Do you want to earn 100000$ per month by dropshipping? Do you know how to get it and where this dropshipping done ?
It’s most common nowadays and you see it in many ecommerce store . Many people including teenagers earn 6 figure monthly and few of them earn these in just a week.
Ebay etsy are popular and most of these store owner are young ,teenerger. Best of dropshipping is you can start with nearly no money and live your dream life with flexibility .
In this blog post you will know how you can make 6 figure earning monthly by dropshipping in step by step and also will get some bullet tricks to success in dropshipping.
In my previous post I shared about life saving tips and tricks to boost youtube video views and subscriber with youtube algorithm favour .
To learn more about youtube algorithm and boost views,subscriber visit : https://bit.ly/3Mo4fTb
Table of content:
1)Introduction
2)previous post recap
3)what is dropshipping?
4)How to start dropshipping ?
5)How teenagers make 100000$ by dropshipping ?
6)bullet tricks for dropshipping bussiness success
7)conclusion
🗯What is dropshipping?
This is the bussiness model I which by using your website or store you can sell any supplier products to your customer and after sell you will get commission on % . You can get these products with o investment usually .
👉How to start dropshipping?
To start dropshipping bussiness you need follow 5 steps and continue it with many test and trial to get desired result of accomplish goal.
1)Select niche:
Everyone have passion for something right ? So must be you also have and you can follow it when selecting your bussiness niche.
All bussiness need time and when you work with your favourite one you will not tired ,you will enjoy it that’s why it will be easy for you to pass journey to achieve success .
Remember your passion niche should be relatable and helpful for others and you need to find out how your niche can add value to others need.
Or, if you are someone who do not own passion then you can start with product which are related to daily needs of customers .
2)Get your bussiness registration:
To start bussiness legally trade licence must . It will not only give you support legally but also it will help you to get good impression when you promote your product .
Also supplies do priority to them who have legit licence . For long time bussiness growth its mandatory .
You can get it within 2/3 days and some region may be 7 days. Trade licence cost vary with type of bussiness.As you are doing online you will get it in less cost .
3)Make your own website:
As you are starting a online bussiness you need to have your website to showcase products and that is the main place or office like offline bussiness for your customers .
To create website you need hosting ,domain, website development and design and all you can get in cheap price from namecheap.
1 of three mandatory parts of dropped is finding suppliers on your niche . Wholesale, manufacture usually you will get in Google not facebook ,
in Facebook retail bussiness sourcing good but when you need bulk buy sell with legit suppliers then in Google search you will get those suppliers detail.
You need to go personally to each supplier and compare theire price and offers . In Alibaba you will get easily all wholesale suppliers, manufacturer and compare them, everything in one platform.
5)Advertising:
Now you have niche,website,supplier,products so now its time for advertising these products to customers.
You can start with organic marketing by advertising on social media. Facebook is charming option fir getting customers as you know Facebook us the biggest social media platform.
All types people are there and As your product will go for big population there are more possibilities of conversion and your brand awareness will increase.
You need follow strategies and testing multiple times what work . Repeat this until get result.
♡ How teenergers make 100000$ per month by dropshipping?
Anyone can do dropshipping bussiness like teenerger you also can make 100000$ monthly but it will need time,patience.
Few get it within 1 years and few get within 6/7 years as I mention before testing strategies what works to know.
When you get that point now you can make as you want by promoting to those big audiences who are looking for your products .
Choose a high ticket products and sale 100 per month . suppose If one products you get 1000$ comission for 1000 products you will get 100000$. That’s simple make a target to sell high ticket high comissions products and work on it .
At the beginning you will not get much sell but with passion and time your scenery will change.
♤Bullet tricks to dropshipping bussiness success:
*Success in short time comes with choosing right thing in right time so after choose niche find out which popular hot selling,high demand , check it fro.
* Amazon today deal,repurchase and also check Facebook, Instagram which products people engaging most, if any product post within 1 day get more than 10 comments then its good choice of products. Select few products and market .
*Check what other seller like you doing to sell those products . Follow them how they make high sell and try to be better than this. Theire ads posting look like,theire hashtag that should recheck and get inspiration do better.
Now you know what is dropshipping and how to do it .so test and try with strategies and do it until get your desire success.
If you like this post and interested to get started on dropshipping or if you are already dropshiper do comment below . Or just say hi .
