I have rounded up the most common questions I have received about the Reply Yes process, and I am answering them so everybody has a clear understanding of how this works and the positive impact it can have on your business.
The Reply Yes process helps you make more money from your existing subscribers so you have a more profitable business.
For a full breakdown of this, make sure you listen to last week's episode, where I explain this in detail.
The Subscription Box Cash Machine Training Beta is now open for a very limited time. You can join at www.SubscriptionBoxCashMachine.com."
I have rounded up the most common questions I have received about the Reply Yes process, and I am answering them so everybody has a clear understanding of how this works and the positive impact it can have on your business.
The Reply Yes process helps you make more money from your existing subscribers so you have a more profitable business.
For a full breakdown of this, make sure you listen to last week's episode, where I explain this in detail.
The Subscription Box Cash Machine Training Beta is now open for a very limited time. You can join at www.SubscriptionBoxCashMachine.com."
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. Hope you're having a very good day. On today's episode, I am going to answer some questions about this reply yes process. Last week, I put out a episode covering this process in detail, so if you don't know what it is, I definitely recommend going back and checking out that episode. But basically, the reply yes process is something we invented in Buster Box back towards the end of 2022 to sell more products to our existing subscribers. We add to Box and it's been a complete game changer for our business and we've generated tens of thousands in extra revenue by doing this. So I put out that episode and I've had so many different people reach out to me asking about this. So I rounded up the most common questions and I have them laid out here and I'm going to answer them because I think this will help everybody understand this process in more detail and ultimately, hopefully help you sell more products in your subscription box business and make more money. So let's jump into it.
Speaker 2:Number one Does the amount of extra revenue you can generate depend on how many subs you have? Well, the short answer to this is yes. If you have more subs, you have more people to sell to, so you're probably going to make more money. But it's all relevant to the size of your company. Look, if you're only a small company and you start generating any extra cash from this, it's going to have a big impact on your business. You can also influence how much money you actually make depending on the price of the add-ons that you sell. So if you're a smaller company and you spend some time gathering up more expensive add-ons and that's what you actually sell to your customers, well then you're going to generate more revenue.
Speaker 2:Number two how often should you send these emails? This is a very good question and it's actually completely up to you. If you want, you can send them once a month, or you can send them once a week, or whatever works for your business and your revenue goals. You can test them at a slower schedule, when you're kicking things off. You can send them, like I said, once a month and then, if you see they're successful, you can test ramping it up if you want. We were actually sending them once a week and it was working for a very long time, but this year we may actually be more tactical and send them less frequently, but spend more time picking out more expensive products. We have a theory that if we do that, it will build up some sort of demand and we may make more extra revenue overall. But we need to actually test it, and for you, it all depends on what you want to achieve. But, yeah, test it, that's the best way to put it.
Speaker 2:Number three Does this affect your term rate? Again, a very good question. The only way this would affect your turn rate would be if you kept spamming people over and over and got them really annoyed. If you're sending out well-taught-out emails with products that your subscribers are actually interested in, then, no, it won't affect your turn rate and, if anything, it could be seen as an added benefit to your subscribers because you're giving them the opportunity to grab these really cool products and hopefully save money on shipping at the same time.
Speaker 2:Number four I'm not unsubly. Will this work on my platform? Now, like I mentioned previously, I've never used any other platform, so I don't have a clue what the capabilities of them actually are, but it will probably work If you can run a manual charge on your platform and you have some way to track who bought what, whether that be by tagging an order in some way or using an Excel sheet. You will be able to do this on your platform and if you're not sure, reach out to your platform support and ask them.
Speaker 2:Number five this was kind of a weird one. Will this cause chargebacks? No, we have generated thousands in additional revenue and we've ran this for over a year and we have not received one charge back because of it. The customer is giving you permission to charge them by replying yes. Any email you send out will be clear and the customer will understand exactly what's going on. Plus, they want the products and when they reply yes, they're giving you permission to charge them to receive the products Somebody mentioned. Would it be better if you sent your customers to a checkout to buy the products themselves, which is a valid point, but in my experience, this lowers the conversion rate because there's more friction. The customers to head over, pull out their credit card, do all this stuff to actually complete the transaction With the reply yes process. The customer just replies yes, pay less friction and because of this, when you do it right, you make way more sales and make way more money.
Speaker 2:Number 6. How long does it take to do this process each month? Well, we've a VA doing it for us, and it takes a maximum of 5 to 10 hours per month, depending on how many emails we send. It generates us a lot of extra revenue, so this is 100% worth it. If you're sending less emails, it's obviously going to take less time. Also, if you're on Subly, they've actually found a way to help automate this now, so you've the opportunity to do that if you're on the platform Number 7.
Speaker 2:What are the benefits? Well, the benefits are you can make much more money from your existing subscribers. You don't need to spend on marketing to increase your revenue, and your business will be much more profitable and your customers will be worth much more. If your customers are worth much more, your business is worth much more. You can also choose to reinvest some of that additional profit into marketing to acquire new customers and grow your subscriber base. Overall, this is a complete game changer for anybody with a subscription box business who wants to make more money and actually have a better business.
Speaker 2:Now, if this sounds good and you actually want to implement this in your subscription box business, I have some good news. My subscription box cash machine training is now open. This is a workshop that I put together which shows this process in detail, it will show you exactly how to implement it and it will give you access to 25 of our best-performing reply yes emails and subject lines that you can repurpose and use in your own reply yes campaigns. The training has everything you need to run this process and start making more money from your subscription box today. Now the training is in beta, so that means there's a massive discount if you join right now. I'm only keeping it open to 50 people or for a few days max. That's literally it. This is a brand new training that I put together with the sole intent of helping people make more money from their subscription box business in 2024. So if you want to grab it, head over to subscriptionboxcashmachinecom and you can join today. It's just open today, but if you're thinking about it, don't wait too long because it will not be open for a lot.
Speaker 2:Thanks very much for listening. We will be back next week at the exact same time and, as always, if you have a question you want answered on the show, head over to subscriptionboxresourcescom, join the free Facebook group and post your question there. I also want to give a big shout out to all the new people that have joined the group over the last few weeks. We're actually now over 9,000 members and it's fantastic to have so many different subscription box owners in one place sharing helpful tips and information with each other. We've people in there at all different stages. Some people are only getting started and some people have grown really big businesses. So definitely use that group to your advantage. There's a lot of knowledge in there. Thanks very much and chat to you next week. Bye, bye.