Empire builders, are you looking for ways to increase your ecommerce business revenue? Adding subscription boxes to your dropshipping business can earn you extra revenue. Read on to learn more about how you can build great subscription box offers that you can easily add to your dropshipping business.
How to Grow Your Dropshipping Business With Subscription Boxes
I have realized that many people who are starting out on ecommerce and dropshipping miss out on the opportunity to make extra money. However, having some kind of monthly program like a subscription box can help you get some free money.
Here is my advice on how to find and add these subscription boxes:
1. See How Other Businesses Build Great Subscription Box Offers
The first step is to do some research to see what kind of subscriptions are out there. Make sure you do not go too niche-specific — you want to get a lot of search results.
Research will give you great ideas and help you know what the actual offer is. The information you gather will come in handy when deciding what you need to offer to charge the kind of prices that others charge. In my view, you should not provide customers with too many options in terms of subscription. In fact, I would recommend a maximum of two options.
2. Focus on Value
Generally, people find value in the things that they enjoy doing. To get people to sign up for your subscription program, you have to make sure that you provide value. Tell your customers exactly what they will be getting for their money. Because people will always want more value in a box, you want to make sure that the value you offer outweighs what they spend.
We all have so many subscriptions to a variety of things and will remain on the subscription plan as long as we keep getting value. For instance, I am subscribed to a toothbrush company that sends me a new toothbrush with a battery every two to three months for about five to ten dollars. This saves me a lot of time and the trouble of having to think about it. When it comes to value, be sure to offer at least the average of what others in your niche are delivering to customers.
3. Focus on Simplicity and Functionality
As you work on adding subscription boxes, keep your offer easy and simple. A simple subscription plan will be less confusing to your customers and save you a lot of headaches down the line. Remember: confused customers never buy.
In the end, a clear message will also help you attract higher numbers. When looking at the different subscriptions that are available, you should compare them to find out who is giving the most value. When you’re working with an online retail service like AliExpress, make sure you find a supplier who will pack and ship it for you.
Pro Tip: Always Use High-Quality Images and Video
I always like it when businesses make proper use of images in their subscriptions. Images will play a big part in helping you show your customers what they will get when they sign up for your subscription plan. Try to use high-quality images to show them what is inside the box to raise your perceived value and come across as a valid business.
Another way to make the most of subscription boxes is to show people the experience of how it feels like to buy from you and open the box. You can do this by using images creatively and including an unboxing video that reviews the different products people will get. To create a high perceived value, I would suggest you get an influencer to create the videos for you rather than doing it yourself. Simply send the box to your influencer and describe the kind of unboxing video you would like for your advertisement.
When it comes to the subscription box game, you do not want to simply own a subscription box. These tips are actually designed for those who want to upsell subscriptions for growth. As an ecommerce empire builder, you should avoid selling subscriptions on the front end OR competing on price. Instead, focus on providing the value that your customers desire.
What to Know If You Are New to Ecommerce Empire Builders
If you are new to Ecommerce Empire Builders, I would like to repeat that selling your subscription on the front end can make it difficult for you to be profitable. Because you will be competing with many people, you may want to focus on getting that first “yes.” My advice would be to build out a funnel and have a great front-end product to get your first purchase before upselling the subscription. This way, you will make money from the first sale and also get monthly subscribers in a cost-effective way.
In summary, the first thing you need to understand is that people are looking for more value in a box. My advice to you would be to take time and look at different subscription boxes in your specific niche to get an idea of the value they are offering in the boxes. This information will help you determine how much value you need to build great subscription box offers.
A useful rule of thumb is to double the value or make it between $10 and $15 more than what they are paying to ensure that subscription boxes work for your business. Consider having your supplier send the packed products in a box so you can see the finished product for yourself.
Consult With the Pros
When you are ready to add extra revenue to your business through subscription boxes, you should consider joining the Ecommerce Empire Academy. Our platform is designed to equip you with the tools and skills you need to become a successful ecommerce entrepreneur. Sign up to access our exclusive free webinar. You can also check out our YouTube channel to learn more about subscription boxes in the dropshipping industry.