Jacob Fowlds-Cameron’s Post

🔬 Our latest market leaderboards have just been released for Q1 I thought I'd focus on the Electrical Category in the US market as there's been some serious movement within the top 20 For clarity, this is for the below categories 👇 Sector: Electricals Search Engine: Google US Categories: Computing | Home appliances | Small appliances | Smart tech & phones | Sound & vision Search Terms: 12,011 of the most commercially valuable terms What changed in Q1? ⚔ Apple and Amazon are very closely matched in competition in this category with Amazon just moving ahead of them last Q 🎮 Honourable mentions for Nintendo moving up a massive 6 places ☕ Nespresso going up a huge 11 places putting them in the top 20 for this category (they are good coffee machines...) For the full leaderboard 👉 https://lnkd.in/eaRm43kZ For all other sectors 👉 https://lnkd.in/eAkxs6FD #SEO #seo #digitalmarketing #ecommerce #digitalstrategy #competitor analysis

Your maximum sourcing price defined in the data driven way. We know how tough it is to figure out how much is too much to bid for used devices and, at the same time, how too little gets you no inventory. That is why we have created ResellWell, our retail resale data insights product that gets you comfortable and strategic with your sourcing. https://lnkd.in/e3S3ms6b #refurbished #buyback #apple #samsung #smartphones #sourcing #recommerce

Yesterday I promised you that I would share a pricing strategy to boost your CVR by improving the product's perceived value. 🎯 The Strategy Unveiled 🎯 The true magic of this strategy lies in the pricing of lower-end products or items with lower quantities. Surprisingly, these lower-tier options are priced relatively higher than one might expect. This strategic decision subconsciously influences customers to perceive these options as more premium, high-quality, or exclusive compared to the other variations. Let's take an example. A mobile company "Xmobiles" wants to market a new model it is launching at Rs.1999. The company wants to create a perception of exclusivity and luxury for this device, enhancing its perceived value and ultimately driving more sales. Instead of offering just one standard variant of Xmobile, the company introduces three distinct variations: 1. Xmobile basic: Only basic features included like calls, messaging, etc. Priced at Rs. 1299. 2. Xmobile pro: Basic features + gaming capabilities + camera. Priced at 1699. 3. Xmobile ultimate: Pro features + Internet + Free earphone. Priced at 1999. The higher pricing of Xmobile Basic serves as an anchor point for potential customers. It sets a higher standard and positions the Pro and Ultimate variants as more desirable options. Customers start to perceive the Pro and Ultimate as offering "superior value for money" since they get additional features and exclusive perks at only a slightly higher cost compared to the Basic version. In conclusion, the Multi-Variation Pricing Strategy, with its twist of pricing the lower-end product at a higher cost, can effectively enhance the perceived value of a product, influence consumer behavior, and contribute to the overall success of the product launch. PS: Given example is only fictional and should not be taken seriously!

We've seen a boost of 35% in AOV. 😱 🔥 It’s like unlocking a secret level in a game where the points are real dollars, and the game is your business. Why Bundle? 🤔 Bundling is all about creating value. It’s like a buffet where you can enjoy more for less. Customers love the deal they’re getting, and you’ll love the increased engagement and sales. Boost Sales and Clear Inventory ✨ Pair slow-moving items with hot sellers in a bundle to clear out inventory and introduce customers to products they might not otherwise consider. It’s a win-win: your inventory moves, and customers discover new favorites. The Psychological Edge 🧠 Bundling simplifies the buying process. It reduces the hassle of decision-making by offering a packaged deal that’s too good to pass up. Customers enjoy the ease of choice, and you enjoy the boost in sales. Increase Average Order Value 🛒 Bundling naturally increases the average order value. Customers end up spending more per transaction, enhancing your profits without the hard sell. Crafting the Perfect Bundle 🔧 Create bundles that make sense together, like a tech gadget pack with a phone case, screen protector, and portable charger. It’s all about complementing the customer’s lifestyle and needs. Make It Special 🍭 Add a unique twist to your bundles with limited-time offers or exclusive items. Make your bundles irresistible with catchy, fun descriptions and vibrant graphics. #ecommerce #bundling #tips

The global revenue in electronics is forecasted to increase in the next 5 years and more consumers are turning to browsing these products online 🔍 What is your intention when browsing electronic products online? 🛍️ Are you actively looking to buy, seeking inspiration or just browsing to pass the time? 🛒 #consumerbehaviour #consumers #summersales #shopping #onlineshopping #ecommerce #electronics #digitalmarketing #digitalmarketingagency

Standing Out From the Crowd: A Brilliant Campaign by Nothing Phone (2a) Loved this recent #marketing #campaign by Nothing Phone (2a)! Their #AsUniqueAsYou! initiative truly captured the essence of #individuality in our fast-paced world. Imagine walking through a bustling city center and #encountering a billboard that #encourages you to #celebrate what makes you #unique . That's exactly what Nothing Phone (2a) did! This #innovative concept used billboards to put people in the spotlight, prompting them to share their unique #qualities and take a moment to #appreciate what makes them special. It's a simple yet #powerful reminder that in a world that often emphasizes #conformity , #embracing our individuality is what makes us truly #beautiful . This campaign is a great example of how #marketing can go beyond #selling a #product and #connect with #people on a deeper level. Do you think #celebrating individuality is important? Share what makes YOU unique in the comments! ~Karthi Seemala #NothingPhone2a #BeUniquelyYou #EmbraceYourIndividuality #MarketingDoneRight Flipkart

