The pricing decisions we make for our products play a crucial role in their position in the marketing world. It can either increase how your product sells or decrease it. The perceived quality of a product is often determined by its price.
While lower-priced items sometimes give better value, they are considered to be of inferior quality by some prospective buyers. Thus, the pricing of products includes an understanding of the customers’ requirements and the market.
Before you set the price of a product, do some market research and learn about the prices set by your competitors. This will help you to decide the best price for your product and will help acquire more customers.
In addition to the price of products (which should reflect the brand), there are various other factors to consider. In the world of e-commerce, when a customer visits a site to look at a product before buying it, the price of the product is often not the only influencing factor in the customers’ purchasing decision. From website design to attractive landing pages, many things play a crucial role in impressing prospective buyers.
With the evolution of e-commerce, marketing has undergone a metamorphosis. Unlike the traditional market, where the price and quality of products are the determining factors in increasing sales, in the e-commerce world, consumers consider various other factors before making a purchase. If a website looks dull and the site speed is slow, consumers won’t visit the site again to check out products.
To succeed in this competitive marketplace, companies should utilize a smart marketing strategy which includes the following four points:
In the promotion of your brand, catchy headlines play an important role in attracting customers. Brainstorm and come up with a powerful headline. You might have to scratch your head for a few hours before coming up with a catchy headline but the result is worth the effort.
Contrary to the popular phrase, “never judge a book by its cover”, consumers do judge a product by reading the headline of an advertisement. A consumer might not look at all your marketing content at first glance; they might just look at the headline. If the headline is powerful enough to arouse curiosity and impress the viewer, it might tempt him to go through the details and make a purchase.
The headline of your product advertisement should be unique, simple, relevant and aligned with the brand’s voice. As headlines act as the prologue, try to craft catchy headlines to pull in viewers.
If there is a winning headline, can interesting content be far behind?
A catchy headline followed by interesting marketing content will surely impress your prospective buyers. Research suggests that 61% of consumers trust companies which provide custom content. Marketing content should be well written in simple language so that consumers can understand it easily.
Content should also establish the brand culture and connect with prospective buyers by building trust. It is essential to humanize your content and tailor it to your target audience. Bill Gates once remarked that “content is king”, so it will certainly help to drive more traffic and acquire more customers.
Transparency in business helps to foster trust in the buyer-seller relationship. Business Dictionary defines trust as a “lack of hidden agendas and conditions, accompanied by the availability of full information required for collaboration, cooperation, and collective decision making”.
When your business is transparent with its potential customers, it will allow them to find out more information about the brand and connect with it in a better way. Your marketing content and website should be designed and crafted in such a way that it will uncover every aspect of the brand.
Transparency instills trust and thereby helps to acquire more customers. Business transparency is thus effective in boosting sales.
Attractive landing page:
An effective landing page design helps to generate leads and convert them into buyers, collect valuable information about your prospects and fuel marketing on social media platforms. The more landing pages your site has, the more potential leads you will have. You can create an attractive landing page to improve brand awareness and optimize your marketing.
In addition to pricing the right way, incorporating the above-discussed checklists helps you in maintaining a healthy sales pipeline.
Next time you are pricing your products, make sure that your marketing campaign is effective enough to drive more customers and increase sales.