How to increase your sales with Bundles?

Product bundles

You are an online trader and your goal is to sell more and more. However, there are days when sales are not going well and you wish the phone would ring for an order. What can you do to increase your sales? A good solution is to offer a package of several products, or the so-called Bundles.

What are the Bundles?

They are combinations of several separate goods or services which are offered to customers as a single product package. This package may include:

  • products which are also sold separately in the online store,
  • products which can only be purchased in a package.

Why should you use Bundles?

From a marketing point of view, the first bundle (products which are also sold separately) encourages customers to buy the package as the price of the package is lower that the total price of products sold separately. If the individual product price seems high for the consumer, then in a package it may be acceptable. It is important that the combination of products is organized so as to include everything necessary for the buyer. Having a well-organized package, the user will become your regular customer.

The Westpac Group is Closing 22 Westpac Branch Locations in Australia

The Westpac Group announced that it is closing 22 retail branches across Australia. This decision comes days before Commissioner Hayne releases his final report, which found that Westpac put profits over people and communities. Many groups value the essential branch service that Westpac provides, and have long called for a rethink of the way westpac branches conducts business. The financial services giant is now consulting with affected workers and is committed to maximising redeployment opportunities for affected staff.

In 2006, the Bank of New Zealand (BNSW) required the bank to integrate the NZ branches network. In 2007, WBC announced its intention to merge with St George Bank for A$19 billion. Approximately 95% of St George’s shareholders approved the merger, and the Federal Court of Australia approved the merger in 2008. In 2011, the St George branches in Victoria were rebranded as Bank of Melbourne branches. The Westpac Group celebrated its 200th anniversary in 2017.

The bank has more than one hundred branches across New Zealand, including many in the North Island, where 75% of the population lives. The bank also has representative offices in Europe and North America. Its branches in New Zealand service most towns and cities across the country. The Bank of New Zealand has over 1.5 million customers and 3,000 shareholders. This makes it the dominant provider of banking services to small, medium and large businesses, as well as corporate and institutional entities. Currently, Westpac is the country’s second largest bank after ANZ and the National Bank of New Zealand.

In the second version of the bundle (products which can only be purchased in a package), the consumer can buy the whole package only because of this one product, which cannot be purchased independently. There are two options for marketing approaches:

  • focus on the product which cannot be purchased on its own and add some small and less valuable products to it,
  • focus on another product which can be purchased independently, but with an emphasis that it is now possible to get something else with it, which cannot be bought outside the bundle.

We can give an example with our Promotional package that we offer:

  • Starting an online store with a discounted price of BGN 689, instead of BGN 1720
  • A bonus that can not be bought outside a bundle – over 16 hours of video lessons in Marketing from Stilian Zaporozhanov 
  • Another bonus that can not be bought outside the bundle – The training of Zhivo in Successful Online Retailers 

How do bundles help increase the revenue of your online business?

In general, when customers buy products in a bundle it leaves them with the feeling that they save money.

  • Combining products can effectively increase the average value of an order by selling more without incurring higher transaction costs.
  • Bundle deals make it harder for customers to compare prices and look for the lowest price.
  • Offering products in a package will encourage cross-selling, especially if you include items from new categories.
  • With bundles, you can sell additional products which are usually less frequently ordered.

How to create Bundles in your online store in CloudCart?

See here how to set your products to display as a Bundle.

Expect more useful materials from us. Let us know in the comment section what your difficulties or successful practices are.

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