Pricing psychology: Understanding how consumers perceive and respond to pricing
It’s most probably not new information to you that pricing is a crucial element in marketing and sales strategies. Indeed, the price of a product can influence a consumer’s perception of its value and can impact their purchasing decisions. Understanding pricing psychology can help businesses create effective pricing strategies that not only attract customers but […]
4 unconventional pricing strategies: Thinking outside the box for online success
Traditional pricing strategies like discounts and BOGO deals are effective but can become commonplace and may not yield the desired impact. The e-commerce field is so competitive that you have to constantly seek innovative ways to drive online success. But the question is: how can you stand out from the crowd? In this blog post, […]
Why master data is crucial – and what a good master dataset looks like
Master data is the backbone of any successful ecommerce operation. It’s the foundation for creating accurate and reliable product information, which is crucial for pricing products effectively. Especially for businesses using multiple software to track their products and pricing, a well-structured master data is crucial for minimizing the risk of losing revenue and customers due […]
3 key metrics to set targets for a discount campaign
Setting clear and well defined targets for your discount campaign is one of the most essential steps in your planning process. Launching a campaign with no clear target in sight will have you flying blind with no way to track your campaign progress or motivate your team. In other words, without clear set targets you […]
The 4 most common pricing mistakes Shopify store owners make and how ecommerce pricing software can help avoid them
Are you struggling with pricing your Shopify store? You’re not alone. Pricing is one of the most critical aspects of running an ecommerce business, and many store owners make common pricing mistakes that can hurt their bottom line. In this blog post, we’ll explore some of the most common mistakes Shopify store owners make with […]
Prepare for large campaigns: A checklist
Are you looking for a surefire way to boost your sales and increase your revenue? Running large sales campaigns can be a highly effective strategy to achieve this. However, before you can start promoting your sale and slashing prices, you need to do some preparation work to ensure your campaign is a success. To help […]
4 steps to creating product groups and avoiding price cannibalization
Pricing strategies are one of the most important decisions businesses make. Price too high, and customers won’t buy. Price too low, and the business won’t make a profit. But one of the biggest challenges businesses face when it comes to pricing is avoiding cannibalization. And product groups solve this issue for the most part. What […]
Using discounts and promotions effectively on Shopify
Discounts and promotions are the magic wands of Shopify merchants, casting spells to enchant new customers, ignite repeat purchases, and boost revenue to new heights. But here’s the secret: the key to their power lies in thoughtful implementation. So, get ready to embark on a journey through various discount and promotion strategies, designed to help […]
Best practices for implementing eCommerce pricing software on Shopify
Ecommerce pricing software can be a game changer for Shopify store owners looking to optimize their pricing strategies and increase their revenue. However, implementing such software can be a complex process that requires careful planning and execution. In this blog post, we’ll explore the benefits of ecommerce pricing software for Shopify stores. Furthermore, we will […]
Using Discount Campaigns to boost sales and increase customer loyalty
Image: Image of man in green jacket walking in front of Sale sign by Marcus Spiske. Image Source: couponsnake.com If you’ve ever bought something that was advertised as being on sale, then you’re already familiar with the concept of a discount campaigns – even if you haven’t heard that term before. A discount campaign is […]