If you like to read this type content follow us @ www.digitalish9.com and also connect with us
How to Start a Million-Dollar AI-Integrated Business on YouTube and Instagram . The world of business has drastically changed in the past decade, and AI is now playing a major role in it.
With the emergence of YouTube and Instagram as powerful marketing platforms, there has been a significant shift in the way people do business.
Today, businesses are not just using AI for automation, but also for creating content and engaging with customers.
In this article, we will explore how you can start a million-dollar AI-integrated business on YouTube and Instagram. We will look at the different steps involved in building your business, and the tools and strategies that you can use to make it successful.
Step 1: Choose your niche
The first step in building your AI-integrated business is to choose your niche. Your niche is the area in which you will focus your content and marketing efforts.
There are two ways to choose your niche:
1. Choose a niche based on your talents and skills 2. Choose a niche based on market trends
If you choose a niche based on your talents and skills, you will be able to create content that is authentic and true to your interests.
However, if you choose a niche based on market trends, you will be able to reach a wider audience and potentially make more money.
If you are not sure what niche to choose, look at the current market trends on YouTube and Instagram.
Financial education, the tech industry, edutainment, fitness and healthcare, and how-to videos are currently in high demand. These niches are not only popular but also very profitable.
Step 2: Create Meta Data
Once you have chosen your niche, the next step is to create your meta data. Meta data refers to the information that appears on your YouTube or Instagram profile, including your channel name, logo, channel banner, description, and about page.
With the help of AI, you can create SEO-friendly meta data that will attract more viewers to your channel. One AI tool that you can use for this purpose is Chat GPT.
With Chat GPT, you can generate descriptions for your about page, which are not only SEO-friendly but also sound natural and engaging.
By using AI to create your meta data, you can save time and ensure that your content is optimized for search engines.
Step 3: Produce Content
The next step is to start producing content for your YouTube or Instagram channel. With the help of AI, you can create high-quality content quickly and efficiently.
One way to use AI for content creation is to use AI-powered video editors that can automatically edit your videos to make them more engaging and professional.
Another way to use AI for content creation is to use AI-generated scripts for your videos. By using AI-generated scripts, you can create content that is not only informative but also engaging and entertaining.
AI-generated scripts can help you save time and ensure that your content is always fresh and interesting.
Step 4: Promote Your Content
Once you have produced your content, the next step is to promote it on YouTube and Instagram. With the help of AI, you can promote your content more effectively and efficiently.
AI-powered marketing tools can help you identify the right audience for your content and create targeted ads that will reach them.
Another way to promote your content is to use AI-powered influencer marketing. Influencer marketing involves partnering with influencers in your niche to promote your content to their followers.
By using AI to identify the right influencers, you can ensure that your content is seen by the right audience.
Step 5: Monetize Your Channel
The final step is to monetize your channel and start making money. There are several ways to monetize your YouTube or Instagram channel,including:
1. Advertising revenue:
You can earn money by displaying ads on your videos or Instagram posts . If you are interested in earning money through advertising revenue from your blog or social media posts, there are several steps you can take to optimize your content and increase your chances of success.
Here are some tips:
●Build a following:
In order to attract advertisers, you will need to have a sizable following on your blog or social media accounts. This means consistently creating high-quality content that resonates with your target audience, and engaging with your followers through comments and other interactions.
●Choose the right advertising platform:
There are many advertising platforms available, such as Google AdSense and Facebook Ads, that allow you to display ads on your blog or social media posts. Research the different options available and choose the one that best fits your content and target audience.
●Optimize your content for SEO:
Search engine optimization (SEO) can help you increase your visibility on search engines like Google, which can in turn drive more traffic to your blog or social media accounts. Use relevant keywords, include high-quality images and videos, and create content that is valuable and informative to your target audience.
●Create engaging content:
The more engaging and compelling your content is, the more likely it is that people will stick around to watch your videos or read your blog posts. Use a variety of content formats, such as video, infographics, and podcasts, to keep your audience interested and engaged.
●Stay up-to-date on trends:
Keep up with the latest trends in your industry or niche, and create content that is relevant and timely. This will help you attract a larger audience and keep them coming back for more.By following these tips, you can increase your chances of earning money through advertising revenue from your blog or social media posts. However, it’s important to remember that building a successful online presence takes time, effort, and dedication, so be patient and stay consistent with your content creation and marketing efforts.
