HPS029: Bundling Services to Eliminate the Paradox of Choice and Beat Your Competition - Contractor Momentum

HPS029: Bundling Services to Eliminate the Paradox of Choice and Beat Your Competition

Contractor Momentum
HPS029: Bundling Services to Eliminate the Paradox of Choice and Beat Your Competition
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Having to rely on estimates is a system that has proven efficient for businesses which depend on sales, but this system also has its fair share of drawbacks that could be improved. Fortunately, we discuss a fresh alternative that could be a total game changer in this episode of the Home Pro Success Show.

Here’s what we covered:

00:20 How to contact us through the Home Pro Marketing and Sales Lounge link. Why it’s a killer resource you should tap into

00:57 Certain drawbacks that make the estimates system difficult or problematic when it comes to sales, as experienced by my company

  • Our former way of pricing out projects and discussing with customers for optimal results, which tended to lead to demands for more variations of customer preferences
  • The process of having to line-item numerous things and come up with multiple prices for essentially, a single project
  • How estimates don’t narrow down the options enough for unsure customers

3:23 What the Paradox of Choice is, and how it affects sales negatively

3:45 How to eliminate the Paradox of Choice

  • Example of an actual scenario where bundling was advantageous for my business
  • How bundling can work to your advantage and set your company apart from competitors

6:03 Classifying through bundling services

  • What horizontal bundling is
  • What vertical bundling is
  • How to classify horizontal and vertical bundles into tiers which guide people through narrowed down preferable options

11:50 Advantages of bundling services, in conclusion

  • Making use of price bundling to reassign the sales value of products towards customers’ perception.
  • How it’s easier to make more sales while having to consume less time in doing estimates and also making it harder for competitors to compete in the market

15:20 Thoughts and feedback

Facebook Group: https://www.facebook.com/groups/896216427196514/

Corey Philip
 

Founder & investor in home service companies. Aside from running these businesses, I love trail running and mountain running.

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