As an Etsy seller, you’re already a maker. You have a product or service that people want, and you know how to make it. But what if you could make even more money by turning your Etsy shop into a subscription box?
Not only would you be able to reach more people with your product, but you would also be able to generate additional revenue. A subscription box is a great way to do that.
There are a few things you need to keep in mind when you’re launching a subscription box, though. First, you need to make sure that your product is something people will actually want to subscribe to. Second, you need to make sure that your pricing is competitive. And third, you need to make sure that your boxes are well-designed and attractive.
If you can keep all of those things in mind, then you’re well on your way to launching a successful subscription box.
Understanding the Benefits of Adding a Subscription Box to your Business
Adding a subscription box to your business is a great way to increase customer loyalty and recurring revenue. By offering a recurring service, you can provide your customers with a convenient way to receive your products on a regular basis. This can be a great way to grow your business and build customer relationships.
There are many benefits of adding a subscription box to your business. First, it can help you to build a loyal customer base. Customers who subscribe to your box are likely to be more loyal to your brand and more likely to make repeat purchases. This can help you to grow your business and increase sales. Additionally, subscription boxes can help you to generate recurring revenue. This can be a great way to stabilize your business and ensure that you have a consistent income stream.
Additionally, subscription boxes can be a great marketing tool. They can help you to reach new customers and promote your brand. By including marketing materials in your boxes, you can reach a wider audience and increase brand awareness. Additionally, subscription boxes can help you to build buzz around your products and create a sense of excitement.
Overall, adding a subscription box to your business can be a great way to increase customer loyalty, build relationships, and generate revenue. If you are considering adding a subscription box to your business, be sure to consider the benefits carefully and choose a plan that is right for you.
Finding the Right Platform for your New Subscription Box
Etsy does not support subscriptions, but platforms like Cratejoy, do. Cratejoy is purpose built for subscription boxes and offers customizable templates, the ability to use HTML and CSS to style your site, and plenty of plugins to add features like social media integration and abandoned cart emails. As an added bonus, Cratejoy also has a consumer Marketplace to help you get early
Shopify is a popular ecommerce platform. To use subscritpions, you will need to use an app like Recharge to make your products renewing. Shopify is usually best for brands who are looking at subscribe and save options, as a custom subscribe flow is not readily avaialble withouth development assistance.
WooCommerce is a plugin for WordPress that turns your WordPress site into an ecommerce store. WooCommerce is free to use, but you will need to pay for hosting, a domain name, and a SSL certificate. WooCommerce also offers plugins or apps that can allow you to sell renewing products, but with less out of the box functionality than something like Cratejoy.
Deciding on Products for Your Subscription Box
When it comes to choosing products for your subscription box, it’s important to think about your target audience and what they would be interested in. If you sell handmade jewelry, for example, your subscribers might be interested in receiving new pieces each month, along with a few other complementary items. If you sell vintage items, on the other hand, your subscribers might appreciate receiving a curated selection of items each month that go well together.
If you’re not sure what type of products your target audience would be interested in, it might be helpful to survey them or ask them directly. This can give you some valuable insight into what they’re looking for and help you make the best choices for your subscription box.
Once you’ve decided on the types of products you want to include in your subscription box, the next step is to choose products that work well together and complement each other. This can be a great way to create a cohesive and appealing box each month. For example, if you sell handmade jewelry, you might want to include a mix of new pieces and some of your best-selling items. You might also want to include a few other complementary items, like a scarf or a piece of clothing that can be layered with the jewelry.
Finally, you’ll want to choose products that will be appealing to both new and existing customers. This can be a great way to keep your subscription box fresh and exciting each month. For example, if you have a lot of repeat customers, you might want to include a mix of new and popular items in each box. Or, if you’re trying to attract new customers, you might want to focus on items that are new to your shop or that you think would be of interest to them.
Setting Prices for Your Subscription Box
If you’re thinking about adding a subscription box to your Etsy shop lineup, you might be wondering how to set prices for your boxes. After all, you want to make sure you’re covering your costs and making a profit all while not pricing too high for your potential customers.
Here are a few things to keep in mind when setting prices for your subscription boxes:
1. Your costs. Naturally, you’ll want to make sure your subscription boxes are priced in a way that covers your costs. Take into account the cost of materials, shipping, and any other associated costs. If you are making the products, keep track of the raw costs and labor that goes into production.
2. The value of your box. It’s important to remember that people are paying for the value of your box, not just the cost of the materials. Make sure you’re taking into account the time and effort you put into curating the perfect selection of items for each box. As a Maker, there is a good chance that you have unique items that are not readily available elsewhere and you should use this to your advantage!
3. The competition. Have a look at what other subscription boxes in your niche are charging. This will give you a good idea of what people are willing to pay for a similar product.
4. Your target market. Who is your target market? If you’re targeting budget-conscious shoppers, you’ll need to make sure your prices are competitive. However, if your target market is willing to pay more for a premium experience, you can adjust your prices accordingly.
5. Discounts and promotions. If you offer discounts or promotions, make sure you factor this into your pricing. For example, if you offer a 10% discount for annual subscriptions, make sure you’re still making a profit after the discount is applied.
Marketing Your Subscription Box
There are a few things to keep in mind when marketing your subscription box:
1. Make sure your target market is aware of your box.
This may seem obvious, but if you’re already selling on Etsy, reach out to your previous customers to let them know about your new product and where to find it — whether that is on another Marketplace setup for Subscription Boxes, like Cratejoy, or on your own website.
It’s important to make sure your potential customers are actually aware that you offer a subscription box. If they’re not, they’re not going to sign up!
There are a few additional ways to spread the word:
-Add a banner or graphic to your Etsy shop homepage that promotes your subscription box.
-Mention your box in social media posts, blog articles, and any other marketing materials you create.
-Include information about your box on product listing pages. For example, if you sell jewelry and offer a monthly jewelry subscription box, you could mention it in the product descriptions of your individual jewelry listings.
2. Create enticing marketing copy.
Once you’ve made sure your target market is aware of your subscription box, you need to make sure they’re actually interested in signing up. This is where great marketing copy comes in!
Your marketing copy should be clear, concise, and persuasive. It should explain what customers will get by subscribing, and why they should choose your box over others.
3. Offer a discount for subscribers.
One of the best ways to encourage people to sign up for your subscription box is to offer a discount. This could be a percentage off their first box, or a free gift with purchase.
Conclusion
Adding a subscription box offering to your overall business is an easy way to leverage the brand you’ve built on Etsy. Using your existing marketing channels, you can easily setup your new subscription box on a subscription box friendly platform or marketplace and grow!
As your subscription box grows, you’ll be able to further expand your brand and the products you offer. This may even mean expanding your brand on your own website where you can control the entire customer experience.
