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Welcome to Day 12 of the Dropified 60-Day Challenge!
Once a customer has added one product to their cart, there is a high probability that they will purchase additional products, if you have related variants (style, color, size) or similar products within the same category. Think about how you purchase products online; if you are buying a new facial cleanser you are likely to also purchase a new exfoliating cloth or sponge. That’s a basic example about the importance and opportunity of offering functionally related products for your customers.
The result is an increase to your AOV (average order value) for each customer. The next step is to determine the perceived value of the product, so that you can apply a pricing strategy that generates sales, while protecting your target profit margin.
Did you know that customer reviews on eBay, Amazon and other Big Box stores are a value resource when it comes to pricing research? Consumers are not shy about sharing their comments about the value they received for the cost of the product. Chase and Lowell will review resources to help you determine a fair but competitive price for each product you sell.
Growing your e-commerce revenue also means finding the perfect balance between low-cost (and sometimes lower value expectation products) and higher value products with robust profit margins. We’ll share some tips from power selling e-commerce professionals, to help you create that strategy for your store.
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Day 12 Quiz
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Earned Point(s): 0 of 0, (0) What determines how much you can charge a customer for a product?
How many products should you order immediately from Amazon, E-bay or Local Supplier as test products (for marketing, un-boxing videos & testing purposes)?
What is one way to increase your Average Order Value?
If you visit New York during the rainy season and you are about to buy an Umbrella you should:
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Dropified® is a software application, which allows you to easily import and manage dropshipped products into your favorite e-commerce platform (like WooCommerce, Shopify and others) and then ship those products you’ve sold, directly to your customers wherever they may live on this planet – in only a few clicks… without EVER physically touching the product. You can also easily import and sell products that can be found from dozens of amazing hand picked vendors. Oh and for some of the major vendor platforms like Ebay, AliExpress, Alibaba, you even have complete automation.This help center aims to get you up to speed on eCommerce as a whole, as well as the technical aspects of utilizing a software like Dropified. Here, you won’t find all of the educational answers of topics external to the software – however, the aim is to familiarize you with topics you need to be mindful of!