For YouTube, you will need to enable monetization on your channel and meet the eligibility requirements. For Instagram, you can apply for the Instagram Partner Program to start earning money from ads.
2)Brand deals and sponsorships:
You can work with brands to promote their products or services in your videos or Instagram posts. This can involve creating sponsored content, such as product reviews or sponsored posts, or appearing in brand campaigns.
3)Affiliate marketing:
You can earn a commission by promoting products or services in your videos or Instagram posts. This can involve including affiliate links in your content or partnering with affiliate marketing programs.
4)Merchandise sales:
You can sell merchandise, such as t-shirts, hats, or other branded items, to your audience. This can be done through an online store or through a third-party platform, such as Teespring or Spreadshirt.
5)Crowdfunding:
You can ask your audience to support your channel through crowdfunding platforms, such as Patreon or Kickstarter. This can involve offering exclusive content or rewards to your supporters.
It’s important to note that building a successful YouTube or Instagram channel takes time and effort, and monetizing your channel should not be the primary focus. Instead, focus on creating high-quality content that resonates with your audience and building a loyal following.
As your channel grows, you can explore different monetization strategies that align with your brand and values.
It’s important to note that building a successful YouTube or Instagram channel takes time and effort though use the power of AI OR NOT and monetizing your channel should not be the primary focus.
Instead, focus on creating high-quality content that resonates with your audience and building a loyal following. As your channel grows, you can explore different monetization strategies that align with your brand and values.
YouTube, the second largest search engine in the world, closely trailing Google, boasts an astonishing user base of 2 billion individuals.
On this wildly popular platform, an astounding one-fourth of all internet users spend more than 10 hours every day watching videos. Because of this, YouTube has a lot of unrealized potential for companies looking for profitable channels.
You may not have given YouTube much thought, but let me assure you that it is a great source of entertainment on days when we all need a pick-me-up.
76 different languages are supported by this incredible technology, making it accessible to a huge number of individuals. It’s ideal for all kinds of clients who want to unwind and have fun rather than using it for work-related activities.
However, when people come across something truly unique when browsing YouTube, it has the power to grab their attention and perhaps even motivate them to engage with it. This indirect engagement could successfully entice customers.
Pay attention, fellow entrepreneurs! Think about it: when clients actually enjoy your services, they become your biggest cheerleaders, gladly recommending you to others.
This amazing phenomena alone has the ability to increase your referrals dramatically and easily. And what’s this? A staggering 55% of clever marketers have taken advantage of YouTube’s marketing potential.
So, my friends, as you craft your strategic marketing plans, I implore you to consider this invaluable tool and its immense benefits for your business.”
(Data source:www.hubspot.com)
Do you use or want to use Instagram for bussiness? I wrote my previous post about selling on Instagram suitable for start up to expert for anyone . If you like to read check it https://bit.ly/3B1f3RT
Table of content:
1)Introduction
2)previous post recap
3)what is YouTube marketing
4)10 steps of youtube marketing
5)Best practices of youtube marketing
6)conclusion
What is youtube Marketing?
Learn About the Marketing Power of YouTube! It takes a diverse range of tactics to maximize the potential of your goods, services, or companies on the dynamic YouTube platform.
Get ready for the fascinating world of influencer marketing, captivating YouTube ads, and the skill of utilizing clever strategies like split testing to unleash unparalleled efficacy. Get ready to see your brand reach new heights!
10 steps of youtube marketing:
1)create youtube channel 2)study audience 3)study competitors 4)Takes inspiration from other channel 5)create youtube video regular 6) SEO on your video 7)SEO on your channel 8)promote youtube video by youtube ads 9)promote youtube videos to other platforms 10)Influencer marketing
*Go to youtube and sign in by using Google account
*Go to upper right hand on your account
*click your channel option In how to create your channel page you will have 2 option choose custom name option for your brand channel.
*Next page you will have to give a name to your channel that you can edit later
*Now your youtube channel creation complete
*It’s time for channel customization .
-Upload profile photo that is relatable to your brand -upload banner That showing your product or services
-Upload 2 different videos for 2 different audiences one for visitor potential subscribers and another for returning visitor
-In general information option add your website link,name,email address
-create your channel trailer video
*Now Go to youtube . on youtube setting go to your account and there channel manager option click . You can add,remove,assign role and give them permission to use email and also you can delect your brand account here.
