The gift-giving season is right around the corner. Set yourself up for success this year with these tips for building better holiday bundles.
Good, Better, Best
Today’s consumers demand choices. They want to know that what they’re buying fits their needs. But they don’t want too many options, or they’ll become overwhelmed. Consumer purchasing trends show that 3 choices is the sweet spot.
Furthermore, when presented with 3 options of increasing value and price — a Good Option, a Better Option, and the Best Option — most customers will purchase the Better Option. They do this because they believe this option offers the most value for the money.
How to Create Bundle Options
You can take advantage of this quirk of consumer psychology by offering good-better-best bundles with your courses. You do this by following these easy steps:
Identify the bundle you really want to sell. This becomes your Better Option.
Pick a less valuable, less expensive alternative. This becomes your Good Option.
Put together a high-end bundle with a lot more value but costs much more. This is your Best Option.
Finally, advertise them side by side so customers can easily compare the 3.
Creating bundles that protect your profit margins is key to a good sale. When offering a straight discount, you must sell much more volume to profit. Protect your margins by using course linking when bundling.
Pretty much any two courses you can link together make a great package. But there are some best practices to get the most out of your bundles.
Think themes. Bundle courses together that are thematically linked. This way, a customer interested in one is more likely to get excited about the others.
Eyes on training dives. Remember that divers can only do 3 open water training dives in a day or 2 training dives if they have done any confined water dives. Build your bundles with this in mind.
Best sellers for best packages. Don’t offer your bestselling specialties in your Good or Better Options. Your divers are going to buy those courses anyway. Only discount them in your Best Options.
Course and Gear Bundles
Bundling courses with gear is another excellent way to protect your profit margins. The higher markup on equipment means you can discount training a little without losing out. So, keep these packages simple by staying with one of these choices:
Gear credit. Sell your course at full price but offer a credit toward the purchase of related gear. For example, buy Full Face Mask Diver and get $50 credit toward a full face mask.
Course discount. Sell the gear at full price and offer a percentage discount on the related course. For example, buy a dive computer and get 25% off your Deep Diver course.
Holiday Bundle Ideas
Not sure what to bundle? Contact your Regional Training Consultant for ideas!
Marketing, bundles, gift, holiday sales, holidaysPADI Pros