You or someone you know has most likely purchased a subscription box at some point. Maybe it was a one-time trial, or maybe it was a subscription that lasted for years. It’s no secret that subscription box services are rising in popularity!
You may be considering getting into this avenue of business. However, starting a business is easier said than done, so here are four tips for starting a subscription box business to help you succeed. Whether you offer cosmetics or books, subscription boxes are a fun way to build a niche of people who enjoy your product.
1. Start With an Idea
An excellent tip for starting a subscription box business is to determine your niche, competitors, and customers. As for your niche, it’s necessary to think of what kind of market you’re interested in—cosmetics, fitness, food and beverage, or reading, to name a few. From there, you can find more specific categories and curate products for a particular audience.
When researching your competitors, think of how much work they put into their businesses. Consider what the competitor business offers, how many boxes they sell, and how to differentiate from theirs. Lastly, consider the customers you’re targeting. Think of the demographic you want to focus on and their age, gender, lifestyle, income, and social platforms. You want your product to focus on their needs so you can provide a product that fits their lives.
2. Create a Prototype Box
After figuring out pricing and box tiers your customers can choose from, the next step is creating a prototype box. The prototype box helps introduce potential subscribers to the products you plan on offering every month. It helps build buzz on your social media sites, landing sites, and website.
Choose between five to seven products for your first box. Then, select the packaging and packing materials. Take plenty of pictures to post on social media!
3. Launch Your Site and Social Media
Launching your website and social media can feel daunting. Luckily, there are plenty of user-friendly eCommerce platforms that don’t require coding experience. You can design your website to fit your business’s theme and overall message. Your website should also keep your POS system safe from hackers, so make sure to research platforms and know what to do in case of security breaches.
Once you’ve made your website, launching your social media is even easier. Social media is an excellent way to connect directly with your audience while showing behind-the-scenes action to help them get an idea of what your company is. You can post pictures, offer specials and deals, and inform customers of any issues.
4. Grow Your Audience
Growing your audience takes some elbow grease, but it isn’t complicated. Reward your subscribers with deals or referral codes for a free box in the future. This will make your current subscribers feel appreciated so they will spread the word about your company to other potential customers. It will keep their attention and allow them to use word-of-mouth to promote your business.
For other business tips (for boxes or otherwise), head to our Business page!