"In today's episode, we're covering something very exciting (and essential for 2024) – how to make more money by selling your subscribers more products with add-to-box.
Let's face it, the more valuable your subscribers are, the more you can spend on acquiring new ones, blowing past your competitors, and building a business that's not just successful, but seriously lucrative.
The old playbook of just selling a subscription box? That’s history. The entire industry has changed, and unless you are maximizing your customer lifetime value, it can be hard to do well in this climate.
Today, I am covering a secret process we have been using at BusterBox to make a lot of extra money, called the 'Reply Yes' process.
It’s hands down the easiest and most profitable way to get your customers to buy more products and add them to their delivery.
(Anybody I have shared this with has had a lot of success with it and made more money)
Over time, this can mean a whole lot of extra cash in your pocket. And here’s a little insider info: our 'Subscription Box Cash Machine Training' kicks off on January 15th. It's still in beta, but I'm letting just 50 people in at a ridiculously low price.
Want in? Head over to www.SubscriptionBoxCashMachine.com to join the waitlist."
"In today's episode, we're covering something very exciting (and essential for 2024) – how to make more money by selling your subscribers more products with add-to-box.
Let's face it, the more valuable your subscribers are, the more you can spend on acquiring new ones, blowing past your competitors, and building a business that's not just successful, but seriously lucrative.
The old playbook of just selling a subscription box? That’s history. The entire industry has changed, and unless you are maximizing your customer lifetime value, it can be hard to do well in this climate.
Today, I am covering a secret process we have been using at BusterBox to make a lot of extra money, called the 'Reply Yes' process.
It’s hands down the easiest and most profitable way to get your customers to buy more products and add them to their delivery.
(Anybody I have shared this with has had a lot of success with it and made more money)
Over time, this can mean a whole lot of extra cash in your pocket. And here’s a little insider info: our 'Subscription Box Cash Machine Training' kicks off on January 15th. It's still in beta, but I'm letting just 50 people in at a ridiculously low price.
Want in? Head over to www.SubscriptionBoxCashMachine.com to join the waitlist."
Welcome to Subscription Box Answers with your host, liam Brennan. You're no rubbish, no crap. Straight to the point podcast with real, actionable tips, real strategies and insights from the industry which will help you start and grow your own successful subscription box business. You ask the question, you ask the questions, liam gives the answers. It's as simple as that.
Speaker 2:Welcome back to a brand new episode of Subscription Box Answers. I hope 2024 has started really good for you. Things are going quite well in Busterbox at the moment. We are adding a lot of new subscribers for a very cheap caq, so I'm really happy with that. Cpm prices have obviously dropped because we're out of the madness of Q4 and it's not as competitive anymore. But look, if you need help, start in January in the strongest way possible. Make sure you check out the previous episode where I break down exactly what you can do to make that happen.
Speaker 2:Now, on today's episode, let's chat about making more money in your business from your existing subscribers, because, look, at the end of the day, that's why we're all actually in business. We need to make money, otherwise, what is the point of all of this? And the good thing is, you more than likely can make a lot more money from the existing subscribers you have if you know the correct way to sell them more products. Now I want to tell you a story dating back to 2022. We were coming off the pandemic wave, where ongoing businesses absolutely exploded. People were at home, they had more money to spend, ad prices were cheaper because supply was higher and it was just a very lucrative time to make money online. There was so much opportunity back then, you couldn't actually put up any kind of ad and you will be able to acquire a lot of customers for a very, very cheap price. But in 2022, we saw things were starting to return to normal. Plus, everybody was still dealing with the iOS updates and it was actually becoming more difficult and more expensive to acquire customers, and we realised to survive and actually have a driving business, we would have to make more money from our existing subscribers. Yeah, it was still really important to acquire new customers, but we had to maximise the return we were getting from marketing and to achieve that, we would have to sell more products to our active subscribers, and just offering a subscription box on its own wouldn't really cut it anymore. Look at it this way if you're selling your existing subscribers more products, they will have a higher lifetime value, and that obviously means they're worth more money to you. And if a subscriber is worth more to you, then you're actually able to spend more to acquire them in the first place, and that's another part of the reason why going out and selling more products to your existing subscribers is actually really important. It's obviously important from the standpoint where you want to be more profitable and earn more money, but it also actually helps your core subscription box business. It helps improve your metrics and it just puts you in a position where you aren't as worried about ad prices going up and down, and it also puts you in a position where you're actually able to spend a lot more than your competitors to acquire customers in the first place, and that gives you a massive advantage when it comes to actually trying to scale up your company.
