May 19, 2014
This infographic from WisePricer, who offer a full-featured pricing and merchandising engine that monitors, analyzes and re-prices retail products in real-time, helps software companies improve their e-commerce by understanding the factors that influence price strategy decisions, and what changes have the most impact on their bottom line.
Cart abandonment is a major concern for software merchants. Generally speaking, more people than not abandon their online shopping cart after choosing a product and putting it into...
December 1, 2011
The online shopping extravaganza that occurred on Cyber Monday reconfirms e-commerce as a lucrative, growing field. Since Building Keystones is passionate about empowering people to succeed in this ever growing industry, we continue our mission to bring you digital e-commerce expertise on a wide range of topics with the November Blogger’s Digest.
This past month we gave advice about optimizing shopping carts for customers across the globe, provided tips for guiding traffic with domain name portfolios, shared...
March 3, 2011
We’ve previously discussed the importance of setting marketing-friendly prices as part of your international pricing strategy, but if you aren’t careful about how you display those prices, you can actually lose money.
There are two ways that companies typically handle pricing products in multiple currencies:
Show all currencies on a single page
Duplicate “sites” or “stores” for each currency/region
The following example shows how companies display all currencies on a single page:
On the surface, it may not seem problematic...
November 16, 2010
Pricing your product is one of the most important steps in a product’s life-cycle. Price your product too high and you send potential customers to your competitors – price too low and you may be overrun with customers AND operational problems. The right pricing strategy is important, not only for your product, but also for your company.
The ability to sell globally is generally viewed as one of the most attractive things about digital products. However,...
September 28, 2010
Psychological pricing research suggests that product prices should be rounded to odd numbers (9, 5 or 0) in order to decrease e-commerce friction. A Marketing Bulletin study from 1997 found that 97 percent of all product prices ended in one of those three numbers. Considering the global reach of digital product e-commerce, pricing your product in local currencies is also important to prevent lost sales.
Most people go about their day-to-day lives carrying around one currency...