Let’s say your average subscription price is $39.99 and you’re working with a 30% net profit margin. With 1000 subscribers, that’s $11,997 in profit, each month.
Back of the napkin math? Sure. But it sets an impressive goal: with just $10 net profit per subscription/month, you only need 1000 subscribers to hit over $10,000 in profit.
In this short video, Jesse from Subscription School goes over 5 strategies to help you hit your 1000 subscriber mark, from launch to beyond!
Marketing 101 for Subscription Boxes – Transcript
Ask yourself, what’s the most important part of your business? What one thing drives the success of the month?
The answer? The number of customers. And I don’t just mean a few dozen. We’re talkin’ hundreds, even thousands.
But how do we get there? Let’s find out.
Customer Acquisition: it drives the growth of your company. It sets the tone of your procurement power, fulfillment needs, and of course, you and your employees’ income.
So ask yourself, are you stuck with just a few hundred customers? If you are, there might be some simple, cost-effective strategies you’re missing out on, and it’s probably costing you. But let’s start at the beginning: your launch.
Nothing like an epic entrance. And the same goes for your subscription service. When you start with a powerful prelaunch, you can get 100s of early customers and you don’t have to spend a lot of money. Build out your social channels, interact with reviewers and bloggers, and regularly email your pre-subscribers. There’s not much more to it than that!
Now you’ve got a few subscribers, but we’re not quite to 1000 yet. Which brings us to our next item on our list: following up with monthly promotions. The truth is, you can acquire a lot of customers by following up with canceled subscribers, sending out intriguing offers to new members. and always making sure your lists know what’s next in your monthly surprise.
Oh, sorry. Are we rolling? I was just telling my friend about this awesome sandwich spot.
Okay, so my example might be a little bit cheesy, but you get the idea: customer referrals.
Another great way to grow your business is encourage your subscribers to share. The best part is Cratejoy’s got it built right in.
What else can we do? How else can we get customers?
Please please one at a time people. Another great way of getting to 1000 customers is using the commodity of the internet: CONTENT.
Content, in the form of blog posts, videos, and memes, can propagate throughout your channels and create a snowball effect when it comes to customer acquisition. Craft meaningful content that resonates with your community and you will be rewarded! Don’t believe me, just take the sound guy’s word for it.
Another great way to grow your business with a strategic partnership, like a publication or a deal site. In the latter case, companies like Living Social or Groupon can provide a powerful platform to get your product in front of the eyes of hundreds of new customers. And while you may be dealing with marketing expenses or deep margin splits, sometimes that’s all you need to get your product past the 1000 customer mark.
Well, there you have it. You know how to get to 1000 customers. So take some time to reflect on your customer acquisition strategies, and with a little push in the right direction, you might be closer to your goal than you actually think.
