Proven Pricing Strategies that Drive Conversions

Posted by Moira McCormick on November 8, 2017

"Companies that have well-defined pricing strategies are 40% more likely to realise their monetising potential than firms that don't have them says Madhavan Ramanujam and Georg Tacke in "Monetizing Innovation: How Smart Companies Design the Product Around the Price."

An effective pricing strategy, one that drives conversions, must have clear intent, quantifiable goals and a time-frame for implementation.

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Topics: Conversions, Pricing Strategies

Pricing Strategies That Are Recession Proof

Posted by Moira McCormick on September 25, 2017

We're all hoping that the days of a recession are way behind us now but it certainly does no harm to be prepared in case the economy becomes rather less stable, particularly, for example, during this Brexit negotiating period – and beyond.

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Topics: Pricing Strategies, Recession

Behind the Scenes of Airline Pricing Strategies

Posted by Moira McCormick on September 19, 2017

Are you confused by airline pricing?  You are not alone! 

If you spend any time researching on the internet for a flight you'll soon find that the price can be high one week, low the next - and the really confusing thing is that long-haul flights can often be cheaper than short haul destinations.

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Topics: Airline, Pricing Strategies

The Beginners' Guide to Implementing Strategic Pricing

Posted by Moira McCormick on August 24, 2017

Strategic pricing sets a product's price based on the product's value in the eyes of your customers (or potential customers) rather than on the more usual cost of production plus a markup.

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Topics: Strategic Pricing, Pricing Strategies, Pricing Strategy

Pricing Strategies that Spark Customer Loyalty

Posted by Moira McCormick on August 8, 2017

Loyalty is an old-fashioned word traditionally used to describe fidelity and enthusiastic devotion to a cause or an individual.  In a business context it describes a customer’s willingness to continue buying from a firm over the long term, preferably on an exclusive basis, and recommending the firm’s products or services to friends and associates.

Customer loyalty is seen as a key determinant of a firm’s profitability. Your goal should be to make your customers feel good about shopping with you – and want to return.

 

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Topics: Pricing Strategies

Top 5 Pricing Strategies for Ecommerce Sites

Posted by Moira McCormick on January 24, 2017

To be a successful Ecommerce retailer you need to pay close attention to your pricing strategy/pricing strategies. 

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Topics: Ecommerce, Pricing, Pricing Strategies

Top 5 Pricing Strategies for Distribution Companies

Posted by Moira McCormick on January 12, 2017

For distributors, the biggest challenge is running your business on low operating profit margins.

In its most basic form, distribution is all about the "spread," or profit margin, between what you bought the product for and what you sold it for. The bigger the spread, the bigger the profits.

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Topics: Pricing Strategies, Distribution

14 Pricing Strategies to Help Grow Your Retail Company

Posted by Moira McCormick on November 24, 2016

Even if a lot of our high streets are suffering from the competition offered from ecommerce sites, shoppers are still willing to visit a "real-live" shop and be tempted to purchase if the prices to them seem reasonable and competitive.

It's a misconception that online prices will always be cheaper – and there's nothing tempts shoppers to part with their hard-earned cash more than an attractive shop window display or instore promotions.

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Topics: Pricing Strategies, Retail

Use These Pricing Strategies to Grow Your Ecommerce Site

Posted by Moira McCormick on November 21, 2016

Feeling downhearted that you can't compete with the "major players" in the Ecommerce world? OK, so you're not going to take on Amazon anytime soon but there are other canny ways to compete - and it all starts with thinking about, then developing, a competitive ecommerce pricing strategy.

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Topics: Pricing Strategies, Ecommerce

The Ecommerce Pricing Guide is Here!

Posted by Emmanuel Aremu on November 15, 2016

Hot off the press is our latest guide for online retailers entitled: 'The Ecommerce Pricing Guide'.

You can download it here.

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Topics: Pricing Guide, Ecommerce, Online Retail, Pricing Strategies

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