2)study audience:
Before creating your enthralling videos, set out on an intriguing quest of discovery.Three questions to ponder include: Who exactly makes up your loyal audience? What captures their attention? Who do they devotedly follow, and what captivating films do they devour voraciously?
Let’s start with an exciting split test as you enter this formative stage. Go public with your films and explore the depths of analytics.
Therein lays the key to learning which fascinating videos your loyal audience finds most appealing. What country are they from?
Which channel do people use to access your magnificent works of art? What captivating gender and age range do they represent?
You should let their sophisticated tastes direct you as you create and release more of those same mesmerizing videos. then lose yourself in the trance of their priceless commentary.
3)Study competitors:
Knowing who and what your competitors are doing will help you expand more quickly. Examine their channels, videos, most popular posts, subscriber count, and audience size.
Find out what their channel’s primary focus is. Don’t forget to read the comments and pay attention to what people are saying. You will gain knowledge of the content holes you can fill, the lessons you can take away from them, and the things you can apply to your own channel as a result.
By reading the comments on such channels, you can learn about the interests of the audience in that particular area.
To compare yourself to them and work toward greater growth, keep track of your monthly progress.
4) Taking inspiration from other channel:
Discover the Exciting World of Trending Channels and Entertaining Videos! Learn about their newest trends,
learn about their video and audio editing methods, and be amazed by the flawless quality of their content.
Explore their Clever Tag Use, look at their Interesting Descriptions, Catchy Thumbnails, and Beautiful Cover Photos.
Remember to Enjoy Their Exciting Trailer Videos! You’ll discover insightful information about what you’re missing out on and gain clarity on what you need to do next by thoroughly analyzing these channels.
5)create youtube video regular:
Success is mostly dependent on consistency. Regularly add videos to make it simpler. If you find it difficult, consider scheduling video uploads.
Maintaining a connection with your audience is essential, and the easiest way to achieve it is through producing content frequently.
6)SEO on your video:
To optimize your video for better search engine visibility, follow these simple tips:
Make sure to use your core keyword in both the title and the first three lines of the description when choosing a catchy title and summary.
This increases SEO and draws in more viewers. Make an eye-catching thumbnail: Make use of an attention-grabbing thumbnail to draw in viewers.
Use well-known keyword tags: Include tags that are well-known and pertinent to the content of your videos. Use brand-specific tags, secondary keywords, and tags specific to your channel.
Pay attention to content tags: Choose tags that are closely connected to the content of your videos. Use only relevant tags; else, your post can be deleted.
Choose the right language and video category: Select the appropriate language and genre for your video. This improves how well your material is understood by the YouTube algorithm.
Check your YouTube Studio video settings: To make sure everything is correct and optimized, check the caption, description, and settings for your video on YouTube Studio.
Think about age limitations: Choose the appropriate age limit if your content is not acceptable for minors.
The promotion of unsuitable content for children is becoming prevalent. Be sure to use a short title. To avoid being truncated in search results, keep your title to 60 characters or less.
Make sure your titles are compelling: Create titles for YouTube videos that immediately pique the interest of the viewer.
Make use of hashtags To increase discoverability, add pertinent hashtags to your title and description.
Engage your audience in the description by including a strong call to action or an appealing summary in the first 100 words to grab their attention.
Include multilingual subtitles: Increase the accessibility and audience of your video by including subtitles in a variety of languages in the captions and descriptions.
These techniques can help you improve the SEO of your video, draw in more visitors, and boost interaction on your YouTube channel.
7)SEO on your channel:
Let’s start by designing your channel before we optimize it for SEO. This is your chance to leave a lasting impression.
Start by concentrating on the bio area, which is what viewers first see when they visit your channel. Inform your guests about yourself in the bio. Describe your motivation for starting this channel, your qualifications and experience, and the goals you have for it.
Be sure to add tags for your brand, products, and services, as well as keywords appropriate to your niche. The end card watermark option is located in the customisation tab.
You can select what you want your visitors to see next with this function. You can display your thumbnail, other videos, or whatever else you want viewers to explore.
8)Promote youtube video by youtube ads:
There are a few considerations you should make in order to use YouTube advertising efficiently. To begin with, make sure your channel has at least 10 videos, each of which should be at least 10 minutes long.
This aids in building a strong YouTube presence. It’s important to know your audience. Learn as much as you can about the target audience for your adverts. Even your most well-liked channel videos might be used as advertisements.
