Hi there, Iâm Richard, and welcome to Beauty Business Journal, a community for entrepreneurs, indie founders, marketers, and industry professionals. Every week I address reader questions about marketing, digital, growth, strategy, and anything else thatâs stressing you out in your business. Send me your questions and in return Iâll share actionable insights and advice. đ
Q: Iâm aiming to launch a subscription business in Q4 this year, itâs B2C and in the vegan, clean beauty space. What are the most important metrics I should track once I launch so I know Iâm on the right track in terms of growth?
Regardless of if your business is B2B or B2C, the subscription business model is booming. Consumers are craving convenience and reliability when it comes to accessing their favorite products or trying the hottest new trends.
While the last 18 months have led to a dramatic rise in online shopping and restrictions around product sampling, businesses at the same time have had to cope with continued disruption from extended lockdowns and scramble to find new revenue streams.
The beauty industry has fared better than most. AÂ report fromÂ Royal MailÂ forecasts theÂ value of the subscription box market to grow 72% by 2022, and data from across the globe appears to agree.Â First Insightâs recent surveyÂ on subscription boxes reported that 25% of American consumers (both men and women) are currently receiving a subscription box, and another 32% of respondents plan to subscribe in the next six months.
While brands gain predictable revenue and greater opportunity to build customer loyalty, customers have the convenience of receiving products and services on a recurring basis. For businesses it makes absolute sense, recurring revenue is very powerful. Instead of beginning each month at $0, in theory you begin each month at the top of your previous monthâs revenue.
B2C subscription businesses…
What is Beauty Business Journal?
Ideas. Frameworks. Community.
Thought-leadership and marketing education for tactical executors, brand builders, and changemakers.
We help beauty industry marketers save time on research and share ideas on how to increase revenue.
A communityÂ to learn, grow and connect with industry peers.
Already a Member? Sign in here
(*or equivalent ÂŁ7/âŹ8 per month)
(*or equivalent ÂŁ72/âŹ82 per year)
Save 16% if you pay annually
When you join Beauty Business Journal, you get instant access to the following:
- Beauty Business Journal Community: This is a place to connect with other Beauty Business Journal members, ask questions, and get valuable input and feedback from peers.
- Processes/Frameworks: We share the most effective processes and strategies our team have studied and learned from over the years. Frameworks used by some of the most successful brands in the industry. Designed to help you create effective go-to-market strategies, build a stronger brand presence, convert more customers, improve ecommerce infrastructure â we share it all, so you walk away with actionable takeaways every time. (Think Charlotte Tilbury, Hero Cosmetics, Harrys, Beautyworld Middle East, etc.)
- Written Content: Instant access to over 3 yearsâ worth of thought leadership. We deep dive into the trends and topics that modern businesses are confronting daily.
- Our Weekly Round-Up Email: A newsletter packed with tips, insights and opportunities to build your business. Our weekly briefing, featuring agenda setting news & analysis.
- Ask Me Anything: We do open AMAs and then answer questions on the podcast.
- No Risk. No Commitment: Itâs $10. That’s the equivalent of buying two coffees a month. And, our aim is to deliver more value than youâd get from a course or event youâd typically pay 10-20x that for. Thatâs our goal. Plus, you can cancel at any time.
We’ve prepared an email script that you can send to your CFO.
Who is the Beauty Business Journal Community For?
The community is for strategic thinkers, tactical executors and brand builders who are building modern brands and seeking to understand changing market dynamics. Itâs a space to ask questions, start important discussions, and expand your knowledge.
Inside, youâll have access to the resources and community you need to become a better business operator.
Join thousands of members like you gaining the edge with Beauty Business Journal, from companies including:
What People Say?
Frequently Asked Questions
How Can I Get My Membership Paid For?
We wanted to make it easier to get your Beauty Business Journal membership paid for by your company if you arenât already. When you join, you’ll get a template that you can send to your manager or CFO so you can have your company expense your membership.
Our pitch to you (or your manager) is that if this membership can help you make one better decision each year, itâll pay for itself. And if it doesnât, you can cancel anytime.
Can I Buy A Subscription For My Team?
Yes! Please fill out the formÂ here.
Can I Give A Subscription As Gift?
Yes! PleaseÂ visit this page.
Can I Switch To An Annual Plan?
Yes! Just go toÂ your account pageÂ and select the annual plan. You will be charged immediately, and your plan will be extended a year from your existing expiration data (for example, if your monthly plan is set to expire on October 31, and you switch to an annual plan on March 15, your expiration date will be extended to October 31 of the following year).
Do You Have A Student Discount?
Beauty Business Journal is purposely kept at a low price â thousands of dollars less than other publications or newsletters â to ensure it is accessible to everyone, including students.
How Do I Cancel My Subscription?
Weâd hate to lose you, but you can choose to deactivate your membership in your member profile. You can enjoy Beauty Business Journal for the duration of your membership, and it will be cancelled when it expires. If you cancel, there are no refunds for your existing subscription.
*Subscriptions are non-transferable. Login details and any Beauty Business Journal content may not be shared or reproduced. Please note that all subscriptions auto-renew monthly/annually (but can beÂ cancelledÂ at any time). To give Beauty Business Journal as a giftÂ click here. If you are interested in ordering and managing multiple subscriptions for your team or company, please fill in the formÂ here.
Updated December 2022