the correct answer is…
In the story I’m about to tell you.
So I was just checking my PayPal account when I realized I had a charge for $17 on my credit card.
Upon further investigation I found out that it was for a recurring Clickbank product in the gaming niche that I had purchased back in 2011.
To date I had spent $323 on that one product because of its monthly recurring billing. I can’t even remember why I bought the product, let alone the contents of it. I assume it was a test purchase. All the same, it completely slipped my mind and I forgot to end the subscription.
So for the past two years I’ve been spending $17 every month on a product I forgot I owned.
Now as a customer that feels kinda crappy.
But for a marketer (and you can totally call me a douchebag for this) it feels awesome.
Imagine the affiliate that I purchased that product through. Must be good being him right? Wouldn’t you like to be making $17 every month from just one sale you made 2 years ago?
That’s the power of rebills.
So once I canceled that subscription, I decided to check if I had any other charges on my credit card that I’d overlooked.
Holy crap.
And what I didn’t notice until a little later is that it only shows 25 results on each page. So I when I clicked on the Next page…
45 rebills that I’d been paying for without even knowing it. WTF.
And here’s the most impressive part.
After looking through all my purchases, I realized I had bought the same product twice and was paying a fee of $97 per month for each. ZOMG WTF.
I bought the same product on two different dates…
It was Russell Brunson’s Dot Com Secrets X.
Now don’t get me wrong, it’s a great product and I definitely learnt a lot from it. But to have bought it twice without realizing. And paying its monthly subscription fee without realizing. Total facepalm moment.
So, two things to take away from this lesson:
1. Paypal Recurring Payments are Hard to Cancel
I found that out the hard way.
If you haven’t already checked out the video I posted above, it’s a full walkthrough of how to check if you are paying for any rebills, and how to cancel them.
Basically you login to your PayPal, go to My Account then My money. And click on “My preapproved payments” to see all the items you are paying for on a recurring basis. Then cancel the subscriptions you no longer want to use.
After going through the entire list one by one, I finally canceled 36 rebills!
2. People Forget What They Subscribe To
Yes, douchebag moment.
But it’s true, and you’re not doing anything wrong or illegal, so why not take advantage of this.
Think about gym memberships. I’m sure you know people (or are that person) who signed up for a one year membership of a gym, went a few times then stopped.
Yet they continue paying for that monthly membership. And they know they’re paying, and they know there’s value in their purchase. It’s just that they don’t choose to use it.
Does that make sense?
For many establishments like gyms, this is not just the way they survive, but the way they thrive.
Would you like to thrive online too?
Of course you would!
So back to our quiz of the day:
What kind of product gives you the highest ROI?
Whether you’re an affiliate or a vendor, the best products to promote and sell are REBILLS.
I am living proof that you can make residual passive income online from just ONE sale for YEARS.
That’s why the subscription model is so powerful.
You are giving value month after month and charging your members for it.
Now whether or not they choose to take advantage of the information and resources you’re providing is up to them.
