Last week I was talking about the great strategy McDonald’s has developed to get more money from each order by asking one simple question: “Do you want fries with that?”
I already mentioned that you should measure your current numbers to be able to make changes and increase your own average sale. Today I have got 2 more tips for you:
1 – Change your product or service mix
Adding or subtracting to what you sell can help grow your typical ticket size. Take the case of a bakery that had an average sale of just $5. The problem was they offered virtually no higher-priced items. When they added specialty cakes and other premium goods, that figure jumped to $14.
The same effect can sometimes be achieved by dumping lower-priced products. If you sell three different toasters, drop the $35 model and the customer will spend $45 or $55 instead.
2 – Bundle your offerings
Encourage customers to spend more by giving them a package deal on multiple products or services. At McDonald’s, the bundles are Extra Value Meals that include an entrée, fries and a drink. At a car repair shop, it might be a tune-up and lube job rolled into one visit.
You can also bundle your time. One computer repair company that wasn’t making enough money charging by the hour started selling services in 10, 20 or 30-hour blocks. That new option yielded higher average sales and ensured return business.
Think about how you can apply this in your business to leverage your time and get better results! The next 3 tips will be online soon!!
To succeed... You have to believe in something with such a passion that it becomes reality - Anita Roddick
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