Did you know that a 1% improvement in price optimization can bring on an average boost of 11.1% in profits? Anyone familiar with this fact is professionally and thoroughly engaged in price optimization. Still, a vast number of businesses are guessing or copying competitors' prices which...
Business owners will tell you that all the phases of running a business can be challenging, but what especially keeps them sleepless is pricing. Or to be more precise - possible pricing mistakes. Pricing analysts are constantly second-guessing themselves. But is it even possible to...
Source With an increase in the number of people buying online, more brick-and-mortar stores are going digital. It is estimated that there will be over 2.14 billion global digital buyers in 2021. And with 24 million retailers selling online already, the first-mover advantage is no more...
The first association with the adjective “sticky” is usually connected to food (or sticky notes if you are a student), but yes, that’s right, prices can be sticky too. Sticky prices mean exactly what they sound like - they resist moving or changing. Since the...
No matter if you have the best product or service in the world, if you don't have solid marketing and pricing strategies you may be doomed in the current competitive world. When determining a product or brand's offer as a key component of the marketing...
Target return pricing is a strategy that is used to set the product price based on the expected rate of return on the investment. Or in other words, it’s the profit that the firm can expect in the future from a certain investment, such...
The number of visitors you drive to your e-commerce website can make or break your online store. That's because more sure visitors mean more people you can convert. Your only hindrance is whether you are attracting the right website traffic. But what if you are attracting...
When you start to dive into the pricing strategies, it soon becomes a bottomless hole with new strategies popping up one after another. Since you seemed to be pretty interested in our blog post about dynamic pricing, we decided to explain another pricing strategy that...
With the increase in online business startups, it's natural to feel fear before starting your own online business. You must be looking for the best online marketing strategy tools to grow your business as the need for search engine optimization has increased. However, it takes...
How would you like to choose the price of products that you’re buying? Well, there are some businesses that are offering just that! Such businesses are based on a “pay what you can” system where customers can choose among a few prices. You might be surprised...