MUST HAVE STRATEGY FOR THE HOLIDAY SEASON – BUNDLES
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“What package do you want� Huh? I had my eyes closed relaxing as the massage chair pummeled my back.
“Which package, for your nails?†asked the nail technician. “Oh, yes…let me look at the pamphlet…definitely one with the sea salt scrub and extra massage… I’ll take the Green Tea package please.â€
I thought about it for a minute…how easy was it for my nail technician to “bundle†their services together? And what a missed opportunity if they had not made the ask.
I went in for a pedicure. If I had just sat down and let them perform the service, they would be out the extra $40 I paid for the bells and whistles. And from my perspective, I would have been disappointed too… I wanted the bells and whistles!
The ladies at the nail salon are so good at asking us for the upsell. Them: “Getting a manicure? You should try the bio gel, it’s great.†Me: “Ok sure!â€
So this got us thinking – what kind of bundles can you add to your business?
Bundles increase your revenue and improve customer satisfaction. We just need to let them know what the offer is!
With the holidays approaching, now is a great time to think about creating bundles and packages for your products and services.
If you aren’t sure what to bundle, look for inspiration in what you see every day. Booking a flight? How about adding a car rental. Getting a facial? May as well book a 3 visit pack and save a couple of dollars.
The right kind of bundles involve products that fit well together and make sense to the buyer. Product bundles are typically sold at a discount in order to raise the perceived value of buying multiple products at one time.
Good bundles often add a complimentary high margin item (think the product you sell at a high cost and make the most money on) to a low margin purchase (think the product that’s lower cost that you may or may not make a lot of money on) that will give the buyer greater value and add to your bottom line. There are two types of packaged bundles:
â€Mixed Bundle – Products also available as individual units.
â€Pure Bundle – Products not available for purchase separately.
Research shows that mixed bundles have a higher rate of success. A study by Harvard Business School found when video game units and games were offered as a mixed bundle, sales soared. But when offered as a pure bundle, available only as a package deal, revenue dropped by 20%.
Tips for Packaged Bundles
1. The most common types of bundles involve grouping main products with accessories or similar products. Running shoes could be paired with socks and a water bottle. In this example, a camera is bundled with accessories like an SD card, light and a camera case.
2. You can use bundling as an opportunity to get creative in developing new products from overstocked inventory or dated items. For example, you could take a golf shirt that’s not selling well on its own and pair it with with golf tees, a visor and water tumbler to make a Father’s Day gift basket.
3, Consider throwing a freebie into your bundle to encourage the purchase of a higher priced item. For example, add a free pound of a coffee with the purchase of an espresso machine.
Related Products
Recommending products related to a buyer’s initial purchase is another bundling strategy that can increase conversions and bottom-line results. According to , product recommendations can:
Increase revenue up to 300%
Increase conversions by up to 150%
Increase average order value by as much as 50%
Bundle ideas for Festively vendors
Sometimes it’s hard to come up with bundle ideas, so we brainstormed a few ideas for some of you fabulous business owners.
And we’re excited to share that that when Festively rolls out our latest update, you’ll be able to create listings for your bundles and offer additional extras at checkout!
Balloons
Buy 2 balloon garlands and add 5 balloon centerpieces for $500
First-year bundle – Choose any 3 sessions for $1500 (Maternity, Newborn, Family session, Cake Smash, etc.)
Florist
Bundle of blooms – Seasonal designer choice of monthly bouquet $50 bouquet each month for 3 months ($30 savings)
Thanksgiving brunch bundle – 3 mini centerpieces for a lovely brunch at home plus a large bouquet for host $200
Charcuterie
Deluxe charcuterie platter for 10 people plus a a mini dessert charcuterie board for $125
Treats
Customer’s favorite cookies mega platter – includes 2 dozen decorated holiday cookies, a DIY cookie kit, and a dozen mini cookies – $150
Holiday bundle – 4 cookies, 4 pretzel sticks, 2 caramel apples, 6 chocolate covered strawberries in a decorative platter for $125
Rentals
Party Starter Kit – Tent, Chairs, Bundle Rental for 40 guests includes – 20×20 Tent, 5 Round Tables and 40 Chairs – $375
Event Planner
Holiday party planning package – schedule phone and email consultations, develop floor plan, confirm details with vendors, day of coordination (up to 12 hours), set up decor, manage timeline, ensure vendor payments – $1000
Gifts
Your product beautifully wrapped in a personalized gift box – $45
Fall candle collection – 3 candles in assorted scents – $50
What will you bundle?
Did this inspire you to create some bundles for your business? We hope so! The holidays are a great time to experiment and try something new. You don’t want to miss out on those customers ready to buy this holiday season!
Do you plan to offer bundles this holiday season? What kind of bundles do you think will work for your business? Let us know in the comments!
