5 Tips to Help You Launch Your Own Subscription Business

| January 31, 2018

bscription box businessesSubscription box businesses are quickly becoming the hottest trend on the market right now. More businesses are marketing their products as monthly subscriptions in an attempt to garner long-term business and loyal customers. Subscription boxes are also popular due to the variety of products and the relatively low price for each item – customers are getting great deals with a subscription.

If you are thinking about starting your own subscription business and turning your existing products into items that the customers’ can subscribe to, there is no better time to start than right now. Before you get started, however, here are five tips that will help you launch your own subscription business successfully.

Make It Easy to Subscribe

One of the first things you need to do is improve your checkout process. Subscription customers are more sensitive to disruptions in their customer journey. This means you need to take extra care when designing the subscription process.

Make sure customers can subscribe to your subscription box in no more than two or three steps. Integrate direct debit collections into the checkout process too. Payment services such as AccessPay lets you process direct debit collections from customers automatically.

Once the checkout process is completed, the customer is subscribed. They don’t have to make manual payments every month thanks to the direct debit system. You also don’t have to worry about micro-managing the subscriptions and can instead focus on delivering subscription boxes on time.

Get Delivery Sorted Out

Speaking of delivering subscription boxes, make sure you use a reliable delivery or courier service. On-time delivery is a must, especially if you want to keep customers happy and subscribed for a long time. Test deliveries before choosing a particular service and give customers realistic estimates.

As mentioned earlier, disruptions in the customers’ journey must be avoided. Having one reliable delivery service is not enough. You also need to research another alternative – or several of them – as a backup. When the main delivery method fails, you can switch to the backup service without skipping a beat.

Add Value

To make the subscription box attractive, you need to add products as well as value. Successful subscription boxes don’t just offer a series of products for the customers. They add beautiful packaging, extra booklets filled with information, and other valuable ingredients.

This added value is what the customers really take into consideration when deciding whether to subscribe. The prices of individual products are easy to measure, but the extras you add to the subscription box aren’t.

Work with Other Businesses

Another great way to make your subscription service immensely attractive is by adding other products – products from other, non-competing businesses – to the mix. With more businesses looking to expand their market and exposure, it is easy to find partners in today’s market.

Focus first on complementary products. You want to add items that go well with your own products. If you’re selling high-quality T-shirts, for instance, you can add accessories, a pair of jeans, or other fashion pieces that can be mixed and matched easily with the T-shirts as your main item.

Complete the set by adding a fashion booklet – a look book that the customers can use as a reference – and you have a stunning subscription box that will attract a lot of customers. Keep the box fresh with every iteration and don’t forget to explore new partnership opportunities whenever possible.

Don’t Forget to Follow Up

Here’s one last touch that will turn your subscription box into a real winner: aftersales service. Get in touch with the customers (subscribers) and get their feedback. Ask about how they like the products and how they think the subscription box can be improved. More importantly, incorporate their ideas; this will really turn everyday customers into loyal subscribers.

As added touches, you can also add vouchers or coupon codes to the subscription box. The vouchers will persuade customers to purchase more items from your retail store, boosting individual sales in the process. Make the offers exclusive so that subscribers feel valued even more.

With these five tips in mind, you can get into the subscription business with ease. You know exactly how to launch your own subscription box and please the customers at every turn; all you need to do now is get started.

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