About Us|Contact Us|Register|Login

[google-translator]
Currently Browsing: Sales

Here are 7 Steps to Perfectly Price Your Product

Here are 7 Steps to Perfectly Price Your Product
Why Is Pricing Strategy Important? Pricing is of ultimate importance because every buying decision is based on pricing. We need to put a proper pricing label on our products in such a way it is convincing and appealing as well. The key is to strike a balance that will generate revenue without putting off potential customers. Setting prices too high can make a product prohibitively expensive for your target audience while setting prices too low can threaten your bottom line. Fortunately, there are a number of different pricing strategies that can help you determine the right price for your products. Having a robust pricing strategy gives you a competitive advantage by allowing you to meet consumer demand in a competitive market. Info: Masterclass Here are 7 steps to price your product. 1. Identify your ideal buyers What is an ideal customer? – Your ideal customer is someone who gets their exact needs met by what your’e offering. For detailed info visit AudienceOps 2. Perform competitor and market research Competitive market research centres on finding and measuring key market metrics that help identify differences between your products and services and those of your competitors. For detailed info visit HubSpot 3. Determine your costs A fundamental principle of pricing is that you need to cover your costs and then factor in a profit. That means you have to know how much your product costs. You as well need to understand how much you need to mark up the product and how many you need to sell to turn a profit. For detaile info visit Inc 4. Compute your average customer’s Lifetime Value (LTV) What is Customer Lifetime Value (LTV)? – The customer lifetime value (LTV), also known as lifetime value, is the total revenue. In accounting, the terms sales and a company expects to earn over the lifetime of their relationship with a single customer. For detailed info visit CFI 5. Select the right pricing strategy If a business cannot identify or arrive at the right price point for their products based on value, it is definitely going to be an uphill battle against their competitors. For detailed info visit Forbes 6. Use the best-fitting pricing model for you A pricing strategy is the way you set the price.A pricing model is a kind of price format – it’s part of the way you package and present your goods and services to the customer. For detailed info visit Qualtrics 7. Implement, experiment, and learn In today’s marketplace, businesses can no longer afford to play it safe. It’s time for pricing to get experimental. For detailed info visit IntelligenceNode Outcome When You Want to Increase the Price of Your product Losing out on new clients if you change your rates in relation to your competition.Loyal clients that have been with you for several years might feel, they deserve to stay at the lower price point.Fear of increasing the price might put you to remain in the status quo and not do anything about it. In her Tips for Pricing your Handmade Goods blog on Craftsy, artesian entrepreneur Ashley Martineau suggests this formula: Cost of supplies + $10 per hour time spent = Price ACost of supplies x 3 = Price BPrice A + Price B divided by 2 (to get the average between these two prices) = Price C For example, you have determined the cost to purchase supplies to make one unit of your product is $4.28 and it takes you a half-hour to complete it, then your formula would look like this: $4.28 + $5 = $9.28 (Price A)$4.28 x 3 = $12.84 (Price B)$9.28 + 12.84 = $22.64$22.64 / 2 = $11. 32 You also need to calculate the tax...
read more

What Do You Need to Start a Craft Business?

