There are really only 3 ways to sell more on your online store:
- Increase your sales conversion rate (how many people buy from you)
- Increase the traffic to your site (how many people come to your site)
- Increase your average order value (how much they spend)
Think about this. If you did nothing else but increase your average order value, you’d be making more money from the sales you’re already making.
I was recently speaking with a friend who’s getting ready to launch a new product. We started the conversation by discussing shipping. She said she was losing sleep around whether to offer flat rate shipping or to offer free shipping. I advised to increase the price and offer free shipping. You can read why here. However, I didn’t want to stop here. I wanted to continue the conversation into bundles.
Bundles are one of my favourite eCommerce tactics.
What are bundles?
A bundle is when our customers are incentivised to buy more than one single item.
Example of bundles:
- Save when you buy more than one, like on The Good Bag Project.
- Buy the top + legging combo and get free shipping.
- Buy the face wash + toner + moisturiser and save 15%.
Some example of bundles are:
Evia offers a saving when you buy the set. They have indicated this buy showing the RRP price crossed out next to the price you pay.
The Good Bag Project offers a saving if you buy a bundle of 3 or 6 bags. We highlighted this with the “Value Buy” and “Best Value” callouts.
YP Threads offers a saving if you buy a bundles and they showcase bundles in their main menu.
Why offer bundles:
- Your shipping and handling costs are maximised
- You leverage the time, effort and money that went into making that sale
- You can increase your average order value
Bundles are a great way to sell more on your online store because you are incentivising people to spend more to save more.
It takes time to handle, pack and send the order. This time has a cost. And it takes almost the same amount of time to pack and send 1 item as it does 3. As you scale and need to replace yourself with someone to do these tasks for you and you can bet that they won’t be doing it for free like you probably are now. In fact, time is your most precious asset so you want to leverage it as much as possible.
Your packing bags and thank you cards have a cost. If you can send a bundle instead of a single item, you’ll be maximising the cost of these too.
It costs you money, effort and time to get people to your site and retarget them through every step of their buying journey using Facebook ads and other media. Each sale has a marketing and advertising cost associated with it. And again, it usually costs the same to get someone to buy 1 item, as it does to purchase 3. Once you get someone to your site and they have committed to making a purchase, if you can encourage them to spend more to save more, it’s a win for them and a win for you.
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