Bundling is the practice of selling a collection of products and/or services together for a single price. Done well, it increases sales and customer satisfaction.
Here are 10 do's and don'ts for making bundling work for you.
1: Do study how products and services are used together.
What other products or services do customers use before, after, or with your product or service?
2: Do bundle products in ways that will enhance customer value.
How can you combine your products and services to your customers' advantage?
3: Do satisfy diverse customer preferences with mixed bundling.
Let customers purchase items individually at full price or as a package for a single, discounted price.
4: Do communicate the clear benefits and value proposition of your bundles.
Educate buyers on the advantages, such as price savings or added convenience, of purchasing your product bundle.
5: Do create an attractive yet profitable bundle price.
Carefully consider the prices of the individual items being bundled and the size of the bundle discount.
6: Do configure bundles to address specific customer challenges.
Identify common pain points your customers face and create bundles that deliver a desired result.
7: Do use bundling to protect the price image of your premium products.
Offer discounts through bundles rather than direct price cuts on individual items.
8: Don't create bundles that offer little or no additional value to the customer.
A bundle is more than a collection of items sold for a single price.
9: Don't bundle products that buyers would have purchased together anyways.
The bundle discount will erode your profits on these products.
10: Don't assume that all products are suitable for bundling.
Some products are better sold à la carte or unbundled.