Pricing in any store, no matter the niche, can also be seen as a marketing strategy for online sales. The right prices can generate interest, motivate sales and attract new customers to your business.
The great part of the digital environment is that you can alternate prices easier. Still, be careful not to do it too often. This way, you will disappoint your customers and make them think you’re being kind of shady.
We’ve gathered a list of TOP 5 effective strategies for the prices you decide to set up in your online store.
1. Know your market and become competitive
When consumers buy products or services online, they are more motivated and able to research the market and choose the best price. Make sure that this price is yours. If you can't afford to take it down, offer bonuses and discounts for a second product or other benefits that your competitor doesn't include. Make sure the offer is profitable for the company.
2. Offer the possibility to negotiate the price
How? Think about various types of similar services, simpler and more complex, at different price levels. Online consumers are already used to this and are often looking for such options. You offer them more solutions so that they do not look for them at your competitors.
3. Demonstrate the differences
Make sure those who enter your online store understand what they pay for and what they lose if they pay your competitors.
4. Let consumers try or see the product before buying
Give consumers the option to try your product for a "commission". Often, the fear of buying online is that one won’t be able to return the product if it does not suit them. The commission would, at least, reimburse you for the delivery costs.
5. Give them money for their purchases
Fill their electronic wallet with bonuses and special coins they can use on your site, depending on the value of the order they placed. This money will also be spent on the purchase of your products. It is a nice, pleasant and easy way to quantify gifts.
The fact that the customers will still have money to spend on your products and services will make them come back.
