The subscription box industry is no stranger to using discounts for customer acquisition strategy. Ideally, a new subscriber is incentivized to try a new subscription box by a discount. They fall in love with the product and become a loyal customer.
It doesn’t always work out that way. The truth is, the market is chock full of box subscription companies. Most offer similar first-time discounts or free trial deals. There’s always a new, better deal to focus on. Subscribers hop around from one free trial to the next. So how do you gain and keep subscribers’ attention?
Digital subscription companies like Headspace and CBS All Access are trying a new customer acquisition strategy: exclusive promotions. These gated offers attract specific, high-value subscribers based on affiliation (like military or teachers) or life stage (like seniors or students). The deals’ exclusivity and personalization keep subscribers invested.
Here are three exclusive promotions that’ll help your subscription box rise above the noise.
01 The Limited-Time Promo
Giving young subscribers like students a price break on their recurring subscription fosters customer loyalty over time. In fact, one digital subscription brand found that 98% of students who used the gated offer converted to paying full price after graduation.
02 A One-Time or Seasonal Promo
According to a recent customer acquisition survey by WBR, almost 70% of Americans say exclusive promotions are more important than traditional deals meant for everyone. So next time you put up a 10% off promo, consider gating it to a target segment—including teachers, military, or students.
03 A Free Product with Purchase
Because really, who doesn’t love free stuff? Giving a target audience a little extra something in their box makes them feel special and makes the box more personal.
Adding exclusive promotions to your customer acquisition strategy can increase conversions by as much as 3x, and generate ROIs as high as 20:1. Excellent news for subscription box companies like yours.