What Do You Need to Start a Craft Business?
These days, handmade items and personalized crafts are one of the most-bought categories online. Sites like Etsy have made it easier than ever for people who make crafts to sell the items that they make and connect them to people who are looking to buy. There’s a huge market for hand crafted items as people like the idea of owning something unique or getting a unique gift for somebody that feels much more special compared to buying something off the shelf. If you want to start your own craft business, here are some of the things you’ll need to consider. Equipment First of all, think about the equipment you are going to need to get started. You can usually get started with the basics and add more equipment to your inventory as your craft business grows and makes more sales. The equipment that you need will depend on the type of items you make, too. For example, you will definitely need a sewing machine if you are making handmade clothing. Or if you are making personalized gifts, consider getting a Cricut. Laptop or Computer At the very least, you are going to need a PC or laptop to help you run your business, advertise your products, and in some cases, make your crafts. You’ll use your laptop for all kinds of things including creating designs to use with your Cricut if you use one, marketing your products on social media, and building your website or Etsy shop. Consider these Lenovo Cricut laptops to get a computer that is designed for the kind of work that you will be using it for. Website Although you can use platforms like Etsy exclusively to sell your crafted items, many craft business owners like the idea of having their own website where they can usually sell their products at a cheaper rate by avoiding Etsy fees and build their own brand. You can pay a professional web designer to build your website for you or build one yourself using easy-to-use eCommerce platforms like Shopify. Before building your website, it’s a good idea to have a strong visual brand including your logo, brand colors, fonts, and anything else that will help your customers recognize your business. Storage You may also want to consider storage space for both your equipment and the items that you are going to sell. How much storage space you will need will vary depending on different factors such as the size of the items you make to sell and whether or not they are made to order. If you plan to make items in advance to sell then it might be worth considering renting a storage unit if you do not have a lot of room in your home to store your inventory. Ensure that you have insurance on your inventory and your equipment wherever it is stored to cover you financially should anything go wrong. With handmade crafts getting more and more popular, this is a great business idea for anybody who loves making...
read more

How IoT is Changing the Future of the Supply Chain

How IoT is Changing the Future of the Supply Chain
Supply chain management (SCM) is the broad range of activities needed to plan, control and execute a product’s flow, from procuring raw materials and production through distribution to the final customer, in the most streamlined and cost-effective way possible. Ensuring all supply chain components are running as smooth as possible helps businesses to provide on-time delivery of products and services, with changing consumer demands and supply chain disruptions brought about by the recent pandemic. This blog post’s focus is to throw some light on “How IoT aka Internet of Things is bringing about a big impact” in the future of supply chain activities. Let’s first understand the 7 Principles of SCM Adapt supply chain based on service needs of every customer segmentCustomize logistics network for each customer segmentAlign demand planning across the supply chainDifferentiate product closer to customer’Outsource strategicallyDevelop information technology that support multi-level decision makingAdopt both service and finance metrics Now let’s look at the Impact of IoT in the future of supply chain. Asset Tracking One of the top and fundamental function of IoT in supply chain is asset tracking. Locating containers, objects and personnel is considered way important among the organizations Through RFID and GPS sensors, real-time location of a product, truck or shipping container can be known by logistics operators. Fleet Management Fleet management is another area to improve the efficiency of logistics operations. Through IoT it is now possible to connect all fleets to each other, which allows the fleet dispatchers to collect breadth of data from their fleet operations. Data included are: 1. Weather conditions 2. Traffic situations 3. Driving pattern and 4. Average speed When thoroughly analysed, this data can help logistics operators to find more efficient routes, manage driver head counts, save on fuel cost and optimize their fleet reliability, availability and efficiency. Tracking and Monitoring Inventory Levels in Real Time IoT sensors play a great role in tracking and monitoring inventory levels in real time. Amazon is now using Wi-Fi robots to scan product codes present on the products to keep track of their inventory levels. Bluetooth tags and beacons offer tracking data in more confined areas- many retail stores are using these tracking technology software to monitor customer traffic and provide marketing messages to their customers. Vendor Management By asset tracking., organizations tend to come out with high quality output, which in turn improves their relationship with the vendors. A recent survey states that up to 65% of the value a company’s product /service is derived from its suppliers. Predictive Maintenance Being an asset intensive process, right from production machinery to warehouse equipment and delivery vehicles, these assets need to be continuously monitored to ensure their functional efficiency. Smart sensors help the logistics operators gauge if a particular asset needs to be serviced ahead of time. This reduces considerable asset down time and asset failure, thus saving cost including maintenance...
read more

