How to sell gift subscriptions on your online store
During the holiday season, people are on the hunt for lovable gifts. Something that stands out and really make the gift reciever's eyes light up.
But as an ecommerce merchant, you’re probably thinking "what unique products can I offer that people will want to buy as gifts?"
Well, how about offering…
For Christmas, my mom used to always get all her nieces and nephews subscriptions to their favorite magazines. That way, they basically got a present every month!
With a gift subscription, you can let customers buy a present that's delivered at a set interval for however long they want.
Giving your customers the option to purchase a gift subscription box for someone on their list could help your store stand out this holiday season.
Best of all, it’s super easy to set up, and easy for your customers to buy.
You might be wondering how offering gift subscriptions will benefit you.
If somebody receives one of your subscription boxes as a gift and loves it, they’re likely to subscribe themselves once the delivery period is over.
So let customers share how much they love your products with others, and make recurring revenue while you're at it!
How customers can buy gift subscription boxes
When they've found a perfect gift, your customers just need to select the ‘prepay’ option and choose the length of the subscription they’d like to purchase (e.g. one, two, or three months), and check the “gift” box.
After that, they'll simply continue through the checkout as normal, but just need to make sure they enter in the recipient’s shipping address so the gift goes straight to the right person!
Even though the billing address will have the customer's information on it, entering another person’s shipping information won’t affect the order in any way, it just means that the the customer is paying for it but sending it somewhere else!
Plus, with a prepaid gift subscription, the buyer won’t have to worry about cancelling — their loved one will receive the subscription without any hassle.
It's that easy!
Test it out for yourself on our demo store.
Want to know more about gift subscriptions?
Here are some reasons why subscriptions are a great gift, for both you and your customers:
- Monthly. Recurring. Revenue.
- They're unique and make for a cool gift
- People love getting packages in the mail!
Monthly recurring revenue (MRR)
With subscriptions, you’ll be making recurring revenue each month as long as your customers stay subscribed. They’re truly the gift that keeps on giving.
According to Forbes, subscription boxes have grown in popularity very quickly; over 800% between 2014 and 2017!
CNBC reported that the meal subscription service Blue Apron made $196.7 million in revenue during the first quarter of 2018. This shows that subscriptions have big potential.McKinsey did a study in November 2017 that found 30% of a store’s revenue comes from repeat customers. That means brand loyalty and a ton of extra revenue for you!
Who wouldn’t want to give a unique gift?
Gift subscription boxes make for awesome and creative gifts, and depending on what your store offers, you could be providing customers with presents for almost everybody on their list!
Think about it: toys or books for kids; small-sized perfumes for her; grooming products for him.
During the holiday, people are likely going to be looking for gifts to purchase online to avoid the bustle of malls. With that in mind, you might consider targeting shoppers by suggesting gift ideas on your store (and promoting your subscription boxes).
Excitement about getting a package in the mail
Think about the last time you got an unexpected gift from somebody, or even a package you paid for yourself, but that took you off guard by coming in earlier than expected.
How did you feel? Probably surprised, and excited!
When we're surprised, our emotions can be intensified by up to 400%! Meaning that thoughtful gift subscriptions you’ve sent your friend will leave them feeling elated.
By giving your customers the ability to send gift subscriptions, you'll give new customers that excitement about your brand every time their gift comes to the door.
How to set up your gift subscription
If you’re ready to offer gift subscriptions on your store, install Bold Subscriptions, then follow these instructions to give customers the option to prepay for a subscription for somebody on their gift list.
It will also expire after the elapsed time period they select, so they don't have to worry about cancelling it!
With the added option to offer a discount to customers who prepay for subscriptions, you can offer a bigger discount for the longer they subscribe.
For example, offer a 10% discount with a 2-month prepaid subscription and a 20% discount for four months. This gives them an incentive to spend more in the long run.
Let's wrap this up
Want to increase your order value even more?
Add a gift wrapping option! If a customer is sending their subscription gift right to their loved one's home, they're not going to be able to jazz it up with pretty wrapping paper.
Find out exactly how to offer gift wrapping on Shopify with our Product Options app, it's really easy!
Now that you're equipped with the knowledge of how to offer gift subscription boxes on your store, you can sit back and watch your customers reap the benefits, while you see a flood of new customers and increased revenue this holiday season.
Want to know more about recurring subscription boxes? Find out how to set up a Shopify subscription box and grow your monthly recurring revenue.
Have you offered a subscription on your store before? Let us know in the comments below what products you sold!