When it comes to owning an online store, two things pop up in our minds,
a) How do I make my store unique amongst thousands of other e-stores? And
b) How do I make more sales?
Well, both the questions are interconnected. In order to make more sales, you must get more customers and retain your existing ones. Similarly, in order to get more customers, you must offer something different to every customer. It can be in the form of offers, discounts, unique products and even good customer support.
Loyal customers are a huge factor driving online sales. A satisfied customer is way better than any advertisement or promotion you can think of, as word-of-mouth supersedes self-marketing.
One advantage that offline stores have is that they can pitch a different price according to each unique customer. The emotional connect is way more than online stores. The store owners have the advantage to gauge each customer, give custom recommendations on products and even convince them to buy more than what they came for. The store owner is thus successful in making a sale by making the customer feel special.
This always happens to me: I walk into a Donut shop, determined to keep my calories in check. I am ready to buy just one Donut but as soon as my eyes meander towards the “Hot Exclusive offer for the Day”, I falter. I end up buying a box of multiple assorted Donuts, just because they are too tempting and I can buy them at a lesser price when they are coupled together. The smile from the friendly cashier reassures my purchase and I end up getting a huge sugar rush and a lighter wallet!
This concept of exclusivity for customers by offering custom product bundles is a unique way to attract them and eventually magnify your profits.
Exclusivity is a powerful sales strategy. Let’s look into some of its applications by using the Donut store experience.
Multiple Product Boxes
Suppose there are 10 types of Donuts, and you can create a box of 5 Donuts. Then, the number of combinations that your box can have is 252! That is the vast variety of combinations that you can offer to your customer exclusively. This can be used for wholesale as well as retail stores, as the product quantity is decided by you.
Set Multiple Box Prices
You can create a base price for the Donut box, or set a dynamic price, or use both, i.e, assign a base price as well as a dynamic price for additional Donuts that your customer might add to the box. This comes in handy when there are similar-priced products in the default bundle and the customer wants to add variable-priced products in the same box.
Use Custom Pricing for Boxes
Apart from having pre-fixed box prices, you can set up additional discounts for your products. For instance, if your customer buys 3 more Donuts, apart from the initial 5, he gets an additional 10% discount. If he buys a combination of Donuts and say, a cup of coffee and muffins, he gets an additional 15% discount, and so on. Thus, you can enable your customer to buy more by offering exclusive combinations.
If you have different kinds of products, then a tiered pricing strategy is also advisable. Take the case of the Donut shop; you can have different categories of Donuts, like a basic range, a premium range, and a trademark range, with different pricing. You can give your customers the option of customizing their box with all the 3 ranges, priced accordingly.
Offer Customizable Gift Messages
You can also add a special message to a gift box they want to send. You can allow your customers to create any number of gift boxes for their loved ones and that too a personalized gift box. This feature adds a personal touch to the customers and enhances the happiness quotient of your customers!
The strategies mentioned above are applicable not only to offline stores but also online stores. If you have a budding WooCommerce store, then you must consider offering your customers exclusive product bundles. You will need a plugin to enable such functionality. One such plugin is Custom Product Boxes by WisdmLabs. It has a host of features which justify the concept of customer exclusivity and the strategies mentioned in this post.
Customer exclusivity in the form of product bundles is a novel way to make your WooCommerce store stand out from the crowd and improve the overall user experience. As we mentioned earlier, customer empathy is a driving force in sales. Once you get that emotional connection with your customer, then making a sale is a cakewalk. Besides, this also facilitates recurring customers who will be loyal to your store.
How did you like our take on product bundling? Do let us know in the comment section below!