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It’s hard to keep up with daily news and monthly updates when you have a subscription for everything from plants to toys. But the business model continues to expand its footprint, including on social media platforms like Instagram, which in January began rolling out a category for select creators—like artists. and designers-to expand its monetization tools. Professional accounts with more than 10,000 followers can pay a monthly fee (between 99 cents and $99.99), giving subscribers exclusive live coverage, news, Videos, bulletins and group discussions. Currently, Instagram does not take money from subscribers, but Google and Apple collect 30 percent in fees for in-app purchases.
Because the model depends on the consumer’s willingness to pay for exclusive access, and the monthly price can be wide, creators are challenged to find a sweet spot for paying for their content. Home Business checked with designers who meet the minimum quota of followers to find out how this business model looks for their subscribers.
IN FRONT OF THE PAY BOARD
Exclusivity and educational value are common threads among designers planning to release a new pay-for-play category. Los Angeles-based R/terior Studio’s Rydhima Brar was inspired to focus on financial education resources after a recent visit to High Point Market, where she learned about up-and-coming trends and new buyers. , price increases, inflation and market behavior. “I want to use that information and provide some kind of knowledge,” says Brar. “If you’re thinking of renovating, if you’re thinking of building a house on your own, you’re not sure if you’ll have the money, [this information] He can understand where the market is headed.
Likewise, Northwestern designer Ashley Ross hopes her subscription service will be shared with other designers, indicating the level of relationships the industry is currently cultivating through Instagram grid posts and Stories. Her team at Muse Noire Interiors is still in the planning phase for her subscription model, as they determine the audience they want to tap. “[Our firm] very young, but people rarely realize how young we are because we’ve been able to achieve it,” says Ross. “There’s a lot of attention from designers who started at the same time as us trying to pick our brains about how it happened so quickly.”
Creating a space to connect with other designers is the most important thing for Joy Williams. “We get a lot of questions from designers who are just starting out, and they don’t really know how to price or what to consider if a builder wants to choose finishes and materials, so I thought my service should answer those kinds of questions,” said the designer and owner of Joyful Designs Studio. She seeks inspiration from other designers such as home and gardener Alisa Bovino, who uses her Instagram (@aglassofbovino) to give clients advice on how to ensure vintage items, especially through Facebook Marketplace. Although Williams doesn’t intend to follow the same model, he hopes to use subscriptions to engage the design community. “I’m also trying to figure out a way to get my clients, potential clients who may not be able to afford full design services, to join my live stream and answer some questions. of their questions,” said Williams.
For Brar, in addition to marketing campaigns to consumers, he hopes to reach a larger audience: consumers. “I think some of the customers want to hear my point of view, so they’re interested in the subscription information,” says Brar. This led to an idea for him to work with consumers to promote their products, and to follow the influencer model one step into exclusive subscription content. “If customers are following you, customers will be willing to work with you, we can probably create a special message for you to tell them about their products.”
Fans will be notified when a creator offers a subscriptionBy BOH
Williams can offer premium paid subscribers for live streaming, news, Videos, newsletters and group chats.By Joy Williams
Left: Fans will be notified when a creator offers a subscription By BOH | Right: Williams can offer premium paid subscribers for live streaming, news, Videos, newsletters and group chats. By Joy Williams
THE PRICE IS FAIR
Finding monthly payments is a challenge, given the new nature of the situation and the lack of data on enrollment and return on investment. Brar has decided to start with $2.99 a month. “I’m going to go to the bottom to see if the followers bite,” he said. “When I see the work and the answers, I will evaluate the price, but for now, I went with what I would be willing to pay if I were on the other side.”
Williams currently charges $9.99 per month as an onboarding fee, but expects that to rise to $19.99 once it builds a subscriber base. Because there is a limit to how much one-on-one help he can provide through the subscription service due to his staff bandwidth, Williams sees this as a way to his 45-minute video talks, which cost $1,195 per session.
At the other end of the spectrum, Ross asks students to complete a series of lessons, similar to private conversations, before they subscribe to his content. He plans to release consulting classes in December that focus on getting paid for your work, sharpening internal processes and navigating social media. These 90-minute courses, created in response to every direct message Ross’s firm receives on Instagram, cost $400 for one class, $1,200 for three classes and $2,400 for six. After customers complete a class, Ross suggests offering a discount on the subscription.
“The point is for us to weed out people who don’t really care about what they’re building,” says Ross. “The first time we released blocks of time [clients] You can write on our website, I was waiting for them to close the place in their business, and then start posting information that is not the same as their company. I want people to think as much as I do. If you don’t invest in your business at this price point, you may not be ready to take our classes.
USE OF WATERS
Although the designers want to expand their business by offering new Instagram subscriptions, they also expressed a sense of surprise about the integration of Meta into their business. While Williams is concerned that the tech boss may be at risk when the algorithm crashes, he recognizes the importance of social media as a way to promote his company. From an ethical perspective, Ross doesn’t want to deviate from his company’s mission by rushing to subscribe because Muse Noire doesn’t have a byline for doing business with businesses and other designers now.
Likewise, Brar is taking time to research the situation before moving forward. “I’m trying to find the right balance of providing valuable content for subscribers,” he says. “I’m not going to get anything right now. I need to create a strategy, to know where my value is. Hopefully, I’ll do all of this in the next couple of weeks and we’ll start to see some results.”
Page image: ©Wichayada/Adobe Stock
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