How to Set-Up a Subscription Box Business
Subscription boxes are one of the newer and greatest ways to shop online today, and the eCommerce market is booming with this innovative idea. It gives eCommerce an outlet to promote new brands and products that aren’t normally found in your general retailer, and customers love them!
Subscription boxes give each person a unique and memorable experience each time they go to check the mail. On the business side, subscription boxes create a stable income rooted in a monthly residual that can be built for almost any category. Here’s a step-by-step guide to getting your company set up with them!
Have an Original and Specific Idea
Every company starts with an idea. When it comes to subscription boxes, it’s no different. When people sign up for their subscription, they have a particular want in mind. Whether it’s beauty supplies, pet items, clothing, or something else entirely, your clientele will subscribe for that one genre of item. Try to fit your idea into a small and specialized field in order to appeal toward a specific demographic.
Research Your Customer
Who are you going to promote to? You probably have a type of person in mind already, but sometimes the market can surprise you! Try to find resources that document the trends for your niche and research them thoroughly. Create a customer profile so you can address them and their needs. Consider looking at companies that have a similar client base as you and review their marketing strategy to see what you may be able to do better. Market research is one of the most important aspects of your subscription box eCommerce businesses.
Create a Prototype
A prototype is simply a rough draft of your idea brought to life. This box that you have created will be your guide toward a finished product and how your overall customer experience will be. There are few things to consider when you are creating your prototype:
- How big is your box and how much does it weigh on average? This is important because it will determine cost and logistics of shipping.
- How many items will be in the box each month and what categories are you going to include?
- What kind of packing material is best to keep your box safe and intact?
- Does the box give a good presentation to your client? Does it satisfy their wants and give them the desire to continue their subscription?
- What sort of personal touch are you going to add to each box? What will you do to separate yourself?
- What will be your overall price?
These questions will help you objectively evaluate your product. When you observe it objectively, you will notice different ways you can improve and grow! The good news? You don't have to reinvent the wheel. There are companies like Arka around dedicated to custom making your subscription boxes so you don't ever have to think twice about packaging and presentation.
After you know your product and understand your market, then it’s time to set up the pre-sale! A pre-sale is a way to get buzz for your subscription boxes and fund your company at the same time. Offer a discount for those who register before the launch to entice your eCommerce clientele to buy early. This will bring in revenue to help create your product and get it ready to be shipped. Use avenues such as social media to promote your campaign with a link to your site where people can order. Another good idea is to put a launch countdown clock on your site that links to th order form as well.
Time to Ship!
With all your pre-sale revenue, you’ve been acquiring materials, creating inserts, and finalizing what your box is going to be. Then the moment that everyone has been waiting for arrives: the direct shipment to the client. At this point, you should be notifying all your pre-subscribers about the date they will receive their box. Make sure to have the tracking information ready for each individual subscriber, and a “thank you” letter for each of them. Consider adding a future promotion as well.
It's crucial to have a reliable and professional shipping solution. eShipper will work with you to find the best option for your eCommerce business. If you are starting your subscription box sales now, contact us today and see how we can bring you to the next level!