Tips for Pairing Cash Products and Funded Products
- Educate your workforce about products, merchandising and pairing strategies,
who in turn will educate your customers.
- Partner with the right manufacturer offering help in pairing products and
overall merchandising strategies. Seek out assistance and direction from
manufacturers who are intimately more familiar with their product lines and
have success stories to share, such as what’s worked and what hasn’t worked.
- Know the socio-economic mix of your customers to determine ability to pay
for cash items you feel will be good for pairing.
- Once committed to product pairing, track activity, determine a realistic time
frame and quantify break-even levels.
- Conduct a promotional product of the month by creating a contest by pairing
a particular product(s) by disease state.
- Make sure to measure the before and after results — how much additional
revenue did you garner?
- Reward your staff for buying into and helping to implement your product
pairing strategy. It doesn’t always have to be a monetary reward —gift cards,
parties, and time off work well.
- Build off of what you do best (oxygen, mobility products, bath safety, etc.),
think about what the customer would also need with those items, and layout
a solid plan of attack on how to sell it to your customers and maintain it.
- With less disposable income, consumers are looking for value. Offer value
when pairing products.
- Make sure you have your staff understand how these like products interact
with each other.
This article originally appeared in the April 2012 issue of HME Business.