When crafting a high-converting landing page, well, there are dozens of price principles you can take advantage of.
One of the most effective principles is called price anchoring.
We all have come across it at some point. Every time you see a discount with “$90 $50″, the $90 is the price anchor for the $50 sales price.
The idea behind price anchoring is that customers tend to perceive pricing relatively. A product is perceived as expensive or cheap in comparison to the initial price point.
As you can tell, price anchoring is a principle deep-rooted in psychology.
By way of …Read More
What’s the Customer Lifetime Value (CLV) of your eCommerce business?
Or let me rephrase, do you know what your customers are worth to your business?
I’m sure that many eCommerce marketers can’t answer this question. Not only because CLV is a neglected or often overlooked metric, but also because it can be very difficult to calculate – perhaps this is why there are too many CLV formulas out there.
Regardless of how complicated CLV is as a metric or concept, if only you knew how vital it is to sales, marketing, and ultimately your business growth, you will always keep …Read More
When it comes to conversion funnels, the internet is not short of articles that talk about building one for your website. There are also thousands of articles that explain the importance of having a conversion funnel. We also have an insightful article that explains the truth about conversion funnel optimization.
Today, I won’t be talking about any of the above. Instead, the focus of this article is to help you know the area you should optimize first on your conversion funnel.
So, in other words, this article assumes that you already have a conversion funnel set up. If you don’t …Read More
It must be nice…
Having maximum control over everything that has to do with your product.
I mean who doesn’t want to control their branding, messaging, and of course, the profits that come with it.
I assume that this is what most eCommerce founders think before either switching from B2C or B2B to the direct-to-consumer DTC model.
But if you ask for an honest opinion from those who have been in DTC for a long time, they will tell you that not everything that glitters is gold.
They will tell you that running a DTC eCommerce brand involves a lot of …Read More
Every day we make choices. Some of them are so automatic we don’t even realize we are making them. It’s true in life. It’s true in business.
Every choice you make for your eCommerce site has an impact, the key is to choose in a way that has the most positive impact.
In over twelve years of studying and experimenting, I have time and again come to the conclusion that optimizing your product page is the number one way to boost your conversion rates.
The product page is where we ask shoppers to part with their hard-earned money in exchange …Read More
The year is 2020.
The world is crippled by a pandemic outbreak.
Brick-and-mortar stores have been forced to close, and visitors are stuck to their devices now more than ever before.
Online shopping is only growing.
This of course triggers technological advancement and growth within eCommerce. We have seen an explosion in the number of direct-to-consumer (D2C) eCommerce brands.
While this growth is good for customers, it is scary for other online businesses.
While the arrival of the pandemic has been a curse to physical stores, it’s been a blessing in disguise for businesses that sell their products online.
ECommerce brands have been experiencing significant gains in the past few months.
Companies that didn’t have an online presence and relied heavily on brick-and-mortar or department stores saw a drastic fall in revenues, and they were forced to rethink their omnichannel strategies.
But even pre-covid, selling through distributors like Amazon or Walmart or large department stores has always been the traditional way to gain attention to your product. But with the rise of social …Read More
Although eCommerce websites come in different shapes and sizes, there are very real, specific KPIs that every eCommerce website, regardless of size, should be setting and monitoring.
But one thing I can tell you is that you have to be extremely careful. Ecommerce KPIs can be both a blessing and a curse.
Over the years of helping different eCommerce businesses, we have discovered that most eCommerce marketers fail to accomplish their goals on time not because they lack skills and knowledge but because they lose sight of what to track precisely.Read More
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