You’re in the checkout line at the grocery store, navigating a full cart.
“A Cookies & Cream Hershey’s bar?” you think, “Huh, that sounds good.”
You throw it in the basket. What’s one more item? You’re hungry.
I practically don’t even need to write out that story because you know exactly what I’m talking about, don’t you? That grocery store effect, that “why not?” purchase at the end of an exhausting shopping trip. It happens to the best of us.
The grocery stores know you’re hungry and vulnerable, and your decision making ability is worn down after comparing prices for so long. That little impulse purchase at the end doesn’t seem like much to you, but for the grocery store, it adds up.
The idea of pitching related products to customers going after that “one more sale” isn’t a new one, and you may have already used it in your own business. But its uses stretch far beyond merely suggesting that your customer orders sweatshirts along with their T-shirts.
In today’s article, we’re diving into different ways you can use related products to boost your bottom line in a big way.
Selling related products in your online stores
Add-on products are an effective way to grow your sales without much extra effort, whether you’re selling through your own store or a branded store for a customer. In the InkSoft Online Stores platform alone, we’re seeing average transaction amounts in the $50-60 range, with average store revenue around $1200.
So let’s break down the math. That’s roughly 21 orders per store, which means an add-on purchase of $8 would be an additional $168. Multiply that by several stores that you’re running, and suddenly that’s a nice little buffer added to your month’s revenue.
Small add-on products can make a dent. The trick is selling the right ones.
What makes a good add-on product
The best related product is tied to the shopper’s main purchase and has a high perceived value. One of the easiest ways to add value? Personalization. You’re in the right business, my friend.
A great example is custom yard signs, like this one:
It lets proud parents boast that their kid is on the local team. If you’re already making signs, and you’re already working with school sports teams, this product is perfect with a low-cost production and a high perceived value.
Another way to generate a few extra dollars is by offering upgraded versions of what you’re already selling. This is called versioning, and it’s a time-honored technique that gives high-spending customers the option to buy a more expensive product.
There are tons of products you could use as add-on related items. Here are some practical ideas to get you started:
Spirit stores
The trick with spirit store products is to focus on the kinds of gifts fans might buy for their family members. If they’re buying a sweatshirt for grandpa, they may be willing to throw in a mug as well. Or, if you do vinyl, what about high-quality stickers of the school mascot? Bonus””print a coupon code on the back of the sticker as a thank you!
Company stores
Let’s say your client wants you to create a store for employees to purchase backup uniform pieces. The employees must have a branded apron, but they can wear any white shirt they want.
That’s all fine and good, but what if you offered branded white performance shirts right in the store? The higher-grade shirt would be attractive to employees who don’t want to go searching for good white shirts, and management would enjoy how the overall appearance of the staff would become more polished as more employees take that route.
If your customer’s employees work in an office, consider what kind of products they might want to improve their work life. In the company store, maybe you offer a clever mug with a witty caption that relates directly to the company. Or what about branded tote bags and padfolios? With the right suppliers, the opportunities are endless.
Team uniform stores
For sports teams, great products to upsell are non-vital athletic gear. Everyone has to buy their uniforms, but for those who are willing to spend more, what other products might they be interested in? Think water bottles emblazoned with the mascot, or alternative, higher-quality practice gear. Team branded duffel bags, drawstring bags, and “Property Of” style T-shirts are also crowd favorites.
Finally, remember that add-on’s don’t have to be separate products””you could charge an extra few dollars for custom personalization options, such as the player’s name added to the back of a hat.
Want to learn more about running profitable online stores?
We wrote a whole e-book on it, just for you. Learn how to find customers who will want to set up stores with you and how to manage the inventory like a well-oiled machine.
