Product Bundles: Unlock new Possibilities and Boost Profitability
01/12/2020 | Blog
Tougher times call for easier cloud customer journeys
2020 has been a strange year for everyone. As well as riding a pandemic unprecedented in modern times, it’s been the year when businesses have adopted online collaboration – and the cloud-based services that enable it – like never before. Transformations that might have taken years under business-as-usual, have been railroaded through in weeks or months. With everybody’s head now more firmly in the cloud, CSPs are seeing resellers and end customers demand an ever-wider variety of products – along with more cost-effective and straightforward ways to purchase them.
Product Bundles helping drive margins for CSPs
Product Bundles – which enable multiple products or services to be combined in a single package – help meet these galloping customer needs. The functionality is available on the interworks.cloud platform, for subscription-based products – and it’s earmarked for wider rollout over time.
It means distributors and service providers can say “goodbye” to having to tailor bespoke packages for their customers (using functionality that’s really designed for single products), and “hello” to new go-to-market (GTM) options. interworks.cloud makes it straightforward to cross-sell and upsell products and services. You can create product bundles targeted at specific customer niches and their needs; and, critically, you can link products from external vendors with your own higher-margin services. You might combine Office 365 with 500GB of cloud backup for an enterprise user or offer cloud infrastructure packaged with your own managed services.
The results can be powerful: increased profitability, more market share, and higher customer satisfaction with less churn. In short: better customer stickiness and lifetime value. Bundling is a real win for your customers too, because they can see their options upfront on Storefront or BSS, along with the suggestions for relevant add-ons. What’s more, they benefit from a smoother, time-efficient purchasing journey as well as any discounts you might offer for buying a bundle.
Bundling is straightforward – and your customers will love the simplicity too
The functionality on the interworks.cloud platform is mix-and-match and can be applied to all types of subscription-based products. Your customers can bundle two or more different services and add-ons — known as sub products – whoever the vendor and whatever the technology. In fact, they can bundle just as many subscription-based products as they like, with no limits on product type or category. Bundling on Storefront or our BSS platform is straightforward: you just create a bundle product, define the sub products you want in it and their prices, and then publish. When a customer places an order for the bundle, the platform calculates the sales price and cost automatically, using the sub product pricing rules you’ve defined.
As well as making the purchasing journey easier, the simplicity lasts long term too: both you and your customer can manage a raft of sub products through a single, bundle subscription – while still keeping the convenience of separate subscriptions for provisioning. And, once the order is complete, your reseller or end customer can easily track the cost of the bundle, because the interworks.cloud platform automatically generates an invoice for the solution, which is simply the total of the sub product prices.
Get started now
All development work on our platform is aimed at helping you better meet your customers’ needs, grow your market share, and evolve with the constantly changing cloud landscape. We know that offering bundles to help you unlock new GTM possibilities is an important thread in this. Find out more on our Bundles Datasheet and differentiate your offering by getting started today!