Subscription Box Scarcity - Should you create it?
Thinking of creating some 'scarcity' marketing around your subscription box? Here's how to work out whether it’s the right fit for your box.
This week’s Subscription Box Q&A question is from Sophie - and it’s a really interesting one around the scarcity marketing model; putting a cap on the number of people who can access your box and the amount of time they have to do it:
"I've seen people recommend doing a membership scarcity model around Subscription Boxes, where, for example, you would only open the doors for a certain period of time and then close the doors so people would miss out on the opportunity to join the subscription. I'm not sure about this. What are your thoughts?"
I love this question - and I've seen this model encouraged as something sub boxes should consider... but it's not for everyone.
Before we delve into the juicy stuff, what actually is the Scarcity Model?
Well, there are two types of scarcity:
True scarcity is when a product is in high demand but low supply.
Artificial scarcity is when a company creates scarcity to increase the perceived value / limited availability of its product and encourage sales.
So, there are a couple of key factors to consider here:
There might be practical reasons for why you're looking to make your box more exclusive, e.g., you make to order, so there's a genuine logistical need to close doors on a certain date.
Or... you might be thinking of it as a way of marketing. That can be tricky to get right - is it in keeping with the values behind your box?
Let’s go through both of these and find out whether this model is for you.
Watch this week’s quick 5 minute video (click on the image above) to learn more.
All my best,
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