Creating the Value

With the holiday season upon us, now is the best time to maximize your profits, time, and production. The best way to turn a $15 product into a $50 product is creating more customer value. This means offering a unique product, addition, or customization that consumers cannot find elsewhere. Not only will they pay top dollar for high quality, distinct products, they will become returning cliental and send referrals. Here are our top 3 ways to increase the value of your products and, ultimately, revenue for your business:

Compelling Design and Customization

Design and color are a large part of the sublimation industry. Adding more personalization options and compelling artwork effortlessly raises the value. Go the extra mile when creating artwork and personalized designs for customers. A great way to start is to use personal photos. For example, consider these mugs:

The leftmost mug is a great example that has been customized with a name on it, retailing for about $5. The second mug has been customized with a pattern and initials. With this design, the customer has a chance to pick their colors and the word formatting. Simply by offering this customization option, you have increased the value by roughly $10. The third mug is something unique that very have. It is a full color, customizable, top-to-bottom image with a featured handle design. This mug, because of its unique characteristics and customizability, will sell for about $25, with added production time only amounting to an estimated 5 minutes.

Offering a Unique Product

Customers are more eager to purchase and appreciate one-of-a-kind products they know cannot be found anywhere else. Consider revamping your product line with innovative and out-of-the-box creations that will benefit your shop by differentiating it from competitors. One example is to stack metal.

Here we have a $10 photo panel that looks great and any customer would be happy to have it. However, you have hundreds of other companies out there offering the exact same product, often cheaper than you are. So, to gain consumer attention and add value, you need to differentiate yourself. Just by adding a $2.50 mounting block and a $6.50 additional piece of metal to give a 3D effect, you now have a product that people will take notice of. Additionally, you have now increased the value of your product by $30.

Bundling

Building and offering a selection of related products at a discounted cost is an excellent way to build value. Bundling products makes for excellent gift sets, especially during the holidays. Furthermore, this is a different strategy that encourages customers to purchase a various array of products at one time. For example, let's look at pet products.

A customer is considering purchasing a personalized dog collar for $15-$25. Now, if you provide the options for bundling a matching personalized dog tag and leash with the collar, you have the opportunity to make a sale of $40 instead. This, in return, provides the chance to increase revenue and sales for your business.