Subscription boxes are very popular with many including myself becoming subscribes of different boxes. Having the perfect little monthly or bimonthly gift to yourself to gush on your favorite activity, fandom, hobbie or to take care of a basic need without it having to occupy precious space on your to do list such as dress socks is why many consumers love the model. The companies producing these boxes have a steady flow of customers every month in which they can focus on things like acquisition of new customers and pleasing their current subscribers.
However many subscription box companies are leaving thousands…and in some cases millions of dollars on the table by not employing a very simple strategy.
Email Marketing to their paid subscriber list.
Subscription box companies are always on the hunt for more subscribers. It’s the nature of the beast because just because they a business model that has a more stable revenue flow doesn’t mean that your current subscribers will stay subscribers forever. The average for most subscription boxes to keep a subscriber is 3 months which means that most companies using this model have to keep bringing in a certain amount of new subscribers every month to make up for the ones they lose.
More time and money has to be spent on marketing to attract and then sell potential subscribers on the product. It would make sense to offer current subscribers more offers on other products while they are still subscribers.
A carefully created yet simple email marketing campaign sent to current paid subscribers could boost monthly revenue for a subscription box business easily. Most companies don’t do this and therefore miss out on the extra revenue that they could have made from their very own buyers lists.
For example: Comic Bento a comic book subscription box service where I am a currently subscriber.
Every month they send me a box of comic books based on a theme that they choose. I pay them their fee and they send me my mystery box where I get to discover what’s inside.
It’s a very simple model and I have been a subscriber for over a year and the only emails I get from them as a paid subscriber has to do with my order. Think of all the potential sales they could have gotten out of me had they tried to sell me something else?
In the comic book/nerd/pop culture geek niche there are a lot of hard core fans that would love to throw their money at anything related to comic books and nerdy collectors items. After all it is why events like Comic Con do so well because there are nerd like me that will spend money to go and spend money buying merchandise while we are there.
Given that, why doesn’t Comic Bento who I first found while attending NY Comic Con in 2016 not use email marketing to sell me more stuff?
They could have easily sold me hundreds of dollars of merchandise is they wanted to over the time I have been a subscriber but they didn’t and if I choice to no longer be a subscriber next month then they will lose the chance forever.
If I spend $300 a year with them as subscriber.
I pay $25 a month on that monthly plan.
I am a subscriber for 12 months.
Comic Bento makes gross revenue $300.
They could have easily especially in the niche they serve could have increased my spend with them by at least 50% or more had they offered me something else.
So let’s say that they left $150 on the table because they didn’t use email marketing.
That might not seem like a lot but that is just one subscriber who has been with them 12 months.
But what if it were X more:
10* $150 = $1,500
100 * $150 = $15,000
1000 * $150 = $150,000
10000 * $150 = $1,500,000
However having a subscriber for 12 months is not the norm so let’s do the math for the average time someone stays a subscriber which is 3 months.
Let’s say $37.5 is the average I might have spent had they emailed me other offers over the course of 3 months before I unsubscribed. (Remember this is a comic book company Comic Bento.)
I pay $25 a month on that monthly plan.
I am a subscriber for 3 months.
Comic Bento makes gross revenue $75.
But what if there were x more like me:
10* $37.5= $375
100* $37.5 = $3,750
1000* $37.5= $37,500
10000* $37.5= $375,000
So even if there only 10 paid subscribers like me on Comic Bento’s list that bought from them. They still would have made an extra $375 in gross revenue had they used email marketing before those subscribers cancelled their subscription.
Now in the first example I mentioned that I have been with them over a year but just estimated the amount of money they have left on the table with me being a subscriber for 12 months. ($150) Now if there were just 10 more like myself then they have left at least $1,500 on the table.
Email marketing could have increased the revenue of this company without them worrying about additional cost on PPC traffic. They could have made thousands of dollars very easily with email marketing to their paid list but they didn’t and since I am still a subscriber. I can tell you that Comic Bento is still making the same mistake.
The question is will other subscription box companies continue to leave money on the table or start using email marketing to increase their revenue?
To learn how you can use email marketing to increase the revenue of your company.
Depending on how long you been on my email list you may have noticed that I have yet to go into the whole Hero’s Journey thing.
This might seem strange to you especially since I have rarely used the term Hero in my emails even the ones that are based on comic books.
Right now I am going to tell you why that is so that you don’t get duped into some B.S that a lot of internet marketers are pushing when it comes to using story and The Hero’s Journey.
First off the Hero’s Journey that they like to talk about is a lot more complex. They only give you the Hollywood version of it. Which is fine until you realize how many flops on the Big and small screen there have been even though everyone is using the same formula.
Two the way I have seen marketers teach it. It is missing some key points which could be critical when it comes to creating over content especially content that sells.
Three The gurus and experts on this in the marketing world all want you and force you into fitting everything little thing into this template. That is another reason why so many experts and influencers sound the same. Sounding the same as every expert in your field will help ensure you go out of business especially when the next big internet crash comes.
Story is so much more than the Hero’s Journey and you can use it to build your brand and sell a ton more of your stuff if you learn to do it the right way.
Cramming everything you got into this template is not going to help you make more money when the bubble bursts or when your competition get some celebrity/influencer guru endorsements.
Besides why stress yourself out trying to do that when I can show you a better easier way to use story in your emails to make them sell?
You got a list of people that subscribed for one reason or another and I can help you discover ways of tapping into their problems, joys and curiosities using story selling and help you turn them into buyers.
A big claim I know but I got quite a few marketers that have used my ways to make more money in their businesses as well as a few entrepreneurs that were struggling to figure out what to write about to their list until they implemented some of my proven ways.
To Learn more about them or to possibly work with me.
Now there are many ways to get cash Fast…Dealing Drugs is said to be one of them but I’m not here advocating you go down that or any dark path to get what you need or want.
There are other ways to get the same result. I had to figure out my own way of doing it even though it was a pain in the butt and took some time. I discovered a way to create a Fast Cash system that works for me and apparently also worked very well for one of my old clients.
In fact when I applied my Fast Cash system to his business he added a cool 12,453 in extra sales.
So yeah I’m pretty confident that my system works well and I designed it so that you don’t have to be a good copywriter to make it work for you.
Because I like things being as simple as possible and I continually refine this system so that it gets easy to plan and implement each time.
I never taught this system to anyone including my subscribers but for the first time on Friday 12-15-17.
I will reveal my Fast Cash system and do it with a live example. It is not something that you want to miss and for $99. Is a very small price to pay for a system that brought in over 12K for a client within 4 days.
If you want my Fast Cash system and the ability to ask me questions while I’m doing the live training or you just want the recording then click the link below.
Every business should have a mission and a vision. This is what helps you develop what your Brand Story is going to be. The mission isn’t just about your company’s growth or your personal wealth but about something more than that. The vision is your Big Idea and the mission is your way to your Big Idea. Spend time on figuring out what your vision is for the future in regards to your company. Then start working on the mission that your company will go on. That is part oft he Brand Story that you know what these things are and are clear about them.
If you do not have a vision or a mission for your company then you are leaving the way your company is perceived by others and those others may be your competitors.
Think hard and be wise and true.
This is a critical step in figuring out what your Brand Story is going to be and how and the why the audience you want that will pay you will take a chance on you in the first place.
Marketing Your Brand Through Story Telling with Lauren Hazel | Contractors Secret Weapon Podcast Episode 170
I had a lot of fun giving some advice on how contractors can use storytelling to build up their businesses. Here i the link to listen and download and make sure you check out www.contractorssecretweapon.com.