It’s difficult to define what exactly are the key ingredients for a successful business. You need talented leadership and dedicated employees, a product or service that is sought after by others, a highly incentivized sales team, and of course a healthy marketing budget. There are many challenges facing a business trying to succeed today, from developing a workable business model, finding the right location, obtaining funding, talent management and more. It should not surprise that only approximately eighty percent of small businesses survive their first year in business, and by the second year of business only seventy percent are still around. Looking ahead five years, only approximately fifty percent are still open for business.
This makes the success story of the Book of the Month Club all the more remarkable.
Subscription e-commerce: A business model
Business magazines and online platforms advertise business marketing events all around the world. The best way to participate in these events as a speaker or sponsor is to plan well in advance and contact the organization hosting the event. In addition to marketing events, social media, online advertising and e-marketing have been launching platforms for many subscription-based businesses. These types of companies have become very popular, offering customers mystery merch boxes to shaving razors to beer by mail. These companies use a simple business model in which customers pay a subscription fee by selecting a certain frequency whereby they receive a product delivered to them at their home or office.
SUBCOM is one of the top marketing conferences with a goal to help those, regardless of the industry, develop a subscription-based e-commerce strategy. Experts go over how to successfully implement a subscription model that will increase retention, decrease spending, and drive high-profit margins. SUBCOM is the perfect conference to learn everything and anything about subscription commerce. There you might hear from Blake Orlandi, Book of the Month Club’s Chief Operating Officer, who has led the turnaround of Book of the Month Club from obsolescence to relevance for a new generation of readers.
While no single business model is right for every company, every product-based business should consider whether subscription-based commerce may be right for them. Business owners can all learn something from one of the experts of subscription-based commerce, Blake Orlandi, and how he and John Lippman, CEO of Book of the Month Club overhauled the sales and marketing strategy to help the company grow subscribers and turn a profit. This company has been helping book readers discover the very best books since 1926. The Book of the Month Club operates a monthly subscription program, where customers select one of five books recommended each month by a team of book lovers and editors.
Since Blake Orlandi joined the company a lot has changed in the publishing industry. The Book of the Year Award, in which the finalists are chosen by the Book of the Month Club’s members has proven to be a great public relations move attracting the attention of the mainstream media and shining a well-deserved spotlight on new authors and the Book of the Month Club.