Product Bundling has been around for a long time, and up until now, it’s still popular among businesses and their consumers.
It’s a great way of creating a revenue stream as it allows you to package your products, services, or subscriptions together. Creating one helps you whip up an attractive offer that can help your business achieve higher customer conversion rates while allowing you to charge for additional value.
Though you can’t just produce a bundle willy-nilly. It’s assembled with carefully curated products that give added value to its buyers. With any bundle or product sale, you need to create a product bundle that is compelling enough for customers to buy the whole package at once.
And in this article, we will tell you how to successfully create and present your product bundles.
Know the Types of Product Bundles
Let’s start by introducing what kind of bundles you can create. Here are two types as an example, pure and mixed bundling.
Pure Bundling is comprised of exclusive items that can only be bought through the bundle itself. Customers can’t buy the products separately. As opposed to Mixed Bundling, here you can purchase the products individually but for a higher price than when you get the bundle.
Next, identify your purpose for bundling. Maybe you want to release limited edition items to create a buzz or prevent a product from being a deadstock. Determining why you want to bundle up will help you figure out which type works best for you.
Best and Worst Sellers
Go through historical reports to learn which of your products are the top or least-selling items. Gain insight into what your consumers would like and need to purchase from your store, allowing you to strategize accordingly.
There may be items you can pair with your top-selling products to boost their value and profitability, or you can come up with an exclusive bundle for the season. What’s important is giving your customers a good deal than what they are going to pay for your bundles.
Like Seasonal Inventory, your bundles need to be timely. Other than the pricing, think about when you will offer these deals.
It’s necessary to consider the seasonality of the items and customer demand, or else it may beat the purpose of trying to add value to your products. It’s crucial your customers see the use or relevance of your bundles.
Offering Variation and Setting a Limit
If you have a wide enough range of products, creating bundles can be an incredibly effective way to sell more of your items. Produce bundles with different pairings to entice your customers with various options to choose from and enjoy.
And while it’s great to offer variation, it’s also best to know when to stop. An overwhelming amount of bundles may give your customers a hard time deciding, having them leave empty-handed.
This Bundle, That Platform
Look at your sales data to learn what specific items sell the most in each sales platform you use. This will help you decide and strategize what bundle you’ll be creating and which online selling platform will you be placing them on.
Bundle Packaging and Savings
Make your customers turn heads with a good deal and, of course, good packaging. Frame it positively and show each product at its best with careful descriptions and imagery. Make the big picture appeal to the buyer by highlighting the benefits of the entire bundle and their savings.
Simple, if your customers can save a good amount of money from this set, let them know—save up to P200!
Give your Bundles a Spotlight
How and where you show off your bundles is vital because their success also depends on how you present them to your customers. Catch their attention by setting up a table for your bundles in your shop, a dedicated post or banner on your online platforms, and provide a specific page on your website for your sets. Make sure it stands out.
Extra tip: Resellers can create bundles from different brands and have separate posts aside from the original product listing
Product bundles are generally very cost-effective because they simplify the process of selling your products. Customers are choosing between multiple products they can enjoy together. Therefore, it’s an effective way to sell more items at one time.
However, creating a product bundle can be challenging if you don’t know what to do. If you have a big list of products, a set can be time-consuming due to all of the work that needs to be done. Using Zayls, each product within your bundle is just a click away. Making it easier to create a product bundle and track your inventory all at the same time.
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