4 product bundling tips for Black Friday success
Black Friday is the traditional period when software and SaaS companies create killer deals for the start of the holiday season. Naturally, this is the right time to show off your creative bundling skills that will add an additional kick in the value of your deal, which significantly helps conversion.
As the holiday season is the time when software and SaaS companies invest huge amounts of resources for traffic acquisition to achieve the highest visibility possible for their bundled deals, there are some tweaks that can make your bundling efforts more successful.
There are several benefits of product bundling:
- It helps with your secondary product sell-through
- It increases the average cart value
- It improves the perception of value from the customer’s side, as customers like to have out of the box solutions to help with their challenges. Product bundling does exactly that.
Check out these 4 tips that will make your bundling efforts more successful this Black Friday:
1. Focus on customer needs
Before creating the bundles, you need to know what problems your customers are trying to solve by purchasing the product. Are all the products included in the package meeting the customers’ challenges? If they do, then your bundle is definitely set for success. Remember that relevance is the key to the bundling success.
2. Be clear about the value
Never forget to communicate how much they save by buying the bundle instead of buying each product separately. Keep in mind that the value is the one that closes the deal, not the price. Express it either in percentage or dollar value, whichever number looks more impressive to the customer. If they both look good, then use both of them for your advantage.
3.Bundle with affiliates
If your portfolio is only limited to just one product, don’t give up. There are plenty of products on the market that can great fit with yours. Join forces with other software vendors and share the marketing costs, you will both benefit from that.
4. Bundle across industries
Software goes great with hardware, after all this is what it’s made to work on. For example if you sell photo editing software, why not bundle with a camera at one of major retailers in your area? Identify the hottest gizmos this season that your software will greatly go with and try to grab the opportunity with the vendor. This way you will save money on marketing and touch a larger pool of clients, maximizing your product exposure.
Software bundling offers you the opportunity to increase the customer satisfaction by simplifying their choice, by adding value at a more fair price of your products. Moreover, bundling creates an opportunity to communicate to your customers that you hear and understand their needs, thus driving loyalty.
Bundles will offer value to you too with a better sales,marketing ROI and your product sell-through. Don’t forget to be creative and stay relevant with bundling and this Black Friday will be a guaranteed success for your business.