To make more money from what you are already offering, consider different strategies to make it easier for people to purchase your services / products. Restructuring your pricing and packaging creates more options for your customers.
Here are some examples:
1) Add them. Offer your services in monthly increments. Instead of working with people on a session-by-session basis, offer a service package. For example, a personal trainer may offer training series for 3 months, 6 months, or a year. Add value by including a workbook to record training progress. You can also create advance levels to create more options for clients. Consider a silver, gold, and platinum program. Each tier is priced higher and offers more value to your customers.
If you offer products, consider other ways to group things. For example, a garden store might put together a spring garden pack that includes flower bulbs, a trowel, wildflower seeds, and gardener’s gloves. A restaurant could start packaging its sauces and selling them to customers to take home. A life coach could put together a notebook and CD to sell online.
2) Change the use of the product. Railroad ties are now used as decorative elements for landscaping. I’ve also noticed that antique stores offer faucets as hangers. And what about those rubber bands that people use for workouts?
Arm & Hammer Baking Soda has this strategy marked. The product was originally for baking. On its website, the company also suggests that you use baking soda for brushing your teeth, deodorizing your dog, putting out fires, washing your hands, rinsing your mouth, and for children’s crafts. As a result, a simple product that can only be bought from time to time has become a must-have.
3) Change your pricing options. Offer your customers the option of paying in installments. Offer a discount if customers buy a service earlier or in bulk. Offer a credit card option or allow people to shop online. Offer people coupons, discounts, frequent shopper rewards, or loyal customer rebates.
4) Offer it in a new way. A book or workshop can be turned into a CD program. Some prospects may not have time to read a book or attend a workshop; But with your new packaging option, they can listen to your show on the go or at the gym on your mp3 player. A used furniture store could paint some of your antique chairs or frames in creative colors and sell them as functional art.
5) “More”. There’s a term called “plussing” that comes from Walt Disney’s constant efforts to make a good idea even better. An example of this is adding a scavenger hunt game to the Haunted Mansion waiting area at Disneyland Park; now even the pre-trip part is fun. Hallmark Cards also uses the concept of plussing. When their creative team develops a new product idea, they invite all of their other divisions to follow the concept and create additional new products.
ACTION STEP: Take a look at its packaging and price. What works well at the moment but can be expanded or improved? How can your services or products be grouped? What pricing options can you add? How can you make your products / services even more remarkable? By providing a variety of options to customers, you will get more sales.
