Using Add-on Services to Drive Revenue
Timely Tips #1
How service providers can use add-on services to drive revenue and customer value.
Service bundling refers to selling two or more related services together under one SKU (so only one item is added to the order), usually at a lower price than purchasing items individually.
By offering a package of products together in exchange for price discounts, customers get rewarded by saving money. The goal is to foster loyalty and trust... ultimately increasing revenue and customer lifetime value (CLV).
TimelyBill enables service providers to manually create add-on products and services into a single group and sell them as a complete offering. For example, add-ons for SIP trunks could include DIDs and PBX phones.
Our product catalog also allows the configuration of automatic service add-ons. TimelyBill can automatically add a hierarchy of products and services to orders using this setup. For example, when an online shopper purchases an internet connectivity bundle, a monthly data package, modem, and router are automatically added to the order. The purchase is lower than it would cost to buy those items separately.
To create effective service bundles, you need to understand the consumer mindset. What are they looking for, and how can you give them more value with add-ons?
Selling add-on services helps providers increase their average CLV and boost revenue from existing customers.
For help configuring TimelyBill add-on products, please contact our support team via a ticket request. Not yet using TimelyBill? Contact us for a quick conversation ↗️ to discuss your billing and CRM needs.
This is the first in a series of "Timely Tips" blog posts introducing some of our billing software's more advanced features. Be sure to check back regularly to learn how you can take advantage of our sophisticated BaaS toolkit.
