How to Retain Monthly Subscription Box Members
Monthly subscription box services can be hugely beneficial to keeping a business or brand stable. The monthly income through loyal subscribers provides a reliable starting point for your budget and boosts your marketing strategy by giving you access to a niche market. Unfortunately, unless customers are in it for the long run, each month’s success could vary. If you are seeking stability for your subscription boxes, here are eight helpful tips for retaining your members.
8 Ways to Retain Monthly Subscription Members
One of the major reasons customers cancel their subscription box memberships is dissatisfaction with renewal practices or recurring bills. Although recurring charges are part of subscription programs, some companies handle these charges more effectively than others. Customers prefer brands that send monthly invoices rather than those who bill the members’ credit cards directly. Transparency allows customers to avoid falling into the “out of sight, out of mind,” money-spending habit and creates a more positive business relationship between them and you.
Providing rewards for customers who stick around encourages them to stay subscribed even longer. Some subscription box services offer rewards such as points toward future purchases or a free item for each new shopper a customer brings to the brand. By offering customers a reward for friend referrals, you can lower the costs of acquisition by targeting people within your own customers’ networks. Talk about free marketing!
Everyone likes rewards, and incorporating them into your subscription service can be as simple as setting up a points system. When a customer gains a certain number of points, send them a small gift or a one month upgrade. If you want to make your customers excited and happy, provide random gifts as well. Every so often, throw in a free month of service. Customers nowadays are more likely to review or share their experience with your brand with their social media networks, and you can gain a lot of exposure for going the extra mile to show your customers you appreciate their business.
Offer Incentives for Longer Subscriptions
Another way to lock in your customers is to provide discounts for longer subscriptions. For example, if you are an organic juice and snack retailer, provide customers the option to subscribe for a six-month or per-year plan. Display a breakdown of their monthly savings the longer they commit to your service, and many customers will follow through. When you offer incentives like these, customers see that you appreciate their business, and the savings increase the likelihood that they will stay on for the long term.
Use Effective Marketing
You can market your monthly subscription business through e-mail, direct mail, and social media. There are endless benefits to using a direct mail strategy to boost awareness of your subscription box business. When properly executed, direct mail marketing can augment an online marketing strategy and, in many instances, outperform it.
Working with a reliable agency, you will be able to access over 70,000 relevant business and consumer lists to get your brand out there and develop new leads. Don’t assume that digital marketing is the only way to go—stick to what strategies are working for your competitors and get ahead. Effective marketing may also mean offering additional accessories to your regular subscription box items. For example, a subscription box service for organic hair products can offer to include an extra comb and clip set for a few dollars, encouraging the customer to see its value and personalize their shopping experience.
Good Customer Service
If you want your customers to stick around, consider ways to boost their experience with your customer service team. This might include providing incentives for customer service representatives to inspire them to provide their best-quality service. A great option for an incentive would be to offer bonuses to staff who quickly resolve customer queries from one phone call. Some companies use post-service surveys and have the customer rate their experience based on a scale. Employees who perform well can be given a bonus.
Going above and beyond your competitors is one of the best ways to keep your customers with you and gain more prospects. Instead of simply providing items to your subscription members, add in helpful tips for use or educational information about the product. It helps the customer feel even more confident about their purchase, and having a guide on how the product is used and what its benefits are will keep them coming back to your line of products when they want more. Lifestyle brands such as skincare products and makeup can include a small card with the delivery that contains a link to an online video blog explaining how the product can be used and applied. This personalized experience builds a stronger relationship with your business and your customers.
Loyal customers tend to stay with companies that make an effort to get to know them. It may sound time-consuming, but even the illusion of a personal relationship will go a long way. For example, the waiters and waitresses in food service who bring tables extra complimentary treats can greatly increase their tips. It doesn’t matter if that waiter or waitress does this for every table, because each customer feels special. Likewise, if a subscription service offers different levels of service or subcategories of products, customer loyalty rises when compared to those who only offer one package.
Not having a brick-and-mortar storefront does not have to be a disadvantage to your brand. Monthly subscription services provide customers different ways to relate to their business, such as keeping in touch with your customer on social media. Twitter is one of the best platforms that allow brands to connect with their fans and customers while keeping communications brief and simple. Simply dropping in to thank a customer for their purchase or responding to a question will go a long way.
Does Your Subscription Box Service Need a Boost? Let Macromark Help You
If you’re seeking a way to reap the benefits of loyal customers for your subscription box services, Macromark has the solutions and answers you need. We have access to over 70,000 relevant business and consumer lists to help you develop new leads. Whether you’re looking to target consumers or businesses through your direct mail marketing campaign, Macromark can provide everything you need and more.
As part of our direct mail marketing strategy, we will provide targeted business and consumer mailing lists to create a fully-rounded campaign to reach your ideal demographic. Our 30-plus years of experience and our extensive database of lists offer everything you need for a successful direct mail marketing campaign. Our services also include print media, direct mail marketing, list brokerage, data solutions, list fulfillment and list management. For more information about how we can help grow your business, contact us at 1-(845) 230-6300.