6 pricing strategies for small businesses

pricing-strategies-to-increase-salesPart of helping your products move is to price them appropriately. Think about the last time you as a consumer went shopping. You fell in love with a product, took a peek at the price tag and then either cringed or swooned.

Price is one of the most important factors affecting purchases both online and offline. In stores, buyers are quickly checking prices at nearby stores and retailers from their mobile phones. With online purchases, consumers can easily comparison shop by opening a new tab in their browser.

Pricing your products right has been shown to affect the online purchasing decision by 60% for e-commerce shoppers worldwide and is even higher in emerging markets. As a new business starting up, finding the right price point can be a challenge. You as the business owner know what heart, sweat and effort you put into your work but will consumers find that price agreeable?

The art to pricing your products right requires math, psychological understanding about your consumer and some experimentation.  Continue reading

Navigating domain disasters

1You’re starting a new business. You’ve chosen the perfect name. It’s catchy, describes your business and is perfect for marketing purposes. You’re ready to go to the next step and secure your domain and then suddenly things go south.

The catchy website.com domain you were hoping to secure is taken.

It used to be that there were only a few viable options businesses could choose for their top level domains (TLD). A top level domain is the suffix after your dot (.) in your web address. Typically the choices included .com, .org, .net, .biz, .edu and .gov for government entities. There are also country specific domains which can help improve SEO ranking in specific countries.

The .com has traditionally been the most popular TLD comprising about 49% of all websites. So for some, not being able to secure their top domain choice on .com spells disaster. Continue reading

What you need to know about chargebacks

 

1Chargebacks are a dirty word for businesses. No one wants to open up their inbox or dashboard and see a chargeback notification glaring you in the face.

Chargebacks are when a customer informs their bank about a suspicious charge on their account. Typically a chargeback follows the below scenario.  Continue reading