You’ve created a booklet and sales have been promising. So, you created a second booklet, and again it did well. But now, you aren’t sure what your next step should be. Should you create a series? Write a book? That seems like alot of work. Is there an easier way to make even more money from the work you’ve already created?
How To Raise Your Profits Without Creating New Products
You don’t need to write a book or create a series of booklets in order to raise your profit. In fact, you don’t need to create any new products at all, though at some point you may want to consider it.
An easy way to raise your profits from your booklets is simply to bundle them together. If the titles are related, this is easy to do. You can still offer them separately, but by offering them bundled you give the buyer a special discount, and yet you sell two booklets rather than only one. Your profit on the sale of two booklets is higher than it would be on the sale of only one, even though you’re offering a discount.
Why Bundles Work
Everyone loves a deal, and offering your booklets together at a discount gives people a deal. Many people who would otherwise only purchase one title, giving you less profit, will gladly purchase your bundle of two titles just to get the discount. They get a deal, and you make a larger profit. This is why bundles work so well.
Bundling Isn’t A New Concept
You’ve undoubtedly seen this marketing tactic at work in stores. Often they’ll do something like buy 2, get the third one free. We all know that we really aren’t getting anything for free, but it seems like a good deal so we buy two instead of only one. Or, you’ll see a price for one item, and a lower price for purchasing two or more of the same item. This is a tactic grocery stores use all the time. Candy bars are one example. If you buy one, it’s 50 cents. If you buy three, the price goes down to 33 cents each.
You also see bundling in computer services. When you purchase hosting for a website, for example, you’ll see many services offered for one low price. Most people will compare the services offered by different potential hosts before they make their decision. In the end, they will decide to use the service that they feel provides the best value for their needs.
Bundling isn’t a new concept. Think of the baker’s dozen. This one goes back to ancient times. Buy a dozen of whatever and you get an extra one thrown in the bag. It’s a timeless tactic for providing value for the customer, while at the same time getting them to purchase more than they normally would.
Books – The Ultimate Bundle
When you write a booklet, you have the beginnings of the ultimate bundle. Ten booklets on a related topic could be a series of booklets that are sold separately, or they could be turned into a book. The problem is, books sell for far less than an entire series of booklets. What to do? Simply bundle the booklets. Your bundle of booklets will bring you far more riches than a book, as it will have a higher perceived value than a book. And for those who don’t need the whole bundle, you can still offer each of your booklet titles separately at the regular price.
Bundling your booklets is an easy way to make more money from them without doing any extra work. You can, of course, continue to create new titles, and then bundle those titles too.
To your riches,
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