#UserTesting Gives your business exactly what it needs to scale. We provide authentic, truthful, and unbiased feedback for your products and also help you fix the hurdles that come up. In short, a complete package to make your product/ service a hit!

Design Better Forms – User Experience Design https://t.co/NgKeP2Epwg

Short forms that only ask for necessary information can reduce checkout abandonment rates.

Almost 40% of mobile users abandon checkout due to difficulties in inputting personal information.

Bundle your products or services to give customers more value for their money.

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✅ Tailor your approach according to your customers' price sensitivity thresholds. ✅ Use price hikes judiciously, given their inherent risks.

✅ Use price anchoring: Offer a higher-priced option alongside your regular product to make the regular price seem like a bargain. → Example: Apple. ✅ Be transparent about price increases. Customers are more likely to accept them if you explain why prices are going up.

✅ Bundle products or services to give the impression of more value for money. ✅ Introduce a new, higher-priced product or service to raise prices without affecting existing customers.

✅ Gradually phase in price increases to give customers time to adjust. →Example: Netflix. ✅ Increase the perceived value of the product or service, rather than the price itself. Add new features or improve customer service.

Raising prices can be daunting for businesses as it risks losing customers. Here are some strategies to balance price and value, without alienating your customers ⬇️

Tailor your pricing approach according to your customers' price sensitivity thresholds.

Gradually phasing in price increases can help customers adjust, without losing them. → Take a cue from @netflix

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❌ But don't just guess at your pricing strategy. By taking the time to do a cost analysis and considering these factors, you can develop a pricing model that maximizes profits and provides value to your customers.

✅ Consider your target market's willingness to pay for your product. Pricing sensitivity tends to increase as the perceived value of a product decreases. For example, luxury items often have less price sensitivity than essential items.

Factors that can impact price sensitivity include your target market, your competitors, and the perceived value of your brand and products. It's important to conduct your own pricing sensitivity analysis and assess costs against the pricing of similar products on the market.

💰 Pricing is a delicate balance, influenced by many factors. Here's what you need to consider to set the right price for your products ⬇️

❌ Don't miss out on revenue opportunities by ignoring the importance of price analysis in e-commerce! ✅ Gain a deep understanding of how your pricing affects consumer behavior and use data to develop a pricing model that works best for your brand.

Want to stay ahead of the competition in e-commerce? → Analyze price sensitivity! By identifying optimal price points and considering factors like cost and demand, you can develop a pricing model that maximizes revenue while staying competitive.

One TIP to measure pricing sensitivity is to compare your product's pricing with a lower or higher-priced alternative and ask customers which they'd be most inclined to buy and why.