5 Steps To A Smarter Online Pricing Strategy | Twice

There are few things as important as your pricing strategy.

Get it wrong and your business won’t survive. Get it even mostly right and reaching your goals will be more difficult than necessary.

But get it right and you will pave a smooth path to success.

The Internet and smart phones have enabled consumers to easily compare prices across dozens of retailers in mere seconds — even while standing in your store. But don’t despair! While it’s true the prices you advertise will be compared, you don’t always have to have the lowest price to win. You just have to have the smartest one.

Retailers ask me for direction on this topic daily, as businesses using our WebFronts platform have dozens of different options to customize their e-commerce experience, from upsells, cross-sells, and delivery calculators, to discount codes, ZIP Code restrictions, out-of-cart pricing, and packages.

Combine this with increasing price volatility in the marketplace and ever-more intricate online pricing policies from manufacturers, and setting a digital pricing strategy becomes a complex task.

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5 Steps To A Smarter Online Pricing Strategy | Twice.