How We Made Over $26,680 in 48 Hours by Using a Unique Pricing Structure
Lots of people are selling bundles these days. If you haven’t bought one or aren’t familiar, it’s basically just a bunch of products or services sold as one “bundle” for a discounted price.
What we* did with the “Bundle of Awesome” wasn’t revolutionary when it came to the content in the bundle. We have a few courses we’ve created, books we’ve written, design resources, discounts on products from friends, and a few other things. Most of it is targeted at freelancers, designers, or entrepreneurs who want to learn a few new skills that can make them money.
*We = @pjrvs + @iwearyourshirt
I might be biased, but I think it’s a badass bundle. We’ve spent years writing books, creating products, building relationships with our audiences, and connecting with like-minded businesses that we use and love. For all intents and purposes our somewhat overnight success was a few years in the making.
The value of the bundle is around $3,000 if you add up all the items in it, but we knew we couldn’t charge anywhere near that. We also didn’t want to do the standard discounted set price ($99 for everything! 344% OFF!). Instead, we wanted to do something that created some urgency and gave people a nudge to buy while sitting on the sales page.
A few years ago I created a company called IWearYourShirt and it got traction because of the pricing structure I used. I charged $1 on January 1, $2 on January 2, $3 on January 3, all the way up to $365 on December 31 (calling this “Bumpsale” pricing now). It may not sound like much, but when all 365 days sold it added up to $66,795. Not too shabby.
So, when we were trying to think of a unique way to price the Bundle of Awesome we thought why not try the $1 increasing price again? Instead of the price increasing each day, it would increase after each person bought the bundle. And, while you sit on the sales page the price will increase right in front of your eyes if someone makes a purchase. The longer you wait the more the price will increase.
The bundle went live on Tuesday. We emailed our lists, posted it to our social media accounts, and watched the sales start to pour in. The price started at just $1 and got to $233 as of writing this article. Netting us $26,680.
It’s impossible to know if we could have priced the bundle at $99 and sold 260 units, but I’d be willing to bet we couldn’t have done that in the first 48 hours. What we do know is that even if the bundle gets up to $1,000 it’s still a 60% discount on the total value.
Some additional numbers: 6,810 unique visitors and 852 people clicked the purchase button(s). Between our two mailing lists we have over 21,000 subscribers and a total of 65,000 followers on Twitter and FB. Our total expenses for the bundle website and sharing bonus are $3,000. And because the majority of the products in the bundle are our own (or friends) we don’t have to split the profit with anyone.
Pricing itself can be a vehicle for marketing. Give unique pricing a try for your next product or service. Better yet, maybe try to package up some existing stuff and get creative with how it’s sold.
Update #1: You can now use Bumpsale.co to sell your own digital product at incremental pricing!
Update #2: Our final revenue numbers with the Bundle of Awesome ended at $41,184 with the final bumpsale sale price of $287. That breaks down to just over $3,400 in revenue per podcast episode (12 episodes in our seasons).
