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How to price new products and customer price marketing and product pricing solutions

2016-06-12

As we all know, sales = number of visitors * unit price * transaction conversion rate. Assuming that the number of visitors and transaction conversion rate remains unchanged, the increase in the unit price will directly drive the store's sales, so it is very necessary to increase the store's unit price.

2. Solution

Three thinking channels for increasing customer unit price: match packages, make reasonable promotional pricing, and increase product page stay time.
Method 1: Match the set meal

3. Customer Cases

Background: A certain jewelry category merchant has a low proportion of jewelry categories in Taobao categories, and the industry itself has a small traffic, and the average traffic of the secondary category is even lower.

Pain point: There is only one traffic diversion model in the store, and other babies have low traffic and low sales

Recommended plan:

Baby A – the hottest baby in the store, Baby B/Baby C/Baby D/– the new store product baby, Baby A is matched with Baby B, Baby C and Baby D respectively. The purpose of this is to provide buyers with more choice space, and at the same time, it is to use the original hottest baby in the store to form traffic sharing. Use this to drive the growth of new products! Make traffic famous and match packages famous!

At the same time, it is recommended that merchants use other matching packages. Merchants make a matching package for other secondary categories. In fact, this is equivalent to combining the traffic of several secondary categories. No matter which secondary category products come in, other secondary products can be seen, thereby solving the problem of lower average traffic in a single secondary category;

Method 2: Promotional pricing reasonably

Every store has promotional activities to activate the store, but when doing activities, will you pay attention to how to set the price of the event and how much to set it? Will you encounter the problem of a decrease in conversion after the event?

The relationship between the sales in the promotion and our store pricing strategy

Many stores have a variety of pricing options and have their own considerations. Generally, we will refer to business consultants and e-commerce, such as product price distribution, customer unit price range, etc.

Customer Cases

Background: A certain women's clothing merchant has many stores and the women's clothing industry is very competitive, and the price is not the advantage of the store. Every time he holds an event, he will make the merchant sweat.

Pain point : The store product price is single, and this problem needs to be solved first before other operation strategies can be made.

Recommended plan:

The price of store products should be extended and more people should be introduced as much as possible. Each price segment has a certain audience

A. Sale at low price 5%

There can be 15% low-priced products in the store. Generally speaking, clearance products in the store or promotional and discounted products are mainly used to attract more traffic when the store is low-priced;

B. 15% high price sale

There can be 15% high-priced products in the store; it is mainly used for the later conversion of old customers in the store. Every time old customers purchase, they will purchase more products as their recognition of the store increases, and try higher-priced products;

C. Sales at 70% normal price

When pricing 70% of products, the consumption capacity of the store purchasers should be analyzed and the consumption habits should be the people who purchase this part of the product and the old customer group of the store. Here we must position the population of the entire old customer group, and tie the gender and age stages of the people who buy our products, and purchase needs!

During promotions or registration activities, try to sell products at a high price of 15% as much as possible. The promotional price can reach the normal price range of our store. In this way, the purchased group introduced is actually the purchasing ability of our old customer group. We will pay attention to the maintenance of this part of our customers in the later stage and transform them into our old customers.

When pricing, refer to the red box column statistics on the picture. At the same time, pay attention to following up changes in position data at any time. The system will automatically create the most popular price range in the market based on the recent purchase price ratio of this type of product.

Regarding promotion methods, some methods that can be used to promote in the store should be provided to merchants, and they need to be distinguished and used according to the characteristics of the store's products.

Method 3: Improve the stay time of the product page

The stay time can increase the average customer price of the store. The stay time cannot be too low, which is inevitable, but it cannot be too high. Keep as much as possible above the industry average:

Too low - maybe because the buyer is not interested in the overall style and decoration of our store and has no interest in continuing to browse;

Too high - maybe because the buyer doesn't understand the placement of our store's products and can't find what he needs, and there is no clear guidance in the store;

The average stay time of the home page and each page can be viewed in the business consultant to have a clear understanding of the store

Customer Cases

Background: The more ordinary and popular men's clothing store has no big competitive selling points compared to its peers.

Pain points: The store details page has a high jump rate and a relatively short stay time;

Suggested plan: Regarding the recommended baby at the top of the details page, it is recommended that you do not have too many, and control it between 6-8. The number of screens should not be 1 screen;

Because this position will disperse the traffic entering the baby, it is recommended to use peripheral products as much as possible to avoid consumers being undecided.

Summarize

Any promotion requires the store to assist through activities to achieve the desired effect, re-plan product matching and product pricing, pay more attention to the recommended layout of the page products, and will have unexpected results.

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