If you are an entrepreneur looking to take your product line to the next level, a strategic partnership with a subscription box service catered to your primary demographic may be just what you need. Subscription boxes are a curated collection of premium samples and even full-sized products that arrive monthly to subscribers who pay monthly or annually to receive them. There are three key advantages for your brand if one of your products is in the box.
1. Increased Sales
Many high-quality products need only a brief trial period to convert prospective customers into actual ones, so the samples you place in subscription boxes directly translate into sales. Sales are the ultimate goal of every entrepreneur, hence the number one placement on this list. You could try handing out samples on your own, but subscription boxes probably have a much broader reach than you do.
If you’re wondering why samples distributed in this manner are so effective, the answer lies in targeted marketing. Anybody who subscribes to a subscription box service is actively looking for new products to try and buy in regards to your market. Assuming your product makes a good impression, they are already willing to open their wallets for it. Your marketing strategy could not hope for a better audience to pitch to!
2. Increased Website/Social Media Exposure
Many consumers want to research any new product before they commit to purchasing it, sending your target audience directly to your website and social media profiles. This is an excellent opportunity to clinch the sale with glowing reviews, promotional pricing, or a combination thereof.
You can also use this spike in online engagement to establish a more personal connection with your potential customers. Consumers prefer to patronize companies that they feel a connection with, and talking online is a great way to foster such a relationship! You’ll get additional Likes on Facebook, Twitter followers, and subscribers to your email newsletter if you take advantage of the interest spike. The benefits of this can last well after the subscription box has moved on.
3. Improved Brand Recognition
Of course, it’s completely unrealistic to expect a 100 percent conversion rate even if you appeal to the ideal buyer. Subscription box recipients who choose not to immediately purchase your product may file your brand’s image in their minds, giving you a brand recognition you can appeal to with subsequent marketing materials.
Many media outlets and influencers accept subscription boxes as a legitimate source of information on the types of products they offer, so your product’s inclusion also helps legitimize your brand in the eyes of potential skeptics. You can also count on an extremely positive portrayal of your company and product in the box, as subscription boxes try to sell everything they contain in any given month.
The reasons above make subscription boxes a great way for small companies to expand their reach and increase sales. You’ll probably have to take a loss on the merchandise provided to the subscription box companies you work with, but most successful entrepreneurs agree that it is worth it in the end.