Subscription Box Answers

This Offer Mix Got 2,000 New Subscribers Signed Up In A Few Weeks (Copy It)

• Liam Brennan

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In this episode of Subscription Box Answers, I’m sharing marketing tips to help you maximize revenue and attract as many new subscribers as possible this Q4. 

Today, I’ll discuss an offer mix that helped us sign up 2,000 new subscribers in just a few weeks. 

We’re running two offers simultaneously, which has helped us overcome spending limits, reduce our CAC, and increase subscriber sign-ups. 

Different customers respond to different offers, each with its own pros and cons, and I’ll break down why this strategy worked so well for us. 

I’ll also explain how you can apply it to your business to hopefully get a lot of new subscribers signed up

If you have a question you’d like answered on the show, be sure to head over to www.SubscriptionBoxResources.com, join the free Facebook group, and post your question there.

Speaker 1:

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 questions, you ask the questions, 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 you're having a really good day Now. Apologies if my voice sounds a bit strange Today I am coming down with a cold. I was away last week at a football match and I think I caught a cold watching the game. But anyway, on today's episode we are continuing with marketing stuff. We're talking more about marketing because I want to help you make as much money as possible this Q4 and I want to help you get as many people signed up as possible this Q4.

Speaker 2:

Now is the time to push on and make as much progress as possible in your business. So today we're talking about offers and I want to share with you something we have done in BusterBox that has been very successful over the last few weeks and it's actually helped us acquire around 2,000 new subscribers. So we're currently running an offer mix on our website. We're running two offers. Well, we have a few different offers, but we're currently running a offer mix on our website. We're running two offers. Well, we have a few different offers, but we're advertising two main offers. The first one is a free bed and the second one is a free box. Why are we doing this? Okay, number one different customers respond to different offers. So there's customers out there who really like the free gift, especially a dog bed, around this time of year. On the other hand, there's a percentage of customers who don't really respond well to a free gift and they respond better to a free box. Now, both of these offers are only available on the six month and 12 month plans.

Speaker 2:

We're not like just giving beds away for free and boxes away for free, and with a free box you obviously have to pay shipping as well. Now, the benefit of this is right the customer acquisition cost on a free gift is typically higher. It's harder to get people to pay full price, even with a really good free gift, but the churn is typically very low. Now, with a free box, it's a complete reversal, because the customer acquisition cost is typically much cheaper, but the churn is way higher. Now, if you ever do decide to run a free box just so you know you really need to be on top of your metrics to ensure it's profitable. But it can be not for all niches, but it can be for some niches. Now, the benefit we're getting with this mix is it's bringing down our customer acquisition cost and helping us drive volume while also ensuring we add completely hammering our churn rate with just free boxes. It's also helping us keep our average revenue per user up, because a good proportion of people coming in are paying full price.

Speaker 2:

Now, over the last few weeks, we've obviously, like I said, acquired around 2,000 new subscribers and our revenue has grown a lot, and it's all down to this mix. Also, the fact that we're running two offers at the same time gives us more freedom with email rotation, so the message isn't getting as repetitive. We send a lot of emails in BusterBox pretty much every single day, especially throughout Q4. So if we're just repeating the same thing over and over again with the same offer we're that's going to get very boring very, very quickly. So this obviously gives us the freedom to switch things around, and we do have some other offers as well that we slip in occasionally too. Now, this isn't the first time we've done this. In the past we have had situations where we're running like four or five offers at the same time, and what we have found, particularly in the UK market. Obviously the UK market is big, but it's nowhere near as big as the US.

Speaker 2:

You will hit a wall with your advertising. Spend a lot quicker. So, even though you can spend a good amount of money, eventually you hit a point where you just can't spend any more because you don't get the return. You don't get enough people signed up for your spend. But what we found is, if you have a few different offers running at the same time, that actually can allow you to spend more and get more people signed up, because, like I said, different people are attracted to different offers. So that's definitely something you should pay attention to. If you feel like you've hit a wall with your current offer, maybe you don't need to get rid of it. Keep it running, but just add something else as well so you can get more people signed up.

Speaker 2:

Right now, we're obviously only running two offers. Well, we have other ones on the website, but we're only really paying for traffic for two offers. But as we go deeper into q4, we will add more stuff to keep things fresh. We'll have christmas boxes, we'll have christmas specific offers, we'll do free projectors, we may bring back the free camera, we'll have a good few different things going so we can really put the foot down and get as many people signed up as possible. So what can you learn from this. Well, what I would say is, if you are stuck at a certain level of new subs and you can't break through, like I said, you should start testing other offers. Add other offers to the mix. Keep doing what you're doing, but add something else, because this can help you increase your volume and get more people in while keeping the cack down.

Speaker 2:

Now, obviously, it doesn't need to be a free box. You could go with two free gifts. So here's an example say you were running a kids craft subscription. One offer could be double your first box. We've done that in the past. It essentially works like this you send out the first box and it has double the items in it. It's a really great way of clearing stock as well. So that could be one offer. And the second offer could be sign up and get a free extra craft in your first box and it's a specific craft that you mention and market. And then, if both of those work and you feel like you're hitting the wall and you want to get more people in, come up with another offer. Maybe it could be 50% off the first box, and if that works well and you want to keep adding to it, you could do another free gift. It could be another specific craft project or a different item all together.

Speaker 2:

The point I'm trying to make is get creative, because this can really help you attract different kinds of customers and help you scale up. If we were just running one offer at the moment, I don't think it would have been possible to get as many people signed up as we have in the last few weeks. Now, just while we're on this subject, I want to mention something because I get a lot of people reaching out to me all the time asking how do we run different offers at once? We are on Subli and they make this really really straightforward. So each offer will have its own sales page and its own unique URL, and each offer on those pages will have their own unique plans, and you can also use Subli's tagging system as well if you want. They make it really really easy. So, yeah, if you're on Subway, it should be really straightforward to run multiple offers at the same time.

Speaker 2:

I hope this episode was helpful. We'll be back next week at the exact same time. If you have a question that you want answered on the show, as always, head over to subscriptionboxresourcescom, join the free facebook group and post your question there. Most likely over the next few weeks we will keep talking about marketing stuff. I will share things that make a difference and will actually help you.

Speaker 2:

No fluff, no theory, no theory, no rubbish, just real things that have worked for us or I have seen work for other companies and I'll share them with you so you can hopefully take lessons from it and apply it to your own business and hopefully get a lot of people signed up this Q4. Now can I ask a big favor? If you've been listening to this while and you've got value from it and you feel like you're actually learning things, would you mind giving me a review? This can be on Apple, it can be Spotify, whatever you listen to podcasts on, it doesn't matter. It just helps me get this podcast out to more people. Thanks very much and chat to you next week. Bye, bye.