There are several great reasons to start your own monthly subscription service. I’ve mentioned 5 mistakes to think of when starting your own creative subscription service and 4 advantages of having a subscription service as a part of your creative business. You might want to start one to grow your audience, make more money, and expand your business. But before you jump right into this new business venture, there are three important questions you need to ask yourself.
Question #1: Is this is a profitable area?
It doesn’t matter if your subscription service is the best idea ever if no one is willing to pay for it. You don’t have to spend six months researching an audience in order to figure this one out. Just look around. Are there other products that are selling well in the area you plan to build your subscription service on?
People are often looking to receive a regularly monthly shipment when it comes to fabric and other craft supplies, we can see many examples of this when looking at a variety of online quilt shops.
Question #2: Is this subscription site going to interest my existing audience?
Many creative business owners that launch a successful subscription have already built an existing audience. This is essential because you want your existing readers and subscribers to join your new membership site. Don’t launch a subscription service for knitters if your primary audience is quilters. You’ll only confuse your followers and overwhelm yourself by serving two different audiences.
Question #3: Is this a recurring need?
You want to build an audience that consistently needs what you have to offer. It’s okay if your product seems pretty basic – so is toilet paper but people still buy it each month. Remember if your audience doesn’t need or want to use your product each month, then it might be hard to generate sign-ups for your subscription service. The newest fabric is a great place to start with a subscription club, but so is something basic like solids or charm packs.
If you have an idea for a subscription site, then you should carefully evaluate it by asking the questions above. A great guide that will teach you how to start your own subscription site is Little Monthly Payments. This step-by-step resource shows you how to generate an idea for your subscription service and implement it.
For the month of February, you can save $30 on the course by using the code SAVE30BUCKS! Let me know what your idea is, I’d love to support you!