Thursday, October 9, 2014

Book Bundles: How to Earn More in an Hour

I learned this lesson about sales: it doesn't matter if it's a $14.95 book or a $50 bundle, the same amount of time goes into the sale. I discovered a while back after talking to people at book festivals and events and selling books that the sale is the sale time. Price points don't suck up the sales time. People want minimally around 10 minutes of your chat time before they buy. After working hard for that 10-minute sale and only making $14.95 it seemed like a lot of effort for little money, which is why I started to realize: the sales time is always about the same regardless of the price (unless it's a huge item). I figured that a sale for, say, $50 would be better if I was going to have to spend that 10 minutes no matter what.

Thus, I thought: bundles! Don't just sell a $14.95 book, sell something with the book -- T-shirts or something else but more than just a book. That way your per "minute" sales effort has a higher amount attached to it. And why does this matter? Well, do the math. If it takes 10 minutes to sell $14.95 (let's round off for the sake of math to $15) and there are only 6 10-minutes in every hour your sales potential is $90. Take that same sale and make it $30 sale x 6 = $180. You doubled your profitability. Instead of making $90 an hour you're making $180 an hour. It's the old adage: work smarter not harder.

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