Every week we will take a deep dive into a business and share with you some of their marketing & business strategies that helped these businesses scale.
In Episode 9, we dissect into FabFitFun’s business & marketing strategy.
The company started in 2010 as an online magazine, similar to SELF Magazine, Cosmopolitan, & Pure Wow with 3 Co-Founders backing it up. Within 3 years they have grown an amass following through their content deliverables and strategy & decided to launch a subscription box that mimicked the “goody-bags” that you would receive at brand-sponsored events / Fashion Week etc…
The subscription box contains $200 worth of lifestyle products for $50 per quarter — this was a huge value for the consumer. In 2018, it was reported that the company crossed the 1 million subscription members & generating well over $300 million in revenue. We took a deep dive into some of their previous & current marketing strategies that you can start implementing into your eCommerce strategies as well.
ABOUT MATT SKOPAK:
An adventure and fitness addict with a passion for entrepreneurship and numbers. Lead Investor in Sweetberry Bowls and CFO of Sugar & Kush CBD. Rutgers MBA 2020 in Entrepreneurship & Accounting
ABOUT SEAN AZARI:
In 2015, Sean launched a creative ad agency called Breakthrough Social specializing in content creation & distribution, marketing campaigns, & paid media that helped brands build awareness and drive sales. Prior to starting his agency, Sean worked in finance for 4 years as an Investment Banking Analyst at Credit Suisse & studied Mathematics & Statistics at Rutgers University.
Connect with Sean:
Timestamps
- 1:37 Provide/Create Products That Align With Your Customers. You really need to understand who your customer is & use tools to segment them into categories such that you can create products that support their needs.
- 3:26 Why You Should Build Up An Audience Before Launching Your Product or Service. FabFitFun originally started out as an online publishing company for 3 years before launching its subscription box. They built an amassed following of mainly women by providing value through massive amounts of content that related to that specific audience.
- 5:20 Identify A Brand Voice & Stay Consistent With It.
- 6:30 Leverage Facebook Creative Tools To Test Different Ad Formats. FabFitFun lowered their CPA & gained new members with a new campaign they did using Facebook’s Canvas Template [Collection Ad].
- 8:22 Increase Your Revenue By Adding Additional Revenue Streams For Your Business. Identify New Ways To Increase Your Bottom Line. FabFitFun increased its revenue stream by introducing Flash Sales with products that aligned with their customer’s interests.
- 10:24 How You Can Add More Value To A Commoditized Product. FabFitFun takes $200+ worth of products and offers them for only $40 per quarter. How? Mostly due to leverage. They have such a strong following that they can partner up with great brands that align with their customer & provide the brands with tons of exposure in exchange for their product. A lot of businesses can implement a similar strategy by offering a valuable eBook & other creative ways depending on who your audience is.
Very good article. I will be dealing with a few of these issues as well..