Today, I had a dentist appointment and after the dentist appointment (which by the way NO cavities) I stopped off at the local convenience store.  It’s called Wawa and if you aren’t familiar with it, it is a local chain mostly in the northeast and let me tell you, they have the best food and products.

Anyway, when I walked in I was looking for a breakfast sandwich.  I found it and right in front of the sandwiches it said ” 2 Sandwiches For $3″.  Of course, I was hungry so I bought two.  Now here’s the thing, I was only going to buy 1 sandwich but they sweetened the deal and convinced me that it was smarter for me to get two.

This brings me to the point here. There are really only a few ways to increase your sales and profits.  One of the best ways to do this is to increase the value of each sale.

This one strategy has the potential to add more profitability to your bottom line faster, easier and more cost effectively than any other method.

3 Easy Ways To Increase The Value Of Each Sale

Getting more money from each sale, or increasing the average transactional value of each sale – that is, getting more money from every purchase your customers or clients make has the potential to add an immediate 30 to 40 percent in pure profits to your bottom line. It is very easy to offer and I am sure you have seen this done before.  So the question is, can you do something like this for the products or services you offer?

Below are three very simple ways to do this.

• Up-selling – not selling anything additional – just offering a larger size or more of the same item the customer is already purchasing. Super-sizing a drink (McDonalds example) or an order is an example of Up-selling.  This is very effective and simple to do.
• Cross-selling, or suggesting that your customer buys an additional item that they didn’t intend to purchase, is another effective way to increase the size of the order. Asking if a customer wants fries with their hamburger and drink is an example of how a fast food restaurant uses this technique.
• Packaging, bundling, or combining several items together and giving a discounted price is another way to get your customers to spend just a little more and get a better value. Happy meals or Value meals are an example of this technique.

These examples are popular ones you are probably familiar with today.  The key is to think about how you can apply these strategies to your business.  It should be easy for you to come up with some ideas.

Each of these techniques only adds a little more to the total cost of your products or services, and aside from the actual hard costs of the additional products, that “little more” is pure profit since there are no advertising, marketing or acquisition costs involved.  Your customer or clients are already there to buy something and they are ready to give you money so why not try to have them give you a little bit more right on the spot.

In the Wawa example from above, I was ready to spend $1.79 for one breakfast sandwich, but they convinced me to spend $3.00 instead.  They just made an additional $1.29 just from me.  Doesn’t sound like much but factor in that 100′s of people will do it and Wawa  just made a lot more money that day.  And remember, it didn’t cost them any additional amounts in advertising.

If you are not doing something like this, or any of these things, you are missing a huge opportunity to bring in more revenue and more money to the bottom line of your business.