■Package Deals: A Psychological Business Strategy Worth Adopting
Any business looking to up sales should read closely.
When we talk about package deals we talk about selling a multiple products as a unit, we talk about selling a collection of items in one solution.
The deal is to package these items in a way that consumers will find it valuable, beneficial and cost effective. Remember that consumers are always looking for ways to save some money; consumers are always looking for avenues to get more value from the money they spend.
So when consumers see that a bundle of products is useful and cheaper than when they buy it individually, they will patronize such.
Some of us do buy these bundles during festive seasons like Valentine and Christmas where we see them colourfully wrapped as gift items. A lot of businesses no longer wait for festive season’s, it’s become a regular business strategy. You too should adopt it.
For instance I recently visited “Chicken Republic” a fast food business and I was offered a deal, a meal that cost about $2, that’s #900, and I snapped it up and have been buying lunch from them. This deal usually will cost more than $3 when you buy them separately, talking about fried rice, chicken, a can of soda and a plate of salad or moi-moi only it’s a reduced version but it’s a good deal, you could see company staff ordering food in large quantity for their staff because it’s really affordable and saves time. Airlines now include hotel accommodation and meals for their customers, so they just pay once and get it all, it saves them time and stress.
Package deals appeal to the psychology of consumers in a lot of ways:
▪It is attractive to them
▪It saves them time and it’s not stressful
▪And they get greater value for their money.
It helps you as a business owner to sell more, you also sell items that are not easily sold. Just include them with hot selling items and package it in an attractive way.
•Wedding Planners do this, they save the couple a lot of stress by taking care of the cake, food, decoration etc
•Coaches do this by offering a bundle of courses for a reduced fee
•Book authors do this, by selling a couple of books, workbooks and CDs for a fee.
If you’re into hair products you can package your weavon alongside hair cream, shampoo or even comb and brush and sell it together. This strategy will give you more results.
I’m rooting for you!
🥂To your continued business growth and success