Thursday, November 29, 2012

Product Bundling – A Win Win for the Holidays!

The holiday season a perfect time to offer bundled products. The obvious benefit of bundling products and services is increased sales and profits. But if you think about, there is a lot more involved in this process.

How does bundling benefit you?

Bundling products is the best way to leverage your marketing efforts. You don’t have to spend your precious time and energy on selling products and services individually – rather, you can do it all at once. The less time you spend on messaging means you save money. Furthermore, offering packages also helps you push out products that may not do too good all by themselves.

In addition bundling also makes it difficult for customers to compare apples to apples. While a competitor may offer the exact same DVR set, if yours is bundled with a receiver or extra camera the consumer can't really price shop. Larger electronics wholesalers such as Sony have been taking advantage of this tactic for years.

What is VALUE to your potential clients and customers?

When you are bundling your offers, you should be able to significantly lower the unit price, greatly increasing the perceived value in the mind of your consumers. The perceived value is the real deal that makes the difference. This impresses your clients and consumers hence, rapidly increasing your chances of making sales. Brand your package deals distinctly to clarify what is offered in each “option." Consider using: Family Package, Small Business Package, and Multi Platform Package…and so on. For example, an offer in the Small Business Package might be “With the purchase of a receiver, get TWO cameras!” The customer may not realize that they could really use the extra camera - until they see it bundled together. SOLD!

KJB's new SleuthGear Complete Covert hidden cameras are great way to put bundles together. We'll keep posting ideas. Click here for the first one.

No comments:

Post a Comment