*** Create Big Profits By Doing The Bump
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It is common knowledge that the best place to sell your products or services is to a crowd of people that already want them. Once you have created a client that is buying from you, the next easiest place to make a sale is to that same person. And why wait for another time, why not make another sale while their wallet (or purse) is out.
This is referred to as a "bump." All you are doing is bumping up the size of the transaction while it is taking place. Without trying this you are leaving a substantial amount of money on the table, or in this case in the wallet.
Now I'm sure you are already aware of this technique but just haven't really thought about it much. Do you remember when you used to go to your favorite fast-food restaurant and they would always ask "Do you want fries with that?" That was the bump at time of purchase and it worked extremely well for them.
Well now that has changed. These restaurants got wise and decided to change the menu to combos. The burger or "sandwich" now comes with fries and a soft-drink. How convenient, you can just ask for your favorite combo and the price already reflects the whole meal. Now instead of that smiling young face on the other side of that laminated counter having to ask "Do you want fries with that?" they are taught a new kind of bump.
If you were to simply ask for burger, oops...sandwich, they will ask you a carefully rehearsed "Did you want that as a combo or just the sandwich?" Human nature and behavioral psychology tells us that it is much easier to just say "yes" than it is to say "Just the sandwich please." This simple question results in a significant number of people bumping their order up to the combo.
O.k., so now you're wondering what this lesson in fast-food has to do with your business. Well just think of the next time you are closing the sale with one of your customers. Wouldn't it be easy to tell them about an "in-store special" or "unannounced promotion" that you are offering right now? And then you tell them about the combo or bundle you have put together that they can get right now, at the time of purchase for the low, low price of only $xx.
Here are a couple of examples in order to make this word picture a little clearer. Let's say you run a hair salon and after a cut your pleased and newly quaffed client is standing at the cash register ready to pay for their fresh new cut and style. Instead of just ringing in the price of the treatment you look at them with a smile and ask them if they would be interested in today's "in-salon special" and explain to them the bundle of hair care products that separately would cost $xxx but today as a specially offered bundle they are only $xx.
Not everyone will take you up on the offer but a significant number will and this when averaged out over the number of clients per day, number of days per week, multiplied by 4.3 weeks per month and 12 months of the year will be a substantial increase in profits for the salon.
Starting to make sense?
This works in any type of business, whether it is products or services, wholesale or retail, it doesn't matter. And it is limited only to your imagination.
So the next time you are worried about the size of your bottom line... do the BUMP!!
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