For many marketers and online businesses, there seems to be a myth going around that selling online means you have to compete on price. Where exactly does this information come from? Somehow, this myth has found a way to continue living on the Web, and a number of online retailers have become convinced by this misinformation that the only way they can succeed is by cutting their prices to increase their sales.
This is most certainly the situation when it comes to the holiday season, which is ironically well on its way, being August. It’s understandable, as the holiday season is a time for huge promotions and a lot of competition.
Realistically, every purchase decision comes down to one thing – a perceived risk versus reward. It’s all about incentives. The best online retailers found a way to focus on mitigating consumer doubts while enticing shoppers with that proverbial carrot on a string. Sure, low prices can defiantly help, but that isn’t always the case.
In a post by David Rekuc, he has found nine more ways that, as an online retailer, you can lower your customers’ perceived risk and maybe even increase the perceived reward of a given transaction. To find out what these nine ways are, check out David’s post on Marketing Land!
Marketing Land: The Biggest Myth In Online Retail