Product bundling is a great way to increase revenue in your dropshipping business. It can help you attract both casual browsers and shoppers who are eager to buy anything they like. Just like other sales strategies, bundling products should be done strategically for it to become successful. In this article, I’ll discuss how to nail product bundling in your dropshipping business.
What are the benefits of product bundling?
Product bundling is the act of packaging together complementary products and selling them at a discounted price or with an add on value. Although it’s a tactic that is very popular during the holidays, with the right combination, product bundles can be used to earn profits all year-round.
- Introducing product bundles in your dropshipping store can boost the perceived value of your products in the eyes of your potential customers.
- It can increase your revenue without the need to get more customers into your store.
- You can attract more people to check out your store by posting about your product bundles on social media.
When to offer product bundles in your dropshipping store?
You can offer product bundles in any of the following situations:
- To boost awareness for a new product.
- To sell slow-moving items by bundling them together with a popular product.
- To make gift-giving easier during the holidays.
- To allow customers to create their bundles from selected products at a discounted price.
A bundle can be as simple as combining two useful things or can be as complex as building an elaborate gift basket. Just remember that to make product bundling work, the combination of products can either make customers’ lives easier or help leverage the product they want into a better one with the help of the additional product in the bundle. There’s a mix of art and science in product bundling so make sure that you know how to nail them to achieve success in this sales tactic.
To determine which products to bundle together to get the most attention, there are several methods you can use.
Check what products customers like to buy together in your store or other marketplaces.
This is how it looks like in Amazon. You can use this data to create your product bundles.
Research Facebook groups to learn about the consumers you want to target.
For example, to learn what dog lovers want for their dogs you should look into dog lovers Facebook groups. Use the information from their conversations for educational purposes but don’t try to sell to them without the moderator’s permission.
Read your online reviews as well as your competitors.
Customers will likely tell what’s missing in the products they purchased. Regardless if these are bad or good reviews, use the information to improve your products or product bundles.
This review tells that a plastic-type bag is more sanitary than a fabric one and would make cleaning easier. Go ahead and bundle the mitt teether with a reusable plastic bag and cleaning aids or sell a similar teether packed in a non-fabric bag.
Product bundling is an effective way of increasing revenue in your dropshipping business. However, it must be done the right way for it to be successful. You can offer product bundles all-year-round but make sure that they are applicable for current times. Don’t make the mistake of offering Christmas bundles after the holiday is over because it will not get the kind of reaction you’d like.
Conduct research on your website, marketplaces, and social media to get ideas on what dropshipping products to bundle together in your store. Product bundles can attract customers who are looking for a cheaper way of buying the items they want. However, make sure that you also offer bundled products individually to accommodate consumers who are decided on buying a specific item only. By providing this flexibility to the consumers, you are most likely to earn their business right there and then.