Don’t forget to make an attention-grabbing banner to draw in your viewers. You can choose to allow viewers to skip or not allow them to skip your video when running your commercials.
You can decide which strategy best achieves your objectives. Keep in mind that only YouTube or other sites of your choosing will display your advertising.
Consider investing in YouTube advertisements for the greatest impact even though Google advertisements is a pricey but very effective option.
Easy Steps to Create YouTube Ads:
●Go to Google AdWords: Start by visiting Google AdWords, the platform for managing your YouTube ads.
●Create a New Campaign: Click on the option to create a new campaign and get started.
● Choose Campaign Types: Select the type of campaign you want to run on YouTube. You can choose from options like search, display, shopping, videos, or apps. For YouTube, select the “Videos” option.
● Define Your Goal: Decide on the goal of your campaign. You can choose options like increasing sales, generating leads, or building brand awareness. For YouTube, select “Product and Brand Consideration” as your goal.
●Specify Subtype and Category: Further refine your campaign by selecting the subtype and category. Choose “Influence” as the subtype and continue.
●Set Campaign Budget and Dates: Determine your campaign budget and specify the start and finish dates for your ads.
●Customize Ad Details: Provide a name for your ad, select the target location, decide on exclusions, choose the ad network and devices to target, and set the frequency of your ads.
●Create Ad Groups: Create ad groups within your campaign and tailor them to specific demographics, keywords, topics, and placements to narrow down your target audience.
●Add Your Video URL: Paste the URL of your selected video for the ad. Choose where you want the ad to appear and what will happen when a visitor clicks on it. Use a clear and compelling call-to-action (CTA).
● Save and Review: Save your settings and proceed to review your ads before finalizing everything. By following these simple steps, you’ll be on your way to creating engaging YouTube ads
9)promote youtube video by other platform:
Create an email list, and then promote your YouTube videos with emails. To draw viewers to your YouTube channel, make use of your YouTube videos on your website or blog. Participate in social media marketing on websites like Facebook and Instagram, as well.
10)Influencer marketing:
Influencer marketing is becoming more popular, so this is the ideal time for you to participate. Try using YouTube ads and social media marketing first, then move on to influencer marketing. Although working with prominent influencers can be costly, don’t fear!
To develop your next marketing plan, you might continue collaborating with smaller influencers and reviewing campaign statistics.
BEST practices of youtube marketing:
Effective YouTube Marketing Tips:
1.Consistently post videos on a set schedule.
2.Keep your expectations realistic and logical when starting out.
3.Share your videos on other platforms.
4.Create playlists for your videos and include videos from others that you enjoy.
5.Use captivating thumbnails that accurately represent your content.
6.Include a clear call-to-action in your videos.
7.Consider using animated videos or present yourself in your own videos, or ask others to talk about your content.
8.Optimize each video to improve its visibility.
9.Include links to your products, services, or social media in the video description.
10.If you’re unsure about the niche for your YouTube videos, consider popular options like food, product reviews, tutorials, vlogs, ASMR, YouTube Live, thought leader interviews, or motivational videos.
Finally, I would like to encourage you to study this article and obtain useful knowledge for your YouTube marketing. You may effectively increase sales for your company with the use of these insights.
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THE SINGLE MOST SIGNIFICANT ELEMENT FOR A BUSINESS TO REMAIN COMPETITIVE IN THE MARKET IS ITS PRICING STRATEGY.
IF PRICING IS DONE INCORRECTLY, CUSTOMERS WILL STOP BUYING FROM YOU.
YOU MUST COMBINE THE FOUR PS OF PEOPLE, PLACE, PRODUCT, AND PRICE IN ORDER TO GET THE RIGHT PRICING.
IF ANY OF THESE 4PS ARE IN THE WRONG PLACE, SUCH AS PEOPLE WITH LESS CAPABILITY AND YOUR PRICE IS HIGH THAN THEIR AFFORDABILITY, THEY WON’T BUY YOUR PRODUCT.
ALSO, WHERE YOU SELL AND WHERE YOU BUY THESE PLACES MATTER FOR PRICING.
ALWAYS PURCHASE PRODUCTS AT LOWER PRICES TO SELL THEM AT HIGHER PRICES OR IN SCARCER QUANTITIES.
A PRICING STRATEGY MUST BE CREATED IN ORDER TO SUCCEED IN BUSINESS, JUST LIKE ANY OTHER FORM OF WORK.
