As I prepare myself to graduate in a couple weeks, I’m looking ahead to my housing needs once I move to Florida. There are countless purchase I will have to make, fortunately not all at once. There’s a phrase that continues to pop up in sales, especially when a person is in the process of moving: bundling a purchase.
A little time and research reveals that bundled purchases are not innately a bad choice, but they definitely can be at times. If you need a specific item, you may shop around until you find it. The best price for that individual item might come when it is packaged with other items. While it’s the best price, you may still be paying several hundred dollars more than you would have if you had just purchased the item by itself! Here the wisdom of Ben Franklin’s famous quote, “a penny saved, a penny earned” rings true.
As sellers, on the other hand, we need to recognize that buyers are seeking value. At times, the best tactic may be for us to bundle products for buyers who can’t resist a good deal, even if they don’t necessarily need everything in the bundle. We can decide how we want to package products, and it’s not ultimately forcing buyers to make a decision they don’t want to.
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Bundling is definitely a great way to bolster sales with customers who are simply looking for a deal or for those who a making larger purchases, however successful bundling requires an in depth understanding of your buyer personas and their individual needs. Bundling is a really nice thing for a customer if they were already planning on buying everything that was bundled, but usually it winds up helping the salesman make his quota more than anything else.
Customers really do love the feeling of getting a deal! The amount of times individuals purchase things they do not even need just because of the deal is always occuring. Great thoughts here! Thanks for sharing this idea and allowing salesman to realize there is value here.