Product Mix 

Why you should start to consider mixing your products and services

Whether you’re selling products or services. You may at the moment just be selling these products by themselves. Of course, that seems the easiest thing to do. However, you are missing a big trick by missing out on any cross-selling or up-selling opportunities. Each opportunity that is lost is a potential sale that has just drifted out the window.  So we are going to look at ways in which you can start mixing your products and services and how the mixing of these products and services can help boost your businesses sales.

Start to consider if you could start selling packages

Putting multiple services that your small business offers into ‘packages’ can not only make the lead or customer feel like they’re getting more value. But at the same time from an organisational point of view, it allows you to manage your workload for each month. So what do we mean when we say packages? Well, let’s take a content writing business for example. You will have different forms of writing that you offer. These can include copywriting, social media posts, lead magnets, blogs and much more. An example of a few packages that could be offered are:-

Now from the above, you can see for each of the packages the customer knows exactly what they are getting each month. This can help them in planning what content they are going to want to need for that month. It also allows for you as a business to forecast how much work you have upcoming for the next month and be able to plan and apply your resources where necessary so that you aren’t at any point understaffed or overstaffed.

What If I Only Sell One Product Or Service?

As attractive as it sounds to start putting your services into packages you might find that this impossible for your business solely down the reason that you only have that one product or service. Now you might think what’s the point in reading on if I can’t combine my products or services? Well, what we have discussed so far is only one of how you can start mixing products and services.

The option that is still open to you is through collaboration with another business. Now we don’t mean collaborating with a competitor but finding businesses that sell products and services that your service can compliment. One example could be if your business is in SEO or Search Engine Optimisation. Now, we all know that SEO can only be done if you have a website that has been mapped on all of the major search engines. So if you don’t offer website design why not collaborate with a website designer? Together you could offer a package where for £XXX/Month not only do you get ongoing website support but also continued SEO integration and revisions.

Collaborating with another business is not only a great way to increase your sales but also an effective way of growing your brand. As not only are your brands and services being targeted to audiences that you’re marketing towards but also the collaborating companies' audience as well. Essentially you’re at least doubling your online exposure. 

Reaching the JV stage

If your collaboration with the other business starts to become fruitful and consistent with sales on the up-and-up. You may want to look into signing a joint venture. We go into what exactly a JV is in much more detail later on in the guide but if you want to see it now click here, however, we will briefly touch upon what it could mean for you and for the business that you’re collaborating with. To go into business together you would need to sign what is called a joint venture agreement. This essentially the legal framework for how both of the businesses and how the financial side of things are going to work. For example, for every client, you refer to the web design business you would get a certain fee and vice versa with them and your SEO business.

Keeping It Simple For The Customer

Another reason why you should be considering offering packages and cross-selling your products and services is that it’s simplifying the journey for your customer. For the customer to have to add each of the services in manually and pay for them separately can not only elongate their journey but it can also start to frustrate them. Whereas allowing to purchase all of their services within one package means it is just the one touchpoint that the customer has to go through on your website. All in all, this means the more simple that you make the customer journey the less chance you’ve got of them leaving and thus the more chance of securing that sale.

If you want to know more about mixing up your products and services don’t hesitate to get in touch and we can sit down and have a look at how your business can start cross-selling and up-selling. In the meantime read on to find out other ways in how your small business can start GROWING SALES

The PDF Version
10 Tips To Grow Sales In Your Small Business is a pretty long read.

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