One word: BUNDLES.
Let’s do the math – let’s say you want to sell $200 of information products every day (that means $6,000 a month, $72,000 a year, pretty good huh?):
- You will need 11 people to buy one $19 product from you; or
- You need only one person to buy a $189 bundle and one person to buy a $19 product to make the number – only 2 customers, not as daunting, right? You also get more return from your effort to drive traffic to your website.
Creating bundle sounds like a big effort? Nah!
- Take stock of your existing materials – ebooks, audio recordings of your group coaching programs or classes, special reports, handouts that you created for your clients, blog posts and newsletter articles, anything else that you have published… basically any content you have generated. List them out and put them into categories – are there one, two or even three categories that are represented by a good amount of content?
- Start with one of those categories, and see what materials you have. Can you curate them into a series of products that can enhance and complement each other? You can lead with the a bigger program that has the highest value, and create a package with a bunch of bonuses as supplementary materials to boost the perceived value of your package, or you can create a bundle that feature a series of information products around a single topic.
- Repeat the process with the other “strong” categories, and see which one(s) make the most sense and has the least “gap” that you need to fill. Also think about if some of the categories actually complement each other – e.g. kicking sugar can be very helpful for those who are looking to lose weight, so you can package a sugar program with a weight loss program.
- With a critical eye, look at the package(s) that you have selected and see what you need to add to ensure that the information is coherent and provide high value to your customers. Adding templates and worksheets to help people track progress and take action is always a plus.
- Write down the value of each of the components, add them up and use that value as a starting point on how you would price your bundle. Rule of thumb seems to indicate that the price should be at least a 50% off of the total value (note, VALUE, not the price that you may be selling the single products at – it’s the value that you deliver to solving your clients’ problem)– the key is, you want it to be such a good deal that your customers cannot pass up the opportunity.
Tada! You have a bundle!
Looking for quick way to create a bundle? See what our Done-For-You Programs can do for you… of course, there is a bundle for you to purchase – scroll down to bottom of page to see the 3-pack with bonus!