I’LL SHARE THE 5 MOST USEFUL POPULAR PRICING STRATEGIES TODAY.
In my previous post I shared about “How to increase YouTube subscriber? “If you want to increase your YouTube subscriber read here https://bit.ly/3GRfZMg
IT IS A WAY TO SET A PRODUCT’S OR SERVICE’S PRICE BASED ON CONSUMER DEMAND AND SUPPLY IN ORDER TO MAXIMIZE PROFIT.
Types of pricing strategy:
1) COMPETITION-BASED PRICING::
FOR THIS TYPE OF PRICING, YOU MUST SET YOUR PRICES BELOW THOSE OF YOUR RIVALS AND INCLUDE EXTRA BENEFITS FOR CUSTOMERS
THAT SET YOU APART FROM THEM, SUCH AS A GENEROUS RETURN POLICY AND EXTRA CUSTOMER SERVICE.
Pros: You’ll get more business if your price is well reasonable than your competitors.
Cons: Since product costs and demand are unaffected, you could suffer a significant loss if your production costs are higher than those of your rivals.
2) cost plus or mark up :
FOR THIS TYPE OF PRICING, YOU MUST MULTIPLY YOUR PRODUCTION COSTS BY THE PERCENTAGE OF PROFIT YOU HOPE TO MAKE FROM THE PRODUCT.
PROS: YOU CAN ANTICIPATE HOW MUCH PROFIT THERE WILL BE. NO WORRIES ABOUT SELLING AT A LOSS, THEN.
CONS: SINCE YOUR COMPETITORS MUST OFFER THE SAME PRICES AS YOU, IF THEY SELL THEIR PRODUCTS FOR LESS THAN YOU DO AND UTILIZE THAT AS A MARKETING STRATEGY TO GAIN MORE CLIENTS, YOU WILL LOSE CLIENTS BECAUSE CUSTOMERS MUST RESEARCH PRODUCTS BEFORE MAKING A PURCHASE AND THEY HAVE BETTER OPTIONS, SO WHY CHOOSE YOU?
3)Dynamic:
THIS KIND OF PRICING GUIDE FOR SEASONAL BUSINESSES LIKE HOTEL, RESTAURANT, AND SELLING AIRLINE TICKETS. YOU CAN SET A PRICE IMMEDIATELY IN RESPONSE TO CUSTOMER DEMAND.
Pros : YOU HAVE A VARIETY OF PRICING OPTIONS, WHICH DRAWS MORE CUSTOMERS.
CONS: YOU MUST BE AWARE OF THE BEST SEASONS FOR YOUR BUSINESS OR FACE HIGH DEMAND. IF THERE IS A MISMATCH, YOU WILL LOSE MONEY.
4)Freemium:
With this pricing, you can provide free service for a limited period of time or with certain features. In this way, pricing is done to entice customers to premium offers.
Pros : By gaining customers’ trust in your business, you can perhaps persuade them to upgrade to premium services.
Cons: A few customers will choose to use free instead of converting. So Your Investment May Be Lost.
5)High low:
In this pricing strategy, products that were once sold for a higher price but were out-of-date or seasonal are now sold for a lower price. These Prices Provide Discounts, Like Black Friday Discounts. Thus, seasonal products like clothing, décor, and furniture sell using various pricing models.
Pros : Customers wait for this type of product, which boosts sales.
Cons: Large Sales at Much Lower Prices, Making It Sometimes Hard To Recoup Investment.
6) Hourly:
If your business is service-based, you might want to try hourly pricing because it rewards labor rather than efficiency. If you have a lot of projects and it’s hard to find the time, you can also price your entire project on an hourly basis, which will give customers the chance to consider your price and complete some tasks quickly.
Pros : You will receive more customers without having to decline them due to workload.
Cons: When you are pressed for time working on other projects, you cannot provide many customers.
7)skimming:
In this pricing, the price of your product depends on its life cycle. As time passes and an item’s quality or lifespan declines, its price decreases from when it is first introduced. like TV and games.
Pros : Your old stock did well on the market.
Cons: Customers who purchase new products may become envious if they are sold at a discount and given the option to switch to a competitor.
8) penetration :
If you’re just starting out in business or want to expand to another nation, you can use this pricing strategy because you’ll first offer a low price to attract new clients or steal clients away from your rivals who are charging high prices. This Pricing Should Only Be Used For A Limited Period of Time Since It Will Not Produce Any Profit.
