You might consider selling subscriptions if you are thinking of opening an online shop. This is a smart move. The subscription eCommerce market is growing by more than 100% per year. Companies sell everything, from wine to crafts to toys.
Because subscribers generate consistent, recurring revenue, their lifetime value is higher than that of the average customer. Who doesn’t want to make money every single month, even if they don’t have to find new customers?
You must take the necessary steps to be successful.
1. Pick a niche
Begin with something that you are passionate about. What are you passionate about? Do you have a solution to a problem? Are you a skilled craftsperson or have you created products yourself? You are the first to build a beloved brand. Passion is infectious.
Keith, the founder of the Cola Gourmet healthy food subscription service, said, “We started looking for ways to improve ourselves and our health. During our journeys, we discovered the incredible, transformative power and benefits of clean, good food. Cola Gourmet is more than just a business to us. It’s our passion.” Cola Gourmet took something they loved — healthy, ethically sourced food, and made it a profitable business.
2. Find and package the best products
Next, decide how you will source and package your products. Do you plan to sell handmade products such as soaps, wood crafts, and baked goods? Are you going to hire a manufacturer for your products? Will you repackage products that are already in production?
You must offer something different if you want your subscription service success. It could be your products or the way they are packaged.
Kawaii Box collects adorable products such as squishies and stationery into themed monthly boxes. Although they don’t make unique products, they pack them in a way that makes the boxes stand out and gets customers excited about receiving their boxes every month.
3. Create your online store
Kobe Digital has everything you need for your subscription store to be up and running. Kobe Digital comes with all the basics and many add-ons that allow you to create your website. These are the steps to get you started.
- A setup wizard will guide you through the process and help you get ready to sell.
- Integration with a payment gateway is a tool that allows you to collect online payments. One that allows for recurring charges is required.
- Establish tax calculations.
- You can create any page you like. You will need a homepage and About pages. Contact information is also required. FAQ page. To get started, navigate to Pages-Add New. then use the block editor for adding content such as images, text, videos, and buttons.
Being a professional photographer is a must-have, as well as learning how to take high-quality product photos. You will need to show your products in pictures since customers cannot touch them.
4. Choose a pricing structure
Kobe Digital allows you to structure subscriptions in many different ways.
Your customers and you both benefit from selling single products as subscriptions. Customers get recurring revenue and don’t need to worry about reordering. This is particularly important for products such as dog food and coffee that customers will not want to run out of.
One-off products available with a subscription
Customers might be able to choose whether they want to purchase your products once or receive them every month. Kaneny allows customers to choose whether they want to buy their products “this once only” or “now, Auto-Replenish”.
Install the All Products extension to add subscription plans for existing products. Subscription plans can be included on the cart page to encourage impulse buying or you can offer discounts to subscribing.
Subscription boxes can be a great way for customers to stay engaged and entertained. You would typically curate themed products you buy or make every month. You can create boxes that are based on specific regions, hobbies, interests, or diets.
Fairy Loot offers fantasy-based book subscription boxes that are filled with treasures such as bookmarks and pins. Unboxing is fun because subscribers don’t know what’s inside until they get it.
A create-your-own subscription box with discount bundles
You can also make your subscription boxes to choose what you’d like each month. This allows them to choose the size, flavor, or color they want and is very customizable.
Additional pricing considerations:
- Frequency. Frequency. How often would you like to deliver products? Weekly, monthly, quarterly? Are you willing to offer multiple options?
- Discounts. Discounts.
- Signup fees. If your first shipment contains a highly valuable item, you might consider charging a signup fee. You might be able to charge one price for your first box of shoes, but a recurring monthly fee for laces.
Bold Socks offers a variety of options to allow for a custom and flexible subscription. Customers can select the number of socks they would like, the length of the subscription, the type of socks they prefer, and the level to which they want. A bonus pair of socks is included in the first subscription box, as well as free shipping.
5. Get shipping set up
Next, you need to decide how you want to ship your products. These are two of the most important considerations:
- Which carrier would you prefer to use? Consider delivery times, pickup options, and shipping rates. Also, consider any special considerations such as refrigeration.
- What shipping charges do you prefer? Are you willing to charge shipping fees based on weight, total order, or both?
6. Reach new customers
Once your store has gone live, it is time to start looking for subscribers. These are some ways to get traffic to your website.
- Email customers to inform them about sales and new products or to encourage repeat purchases. Learn more about email advertising for eCommerce stores.
- Social media can help you expand your reach. Find out more about social media to expand your audience for online shops.
- Content marketing is a way to reach people and grow your online business.
- With search engine optimization, you can appear on Google for shoppers searching for your products.
- Refer customers.
Based on the value and where customers spend their time, different marketing strategies might be best. It is important to remember that success in marketing takes consistency and experimentation. Sometimes, it may take some time to find the right strategy.
Online subscription sales
There’s no better time to start selling subscriptions online and make recurring income. Kobe Digital gives you everything you need for a fully functioning store that is as unique as your products. Be creative and create a business you are passionate about.