[op_liveeditor_element data-style=""][text_block style="undefined" align="left" font_color="%23788596"]In the past few videos, we covered upselling and cross-selling - which, as you know, are strategies for increasing your profits and building a strong back-end sales process. So, in this video, we continue with this theme and talk about a really simple (yet powerful) concept called bundling.
Bundling is a way to package up a bunch of different products and services together - giving your clients the best result possible - at one preferential price.
At a very basic level, consider the McDonald’s Value Meal.
You can order a burger, fries and soda separately or, save some money by ordering a Value Meal which already contains all three itesm. It makes it easy for the buyer to place an order and save a few bucks while they’re at it.
Microsoft also took advantage of this strategy.
Buyers can buy Microsoft Word, Powerpoint, Excel, etc. all separately if they want - or, buy Microsoft Office and get them all included for preferred pricing.
When Microsoft started bundling their software (instead of only selling them individually) - their market share increased by 542% in one year!
Just one of many possibilities when you include bundling as a strategy for your business.[/text_block][/op_liveeditor_element]