Last May 2013; I heard a knock on the door. I opened the door and saw the water bottle delivery man along with a lady standing in the passage. And she said sir we have a special offer for you …
- We are giving you water bottle for a special price of AED 7.00 and here is the water quality test reports giving it the PREMIUM quality approval. And she handed over to me a brochure of Premium Quality test.
- Sir, If you purchase booklet of 7 coupons for water bottle you will receive one free coupon. And today we are giving away water dispenser worth AED 30.00 free of cost along with the booklet.
- Sir, We visit your building every Saturday to deliver water and in the interim period if ever you need more water please call us on this number.
We had been purchasing water bottle from the supermarket located on the ground floor of our building but this time I did not think twice and grabbed the offer. Purchased the booklet for AED 70.00 and promptly set up the water dispenser. Later on I wondered why did I purchase and pay AED 70.00 in advance. My analysis in simpler terms came as follows
- I was getting 1 bottle free, costing AED 7.00; instead of 7 bottles I was getting 8 bottles for the price of 7 bottles
- I was getting the water dispenser free of cost that cost AED 30.00
- In her pitch she addressed all my concerns – Premium Quality water, 1 free bottle, 1 free dispenser and they visit every Saturday for refill. And in the interim period they were a phone call away
- Finally this offer was new and addressed my convenience and saving.
Or in customer centric terms this was new offer, unique bundle, cost saving, Premium Quality water and offering operational convenience. Later in the month another vendor knocked on the door and introduced a similar offer with a AED 6.00 per bottle but I did not switch because I did not see any innovation in his bundling or significant price or convenience saving to change my habits. The research says
- Consumer will switch provided your offer is unique and has perceived value.
- Consumer will pay more for more benefits/value.
- Research says that to sell; bundle offer in such a way that the two complements each other. People are easily convinced on cross sell when the two items are related and complement each other such as water bottle with dispenser.
- Research also says that don’t give a long list of benefits because it confuses the consumer. Hence state not more than 3 – 4 benefits.
- Research suggests make it easier for the customers to build his purchase impulse and do all the thinking on customer behalf.
Happy selling and safe drinking