Hi there, it’s Rob! 🙋♂️
Thank you for joining me. This week we look at paid subscriptions for independent small businesses, like shops, restaurants, and service providers.
The average American juggled 6.7 subscriptions in 2022, up from 4.2 in 2019, according to Rocket Money, a personal finance app. This from a recent Associated Press article.
Whether it’s toilet paper (Who Gives a Crap), laundry and household cleaners (Dropps), outdoor clothing and equipment (REI Co-op), Community Supported Agriculture (CSA), or Amazon Prime, paid subscriptions are a (big) part of most of our lives.
Welcome 👋
A hearty welcome to the new people joining this week.
Let me know what you think of your first issue. Replying helps Google realize it’s not spam.
Now let’s get to it.
Independent Small Businesses 🚀
For independent small businesses finding more ways to increase revenue and customer loyalty in today’s market is essential. A paid subscription service is one way to achieve this. A subscription also allows customers to express support for the businesses they value and want to succeed. You scratch my back, I’ll scratch yours.
Increase Revenue 📈
By offering exclusive perks to subscribers, businesses provide an incentive for customers to spend more money (gain more value). In addition, the recurring monthly or annual subscription revenue can provide a stable source of income for businesses, helping to offset fluctuations in sales and manage cash flow.
Increase Customer Loyalty 🤝
Exclusive perks enhance and add value to the customer shopping experience. This leads to increased loyalty. Customers will come back again and again to not only make future purchases. They will come back to revisit the experience, get the “warm fuzzies”, and feel special. And it is no surprise that satisfied subscribers will recommend the business to others, helping to drive new revenue. Happy, satisfied, connected subscribers will become advocates (raving fans).
Increase Connection and Understanding (Personalized Marketing Opportunities) 🔬
Valuable customer insights can be gained by getting to know customers, connecting with customers, and by collecting customer data through a subscription service. This information can help a business personalize communication and marketing efforts, and tailor their offerings to more closely meet the needs of their customers. A personalized customer experience can increase satisfaction and drive loyalty.
Ask Questions ❓
And what’s next? Ahh, the hard part and the fun part. The WORK. Determining the perks and benefits that will be offered to subscribers and how they will be provided can be a most difficult task. At the same time it can be most rewarding. There are a number of ways to get started.
Contact the best customers directly (face to face or phone)
Administer a survey
Research what others businesses are doing
Perks and Benefits 👑
Now for the fun part - coming up with ways to delight customers! Below are ideas I think most suited to independent small businesses and could be adapted for other organization types. Let these serve as inspiration. ⚡
Subscription pricing
The options here are one-time fee, yearly, or monthly. The choice can depend on the type of business and how often customers make purchases. For restaurants, yearly or monthly would make sense. For specialty retailers, a one-time fee or yearly fee would work. In any case, offer a full refund if not satisfied (no questions asked).
Money-back on purchases
Tracking customer purchases is easier than ever. Give customers a percentage back as a thank you.
Side note: Tracking purchases also let’s you see who is spending the most or who is no longer spending as much. Reach out to customers in both situations to see what is working and what may not be working.
Early access to curated or limited-edition products and services (member collection)
I believe this is an area where a business can go bananas with adding value.
For a restaurant this could be inviting subscribers to taste new food and drink before it appears on the menu.
For an apparel shop this can be creating unique, one of a kind items only available to subscribers. Giving subscribers input on the product mix. Let customers play a part in picking the colors, styles, and flavors for the new season.
Menu and pricing
Subscriber-only menu
Unlimited hot and cold drinks
A $100 monthly subscription entitles the customer to $125 of dining credits
One free takeout meal per month
Free delivery
Gift a free drink to anyone at the bar
Exclusive experiences
Personal shopper
Private shopping hours during the holidays
Early access to new product shipments and seasonal offerings
Chef-led cooking classes
Demo days (skis, bikes, shoes)
Tasting times (food, beer, spirits)
Service subscription plans
Auto, bike, home, garden, hair, nails
Resources ℹ️
Retailers That Are Boosting Sales With Subscription-Based Shopping
Michelin-Starred Restaurant In DC Launches Subscription Service
Your Turn ✍️
How would a paid subscription work for your business or organization? What would it include? What effect would it have on your relationship with your customers?
Let me know. Leave me a comment. Reply to this email. I’d love to hear from your.
Talk to me, Goose! 🗣️
Got feedback? Use the Comment button below (or reply to this email). I’d love to hear from you. Which tech tool is your favorite? What do you want more or less of? Other suggestions? Please let me know. Leave a comment with all the juicy details.
Share with a friend 💌
If you enjoyed reading this issue, please share with a friend.
In case you missed recent posts 📰
📲 Local Search: You Control 91% of Post-Review Customer Journeys
📧 Email: Past, Present, and Future/Writing/Organizing & Optimizing
🤖 Google Business Profile, Delete Online Accounts, AI and ChatGPT
🗄️ Visit the archive
Mission 🧾
To provide valuable, actionable information about tech tools to small business owners, entrepreneurs, and organization leaders. I’ll look for the tastiest morsels of useful news and notes to share while you focus on the success of you, your business, your organization.
Until next time.
Take care and be well,
Rob
Tools used to create this post
Notion (information gathering)
Substack (newsletter publishing)
Emojipedia (yes, emojis)
Google Chrome (Internet browser)
Feedly (news reader)