With the holiday season upon us, now is the best time to maximize your profits, time, and efforts. What’s the best way to turn that $15 product into a $50 product? Create more value! This means offering a unique product or addition that customers cannot get anywhere else. Not only will clients pay top dollar for these products, they will come back for more and send referrals. Here we will outline our top 3 ways to increase the value of your products that will ultimately lead to more revenue.
Creating the value for products:
The first one is great, it’s a customized mug with a name on it. This mug can retail 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 format of the words. Just by giving this option, you have increased the value by about $10. The third mug is something that no one else has or can get. It is a full color, customizable, top to bottom image with a handle design. This mug, because of its uniqueness, will sell for about $25 and it only took you about 5 more minutes to produce.
Here we have a $10 photo panel. It looks great, and any customer would be happy to have it. But you have hundreds of other companies out there offering the exact same product, usually cheaper than you are. So, to make customers look at you and to add value, you need to look different. Just by adding a $2.50 mounting block and a $6.50 additional piece of metal, you now have a piece that people will take notice of. Plus, you’ve increased the value of your product by at least $30.