Sell more products and make more money with almost the same products… That’s the theme for our fourth Podcast.
No we haven’t gone mad, this is perfectly do-able and we are going to tell you, with examples how you too can use this to give your business a competitive advantage.
In this Podcast with Myself and Dave Furness we are going to discuss how you can use this to your advantage of this but MOST importantly we want you to TAKE ACTION.
Because this is may be new to you, above is a green play button. Press play and you’re listening!
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Sell More with the Same Products
This Podcast is all about action, we want you to listen to us and then look at the products you sell and think about how you could sell more with the same products.
We’re laying down the challenge.
If you don’t think that there are any natural items that you could bundle together with your existing products then let us know, and we will do our best to give you a couple of ideas.
The key here is to sell more with the same. This is something that you will of seen many sellers doing on the marketplaces over the years and if you’re not doing it, we are going to show you why you should be.
Customers on the marketplaces want one thing over any other, and that is Convenience. It’s why they use eBay & Amazon after all. They are going to these marketplaces rather than trawling the internet to find the products they want.
You’ll notice that I didn’t mention choice here, it’s because in the marketplaces there is an overwhelming choice of products to look at, but in the end, generally they are only ever going to buy one product. (hopefully yours).
A common question that I get asked through is: “Why don’t people buy from me?” The answer is simple, they’re either not finding you or when they are, they’re overlooking you because you’re not making a compelling argument for them to choose you.
As we mention in the Podcast these will probably be one of the following:
- A better offer elsewhere, from your Competitors?
- Lacking key details in description (As we mentioned here in our first Podcast)
- Poorer image?
- Are they getting something for Free?
And that’s what we’re suggesting you do, take the customer to the tipping point of making the sell. In the Podcast we take you through the four standard physical product business models which consist of
- Virtual / Just in time
- Asset recovery
Read more about the four business models here with some handy embedded video walk-throughs too.
The 5th one that we mention is the Hybrid model, which is a combination of all four of the product models combined, taking as many strengths and leaving out as many weaknesses.
In this instance we’re going to be making an edit to the Manufacture model and creating our own products from what we already have, but the manufacture model can easily be a Hybrid of the others combining different products to make a new product.
How to Make New Products?
So the key here is to make “Unique” products, set yourself apart from the competition and get people buying your product.
In the Podcast we use a lot of different terms for what we are describing. These terms are Kits, Bundles, Packs and Sets which all mean the same thing.
Taking your item, putting a smaller/ inexpensive item with this product and selling them together. Therefore setting yourself apart from your competition and hopefully taking the online shopper past the tipping point to buy your item.
We cover loads of examples in the Podcast of example products that can be bundled together and once you start trying to think of some we found more and more ideas came together, and we think the same will happen for you too.
This type of selling has been around for years and as I point out, one of my favourite TV Channels use it all the time to take their customers to the buying point. Best Direct TV Smart Pen
Here is a seller on eBay who has bundled a Free bottle holder with their nappy changing bags. See the listing here
A lot of easy examples can be found in consumer electronics and we talk extensively about iPads and bundling stylus’ or screen protectors with these items. They are incredibly cheap to source and could be the only difference between you and your competitors.
Below are a quick list of other items that we touch on briefly in the podcast:
- Books – With page holders and Markers
- Laptops – Cases, Printers, Keyboards, Anti-Virus software
- Handbag – Purses, Umbrellas
- Photo equipment – Light boxes, White screen, Tripods, spare bulbs
- Taking your item and selling multiples of them so packs of x5, x25, x50 etc
Whilst editing the Podcast we created a new kit of buying a stylus and getting a free screen protector and vice versa and in that space of 5 seconds we had created 2 new products!
Logistics of Selling Kits
There are a couple of issues that can crop up with selling kits and how the logistics of that will work internally with your business. As long as you are aware of these
- The logistics of stock control and order processing Maybe a shortened stock number to make them easily readable by humans (or your picking staff)
- GS1 Barcodes –http://www.gs1uk.org/pages/default.aspx For making unique SKU’s on Amazon and Google Product Base.
- Don’t forget to tell your staff that you are selling kits, so when it comes to picking and re-ordering they know what is going on.
Our Challenge to You
We want you to take what we’ve covered today and put it into Action.
Think about what products you have already that you can bundle together to make it easier for customers to make a choice, they don;t have to be cheaper products and as we explain later on in the Podcast with the extra section is that you can easily bundle related items together, maybe from a range.
Looking forward to hearing from you,
Dave & Matt