Sometimes a very simple strategy can prove to be very effective to take your sales and profit to the next level. You don’t have to conduct a long and detailed research or to come up with some rare and amazing idea to do that.
All you need is just think how better can you serve your customer. Once you come with the idea that helps you provide more value to your customer, you are sure to increase your sales and profit.
One such simple but extremely effective strategy is to sell bundles on eBay.
What exactly are bundles?
Bundles are just listing items together and offering them for a single price. Some people call them packs while other call them as packages. However, bundle is the most widely termed used with such listings.
So, What can You Bundle?
Here a few ways that you can bundle your product.
Bundle a product and an accessory
This is by far the most effective bundling. Most people buying a product would need to buy an accessory. For instance, if a customer is looking for an IPhone, there are high chances that they would also be looking for an earphone and charger, external power bank, protective case and an extra battery.
Similarly, someone looking for a bike would love to get an attached water bottle, a bike lock, a front basket, a bike bell, soft cushion and so on.
The possibilities are really endless.
So what are the benefits of selling bundles?
There are several benefits of selling packs or bundles. Here are a few of them.
You do not have to get new customer for each item in the bundle.
Yes. That is correct!
Once a customer clicks to buy the bundle, you are selling all the items to one customer. So, you don’t have to get new customer for each and single item inside the bundle.
You Save Time
Listing all items individually are going to definitely take you more time than bundling them all together. You don’t have to upload individual photos, write titles, and descriptions separately for each single item in the bundle as you would do while listing them individually.
Once you sell the bundle, you do not have to pack each and every item separately. They all go to one customer and to the same address in one single package. It saves you a huge amount of time.
You Save Money
As mentioned earlier, you will send all the items in the same package to the same address, you will save on packaging material as well as shipping.
More Sales and Profit
By bundling items together, your average sale order goes up. This increases not only your sale but also your profit. Moreover, you save money on packaging and shipping, too. A little bit of research shows that bundled items are slightly more expensive than items listed on their own. So, overall selling bundles increases your conversion rate, saves money on packaging and shipping and are sold for higher price, and hence bringing you more money in profit.
How to Price the Bundle?
It is very essential to price the bundle carefully. Do not over price it as most people will still calculate the individual price for each product individually and work out the total. Just the right price should work great. However, in my experience, buyers still do not mind if you overprice your package reasonably.
Why Do People Buy in Bundles?
This is a great question. Why should people buy in packs?
First, need. Because they need the bundled products. People buying an iPhone will certainly need a charger and may be a case and a protective screen. Someone buying an X-box or a PlayStation definitely will need some games to play.
Second, people pay for convenience. This is even more important for buyers than the first reason. They can buy them individually, but they will have to locate and purchase each one of them separately. They may even have to buy them from several different sellers. In case of bundles it is highly convenient to buy all they need with one click. So they pay for convenience.
What if people only need the main product?
You may be thinking what if the customer needs only the main product and does not want the pack? Will you not lose the custom for not offering the product on its own?
I agree. There will be certain customers who would only want one of the packaged products. In that case you should create bundles listings in addition to your regular eBay listings for individual products. This way you lose no customers.
Some Real Example of Bundles..
Now let us go to eBay and see if this strategy really works.
Garmin GPS Navigator Plus Accessory Bundle
You can see in the above listing a total of 6 items bundled together. Instead of listing 6 items individually on eBay, the seller simply created a single listing of all the items bundled together. The seller does not have to pack and ship them separately either. Just a single package with a single shipping charge will do the trick. Similarly, the buyer does not have to buy all these accessories for the sat nav separately. He gets everything with a click and is ready to pay for convenience.
Nintendo Wii Deluxe Bundled with Games
In this listing we see that the seller is selling Nintendo Wii Deluxe Set with Super Mario and Nintendo Land all bundled together. The buyer definitely needs some games to play on Nintendo Wii. If they have to buy games separately, they will have to search for them separately and end up buying from several different sellers. So, they find it all on in one place conveniently.
10 Packs MLB Teenymates Series 1
And here we see again. A bundle of 10 items offering great value to the customer and higher rate of return to the seller.
As we have seen above, bundling is an effective strategy to increase your sales and profit on eBay. It is less work with more money. It adds value to your main item. Buyers are always ready to pay for convenience as convenience is itself creating value. It is wise to create single listings and bundles to provide to the need of various customers. This way you are targeting customers interested in single item as well as those interested in bundles.
Listings items on eBay individually as well as in bundles is a great strategy to do the A/B testing.