Today’s digital world is moving at light-speed. Are you on the lookout for new partners and new ways to boost business? Let us show you how.
What You Need To Know About Software Bundling
As partner ecosystems become the new normal, our old ways of sharing information will transform. Software bundling is going to be the way of the future.
Partner Ecosystems Are Expanding
When it comes time to decide if collaborative partnerships are a good idea…the simple answer is: “You bet!”
Since the beginning of the year, it’s just all anyone has been talking about. Partnerships. Strategic alliances. Partner Ecosystems.
We are expanding our way of working, thinking, and connecting.
It’s the absolute opposite of silo thinking. It’s the direct day-and-night to command-and-control. As if with a snap of a finger, we are out of the dark ages and into a new reality. A world where we are co-creating together. An ecosystem is a living entity where B2B companies work closely and collaboratively with their channel partners.
In this new world, we will need different stories, different data, and different perspectives.
Partner ecosystems are expanding and this is driving the trend to bundling software.
What’s SaaS Product Bundling Look Like?
We can learn a lot by studying the habits of successful businesses. I often find that understanding what successful companies are doing is a great way expand my thinking.
I bet you’ve noticed, more and more of the industry giants are embracing bundling.
Here are a couple of examples and it’s entirely possible you may already be using some of their offerings.
It’s hard for me to imagine life without Amazon. Everything is so convenient. I guess that’s why I’m a perfect customer for their Prime service. I love convenience, products, and videos. Check. Check. And, check.
Amazon’s Prime offers benefits that are well worth the added price such as free 2-day shipping on almost everything, and reduced prices on popular goods. Prime was a great deal even before they added video streaming. But, now with video streaming as part of the bundle, how can you resist.
In case you’re wondering, this is not a paid advertisement. It’s a brief moment of appreciation for the service—and the bundle.
The software giant Adobe has an awesome product suite. If you’re a designer, you most likely couldn’t breathe, roll out of bed, or deliver your exceptional work without it. I’m talking about Photoshop, Illustrator and After Effects as an example. These are household names that every graphic designer knows.
So, it’s no surprise that consumers can save money by getting these bundled together with Adobe’s Creative Cloud service. There’s a natural urge to subscribe to this bundle.
Again, this is not a paid announcement or affiliate message. It’s a sign of respect for ongoing brilliant creativity—and the bundle.
When inbound marketing first appeared on the scene, it sounded like a fantasy. Well, it seemed like a dream come true. Instead of chasing down potential prospects, you can have qualified clients coming to you. Who didn’t want that?
But now HubSpot has gone way beyond CRM and integrated machine-based learning into a broad scope of business areas. These products can be bought separately. Yet, much like a candy store, it’s very likely you’ll want the Growth Suite bundle for added convenience and savings.
That too is not an affiliate message. Hats off to their innovation—and the bundle.
What Do Your Customers Value?
Like most business decisions, the more you understand about your customers, the better value you can offer them.
What truly matters to your customers?
- Are they super busy professionals? If so, they’ll love the convenience of bundles.
- Are they value-seeking discount shoppers? They’ll pick the bundles to grab the discounts.
- Are they frequent buyers? They’ll embrace subscription bundles to save time and hassle.
- Are they using products and software? If so, they’ll appreciate a combined bundle, for ease of use.
By understanding the priorities of your customers, you can design the best approach to bundling products.
Marketing To Value
I know that at Co Sell, we often are talking about selling. But there’s a fine line between selling to value and marketing to value.
When you’re offering a bundle, experts advise that the benefits of your bundle should be obvious. We know this intuitively—and this is why it’s so powerful.
If your customer is valuing discounts, emphasize discounts in the marketing message. If your customers’ priority is convenience, use this in the name, branding, and messaging. If your customers are seeking ease of purchase with their frequent bundles, highlight this.
By marketing value to your customers, you’ll drive value to your bottom line.
Collaborating with Your Partners
Clearly, the benefits of co-bundling are only magnified. Whatever you’ve been doing, dreaming about, and realizing can grow exponentially with the right partners.
While you’re considering potential partnerships, it can help to have preliminary discussions with people who are selling to your target audience. You may be thinking from within the boundaries of your business, industry, and orientation.
When you start to talk with potential partners, keep an open mind. They may have a different vantage point, experience, and customer base. While you’re making warm introductions, keep expanding your network and exploring possibilities.
As partner ecosystems become the new normal, our old ways of sharing information will transform. Software bundling is our new norm. Expect this to be the way of the future.
By starting with the right mindset, you can join successful businesses that are shaping the market and realizing significant revenue potential. Partnership Co-Selling is how you can virtually qualify B2B sales opportunity. You can use this to boost sales, expand your network, and grow profitability.
Using a platform like CoSell is the simplest way to get your sales team on board. CoSell is a robust platform that makes it easy and fast to automate and scale collaborative co-selling across sales teams.
If you’d like to explore how partnership co-selling can help you and your team boost sales and win major clients fast - check out our selection of free eBooks.