Building $10K in Monthly Recurring Revenue with a Digital Subscription | EP 138Oct 18, 2023
Have you ever thought about starting a digital subscription? Can you imagine what $10,000 in monthly passive income could do for your business? One subscription box owner has done just that with her Template Club.
I’m interviewing one of my biz besties on this episode. I’m so excited to have Tamara back on the podcast to share another way she has brought a LOT of revenue into her business by staying focused on serving her customers where they are.
Tamara has a very successful home decor business, specializing in door hangers. She teaches thousands of women all over the country how to paint door hangers. She also creates custom door hanger designs and cuts those designs out of wood. Not so long ago, Tamara decided (with more than a little bit of urging from me) to start a subscription box. The Big Box of Blanks - her quarterly subscription - was born and quickly became a huge success.
For today’s episode, I wanted to focus on another of Tamara’s offerings - her digital subscription, The Template Club. Tamara releases 5 new door hanger template designs every week. She noticed she had a LOT of customers who returned each week to purchase all of the new designs. In order to serve them better, she created a digital subscription - The Template Club. Members of The Template Club get all of the new designs each month for one low monthly cost. This is a win-win. Tamara’s customers save money and she benefits from recurring monthly revenue coming into her business.
At its peak, The Template Club had over 600 members. Currently, there are 350 subscribers. The reason for the decrease in subscribers is simple - The Template Club hasn’t been the main thing. It hasn’t consistently gotten enough visibility among Tamara’s other offerings. Her goal is to put more focus on The Template Club and build it back up over the next year.
One of the best things about Tamara’s digital subscription - and any digital subscription - is she creates the product one time and then sells as many as possible. Once the design has been created and released, the only thing left to do is automatically fulfill those orders. No packing, no shipping, no managing inventory. Digital subscriptions have a LOT of upsides.
Tamara’s biggest challenge is producing a large number of original designs every month. She solves this challenge by planning ahead and working with a team of designers. She has also worked through tech fulfillment challenges that necessitated a change in platform.
Tamara developed the door hanger template as a product in response to a problem her customers were having. Her desire to serve her customers and her willingness to create a solution to a problem led to a thriving product in her business creating and selling door-hanger templates.
Join me for this episode and learn how Tamara brings more than $10,000 in monthly recurring revenue to her business by focusing on serving her customers’ needs.
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