Is Bundling Right for Your B2B SaaS Pricing? Here's When to Consider It and How to Reap the Benefits
SaaS Bundling Strategy 101. Should you consider it? What kinds of bundles are there? When is the best time?
SaaS Bundling Strategy 101. Should you consider it? What kinds of bundles are there? When is the best time?
💡 SaaS Bundling strategy 101:
Should you consider bundling?
What kinds of bundles are there? 🎁
So, when is the best time to consider a bundling strategy in your B2B SaaS pricing?
- You have multiple products serving the same customer.
- About to launch a new product for existing customers.
- Revenue per customer is of higher importance than revenue per product
If any of these describes you, then a bundling strategy might be a great fit.
💡Here are three ways to think about bundling your products to drive revenue and adoption
1. Joint Bundling - each product is seen as having equal value, and you only sell them together in a bundle (Google Workspace - you can’t buy just google sheets or docs, you buy them all together as a bundle)
2. Leader bundling - one product clearly has a higher value (e.g. Medical dictation SaaS + a free microphone)
3. Mixed bundling - option to buy each product separately or together for a discounted price. (e.g. Adobe: Creative Cloud)
📈The benefits of Bundling:
1. Simplifies the buying process: Bundling makes it easier for customers to get all the products they need in one purchase.
2. Increases sales: Bundling can increase sales across your entire product suite.
3. Improves the performance of lower-volume products: By bundling these products with leading products, you can help boost their performance.
4. Drives adoption of new products: A bundling strategy can be a great way to drive the adoption of new product offerings within your suite.
🔦 So have a look at your offering. Would Bundling help increase adoption or simplify sales? Let me know in the comments.