- Fazier Growth Hacks
- Posts
- Buyouts
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Growth Hack: Win Over the Competition's Customers with Contract Buyouts
Want to escalate user acquisition beyond the usual tactics? Here’s an aggressive yet effective strategy: buy out your competitors' long-term contracts. This method isn’t just for big players like Zoom or telecom giants; it can work for you, too. Zoom did it aggressively in the early days.
How it works:
Identify locked-in users: Target users who are tied down by your competitors' long-term contracts but are seeking better solutions.
Make them an offer: Offer discount proportional to the cost of their remaining contract when they switch to your service. It’s a win-win: they get to upgrade to your better-fitting product, and you gain a new customer.
Simplify the process: Initially, set up a simple application process via email and provide a promo code to apply the contract buyout discount.
Commitment matters: Ensure the new plan they subscribe to with your service extends beyond their current contract. This guarantees you their business for a longer period.
Get the word out: Promote this offer on your marketing channels - from landing pages to social media. Consider reaching out directly to those who have left negative reviews for your competitors on G2 or Capterra etc.
Why it's effective:
Eliminates barriers: It removes the financial penalty for users wanting to switch to your service.
Boosts sales: Attract customers who are already using similar services and are likely to value what you offer.
Builds loyalty: Customers who switch will likely appreciate your upfront investment in their satisfaction.
This hack is ideal when you have the financial runway and if the lifetime value of a new customer justifies the initial cost of buying out their contract. Implement it, and watch as customers leap over the fence to your side.
I was trying to remember some examples. I think Cal.com - Calendly alternative used this growth strategy in early days.
Tools
GummySearch is an AI-powered research tool for Reddit. Discover problems to solve, sentiment on current solutions, and people who want to buy your product. Show some love. They are the 1st to advertise on Fazier - my dream project.
Screen Studio - Make every screen recording shine with Screen Studio. Loved by indie makers for creating auto-zoom promotional videos for X, product demos etc.
Everyone & their mother is building SaaS starter kit nowadays. Two of them launched on Fazier in the last 2 weeks. NextStarterAI integrates with Tailwind CSS, Supabase, Stripe, Lemon Squeezy, and more for building web applications. WrapFast is an iOS SwiftUI Boilerplate to create GPT Wrappers or any iOS App.
Fazier Launches
Supercal is a great take on Calendly. It maximizes your deep work hours by showcasing preferred time slots. So you can batch meetings one after the other and save the rest of your work time for deep work.
LinkTrail is a chrome extension that allows you to track your website activity, and see where you spend your time online. Great tool if your time slips away.
Interested in buying expired domains? Past Hunt is your friend that scraps Product Hunt and features 10 domain names on daily basis (mostly .com).
You can be the next here. All you need is to launch on Fazier. 100% free. No queue etc.
I am thinking of separating Fazier launches newsletter and start sending it separately. Should I do so or run them as one? Reply please.
Signing off,
Falak Sher