Small Business Marketing: 3 rules of bundling = fast $$
Here’s a very simple, and comparatively quick way of making some extra cash — fast.
It’s called ‘bundling,’ and it’s done all the time in consumer goods industry — especially things like entertainment. You just package a few products together and then offer some kind of high value perceived deal for them.
For instance, if you like music and you’re older than 20, then you’ve no doubt bought a boxed set of CDs at some point in time. Maybe you have Eric Clapton’s Lalya Sessions or something like that. Or perhaps your movie buff and you’re into The Godfather – you probably went out and bought The Godfather 1-3 in a nice box, when they were reissued, right?
The concept of bundling is very simple – you offer more for a perceived value discount. There are just three things you need to remember when it comes to bundling:
1. Make sure you explain exactly what’s being offered. With RARE exception, never assume your buyers are intimately familiar with all your goods and services. People generally need to hear, see, smell and feel what you’re offering before they buy. Share your story.
2. Explain the value of the bundle. In other words, if you typically do an oil change for $30 and a 7-step automobile diagnostic for $25, and you’re now bundling them both for $40, then let people know you’re offering them a $15 discount. Again, this gets back to just sharing your story.
When it comes to marketing, assuming your buyers know anything, is dangerous. Not because they are stupid – quite the contrary. Believing your buyers are already aware of your prices and your products is just foolish. That’s like the zoo assuming you’re already aware of all the animals and exhibits they have, before you get there. They don’t, and that’s why they have brochures and maps available when you walk in.
Explain things thoroughly so your buyers understand what’s going on. This is one of the reasons long form sales copy works (at least, GOOD long form sales copy works, anyway) — because you usually need more than a paragraph or two, to explain what’s going on — your buys weren’t born with this knowledge already in their heads.
Life isn’t that simple, and Lord knows business and communication isn’t that simple, either.
3. Going back to what we talked about yesterday — if you want to get the most bang for your buck, then make the packaged goods or services available only for a limited time, or only issue a limited number of them.
You can sell 10,000 first edition sets of Harry Potter movies, for a lot more than an unlimited number of them.
Got it?
Good.
Simple, isn’t it?
Now go sell something, Craig Garber
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