Have you heard of Bark Box? Birch Box? Dollar Shave Club? Amazon Subscribe & Save?
All of these "boxes" are massive business success stories of monthly boxes of tangible goodies that people receive via subscription:
Bark Box - a selection of toys & treats for dogs.
Birch Box - a selection of beauty products right to your door monthly.
Dollar Shave Club - men's toiletries and shaving products delivered monthly.
Amazon Subscribe & Save - anything you order from Amazon Prime can be set up on monthly auto-delivery for a savings.
Estimates are that the global subscription box market in 2023 was valued at over $31 billion. expected to grow to $36.8 billion in 2024, and then to $71.77 billion by 2028.
In the U.S. alone, this business was valued at over 15 billion in 2023.
Notice a common denominator of these companies?
They all feature tangible products in their boxes - manufactured tangible goodies.
We now know that the subscription business is headed strongly toward the service sector.
Already a number of forward-thinking accounting and fractional CFO and CMO firms are offering subscription-based programs.
But is there an attractive opportunity for you and your fractional/
consulting/ professional service firm with subscription boxes too?
Yes!
Here are 3 ways you can capture new business, gain incremental recurring revenue business with digital (non-tangible) products that are sitting right in your computer (but have never tapped into):
The Monthly Expert Bundle - A curated collection of premium digital tools and resources.
The Skills Accelerator -Monthly learning modules, digital "how to's" in video, audio, and PDF formats.
The Resource Vault Plus - A growing library of templates with proprietary insights and content.
And here's a Bonus Opportunity:
The Hybrid Box - a blend of 2 or 3 of these.
The beauty of digital subscription boxes? There are no shipping costs!
Prices can range from $50 - $199 a month or more depending on the target market and the contents of your "boxes" and the value provided.
You can offer different tiers of boxes and offer special offers throughout the year to serve your clients and keep them engaged.
You can even package services into the box such as diagnostic or coaching sessions.
Once you obtain your customer, the lifetime customer value (LCV) is high if the value provided is equally high.
The labor costs are very low, and the revenue starts to build exponentially.
What could you be boxing up to boost your service business?
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Nancy Fox is the CEO of Product WYZE™️, guiding consulting & fractional exec firms to grow and scale by developing recurring revenue & subscription productized services - signature systems, playbooks, courses, books, webinars , and customized networking plans. To learn more, book a custom WYZE Discovery Call.