Speaker 2:Now, the first thing we did was we focused on our e-commerce store, because we've obviously always had an e-commerce store and it was providing revenue for us. We were making sales on our e-commerce store and it was going okay. We thought if we put more effort into it, the likelihood would be we'd be able to actually grow it further and that's where our additional revenue would come from. Now it was growing, but I personally felt that we were probably missing out on a lot of sales and we could probably be doing a lot better. I felt like we were missing out on sales to Amazon and to bigger pet retailers, even though we have lots of our own original products and they're really, really cool. It's very hard for a small to medium-sized online store to actually compete with Amazon or some of these bigger retailers. Because they have such big economies of scale, they're able to normally provide a lot better prices, and then obviously they can provide free shipping with Prime. So I was thinking the only way we can possibly compete is if we come up with a unique selling point.
Speaker 2:If there's actually a reason why somebody would come to us ahead of Amazon or some of these big retailers, like, what would this reason be and how could we make the mouse of it if we actually came up with the reason? Now, the reason why our box does well and your box probably does well is it actually has a unique selling point. You can't necessarily go to Amazon or any of these retailers and get a custom box of toys and treats in a nice team sent out to you every month. You can't get that with either of these options, and that's something that we provide. That's completely different and it's something that you provide, which is completely different as well. So then we came up with the idea to just give people the opportunity to add more products to their box, lean really heavy into, add the box and see how our customers would respond to that. Our thought process behind it was they already love the box. We already have their payment details on file and for the vast majority of products, if they decide to add them to their box, they are going to get free shipping, so that would be a unique selling point. Instead of going to Amazon or any of these big retailers, just add more stuff to your box and then you get the convenience of having it all delivered together.
Speaker 2:When we had this realization, we then had to figure out what would be the best way of doing add the box for our customers Whether we need to come up with these really complicated sales for us. We did try that and it never worked complete waste of time. Do we need to do something with our platform? How can we actually provide this service to our customers? And, like many things in business, the simple way is normally the best way. So we came up with a process called the reply yes process, and then I came up with a framework behind that process, which could then be used to sell every single add the box product that we were promoting. Now the framework is very easy, right? This is how it basically works.
Speaker 2:You send out a personal email to your active subscribers and you give them the opportunity to buy a product and add it to their box and, further, to do this, all they need to do is reply yes to the email. That's simply it. It works really really well. So the first month we did it, we were blown away by the amount of people that actually replied yes and the amount of money that we made. We thought it could be some beginners look. So we did it again a few weeks later and we had a lot of people reply yes and we made a lot of money again. And we did it again and again, and again, and the net result of this was we made thousands, actually tens of thousands, of extra revenue that we simply never would have made without this process. So it was 100% worth it and, yeah, it just allowed us to make a lot more money and achieve the goal, which was to find a way to make more money from our current subscribers.
Speaker 2:Now I actually have one of these reply yes emails open in front of me that I wrote a while ago, which performed really well, and I want to read it out for you. Subject line important update about your Buster box. Hi, I hope you and your dog are having a great day. I'm reaching out to let you know your dog's box is currently getting packed and we have something very cool that we can add to your box, if you want. All you have to do is reply yes to this email, if you want it. We just got a fresh delivery of Tapos Smart Cameras.
Speaker 2:This is a brilliant product. We have been selling them for a while and everybody who got one loves it. How it works is you can set it up at home and use it to find out what your dog gets up to when you're out or you're at work. You can even download an app on your phone which can be used to see your dog and communicate with them using the two way audio feature very handy to keep in touch. Here is a picture of the camera and then, obviously, you see a picture of the product and here is a testimonial from one of our customers. This is extreme, but you can see how useful this product is. Hi Buster box. I just want to thank you because your camera saved the lives of myself and my dogs after someone put petrol through our letter box the other night. But we were alerted to them by the camera and they failed to load up the petrol. The police and firefighters said that the camera saved our lives, so a huge thanks to Buster box for keeping the dogs safe and us. So if you would like to add the camera to your box, simply reply yes to this email. We will charge you £24.99 and you will have it automatically included in your next Buster box If you want it. We need to reply by 11am tomorrow to ensure we have the time to add it to your box before it's packed. Kind regards Leem. Buster box. Co-founder.
Speaker 2:Now we have different variations of this email that we send out for all of our different ad box products. We have loads of different products that we've tried and this framework works great with them all. One time products, other subscriptions, prepaid subscriptions you name it. We have sold them with the reply yes process. Now, the reason why it works so well is it keeps things really simple and easy for the customer, because all they need to do is reply yes, you have their details on foil already so you can charge the card. That means the conversion rate is really high Way higher than anything else we tried Like way higher than online stores, complicated funnels, any of that stuff. This has consistently outperformed all that stuff since we implemented it. Now these emails are written in a very particular way. They contain urgency and scarcity, which obviously helps drive up response. If you don't write the emails following this framework, you may get some sales, but performance will be nowhere near what you could have achieved if you actually followed the framework. Now we have actually incorporated this process into our marketing, our full-time marketing, and we send out a lot of these emails and they make us a lot of extra money over time. This makes way more money than our online store or, like I said, anything else we tried.
