Book of the Month. Shelf Life, Forever.
“Treat your shelf to a book subscription.” Book of the Month is a monthly book-based subscription service that provides their customers a fictional or non-fictional book of their choice for $14.99 per month, delivered right to their doorstep. Founded in 1926, this long-standing book service and social club has provided their customers with a selection of various books each month, vetted by their team of dedicated employee and celebrity panelists. According to their Facebook page, Book of the Month’s mission is to:
“…make sure you love what you read. For us [Book of the Month], there’s no greater joy than discovering a new book we can get totally lost in — and we want to share that with everyone.”
The premise of their brilliant blue subscription box is very simple and straight forward. Each month, five books are pre-selected by the service for subscribers to pick and purchase. Out of the five, they are allowed to choose one or more books to be delivered to them, with additional “add-on” book option if desired. In the event a subscriber doesn’t like any of the books offered, they have the option to skip any month at no cost. The company focuses on providing a selection of books that invites their audience to discover up-coming authors whose books otherwise may not have been the reader’s initial choice. With over 100,000 active subscribers (circa 2017), Book of the Month club has been able to provide their target audience with quality, vetted books month after month.
So, how does a company that started almost 100 years ago continue to survive in our modern era of instant digital downloads and the competition of big online retailers like Amazon? The answer: rebranding. In 2015 the company rebranded and relaunched their subscription boxes to reflect their new, modern target market. Currently, 95% of their subscribers are millennials; young adult females, on average between the ages of 20–38. The millennial woman is an ideal target market this book-based subscription box. According to a study by McKinsey & Company, women between the ages of 20–44 years old account for 60% of all subscription services. In addition, Pew Research Center reports 70% of women surveyed read a printed book in the past year.
The Book of the Month’s target audience, being the millennial woman, enjoy the convenience of subscription boxes; a curated selection of products, the ease of continued service without repurchasing, and the ability to access exclusive products. When time is highly valued and not so often had, millennials are willing to pay to skip the research and be given options to choose from in the form of subscriptions. A Book of the Month subscriber enjoys reading during their free time, however much that may be, and appreciates the physical qualities of holding and interacting with a hardcover book. They have an affinity for being surprised and are open to discovering new and emerging fiction authors. Between 75% and 80% of the books offered in the subscription service are by up-in-coming authors. In addition, 80% of the authors featured by Book of the Month are female themselves; the target market and product poetically paralleling. Although the target audience is limited to the continental United States and active military serving overseas, the company still receives support and adoration from all around the world through their social media accounts.
The best method for marketing Book of the Month to millennials is through the use of social media; 90.4% of millennials use some form of social media. Book of the Month uses Facebook, Instagram, Twitter and Pinterest to reach and market to their audience. With more than 955,000 followers, Book of the Month’s Instagram account is their most active social media account. They encourage their followers to use #bookofthemonth to promote engagement and create user-generated content to feature on their account. Their success lies in their ability to draw interest to the books offered in their subscriptions and keep their followers engaged. By posting multiple times a day, they stay relevant and promote the brand. Their posts highlight featured books, humorous memes, and the various ways their customers engage with their book subscription.
Their Facebook account, with over 360,000 followers, repurposes most of their Instagram posts but still attracts lots of engagement. Book of the Month’s Pinterest account, with 12,000 followers and 857,000 monthly viewers, is dedicated specifically to highlighting each individual book selection. Their Twitter account, with just over 14,000 followers, has the least activity, with the last tweet posted in May 2019. It would be advantageous for Book of the Month to increase their SEO and use of display ads within these social media platforms. In doing so, they would be able to reach their ideal target market through social media and possibly expand their customer base by attracting people who may not have heard of the subscription service. Along with external marketing, Book of the Month taps into their target market’s loyalty through internal means.
“Read books. Get rewards.” As part of Book of the Month’s long-term marketing efforts, subscribers are encouraged to continue their subscription for at least twelve boxes to participate in their “BFF” rewards program. Customers can earn rewards such as free gifts and add-on products and gain “BFF” status with the brand. Besides the small goodies, at the end of the year, Book of the Month lists their top five books and BFF rewards members are able to choose one of their liking for free. Rewards programs are a great way to keep subscriptions active and retain customer loyalty. Adding an option to earn rewards through subscription referrals would be another great way to grow Book of the Month’s customer base. Rewarding customer referrals encourages word of mouth advertising and the increase of brand awareness. A loyal customer, prompted by incentives, would be willing to advocate for the brand and product.
The Book of the Month subscription service has appealed to readers for almost a century, so they must be doing something right. They offer hard-bound books for an affordable price, with little to no research required for their subscribers. The ease of subscription boxes and the use of targeted marketing allows the brand to focus their attention on the needs of their customers and maintain their loyalty base. Adjusting their marketing efforts to reflect the changing communication methods of their target market will help the brand grow and continue to bring literature to their subscribers for years to come.
