Getting more money from each sale, or increasing the
average transactional value of each sale – that is,
getting more money from every purchase your
customers make has the potential to add an
immediate 30 to 40 percent in pure profits to your
bottom line. Using this technique, and making a
simple suggestion, fast food restaurants add millions
in profits to their coffers every day. They use the
Up-selling: Not selling anything additional – just
offering a larger size or more of the same item the
customer is already purchasing. Super-sizing a drink
or an order is an example of Up-selling.
Cross-selling: Or suggesting that your customer
buys an additional item that they didn’t intend to
purchase, is another effective way to increase the size
of the order. Asking if a customer wants fries with
their hamburger and drink is an example of how a
fast food restaurant uses this technique.
Packaging, bundling, or combining: several items
together and giving a discounted price is another way
to get your customers to spend just a little more and
get a better value. Happy meals or Value meals are
an example of this technique.
Each of these techniques only adds a little more to
the total cost of the meal, and aside from the actual
hard costs of the additional products, that “little
more” is pure profit since there are no advertising,
marketing or acquisition costs involved.