We all know that supermarkets are clever in their labelling, trying to make us think we see bargains where there are not. “Only £1 today” might be a special offer or it might be the usual price, or they might have made the packet smaller. We have to be wary.
Sometimes we see clever marketing which is quite admirable. One example recently was in the realm of amateur radio also known as ham radio. (Yes, I have had my licence since I was a young chap.)
There is a nice little hand-held radio transceiver available at a low price, but two organisations have teamed up to sell the radio at the same “bargain” price others do, but bundle it with some low price goodies. They still sell the radio at £70 as do others, but they include a book and a cap and a map too. The total cost of the extras is about £10, I should think, and that cuts into their profit margin per item, but the aim is clearly to sell a lot more. The smaller margin multiplied is worth a lot more than the larger margin with smaller multiple if they did not have the offer available.
You know what? I have it straight from the horse’s mouth that this ploy has worked and they are inundated with orders for the bundle. I might even join in the scramble though I do not need the cap.
Sometimes it pays to think beyond just selling your product or service. Giving more may well bring you far more business, greater turnover, and greater profit. It pays to be inventive in your marketing. Do you offer special bundles to your clientèle?