Want to make some quick money from a bundle deal? Follow our advice below and a quick buck could turn into a more substantial revenue generator.
Bundle offerings that are sold off-site (such as popular blogs) can be an incredibly valuable tool for spreading the word of your company. However, it is easy to get caught up in the excitement of making some money in a flash sale. If that’s where your mind is at… we just suggest changing your point of view.
There are three ways in which these bundles can be viewed:
If you’re using a bundle to rid yourself of dead stock, then you will be making a huge mistake. It’s most likely your unsold inventory stopped receiving updates & features ages ago and is therefore not of the same quality as your latest work.
The worst thing you can do with those products is try to monetise it through a bundle offering. Here are 3 reasons why:
It’s easy to get sucked in by the potential of making some tin off a successful bundle sale. In our opinion, this is a short sighted view on what could produce a longer tail of sales and return customers.
The very premise of trying to simply make a quick buck will reflect in the products you include in the sale. Any bundle you create or contribute to should be meticulously prepared and tested.
If you follow our advice on point number 3 then the long term value of the bundle sale will far outweigh the thrill of making a few dollars in a flash sale.
Whenever we’re approached by another company who wants to include our themes in their bundles, we always look at how it will benefit Obox from a marketing point of view.
Advertising on websites can be expensive, and getting listed on websites is even more difficult. So with that in mind, how tough would it be to get a website to pay you to list your product on their site? Imagine that part of the benefit of that listing would be a mail shot to their entire database, plus the prospect of being on their homepage for over a week.
If you were to pay for that exposure it would cost thousands of dollars, however with bundles it’s the reverse.
We never look at a bundle offer as a money making opportunity. Instead we like to look at it as a source of brand exposure.
When you choose the right bundle partners correctly you can tap into a target market that you previously never had access to.
If you happen to convert some of those visitors / subscribers into customers you also have the chance to upsell them on your amazing services or your new and improved product offering thereby creating a long tail of future sales and maybe even lifetime customers.