Preparing Your Business for the Holiday Season

Preparing Your Business for the Holiday Season

Presented by: Jesse Richardson

Learn more about the presentation: subscriptionschool.com

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Cratejoy Knowledge Baseforum.cratejoy.com

Overview:

• Why do the holidays matter so much?!

• Additional Revenue Opportunities

○ Gifts, Bonus Boxes, the Marketplace & More

• Fraud & Holidays

• Getting Started

The Holidays: Why do they matter?

Well, for one, Google Trends on Subscription Boxes can tell us.

The Holidays: Why do they matter?

But it’s not just about Subscription Boxes:

● Cyber Monday surpassed $3B last year ● Last holiday season, more shoppers went online than to stores over

Thanksgiving weekend, which is the kickoff to the busiest shopping period of the year.

● Digital sales are expected to hit $94.71 billion this Christmas period, according to research firm eMarketer.

● That’s a milestone: That would take e-commerce’s share of total holiday season sales past the 10% mark for the first time.

Part 1: Ideas for Holiday Promos

There are a ton of promotions to be

running during the holidays.

● Gifts

● Holiday Bonus Boxes

● Gift Guides & Box Roundups

● Email Optimization

● Website Optimization

Idea #1.a: More gifting!

Gifting should be a top target during the holiday season.

When optimizing gifts, think about how you provide the option to a few different segments of customers:

● Existing subscribers -- They love your box, and want to refer the service to others!○ Dedicated email that encourages a gift sale.○ Account login pop-up CTA

● Existing Unconverted Leads -- Giving themselves or a friend/family member a non-renewing gift of something they're already interested in○ Dedicated email (special discount, bonus item or something else)

● New Leads & Prospects -- There are ton of shoppers looking for great gifts. ○ Marketing automations, special discounts & partner campaigns

Idea #1.b: More gifting!

There’s a problem with most gifts though… they don’t renew!

To curb the problem, consider:

● Limited to 3, 6 or 12 month gifts● Collecting giftee emails & developing a unique lead nuture &

email campaign that takes place AFTER the gift has ended● Create special promos & discounts for giftees once their trial

has ended● Collect data from them - what did they like? - then reward

them with something (bonus item, discount, etc)

Idea #1.c: More gifting… on the Marketplace!

The Marketplace at Cratejoy is the Amazon/Etsy of subscription boxes. We make it easy for people to discover amazing new subscriptions…. And that includes gifts.

● Gifting 3.0 is now live!● It’s easier than ever for people to checkout with a gift on the

Marketplace● You can decide: Always Renew vs. Never Renew vs. Let the

Subscriber Decide (recommended)

Reach out to [email protected] to get involved.

Idea #2: Holiday Bonus Boxes Holiday bonus boxes are excellent opportunities to boost bottom line revenue. They are be marketed to existing subs for more share of wallet AND marketed to existing & new leads as a low-commitment alternative to a subscription.

How to do it:

1. Choose a special theme (holiday or season centric)2. Curate a unique set of items3. Optional: Choose a new price point!

a. Special branding, special box, special inserts.

Read a great guide: http://jamesonmorris.com/how-to-run-a-holiday-bonus-box-promotion/

Idea #2: Holiday Bonus Boxes (examples!)

Idea #3: Gift Guides & Holiday Promo ContentOutside of more revenue via gift & bonus box sales, there is a big content push you can get involved in during the holidays… and it’s starting now!

1. Identify gift guide & round-up partners2. Determine cost (if any) and coordinate

reviews 3. Double check timelines -- spin up

promotions alongside publishing dates to make the most of your traffic

Idea #4: Email Optimization

You might not convert all your leads upon first arrival to your website.

That’s okay. You can 1) Capture them through opt-ins and 2) Create a unique seasonal lead nurturing automation & theme your messages around revenue goals.

1. Set up new lists in Mailchimp2. Create unique Automations3. Add seasonal & holiday elements4. Add CTAs for bonus boxes/gifts!

Idea #5: Site Optimization

Site optimization should always be a goal, and during the winter season, you can test new colors, themes & opt-ins throughout your site.

● Add seasonal colors & thematic elements● Seasonal opt-ins or popups● Seasonal lead-gen opportunities (special giveaways, gift alerts, etc)

Part 2: Things to be Aware Of

The holidays aren’t all jolly...

Worry #1: FraudFraud is always an ongoing issue.

During the holidays, it can be more pronounced.

Cratejoy is pretty good at catching fraud (there’s a notice).

Be diligent -- look at transactions, watch names & ensure people aren’t gaming your promotions.

Worry #2: Churn

Churn is the rate of attrition -- the rate at which people cancel their subscriptions to your business.

● Generally, healthy subscription businesses see around 9% churn. ● During February & March, you may see 3-7% higher churn rates than

normal.

Note: Gifts subscriptions are not included in churn! This extra churn comes from subscription, holiday splurging & mis-ordered gifts.

To combat this, make sure you have an automation & special promotions for incoming churn in those coming months!

What are you waiting for?

Assignment: NEXT TUESDAY!

• It’s October 18th. By Oct 25th, you should...

• Decide on a holiday bonus box - yay or nay?

■ If yay, create a schedule & stick to it

• Develop holiday promotions & email marketing ideas

• Optimize lead capture, website & automations

• Get involved with Marketplace Gifting!

• Next up… boost your revenue this holiday season!

How it Works: Setting Up Your Listing

Setting up your listing is super easy. Like really, really easy!

Q+A

Add some questions to the right panel. Let’s chat!

Action Item Reminders

Recap: The holiday season is a huge

opportunity.

1. Identify extra revenue sources

(gifting & bonus boxes)

2. Identify press opportunities

3. Optimize site, opt-ins & emails

4. Get on the Cratejoy Marketplace