Speaker 2:Now I've spoken about this process briefly over the last year or so, but I never went into detail, mainly because I was still learning and testing things myself. Anyone I did mention it to briefly, though without going into a lot of detail, seemed to make money from it. Now, right wrong in the year, I was doing a bit of private consulting for Lau from Passion and Grout really good box and business, by the way and I explained the reply yes process in detail and I also gave her some email templates to use because I wanted to help her make more money and I wanted to see how well it would work for a box in a completely different niche. I'm in the pet niche, she's in the self-care niche, so they couldn't be further apart from each other. So she tried. It followed a template I gave her and one of the first emails she sent out made her thousands in extra revenue. Now I was really happy to see that, and she's doing these pretty regularly now and they've been working great. So it got me thinking of how I can help more people make more money this year with this reply yes process.
Speaker 2:So I created a brand new workshop slash training program which is called the subscription box cash machine training. Now why have I called it the subscription box cash machine training? Well, that's because I believe it's the closest you will ever get to turning your subscription box into a cash machine slash ATM. Seriously, with this you send out emails and you get cash back. Now this isn't some crazy high price training or anything like that. I'm charging $150 for lifetime access to the subscription box cash machine training. It's in beta and I'm sure in the future I'll probably add more stuff to it and if you Join now you'll get free access to that. You'll get lifetime access to every version of this training, but right now it has everything you need to start making more money straight away and seriously, this training is worth a lot more than $150.
Speaker 2:I'm only doing it at this price because I want to make it accessible and I want to show people what I offer actually does help and isn't some crap that's been pulled from Tin Air. Anything I share is stuff that has been tested in my own business at a big scale, and if I show people that I can help them, it's likely they'll buy more of my products and services in the future. I would love to actually make a guarantee to say you will earn the $150 back ASAP, because more than likely you will. But I'm not a psychic and I don't know who's going to buy this product and I don't know what you're actually going to do with it and I don't know how many subscribers you even have. So I don't want to make any guarantee, but there's a high likelihood that you'll make the money back ASAP and it'll be a great investment for your business to start off 2024.
Speaker 2:So what does the subscription box cash machine training contain? Well, it contains everything you need to start making more money in your business ASAP. It's broken down into simple to follow videos that you can do in your own time. I explained the process in detail, including products and offers, and I also include 25 of our top performing emails post-subject lines that you can take and remodel for your own business. Now for $150,. This is ridiculously good value for what you're actually getting. This is the perfect training to set you up for 2024.
Speaker 2:Now you may be thinking what is the difference between this and the subscription box experts program? Well, the subscription box experts program helps you grow a profitable subscription box business. It shows you how to get more subscribers, how to manage your metrics, it goes into detail about the model. It has everything you need to scale up, with loads of support and extras and bonuses, and it's a lot more expensive than this. The subscription box cash machine training will show you how to make more money from your existing subscribers straight away. Now I'm opening the training on the 15th of January. There's not going to be any big crazy launch or anything like that. If you want it, make sure you head over to subscriptionboxcashmachinecom and join the wait list there. I'll keep it open for a few days and the maximum number of people I'll let join is 50 and then I'll close it and in the future, if I reopen it, it will be out of beta and it'll probably be a lot more expensive. So if you're interested, head over to subscriptionboxcashmachinecom and join the wait list.
Speaker 2:Now you may be thinking will this work with my platform? We use Subly and it works perfectly. They actually did some work because they saw how effective it was for Busterbox and they made it work even better. So if you're on Subly, you're 100% covered. Now, if you're on a different platform, the likelihood is it will probably work for you. If you can run a manual charge and tag a order in some way, it will work for you. But I'm not an expert on every single platform. So if you're not sure, reach out to your platform support and see if they will work around for you.
Speaker 2:Now, if you're wondering how much extra revenue you can generate from this, it will depend on a couple of different factors. It will depend on how you implement the information. Number one and number two how many subscribers you have. If you have more subscribers, you probably can't generate more revenue each month because you have more people who will be buying products and adding them to their box. But even if you're a smaller subscription box. This is still worthwhile. It's all relevant to your business and it can still have a massive impact and make your company way more profitable. Now, as I said, this training will be open on January 15th, so if you're interested, head over to SubscriptionBoxCashMachinecom and join the waitlist. We will be back next week at the exact same time and if you have a question, make sure you head over to SubscriptionBoxResourcescom and post it in the group. Thanks very much for listening and chatting next week. Bye, bye.