5 Simple Steps to Adding a Subscription to Your Product-Based Business

Do you have a product-based business? Are you selling products via an Etsy store, in a pop-up shop or a retail store? Are you selling one-off products online? Adding a subscription box to your existing business is a no-brainer and can offer you so many benefits! Adding a subscription box provides: A stable, predictable revenue stream - recurring payments benefit your business in so many ways, including stabilizing your cash flow. Customer loyalty - subscribers have committed to regularly purchasing products from you. Increased lifetime value (LTV) - do you know the LTV of your customers? My subscribers stay for an average of 18 months, generating thousands of dollars of revenue each. Opportunities for cross-selling and upselling - pair your box items with additional one-off items from your shop. Scalability - packing and shipping 500 of the same thing is much more efficient than 500 different orders. Have I convinced you to add a subscription box to your business? I have 5 simple steps to follow to make it happen. Identify your best customers: Who are they? How often do they shop with you? Take a look at your top 20 customers and dial into who they are. Identify your best-sellers: What categories are your best sellers? What do people buy from you repeatedly? What are people asking for more of? Set your pricing structure: What is your average order value (AOV)? What is the AOV of your top 100 customers? Price your subscription box in that range. Create exclusivity and scarcity: What are the benefits of being a subscriber? Make items only available in the box. Make them only available by subscription. Create FOMO with your customer base - make them want to be part of something exclusive. Create a great user experience: Are your website and the checkout process clear and easy to follow? Make it easy for people to update or cancel their subscriptions. Provide a higher level of customer service - remember your subscribers are the VIPs of your business. A bonus piece of advice, which is really the best piece of advice, is to talk about your subscription box a LOT. If you want to create a business that is 75% recurring revenue instead of depending on one-off sales, you’ve got to make it the main thing in your business. And that means talking about it… a lot! Join me for this episode to learn how having a subscription box can change the game for your business. Predictable inventory, better cash flow, monthly recurring revenue, and more. Follow 5 simple steps to get started today! Join me in all the places: ⁠Facebook⁠ ⁠Instagram⁠ ⁠Launch Your Box with Sarah Website⁠ Are you ready for ⁠Launch Your Box⁠? Our complete training program walks you step by step through how to start, launch, and grow your subscription box business. ⁠Join ⁠today!