You will find subscription box models everywhere, across products and services. Book subscriptions are nothing new. Remember local book libraries?
However, with changing times, a lot has changed in the publishing and book industry. While many online bookstores offer subscriptions as it offers recurring revenue in the publishing industry, some subscription models stand out.
In this blog, we take a look at the Book of the Month subscription model. We breakdown its many features, and understand why it is so effective and why subscribers love it so much!
Read on!
What is Book of the Month subscription model?
Book of the Month is a subscription service for books. The monthly subscription fee is $ 17.99. This monthly book club subscription sends subscribers one book a month. The brand selects five to seven books every month. Of these books, subscribers can add one to their monthly box. The selection includes various genres and titles, from new releases, upcoming titles, and early book releases, among others. The brand ships the books within a week for free.
However, these are just the basic features and benefits of this book subscription. A more intense look at this subscription model offers insights into many more marketing strategies for the publishing sector and lessons on how to increase recurring revenue in publishing.
Book of the Month Subscription Box Model Breakdown
Starting from cost benefits to discounts to additional perks to easy cancellation and customer retention strategies, the Book of the Month has many effective features to talk about. Let’s go through each one, in this section.
1. The subscription model offers various genres
When planning subscription box models, brands have to ensure they cater to different segments of their target audience. Catering only to one or two segments may not be sustainable.
When it comes to books, there are many different genres. And when it comes to readers, there are all kinds, reading different genres. Book of the Month understands this well.
Its book club subscription offers books in many different genres, including thriller, mystery, contemporary fiction, romance, young adult, fantasy, and more. This ensures:
- Higher engagement
- Higher sales
- More marketing opportunities
- A large customer base
- Subscribers get to discover new book titles
2. Book recommendations for subscribers
Book of the Month has a section called ‘Members Most Loved’. Just like lifestyle brands display recommendations on their website, ‘Most Bought’, ‘Bestsellers’, etc., this book subscription also offers recommendations for books that are most loved by other readers.
Apart from this, the subscription website has many other recommendation sections. For example, there’s a section that lists currently popular books. Another section shows the most popular new titles.
How do these recommendations help?
- If subscribers don’t like the titles shared by the brand, they can choose from recommendations
- Subscribers do not feel bound with limited choices
- It keeps subscribers engaged as they can discover new titles to read
- It’s an effective customer retention strategy for the publishing industry
- It plays with customer psychology, making them feel that there’s a lot the brand has to offer and a lot they can discover
3. Personalization and customization
If subscription box models are too rigid and limited, it may put off subscribers. Everyone wants to have the freedom and flexibility to shop the way they want — studies show that consumers are willing to pay more for flexibility.
So, what happens when subscribers of the Book of the Month subscription box model want more than one book per month? The brand has incorporated personalization and customization features.
Subscribers can add one or two more books for an additional charge. They can choose these books from previous Book of the Month tiles. This feature offers flexibility, freedom, and enhances customer experience.
4. The subscription box model offers flexibility and freedom
Another aspect worth talking about is that members of this subscription box model have the freedom and flexibility to skip a month if they want to.
For instance, when subscribers are busy or traveling and do not want a book in a particular month, they can choose to skip that month. When subscribers skip, their credit gets forwarded to the next month.
This feature ensures customers feel comfortable signing up and do not lose money and continue their subscription for a long time.
Similarly, if subscribers forget to pick a book before a specific date, they are changed but the credit is forwarded and they can use it in the next month.
5. Gifting books made easy
Book of the Month also allows customers to gift books. Customers can choose a Book of the Month subscription of three, six, or twelve books for gifting. This feature is especially effective during the holiday gifting season.
The process of gifting a subscription is easy. Customers have to simply choose one of the three membership plans and make the payment in a few simple steps.
This process of gifting is hassle-free, convenient, and easy. No calls or follow ups; customers just have to follow a few, simple steps online.
This subscription box model sends the gift in three different ways:
- Print-at-home card
- BOTM gift card
6. The subscription box model is cost-effective
Customers can join the Book of the Month subscription club at an affordable rate. The cost of the monthly book club subscription is $17.99. However, new subscribers can get their first book for $9.99 by entering a discount code during checkout.
Most customers sign up for subscriptions for the cost benefits and discounts. Book of the Month offers attractive pricing for the subscriptions, making it easy for customers to sign up.
7. Other benefits offered to subscribers
Apart from benefits such as convenience and discounts, the Book of the Month subscription box model offers many other perks to subscribers. When customers get something extra, it enhances their experience and they tend to stay loyal to brands.
Here are some of those perks that keep their subscribers engaged and loyal and customer retention strategies you can try for your subscription models:
- A free gift with the first purchase
- A tote bag after the first year
- A free add-on during subscribers’ birthday month
- One free book from the top five ‘Books of the Year’
8. Easy customer support
79% of customers expect a self-service option when it comes to customer service. Self-service provides a better experience, as customers do not have to wait.
Book of the Month has a dedicated section on its website, for customer support. Customers can either search for their specific query via a few quick links, or click open dedicated sections that explain how the subscription box model works, information about charges and credits, and more.
9. Easy cancellation policy
For customers, subscriptions can be tricky. Many brands make subscription cancellation difficult. In other instances, customers end up paying fees because of direct payment debit systems without even knowing. With so many subscriptions floating around, subscription fatigue is something that eCommerce brands have to strategically deal with.
These are some of the main reasons why customers do not sign up for subscriptions easily. But Book of the Month has made it easy for subscribers to cancel subscriptions. Customers have to call them up and initiate the cancellation process. This adds value and flexibility, which mean a lot to customers.
10. It has a loyalty program for the subscription
The Book of the Month loyalty program is called ‘Relationship Status’. Through this integrated loyalty program, the brand recognizes and rewards long term subscribers with gifts and additional benefits.
For instance, ‘Friend’ status can be achieved once the subscriber purchases three boxes in a single continuous subscription. The ‘BFF’ status can be achieved when customers purchase 12 boxes in a single continuous subscription.
11. It offers a wide selection of books
Ecommerce stores have the benefit of catering to a wide customer base. And when it comes to books and publishing, customers’ interests can be varied. And that is something that the Book of the Month is ready to cater to.
The brand offers a wide variety of genres — thriller, history, young adult, true crime, memoir, romance, fantasy, horror, sci-fi, and more. The brand also offers audiobooks – an excellent example of how brands need to adapt and tweak their offerings with changing times and market trends.
Launch your subscription box model with Appstle Subscriptions
Membership-based eCommerce strategies are one of the most effective for brands that want to grow and scale. They are useful for increasing customer engagement, recurring revenue, loyalty, and profits.
However, to ensure seamless processes, you will require a subscriptions app for your Shopify store. Appstle Subscriptions, known to be one of the best subscription apps for Shopify, offers a comprehensive set of features and capabilities.
From set-up to marketing strategies, intuitive discounts, cancellation management, payment handling, and more, Appstle is a one-stop-shop for all subscription business requirements.
Explore and install Appstle Subscription on your Shopify store today!
