What are product bundles
Product bundles are something that is usually made up of multiple products. This appeals more to certain audiences, can cover a specific area of interest or specialty, or offer something completely new and different. However, do you know what else makes product bundles so useful?
With the use of digital products, it typically does not require any extra costs or a whole lot of time or effort to be able to create a bundle. Because the prices are so low when it comes to creating digital product bundles (except the time spent) the reward can often be significant. The customers are happy because they get a better band for their buck, and this has previously proven to be even more effective than discounts or savings alone. Fo almost no extra costs to you, combined with an increase in marketplace sales, you can instantly see sharp gains in overall revenue and average revenue per transaction, including increased brand awareness.
Your product bundles can always vary in size from large to small, and they can also contain several different products. Which are not required to be directly related, or can be individually selected to match and meet a particular theme. There are all kinds of different ways to combine, complement, and repurpose products to make attractive bundles that your customers will love. This can always be a fun task where you can get creative with your products. There are several things that you can do to get the most out of your digital bundles on marketplaces.
Long shelf-life products
Do you have products which might have been sitting on your shelves or storage and are just taking up space without making any revenue for you? Then consider taking these products and repurposing them with some new or more desired outcomes to move the old stock. Product bundles can have a very positive effect on the consumers when it comes to the value. Because the customer gets more products for less cost, they are extremely satisfied while you bring in extra sales with the products that you previously had trouble selling. Reusing products in new ways does not only apply for old products. You can also choose to combine your matured products or relatively new products in combination with each other to produce “extra value” bundles. This can replenish your marketplaces by creating new and different variants of packages containing all kinds of different products.
A more original and classic approach to product bundles would be to sell related items. This appeals to people looking for an individual specific product type as they can walk away with a significant amount of content that is relevant to the – content that they initially wanted! Since the customer is already predisposed to be interested in the products of a particular nature. They will be more likely and willing to spend extra money to get the combined value of those products at a reduced price.
Combine the most popular
If you have some best-sellers which are selling like hot bread, then you should consider combining them. Best-sellers can increase the effect and produce a highly attractive bundle of products to offer on marketplaces. This gives customers a high-value purchase option that they cannot afford to miss out. You also get the chance to personalize and distinguish yourself from the competition. Offering these bundles at a specific point in time or with an exclusive offer to boost some quick sales is another great idea you can utilize.
Your strategies will always depend and be directly affected by the type of products that you offer, what your audience expects from you, and depending on if you have a brand or not. Since bundles are quite simple to put together and require minimal costs to do so, there is plenty of room for experiments. Utilize your creative side and make some irresistible offers to your customers that will stand out in relevance to your niche.
It does not matter what you choose to do with your bundles; overall, your customer will value and appreciate the extra savings and added value. Your marketplaces sales front will get refreshed with new unique purchase options, and you’ll likely bring in some more marketplace sales, too!