One way to increase sales is to offer bundles. Among the many types of bundles are Price Bundles. An example of this is the very popular buy-one-get-one promo, aka the BOGO. Another is to offer a “free” item with purchase. These provide the customer with a feeling of having gotten a good deal. However, bundles only work if the seller makes a suggested (curated) list of products.
Product Bundles of various types as a way to cross-sell or upsell can boost sales. A grouping of related or complementary products centered around a main product – for example, a particular cosmetic (a blush or a lipstick) + a higher quality cosmetic brush, lipliner and a primer. Bundles such as these can encourage customers to try multiple new products they might not otherwise. It also helps to smooth out the purchase process by reducing the number of decisions the customer would have to make were they to consider the purchase of each item individually. This enhances the perception of a smooth and pleasant shopping experience.
An interesting statistic illustrating the value of bundles is the case of a gaming company that offered a console + several games package. This resulted in an increase in units sold and more than a million dollars in video game sales. However, when they only bundled games, it resulted in a 20% decrease in bundle sales.
A curated bundle is simply a bundle containing products selected by the seller. This will require some planning on your part with regard to knowing or being able to anticipate what your inventory will be (including factors such as ordering your materials and production timelines in the case of selling goods your business manufactures) in the time surrounding your scheduled “subscription box” delivery.
Additionally, the items put together for your bundles don’t have to be limited to products. You can give yourself options in the case of possible difficulties in product availability from suppliers or shipping issues by offering coupons, brochures, surprise gifts, or even a personal note thanking customers for their business.
One more point… Once you have developed your bundles and are ready to implement, keep in mind that your subscribers will be expecting two emails from you:
The good will generated by these added values can go a long way to developing and nurturing customer loyalty.