If you search on the internet, you will find ridiculously smart ways to grow your sales. These are simple tactics that have helped eCommerce grow rapidly, and gain loyal customers for years.
In this article, we are sharing something similar. The art of product bundling for eCommerce. We will start from scratch so that we both are on the same page.
And by the end, you will have an understanding of:
- What Is Product Bundling?
- What Are The Benefits Of Product Bundling
- The Right Way To Bundle Your Products
- And Finally How To Grow Your Product Sales After Bundling Them.
The article is going to have a lot of insight, so make sure you have your notebook ready. Or just bookmark this article so that you can refer to it anytime you want.
Let’s get started.
What Is Product Bundling?
Product Bundling is a method of selling individual products together as a package rather than selling them individually. Often the price of the overall package is lower when compared to buying each product separately.
This is a popular method of providing the best price to your customer while increasing the average cart value of your eCommerce. For the customer, it gives them a good discount, saves time and enhances the customer experience from your eCommerce.
If you may know, it is also a great way to push your subscription model to increase your returning customer. You can learn more about eCommerce subscription in our amazing article Best way to Use eCommerce Subscription Business Model.
Benefits Of Product Bundling + Secret Sauce Of Success
Now that you know What product bundling for eCommerce is, you must be eager to learn about the benefits of Product bundling. So let’s start from there.
Generates More Sale
We often forget that the customer looks for the best value for money deals. And when we learn about it, we come to the conclusion that Product Bundling is one of the best deals for your customer as well as your eCommerce.
Package deal often attracts more customer and helps in generating more sale than selling any individual product on your eCommerce. It also removes the need for continuous upselling and increases the Average Cart Value in just a few clicks.
Saves Inventory Cost
Product Bundling for eCommerce, also ensures that there will no to very less dead stock left in your inventory.
There is a continuous rotation of sales, which mean no product will stay longer in your inventory increasing your inventory cost.
Product bundling for eCommerce also allows you to sell under-performing products within the bundle at a discount to save you from any unnecessary loss.
Improves Customer Experience
Rather than adding each and every product to the cart, you create a system where they can make a purchase in just a few simple clicks. This saves time, reduces the research, and gives them a quick checkout.
Meaning, it provides them with the best customer experience. This simple change gives them the ability to make a better and quicker decision. This ultimately results in an increase in returning customer and grow your sales steadily.
5 Ways To Bundle Your Products The Right Way
Now that you know the benefits, here are 5 ways to bundle your products.
Top & The Worst Seller
Remember that one of the core advantages of Product bundling for eCommerce is the ability to reduce the inventory cost. Hence, look at your SKU’s data and find out the product that sells quickly and pair it with the product that takes a long time to leave inventory.
If you have a large inventory, you will also find some products that contradict their sales statistics match perfectly when sold together.
The Anchor Product
You are already running your eCommerce store, and you have a little insight into the best-selling products in your store. So, look out for the product that has delivered year-on-year growth.
These are the products that can be anchor, that is the main attraction of the whole package to make your customer buy it. Look at the statistics and find the product that leads your product bundling for Commerce.
As an eCommerce owner, you are already aware of the importance of trending products in the market. Look out for the trends, in your industry as well as the trends among your customers.
Especially if a festival is coming up, prepare your product bunding for eCommerce accordingly. To learn more about it you can refer to our Seasonal Marketing Guides.
Understand this. As an individual eCommerce, you are not competing against Amazon. So it’s better you use Amazon to your advantage. See what are the products that are similar to your’s and find the products that are bought together.
Amazon does a great job of upselling. You can use it to understand your customer grow your eCommerce with it.
Tips To Bundle Your Products To Grow Your Sales
While you have learned the best practice of product bundling for eCommerce, there are few tips we would like to share with you. These sales tips are specifically targeted to grow sales of your bundled products. So make sure you read them thoroughly.
1. Multiple Packages
In order to actually grow your sales through product bundling, you need to provide them with multiple options. Multiple packages that focus on various needs deliver a higher probability of generating sales on your eCommerce.
2.Focus On Savings
Share how your product bundling for eCommerce is actually helping your customer. The primary focus is the price of the package when compared to the price of each and every product bought individually. Don’t forget to show the exact comparison and aware them of the benefits the of deal you are offering.
3. Highlight Your Packages
You don’t only need to create your just work on product bundling, but you will also have to focus on promoting them. Highlight your packages on the banner and show your products together.
4. Bundled Section
Rather than just putting the bundle among the products, would be undermining the value it holds. Rather showcase it among its own section. This will allow your customer to easily differentiate among the products, hence increasing your sales.
This was among the few articles that can generate a stream of ideas for your particular product. That is, in the following article you have learned about the product bundling for eCommerce. But rather than executing it step by step, you can experiment and find your own USP to sell your products. If you are just starting out we would also recommend you read Developing your eCommerce USP: Best Strategy to Grow your Sale.
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