Should the price of a product be raised or lowered? It is not so easy to answer because the most logical and simple answer is “it depends.”
It depends on the branding, the target audience, the competition, the launch phase, the market, etc.
To move from “it depends” to something more tangible, we have started testing prices of our top sellers.
We do it in a very simple way:
- We make a price change up or down.
- After two weeks we analyzed the impact on sales.
We now analyze and compare the following data:
- Total revenue, profit, ROI, margin, units sold, cash flow.
What we are looking for is an improvement qatar whatsapp number data in cash flow to recover and be able to reinvest capital sooner. To do this we are willing to accept a slight negative impact on ROI. In the products analysed we are talking about an ROI between 100-300% so there is a lot of room to play with prices.
There is one thing we are not yet analyzing and we should
- Conversion rate and traffic on the listing.
With price increases, the conversion rate should how to achieve box office success thanks to email marketing in most cases decrease and, consequently, traffic to the listing will also decrease because Amazon is taking away your visibility.
At the moment what we are observing is this.
“Touching” the price is a positive thing. It generates qatar data urgency and movement. It is a strategy that many sellers use frequently. In fact, if you analyze their listings, you see a continuous wave that tells us that raising and lowering the price is a sales strategy that achieves better results than not touching it.
We still have a lot to learn here.
What does this mean?
I will have to make a change in my morning routine. I will go from getting up at 5.30 to 6.30 so that I can go for a run at 6.30. When I have returned from running I will switch to doing the usual Freeletics exercises. I will see how this affects me. I will also go to bed earlier as a consequence. At 9 o’clock I go to bed…
The plan is to have done the necessary “work” in the morning so that I have a clear mind for the rest of the day and don’t have to think about the fact that I still have a workout ahead of me. For my mind, this is the best way to function. Whether it is also the same for my body, we’ll see.