049: Subscription Box Predictions with Paul Chambers

Launch Your Box Podcast with Sarah Williams | Start, Launch, and Grow Your Subscription Box

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2+ y ago 1:01:10

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I LOVE talking about all things subscription box. It’s what I do here on the podcast every week and all day every day inside my Launch Your Box membership. But today… today is special.

Today I got to sit down and talk to my friend Paul Chambers, the co-founder and CEO of SUBTA, the Subscription Trade Association. Not only does Paul bring 20+ years of subscription box knowledge and experience with him, he’s also a super nice guy who just happens to be a big fan of Launch Your Box.

I invited him to the podcast to share his predictions about what we can expect in the subscription box industry in 2022 as well as some subscription box best practices.

Paul’s subscription box journey started when he became a partner in Gentlemen's Box, a monthly subscription that provided accessories for well-dressed, professional men who lacked the time to shop for themselves. Paul learned valuable lessons along the way, grew the subscription into an extremely successful business, and then sold it.

It was during this time that Paul and his partners were seeking out knowledge and community within the subscription industry. To their surprise, they found there were no conferences or other large networking and learning opportunities. This led to the founding of the Subscription Trade Association (SUBTA) in 2017.

Paul shared his predictions for 2022. He expects to see continued growth in subscriptions as the need that drove incredible growth in 2020 settles into new habits driven by consumers’ ongoing desire for convenience and accessibility. He also wants us to keep our eyes on new trends in tech. Rather than being intimidated by technology, Paul encourages small business owners to consider the possibilities and look for opportunities to expand subscribers’ experiences.

For 2022 - and beyond - Paul encourages subscription box owners to:

Add opt-in text messages as part of the customer journey.
Take advantage of Tik Tok’s popularity to market your subscription.
Use new technology for churn, upselling, data, and more.
Establish strategic partnerships.
Use first-party data to better understand your consumers’ behavior.
Optimize your content creation.
Use your data to personalize your subscription offering.
Give more power to your consumers when it comes to managing their subscriptions.
Focus on retaining your current subscribers.

We also talked expansion revenue and strategies to capitalize on current subscribers as a source of additional revenue. Your engaged audience has an appetite for more from you. Give it to them!

Consider:

Creating limited edition or one-time boxes.
Add an option to add complimentary pieces to a current subscription.
Curate Mystery Boxes.

In June of 2022, Sub Summit - the incredible conference put on by Paul and the rest of the SUBTA team - is coming to Disneyworld! I’ll be there along with so many of my Launch Your Box members. I’d love to see you there! Learn more and register HERE.

There is so much to learn in this episode. Hear what works and what to expect from a true leader in the world of subscriptions. Grab a notebook and a pen and get ready to soak up what happens when two people who LOVE talking subscriptions share inside knowledge and tips that will help you continue to grow your own subscription box business.

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