Here at Cratejoy, we celebrate the success of our sellers just as much as they do. We’re not only building a platform to let sellers start their subscription business, we are also looking to help them find success on our platform.
We Want to Find You Subscribers
We recently sat down with some store owners on Cratejoy who have amassed a large number of subscribers since their launch: and we wanted to find out how they did it.
Have you recently started a subscription business or looking to start one soon? Here are some things other companies have done that you could also try:
Subscription Business #1: A Giveaway Partnership
This store ran a giveaway on a popular blog in the same niche. This is a no-brainer and guaranteed way to get in front of a highly targeted audience. They were able to rack up more than 300 subscribers within the first 2 days of the article going live. Depending on what you are comfortable giving away, you could either have the blogger simply do a review, or you could go for a contest where the winner gets something from you.
In the case of this particular store, they simply offered a 25% discount code to anyone who subscribed to them. By the end of the first full week, they were well past the 500 subscriber mark.
Subscription Business #2: Free Gift Promotion
The second store offered a gift to everyone who subscribed. This may not apply to everyone, and certainly not everyone is able to do this, but it’s a surefire way to pull in subscribers. The key to success here however is to make sure your monthly boxes are awesome – there’s no point spending the money on free stuff to bring them in if it’s going to be easy for them to churn.
The strategy behind the gifting is this: when you spend x amount of dollars on gifts for user acquisition, you will be able to recoup your cost by your 2nd month or worst case scenario, your 3rd month depending on your profit margins. Again, you’ll only make a profit if you are able to keep hold of your subscribers. You do this by making sure your offerings are rock-solid, attractive, and satisfying, and that you have great customer service.
Subscription Business #3: In-App Advertising
The last store ran in-app advertising. In this case, the company found a popular app in their niche and placed ads at the bottom of the screen of those apps. For example, if your business sends new moms & expecting moms monthly baby-safe products, you could find a site or an app targeting pregnant women and new moms. You can take this a step further by adding the referral program to your store where you ask your potential/new subscribers to invite friends for a chance to win a free month’s box.
Plan to test out any of these tactics? Be sure to let us know how it goes. And as usual, if you have any questions, don’t hesitate to ask below!