Real Estate Postcard Templates: Check Out our List to Find Your Absolute Go-To’s

Real Estate Postcard Templates: Check Out our List to Find Your Absolute Go-To’s
Real estate postcards are a wise option for gaining clients and leads. When utilized correctly, they can take you from having one or two clients a month to a possible five or more. However, the best part about these postcards is that trusted sites offer high-quality templates that can give you the best cards to mail. You can also customize them to your needs and ensure that your brand is being shown. Please keep reading to see which real estate postcard templates people are taking advantage of to make their business grow. Just Listed Templates Just listed real estate postcard templates offer your potential clients the opportunity to see what kind of homes you could help them buy. The template is simple with a highly professional look, but you utilize your fonts and colors around your headshot and a picture of the home. You should have information about the house underneath the image so that it doesn’t detract from what you want the client to see. Just Sold Real Estate Postcard Templates Just sold real estate postcard templates are another option that you can use. Just as popular as the listed postcards, you will see that the setup is a little different. Your headshot will sit on the side much as the other option. However, there is less writing cluttering the card. Instead of a paragraph of information that lets clients know why they want the home, you let the picture speak for itself. The photos of the home you sold give the client an impression of why they want you to sell them home like the one in the picture. It avoids distractions and is clear-cut as a result. Clients Love A Free Offer When you want to gain someone’s attention, you should remember that people love getting things for free. It makes them feel special and that you have provided an excellent service for them. That is where the real estate postcard templates for special offers come in. With cards like these, you are focusing on the free offer. As such, your headshot will be smaller, and instead, the inspection or evaluation you are offering is at the forefront. That is because you want to ensure that the person is paying attention. Bolder colors can be used here, but the look is still professional and all business while at the same time drawing the eye where it needs to go. The Look Is All You With customizable real estate postcard templates, you can make the cards look the way you need them to. Use an adequately lit headshot, and it shows you as a real estate agent who knows how to get the job done. Take advantage of the business-like look that each template will offer you, and you will see the clients become drawn to you. That will help when you want to expand your business beyond the parameters that you have been dealing with thus...
read more

Tips for a Successful Tech Start-Up

Tips for a Successful Tech Start-Up
There are so many tech start-ups emerging, as digital technology moves on in leaps and bounds, with the Internet of Things on the horizon. Perhaps you are a good front-end developer who has access to a great team and with the right things in place, there’s no reason why you can’t compete in this huge market that is growing exponentially. Here are a few tips to help make it happen. Funding – Of course, you need to crunch the numbers and come up with a figure you need to turn your vision into reality and if you come up short, there are several ways that you can fund your start-up. You could crowdfund, as many digital entrepreneurs do successfully, or you could put together a presentation and invite potential investors. Another idea is to approach another developer with a view to setting up a partnership; your partner naturally comes up with 50% of the start-up funding, which eases the burden. If you have a good working relationship with your bank, they might be interested in checking out your business plan, while there are online lenders that specialise in start-up funding. Global market – Take advantage of the unique services at www.globalcitizenstranslation.com, the leading global translation provider with more than 500 language pairs to choose from. Having the ability to communicate with non-English speaking people is a real game-changer and it couldn’t be easier to use the on-demand service; simply book your translator and they will be ready to join your Zoom call at the agreed time. You can set up a business meeting with that Chinese client, without worrying about language issues and with more than 500 language pairs, you are not limited in any way. Web portal – This is very much your shop window and a chance to show some stunning code; invest in professional web design and create a brand that will become known for creativity and quality. You might want to think about digital marketing, with ongoing SEO to get your brand known. Here are a few key roles that your start-up needs. Tech recruitment – If you need to put together a team asap, you should create accounts with the best tech recruitment agencies. When the need arises, a quick search will find developers and code writers who are ready to go at the drop of a hat, so to speak. Time is of the essence when you have a client who wants your product and if you can’t meet their deadline, they will use another outfit. Where to base your company – As you know, delivering digital products means you can be based anywhere and some countries offer great incentives for foreign investors. If you are looking at Ireland as a potential venue for your start-up, here is some important information, while many entrepreneurs prefer to be based in Southeast Asia. The marketplace is highly competitive, as you already know and if you do your networking and invest in some SEO, there’s every reason to expect...
read more

« Previous Entries