Sell Smart to Increase Your Profits (Part 3: Package Products Together)

Packaging products together is a fantastic way to offer customers exceptional value and at the same time increase your average transaction value.

Packaging, cross-selling and up-selling all help you increase your average transaction value, however with cross-selling and up-selling you need to wait until the customer makes a purchase before you can recommend add-on products.

When packaging products together, you’re combining two or more products or services together and proactively offering that to the customer upfront.

There are TWO distinct advantages of packaging products together:

  1. The average transaction value is likely to be much higher than when you simply cross-sell because you could be packaging three or four products together. With cross-selling you might just have one or ate the most, two add-ons.

  2. You can actively promote the package as an inducement for people to purchase. Promote it in your advertising, at point-of-sale and as an up –sell when people purchase.

 

There’s an art to putting together an amazing package offer. It isn’t simply a matter of bundling together any old unwanted, unrelated items together as a package, just for the sake of it. You need to offer value and you need to offer products that are of benefits to your customers.

 

Here’s some examples:

  • Butcher: Barbie Lovers pack – 2 kg rump steak, 12 BBQ sausages, 1 kg of rissoles, 6 chicken kebabs.

  • Restaurant: 3 courses for $50 – Set price menu featuring selected entrees, mains and desserts.

  • Furniture retailer: Bedroom Package – Queen size bed, two bedside tables, chest of drawers, two bedside lamps.

What You Can Do Today:

  • Educate your team about the importance of packaging goods and services together

  • Decide on a package offer

  • Create all marketing material to promote package offer – ads, point of sale signs etc.

  • Train team on selling the offer