Subscription Boxes – Is It Worth It?
Many companies today offer a range of subscription services for their products in an effort to reach new audiences, offer samplings of products, or retain the loyalty of their buyers. Subscriptions are an effective way for customers to automate their deliveries without having to worry about remembering to place their orders on time each month. But depending on the structure of your business model, and with so many brands setting up subscription boxes the wrong way, you’d be wise to question whether or not hopping into the subscription world is worth it. Let’s breakdown the benefits of offering subscription boxes, and the potential dangers that can trip your brand up in the short term.
Harnessing Social Trends
Every passing minute, a new product is being unboxed and reviewed either live on a stream or through a pre-recorded video on Youtube. The “reaction video” or “unboxing” genre has given way to millions of ordinary people creating content out of their new product purchases, showcasing the first moments of opening the box. Billions of views have accumulated on these kinds of review videos because consumers want to see what they’re getting out of the box before spending larger sums of money on a new product. As most shopping today is done online, many customers have no way of experiencing what the product will exactly look or feel like without viewing an unboxing video covering the product. The intimate, genuine reactions content providers give during their unraveling is free of marketing strategies or product marketing of any kind. Allowing consumers to hear a voice that is on their level of curiosity instead of pitching them an idea grants a comfortable distance from the company of origin.
Some social media accounts have risen so high in popularity, that simply having one of your products appear on their channel will cause a massive eruption of brand awareness and traffic toward your website. In this particular setting, it’s extremely important that the quality of your subscription box is at its highest level so that you can impress the new audiences. Product marketing via content creators is a great way to get your product out to new audiences while learning which aspects of your design are holding you back. When you work with a digital marketing company like Smashed Media, collaborating with tastemakers online can be a central part of the social media marketing strategy for your subscription box.
The Costs Vs. The Benefits
Whether you release a line of sample size products with a larger subscription box company, or you begin shipping your own recurring orders, identifying how much growth you’re achieving can be a struggle. Many brands have had negative experiences with subscription box placements because they don’t immediately see their return on the investment. Like many marketing initiatives from your digital marketing company, returns on promotions cannot be expected right away. Subscription boxes are a methodical way to plant your brand name into the minds of potential consumers while giving them an unforgettable first impression. For the consumers already on board, subscription boxes become a product marketing tool to display up and coming innovations for the brand. With a bit of customer feedback, you can determine the direction of your product development alongside a digital marketing company such as ours. By targeting niche audiences with appropriate levels of distribution, companies can utilize their boxes as a marketing strategy while retaining subscribers throughout their campaign.