Product Bundling as a strategy is a sure shot way to scale your business!
Across sectors, many WooStores use it to increase order value and clear inventory. Plus, it improves the customer experience.
But, not everybody succeeds since the mere implementation is not enough!
The real art lies in identifying different bundling techniques and implementing them smartly in your WooStore.
Hence, in this article, I will share 11 such innovative WooCommerce Product Bundling strategies you should use to shoot up sales and revenue of your WooStore.
Let’s begin!
WooCommerce Product Bundling Strategies
1. Empower customers to create their own assorted bundles
In the same way, you too can give your customers the freedom to create their own assorted bundles. This will help in offering a great shopping experience and convenience to your users.
Empowering customers with this power in your WooStore can help you stay way ahead of your game.
2. Offer prefilled bundles with complementary or related products
Creating WooCommerce bundles with complementary products makes life much easier for your customers. It saves them the time and effort of looking for individual products.
For e.g: Costco offers various kitchen appliances like Gas, Refrigerator, and Washing Machine in a single product bundle. This is offered at a lower price for those looking to model their new kitchen.
Bundling complimentary products at a lower price allows you to increase the value of the pack and enables you to sell more products instantly.
Implementing this strategy in your WooStore will easily shorten your customer’s decision-making process resulting in quicker conversion and more sales.
3. Use Fixed or Variable pricing type for your WooCommerce product bundles
Pricing your product bundles is a tricky affair!
For pricing your bundles, you can choose to adopt a fixed price model for your WooCommerce store. In this model, you set a fixed price on your bundle to offer consistent pricing to your customers. This attracts new customers and increases the bundle’s perceived value.
Furthermore, it also makes it easier to forecast sales and profits at a fixed price point.
For e.g: McDonald’s and Burger King follow this pricing model for their value meals.
Using a Variable pricing method is another option where the calculation of your product bundle depends on the prices of the products added to the bundle. This method usually depends on the demand for your product bundles. It also gives you an opportunity to maximize profits.
For e.g: Uber increases its Price/Km when there is an increase in demand for Uber in a particular area.
You can choose either of the pricing models based on the nature of products/services sold in your store.
4. Check-out 3 products from the bundle of 6!
This is a superb dynamic quantity bundling strategy that will allow your customers to check-out partially filled custom boxes.
For e.g: Your customer can choose to pick only 5 vegetables from the box of 10 and pay for the partial box.
You can choose to either set a fixed price for the whole box or charge for the individual products added in the box.
With this innovative WooCommerce product bundling trick, you have a good chance of putting customers in control and maximizing your sales.
5. Club Products and Services in a single bundle
When Apple sold iPods, it also offered a 1-year subscription to iTunes along with it at a discounted rate. I remember because I ended up buying it 😛
Likewise, you can also use this hybrid solution of bundling products and services together. It will create immense value for your customers.
This trick will push up demand for your product among your existing customers and draw new ones as well.
If you can bundle products and services on your WooStore, then this mix could turn out to be a masterstroke.
6. Sell mix and match bundles with product variations, quantities, and pricing
Imagine walking into a store and creating your own product bundle by mixing and matching products from different categories.
For e.g: You can add chocolates, t-shirts, ice cream, shoes, etc. within the quantity limits of the bundle.
The pricing of the bundle can be set as fixed or can depend on the products added in the bundle.
Using this mix and match strategy on your WooStore will enable your customers to choose according to their will. It will also elevate their shopping experience leading to sales of more products.
7. Set base price for Custom Product Boxes to include gift wrapping charges
Did you ever notice how often eCommerce sites offer to gift wrap your product box for free?
Well, the truth is it isn’t actually free!
The eCommerce stores preset a base price for the custom box. And, once you begin to add products in your bundle, the total price is then dynamically calculated.
For e.g: The base price of a chocolate box is set at $5. If the customer adds three chocolates of $10 each, then the total price of the chocolate box will amount to $35.
This WooCommmerce product bundling strategy works great when the bundle needs packing or gift wrapping. If needed, you can choose to charge only the base price depending upon your strategy.
8. Buy 2 for $10, Buy 4 for $15!
Many websites like Myntra, Flipkart, etc. offer discounts on higher quantity bundles. This often pushes customers to increase their order value.
Offering such dynamically priced tiered packs in your WooStore is a great idea! Your customers will be able to perceive more value and savings in higher quantity packs.
This also opens up opportunities for you to upsell higher quantity packs. Plus, it helps in earning higher revenues per transaction and clearing off old stock as well.
For e.g: ‘Buy 2 T-shirts for $10, Buy 4 T-shirts for $15’
9. Link other products to a bundle and cross-sell
Amazon aces this trick of linking other add-on products to cross-sell other bundles.
For e.g: If you browse through Cameras, you’ll find a product bundle with Lens cover and Tripod. Amazon places this bundle under their ‘Frequently Bought Together’ title.
Buyers get an option to choose from the linked products and create their own assortments. Plus, it gives you an opportunity to upsell or cross-sell other products in your online store.
By linking other add-on bundles, you can create a long term value of association with your customers and also showcase the latest brands leading to a boost in customer loyalty and sales.
10. Generate recurring revenue with subscription bundles
Offering subscription bundles lead to building a loyal customer base. Perhaps, that’s the reason major eCommerce giants are quick to jump on this opportunity.
This also gives you a chance to offer a subscription model for Product Bundles in your WooStore.
By charging a monthly or a yearly fee for a subscription bundle, you can also generate recurring revenues, acquire new customers, and enhance sales of your WooCommerce store.
For e.g: Spotify, a music streaming company offered a free Hulu (on-demand TV and movies) subscription along with its subscription bundle to provide more value to its customers.
Implementing a subscription bundling strategy can provide powerful customer experience and build a loyal customer base for your WooStore in the future.
11. Created unlimited WooCommerce product bundles and expand your business
One of the reasons for Amazon’s success is – they offer tons of product bundles in almost every category.
Similarly, you can also try creating as many product bundles with different combinations thereby, making it easier to provide more value to your customers.
This gives you an opportunity to increase sales of multiple products and freely expand your product offerings and customer base.
Experimenting and offering different product bundles will help you to sell more and increase revenues in a significant manner.
Endnote,
Mastering these bundling strategies can take your WooCommerce store to greater heights.
Smart implementation of the above-mentioned strategies can result in increased average order value, improved customer experience, quick inventory turnover, and higher sales. You can also take a look at some businesses that have successfully implemented these bundling strategies.
I’d recommend using plugins like WISDM Custom Product Boxes, YITH Product Bundles, or Product Bundles that can help you implement WooCommerce product bundling strategies with ease and breeze.
Also, if you think there’s more to add to this list of innovative product bundling strategies, feel free to share the strategies you’ve used in the comments section below 🙂
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