2018-08-08 20:41:06Growing a Business: How to Make More MoneyEnglishhttps://quickbooks.intuit.com/in/resources/in_qrc/uploads/2018/08/freelancer-plans-service-bundles.jpghttps://quickbooks.intuit.com/in/resources/growing-a-business-how-to-make-more-money/service-product-bundle/What Is A Service Product Bundle & How To Market Bundles?

What Is A Service Product Bundle & How To Market Bundles?

3 min read

If you’re a freelancer in India, you know that sometimes you need to think outside the box to keep the money coming in. After all, it’s a competitive market, and there are times when the work just isn’t there. Packaging your services into a service product bundle can be a great way to stand out from other freelancers. Moreover, this helps in generating some extra profit.

What Is A Product Service Bundle?

Bundling is simply offering packaged deals to up sell your products or services. Say you’re a freelance blogger. Instead of charging for one blog post, you could charge for a month’s worth of posts at a slight discount. You’ll have guaranteed work and your client feels good about saving some cash. Another way of using service or product bundling is offering different options depending on the package tier. In addition to writing a blog post, you could also offer a premium package. Such a package may include keyword optimization, copyright-free photos, and sponsored ads to post on social media. That way, you’re turning a small project into a larger one, which naturally results in more profit for you.

Marketing Your Bundles

1. Offer Deals On Your Bundles

In order to make this bundling strategy work, current and potential clients need to know about your packages. Social media is perfect for spreading the word. In order to encourage quick sales, you may want to offer limited-time deals. Using the same freelance blogger example, you could offer free keyword optimization and photos if clients pay for five blog posts up front. But only if they sign up in a week’s time. Next week, you could offer a new deal (in addition to your regular packages). This marketing method helps keep your clients interested, gives them the chance to save some money while also giving you more business. It’s a win-win deal for everyone. Be sure to clearly outline exactly how much your clients can save by selecting a bundle.

2. Offer Incentives

Another way to make bundling work for you is to offer freebies. For instance, you could include one free blog post when clients purchase 15 posts. That one unpaid post may be worth the profit generated from the other 15. Of course, you don’t want giveaways to cut into your overall profit. So be sure to crunch the numbers beforehand to make sure that the freebies are worth your time. QuickBooks Online offers fantastic accounting tools that make it incredibly easy to track profits and losses. That way you can discover which types of packages work, and which you should skip next time.

3. Partner with Other Freelancers

A great way to enhance your bundles is to create packages with other freelancers. Say you’re a freelance website designer. You could team up with a freelance copywriter to provide content and a graphic designer to create logos. Rather than just selling a simple website template or design, you can offer a bundled deal with all of those services. This will help in providing your clients convenience and savings on a full, completed website. Just make sure you work with trusted freelancers so you can maintain a solid reputation among your clients.

Bundling your products or services is a great way to up sell your clients without being overbearing. When you offer a bundle, you’re getting more work while simultaneously giving your client something in return. That type of good business is what keeps clients coming back. And consistent work is a freelancer’s bread and butter. It’s how you go from working part-time to truly becoming your own boss. Try adding some bundles to your menu — the profit growth can be quite impressive.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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