How to Use Pricing to Improve Customer Retention

Posted by Moira McCormick on October 31, 2017

Setting your prices right and retaining customers can be hard.  However, get your pricing strategy right and you’ll be able to see both improved customer retention and increased revenue.

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Topics: Retention, Customer

4 Pricing Ideas to Kickstart Your Sales

Posted by Moira McCormick on October 24, 2017

Sales are fundamental to a company's success. Unfortunately, many companies do not consider the possibility of using pricing to accelerate their sales and win more customers.

Below are a few pricing ideas you can use to drive sales at your company.

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Topics: Sales

How to Build a Pricing Team of The Future

Posted by Moira McCormick on October 19, 2017

More and more companies are building pricing teams. These pricing teams effectively act as internal pricing consultants and are the "go-to" guys on how to apply pricing concepts - they understand both the pricing systems used within the company and the corporation’s objectives and how pricing contributes to achieving the required goals.

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Topics: Pricing Team

Aldi: The Discount Success Story

Posted by Moira McCormick on October 17, 2017

It's the supermarket success story of the year – sales at German discounter Aldi have risen above £8bn in the past year, which is up by around 13% on last year's figures.  It's definitely not the same joyful tale for Tesco, Sainsbury's, Morrisons et al who have seen much smaller growth for 2016.  Asda, which has always prided itself on being the “cheapest” of the big supermarket chains saw a growth of only 1% last year.

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Topics: Discounting, Discount

How Upstart Companies can Use Pricing to Beat the Competition

Posted by Moira McCormick on October 12, 2017

According to Jack Welch, the former CEO of General Electric (GE) “if you don’t have a competitive advantage, don’t compete”. In a nutshell, he meant don't bother getting into the fray if you don't intend to win!

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Topics: Competition, Pricing

Customer Spotlight - Electrical World

Posted by Emmanuel Aremu on October 11, 2017

Electrical World, a Northern Ireland based company started from humble beginnings and has quickly risen to be a leading independent electrical appliance retailer of CCTV, heaters, fans, lighting, lamps and wiring accessories.

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Topics: Customers

The Rise of Shrinkflation

Posted by Moira McCormick on October 10, 2017

It's an unwelcome fact that the value of the pound has slumped since the Brexit referendum. The pound has seen a decline of almost 9% against the euro since April this year and 12 % since the Brexit vote.

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Topics: Shrinkflation, Inflation

How Price Testing Helps Ecommerce Companies to Make Smarter Decisions

Posted by Moira McCormick on October 5, 2017

 

It can be a complicated business getting your ecommerce pricing right - online products and services are basically worth whatever people are willing to pay for them.  So, how do you find out what your customers will think is a reasonable price?

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Topics: Price Testing, Ecommerce

6 Pricing Psychological Triggers That Win Sales

Posted by Moira McCormick on October 3, 2017

The price of your product represents the size of a risk someone is going to take by buying.

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Topics: Sales, Psychological Pricing

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