Pros : You can enter a market with a strong customer base and offer prices that will rise over time.
Cons: When prices increase, customers can leave. So You Need Slowly Rising Price.
9)premium:
In this pricing, you will set your product’s price in accordance with consumers’ perceptions of it in the market. If they deem it more valuable or exclusive, they will charge a high price for it. As High As Additional Luxury Is Considered. Here, influencer marketing is used to promote luxury goods including real estate, jewelry, and gold.
Pros : You can charge a high price to make more money.
Cons: Not Many People Purchase Luxury. Therefore, you must identify those types of wealthy people.
10) project based:
In project-based pricing, the cutter hires you for your service-based business in accordance with the timeline for project completion.
Pros: You’ll receive one payment from the customer for the entire duration. You now have proof of work and the chance to work on further projects for this client in the future.
11) value based:
With this pricing strategy, you will set prices based on what your customers are willing to pay or what they are interested in.
Pros : By connecting with customer sentiment, you’ll win over loyal customers who will help you market your product.
Cons: You must manage multiple buyer personas at once and adjust pricing accordingly.
12)Bundle sell:
Using this strategy, you will sell multiple goods or services at a discounted rate compared to purchasing them separately.
Either as a complete bundle or separately from that bundle, you can sell.
Pros : You can sell products upfront that are more difficult to sell when sold separately. Both your customers and your revenue will benefit from a large sale you can make.
13)psychological:
This tactic makes use of consumer psychology to encourage purchases.For instance, if you give a customer 99% off, they’ll assume the price is below $100 when in fact there is only one difference.
You can make offers of the buy one, get one free or 50% off variety. This makes the customer think that they can get more for less money.
You Need A Deep Understanding Of That Market And Customer To Use This Type Of Pricing.
What the Client Wants. Do They Want Low Price Or High Quality? If Not, Provide Pricing.
14) Geographic:
Create Pricing Based On Location. You can use online advertising to reach any market and sell there for a profit.
🌿8 Most commonly use pricing strategy for online bussiness:
1)public pricing:
Create a pricing list for your product or service and display it publicly so that any website visitors may quickly choose the right option for them.
It is ideal for new or inexperienced business owners. Your business will become more transparent to customers as a result.
2)private pricing:
For this pricing, the customer must request a quote. One takes one to two days, therefore there is a chance of losing a customer. Use this price only if you have prior business ownership experience.
3) Freemium pricing:
Usually Software Or Technology Businesses Use This Strategy. They Provide Initially Free For A Period Of Time In The Hope That Customer Will Convert To Paid Premium Package.
4)psychology pricing:
This type of pricing is typically done in retail sales or online sales with lucrative discount offers.
5)customer oriented pricing:
In this pricing model, the customer is asked to provide their budget and goals in order to receive better pricing advice.
When you offer packaged pricing and customers are unable to choose the best option for their needs, this type of pricing works.
6)package pricing:
This kind of pricing is applicable both online and offline. To provide more value, you can create multiple packages offline as well as online.
For example, you could offer three packages of a particular product for free or at a low cost, followed by medium and premium prices.
You could suggest the popular sell of the medium option. The issue is that although we customers can buy more expensively, you provide less.
7)value based pricing:
For This Strategy, Understand Your Customer’s Needs. If They Want High Value Or Discounted Products. Therefore, Present Them.
8)competitive pricing :
Based on your competitor price give low price to be dynamic.
💥How Do You Pick the Best Pricing Strategy?
1) Examine the potential for your product or service based on the geographic location where you want to supply it,
the state of the market there, your inventory, and customer demand.
2) Analysing competitor data at the target location.
3) PAIN POINT ON THE BASIS OF BUYER PERSONA OR CUSTOMER WILLING TO PAY.
4) MAINTAIN BALANCE BETWEEN THE VALUE OF YOUR PRODUCT AND YOUR BUSINESS GOAL.
5) DATA ANALYSIS OF YOUR PRICES STRATEGY FROM PRIOR SUCCESSFUL OFFERS.
Finally, PRICING STRATEGY IS A CRUCIAL PART OF YOUR PROFIT OR LOSS, SO CREATE YOUR STRATEGY BY MANY SMALL TESTING PRIOR TO CREATING FINAL PRICING AND FIRSTLY CHECK WHICH PRICING IS RIGHT FOR YOUR BUSINESS GOAL.