How to increase average order value (AOV) per customer? The literal meaning of AOV is how much revenue you earn from selling to a customer in defined time (month, qtr, year) In consumer electronics where a repeat purchase is not daily but months apart it becomes very difficult to optimize a customer value. You can’t ask your customers to buy two earphones at once or two earbuds at once. Mostly customers have three products an earbud for convenience, a neckband for athleisure activities and a spare earphone for backup in case of emergency. But once buy them you are done for at least a year(assuming you bought a good branded product) So no more purchase means no revenue. In such scenarios we always have to pursue new customers and this why consumer brands have to continuously spend on advertisements. Other solution could be to diversify your product portfolio. But not many brands have been able to this successfully. It takes different approach, resources and manpower to pivot. But if done properly it can reap huge benefits in terms of establishing your brand trust. You can be successful only if you have a product for every need of your customer or you are selling in monopoly. Both are difficult but both has been done in diverse markets. #revenueoptimization #customerlifetimevalue #brandvalue #advertisingstrategies #startupfunding #founderstories #consumerelectronics #d2cbrands #d2cmarketing

Have you ever bought something just because it was popular or "trending"? You're not alone. The bandwagon effect is a psychological phenomenon that heavily influences consumer behaviour. It's the tendency to adopt trends, styles, and attitudes because others are doing the same. Consider a popular trend in tech gadgets. If everyone is praising the latest ‘it’ item, it's easier for others to hop on the bandwagon without fully evaluating its benefits. This internal bias shapes decisions, sometimes steering us away from choices that truly match our needs. In retail, the bandwagon effect can be seen when brands label products as "trending" or "popular." Consumers are more likely to select items that appear endorsed by the crowd. The bandwagon effect isn't just about following—it's about the interplay between external influence and internal biases. It also works well because decision-making is often overwhelming for humans. The "most popular" option or the "flavour of the day" label can guide decisions. This bandwagon effect, combined with the price anchoring, simplifies decision-making for customers, making them more likely to say "yes." The bandwagon effect is one way you can amplify your price anchoring and a small section of our blog on the topic. Ready to learn more about price anchoring? Read the full here: https://lnkd.in/gKM8ADtn in Retail #Vetrina #CannabisRetail #DataIsSexy #PriceAnchoring #PricingStrategies #BandWagonEffect #ConsumerBehaviour #RetailPsychology

Best Buy in 2006 was crazy. Wii vs PS3 LCD vs Plasma Windows vs Apple Blu Ray vs HD DVDs Competition leads to options. With options, consumers turn to experts. Best Buy staff at that time were the most knowledgeable about these products. Buyers would come from Walmart, Sears, and Circuit City to get educated before they make a big purchase. The Best Buy team were product experts. They KNEW Walmart was cheaper. But they bought from us anyway. Because they trusted us. That mentality is truer today than it was in 2006. Find your niche. Become an expert. Reach your customers. Earn their trust. You do this by knowing your market, your competitors, your products, and most importantly, your consumer's needs - inside and out. Buyers will not prioritize price ahead of that. -- Were you a Best Buy shopper in its heyday? 👇

💲Decoding the Price Tag💲 This week, I dived into the fascinating world of pricing strategies! There's more to that price tag than meets the eye. 👀 Gone are the days of simply adding a markup to production costs #costbasedpricing. Today, companies employ a variety of tactics to influence our purchasing decisions. One strategy that caught my attention is #customervaluebased pricing. This approach focuses on a product's perceived value for the customer, not just how much it costs to make. Think about it: a high-end watch might have a hefty price tag, but the value it offers – status, craftsmanship – justifies the cost in the buyer's mind. I sure am guilty of this when I buy myself food! Companies using these tactics aim to demonstrate the product's worth beyond its basic function. Steve Jobs' iconic 2010 iPad presentation is a prime example. By showcasing the iPad's innovative features, he positioned it as a valuable tool, making the $499 price tag (he reportedly fought for a lower price than the proposed $999) seem more acceptable. Speaking of strategic pricing, have you noticed how many products end in ".99"? This isn't a coincidence! Marketers use #charmpricing, the psychology behind the belief that a product priced at $9.99 feels cheaper than $10. It's a subtle nudge that can influence our buying behavior. Finally, there's #competitionbased pricing. Here, companies analyze competitor pricing and adjust their prices accordingly. They might undercut the competition, match their prices, or position themselves as a premium option. Understanding these strategies helps us become savvier consumers. Next time you see a sale, consider if it's a genuine discount or just a way to clear inventory. By recognizing the tactics behind #pricing, we can make more informed purchase decisions! #byuh #BYUHawaii Tserennyam Sukhbaatar Tutehau Hunkin