While we focus on summits around here, we believe in the power of using multiple marketing strategies in combination with summits, and the truth is that bundles are another great strategy to build your list, revenue, momentum, and connections. Hosting both summits and bundles can go hand-in-hand!
Since we've gotten a lot of questions about hosting bundles over the years, today I brought on Kate Doster, creator of the course on bundles, Collaboration Cash-In to share more about the power of bundles and how you can start incorporating them into your marketing plan.
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Episode at a glance:
[4:25] Kate kicked us off with a story about how she first learned about bundles years ago before they were starting to become common in the online business space. She then shared how she got her start by participating in bundles that helped her to grow her business before she hosted several of her own, and then teaching others how to host them.
I love bundles for so may reasons, but one is that I really like helping other people build their businesses. With a bundle, you are going to get your contributors so many email subscribers, and they're gonna love you forever. If you've ever wondered to yourself, "how do I go from being a best kept secret?" Get people results. It's the same way you get clients and customers; get people results. Who doesn't want to hang out with somebody that helped them get like 500 email subscribers in a week, when all they had to do was send an email that you already pre written for them? Everybody wants to be friends with that person.
[8:47] After talking about some of the many benefits of hosting a bundle, Kate shared more about the differences between free and paid bundles and shared tips on how to see the best results as a bundle participant. She recommends making sure you have a compelling and quality bundle contribution with a strong follow-up email sequence in order to see results beyond just list growth.
[10:12] Now let's talk results! Kate's first bundle brought in 4,000 email subscribers to her list, but she also made $14,000 from a free bundle based on her system to monetize a free bundle if you're the host. She suggests that if you have under 5,000 email subscribers, to host a free bundle to bring in more subscribers. If you have over that, you're probably doing some good stuff with your business and a paid bundle would be effective.
[13:42] We also broke down some of the differences between hosting summits vs. bundles, and Kate shared more about the tech and pages that you'll need to create in order to host a bundle. While a bundle might not give all of the same benefits and immediate revenue that comes from a summit, there are definitely parts of hosting a bundle that are easier than summits.
[16:36] Summits and bundles don't have to be an either/or situation, and Kate recommends trying both to see how they can work together to leverage the best parts of each. Both will grow your audience and both can bring you revenue. She also recommends taking 90 days, just like a 90-day timeline for summits, because you need time for people to respond to your pitch, send you their information and contribution, and time for everyone to promote the bundle.
You can have a summit one quarter and then maybe give yourself a little bit of a break, and then the next quarter host a bundle, whether you want it to be paid or free. That way you can compare the results, and the return on time, because everything is going to be a little bit different for everyone. And what's really great is that if you've already hosted a summit, you have a whole network of speakers to reach out to for your bundles.
[20:07] While Kate recommends starting with a free bundle in most cases, there are some key differences to keep in mind if you decide to host a paid bundle. She suggests dialing in on the gifts that you'll have. For example, Krista would be the only one talking about summits if Kate had a paid bundle so that Krista could get the most benefits. Each contributor is carefully selected. The great thing about free vs. paid is that it's very easy to turn your free assets into your paid assets.
[24:25] If you're not seeing the momentum you want, consider hosting a bundle. You can team up with 10 contributors who are excited to hang out with you in this space, build connections, and everyone gets a huge influx of subscribers.
About Kate
Kate Doster is the host of the Do The Brave Thing Online Business podcast. It’s her sole & soul’s mission to put money in the hands of good people so they can do good with it. While eradicating the idea that nice people always finish last in business.
By sharing spammer face-free sales & fast growth techniques that even your grandma would be proud of you for using.
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