Well, we're about to send out our 3rd month of Book Boxes.
When we launched on February 6th we had no idea where we'd be in two and a half months. I remember thinking at the time that I hoped we could gain 3 subscribers per month.
I'm happy to report that while we still can't quit our day jobs, Crime Fiction Subscription has grown to almost 50 subscribers. Thank you to everyone who's joined in the last two and a half months, you've literally helped build this and we can't thank you enough.
Now, onto a few updates:
We've been slowly finding better suppliers, which has been harder than you'd think.
Before starting this I wouldn't have believed the price of customized boxes, let alone the complete lack of customer service from several of these companies. It says a lot when Amazon feels more personable than a local supplier.
We will continue our hunt for customized boxes that you would traditionally see in a Monthly Box company.
As always, shipping eats into our margins more than any other cost, making it extremely important to get this right.
This month we're using the Shopify Shipping service (which is routed through Canada Post) and although it appears to be a tiny bit higher than our Small Business Account offers with Canada Post, the ease of doing it all in Shopify for about a nickel difference per item make it worth it.
Special shout out to those two, as well as UPS, for always coming through.
We sent out first email. Two actually. One went to people who signed up with their emails on our site and had not purchased a Book Box. The other went to current subscribers.
I was a bit nervous, as we hadn't sent one before to our email list in the previous 2.5 months. However, it was definitely worth it as we were able to make 3 sales based on those emails. While we won't be going 2.5 months again between emails, we definitely won't be going more than once per week.
This has definitely been the toughest part. Weighing at what price a customer will feel value vs the need to hit certain margins to be sustainable. In the beginning, I think I changed the prices every few hours if we didn't make a sale. Now? I think I can make it a week lol All kidding aside, I've sinced found out from other Monthly Subscription Box owners that this is a problem for everyone, which makes me feel a bit better.
The only thing I'm still considering at this point is a change in the main book box. Going from 2 books for $29.99 to 3 for $39.99.
It drops the price per book for the consumer and it increases our profit margins, which in the long run will need to be done in order to remain sustainable as we scale. Before we make a change like this, we will likely do some Social Media/Email polling.
That's all for now, thanks for reading and have a good day!
P.S. Don't forget to subscribe!