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13:51 BST, August 11, 2020Are you itching to start a profitable new business venture online? There are many ways in which to make your mark and stand out among competitors, but one specific approach to conducting business has plenty of tails wagging at the moment — creating a subscription box brand!
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Find out how it works and why it makes sense from a business perspective.
What is a subscription box brand?
A subscription box brand refers to a brand that offers its customers a box full of specific products delivered to their door on a weekly, bi-monthly, or monthly basis. This subscription box usually promises a worthwhile bulk discount on the products that it contains, which can act as an incentive for customers to sign up to receive them on a recurring basis.
Ultimately, the reason this approach to doing business is so clever is because it promises a steady, more predictable profit. You don’t have to worry too much about how many sales you will be making from month to month as you will already have a certain number of customers who have already signed up to receive your products. It is also great because your existing customers are unlikely to explore your competitors’ offering: they are, after all, signed up with your brand and enjoying significant savings as a result.
How to get started
Firstly, you will need to think up a creative subscription box idea. For maximum success, it is wise to include products that consumers use regularly and that are a part of their daily lifestyles. The more frequently they use the items, the faster they will need those items to be replenished, and the more likely you are to keep them on board as subscribers.
A wonderful example of a successful subscription box brand is zamplebox.com which provides vape juice carefully selected based on each subscriber’s preferences. The box subscription varies in terms of size to ensure that there is an option for every budget and for every type of vaper. The concept works because consumers get a significant discount compared to what they would pay separately for each bottle of vape juice, and because it encourages enthusiastic vapers to try a host of exciting new flavors.
Once you have a great idea and you’ve organized your suppliers, you can begin creating your e-commerce store and marketing your subscription box online. Be sure to invest in social media advertising based on the platform to which your target audience gravitates. Another way to quickly build up a list of subscribers is to offer existing subscribers a discount when they recommend your box to other people who then act and sign up too.
Get creative with your marketing tactics and don’t forget to go that extra mile to keep your subscribers interested and fulfilled. That could mean sending a free gift through with their box or allowing them the chance to swap out items in their box every few months for fresh, new offerings.
Good luck!
Interesting related article: “What is Brand Management?”