Are you looking for an effective way to build your own online store with little to no upfront costs? Looking to boost your income with a side hustle that you can do from anywhere?
When was the last time you almost bought something online? That moment when you got all the way to the end of the purchasing process – only to back out of the cart at the last second?
Topics: cart abandonment
As an eCommerce seller, you have to spin quite a few plates – product sourcing, marketing, customer service, and more. But one of the plates that's the easiest to overlook (yet can have a huge impact on your bottom line) is revenue leakage.
A vehicle without fuel can’t hope to get far on the road. Nor can a business hope to stay profitable without the engine of customer retention. Ask a seasoned entrepreneur, and they’ll tell you that even the best product or service is lost without a loyal customer base. So, what are the best strategies to retain customers?
Do you know what customer churn is? And more importantly, do you understand why it matters for your business?
Do you know your customers? You might think that you know your ideal consumer base, but stats show that many sellers lack the tools and insights to truly understand them. And missing out on key customer insights can lead to missed sales opportunities.
The best way to get to know your customers is to create and utilise a buyer persona. A buyer persona is a semi-fictional representation of your ideal customer – a stylised image of who they are, what motivates them, and how they think.
When you sell any product or service, you want to strike a careful balance between charging a price that leaves you with a profit and one that encourages customers to buy. Charge too much, and you may price out customers. Charge too little, and you may end up losing money on each sale.
But what happens when you take pricing below the cost of production? This tactic – known as predatory pricing – aims to drive out your competition by forcing them to lower their prices.
Topics: Pricing Strategy
Black Friday and Cyber Monday (BFCM) have become pivotal events for retailers. In our extensive 10-part pricing strategies series, we've unveiled a treasure trove of knowledge to help retailers thrive during this high-stakes season. Today, let's take a journey back through the series, highlighting key insights from each article.
In the previous nine articles of our comprehensive series, we've covered a wide range of pricing strategies and techniques aimed at helping retailers prepare for the intense shopping frenzy of Black Friday and Cyber Monday (BFCM). We've explored everything from optimizing your advertising performance to dynamic pricing, as well as simplifying prices, the power of incorporating shipping costs, alongside how to optimize your organic search position.
In the world of e-commerce, the battle for the top spot on Google Shopping is fierce. Many assume that the surefire way to claim the coveted first position is by offering the lowest prices. However, the reality is more nuanced than that. While pricing plays a crucial role in Google Shopping rankings, there are several other factors that contribute to a product's position. In part nine of our ten part series, we'll explore why being the cheapest isn't always the only path to the top during Black Friday and Cyber Monday (BFCM), and what other strategies can help you secure a prime position on Google Shopping over this promotional period and beyond.