4 Signs You Are Pricing Your Products Too Low And Leaving Money On The Table

Whether you are selling digital products, physical products, conference tickets or sponsorships, your net profit is largely dependent on the prices you set for your customers. But it’s a difficult thing to get right. If you set your prices too low, you won’t make any profit whereas if you set them too high, you’ll drive customers away. Besides not generating as much revenue, setting your prices too low also has the negative effect of attracting more difficult customers. Anyway I don’t have all the answers, but today I’ll do my best to provide you with some insight based...

6 Strategies To Differentiate Your Online Store From the Competition

The biggest problem that I see with brand new ecommerce entrepreneurs is that they don’t spend enough time figuring out how to differentiate themselves from the competition. They’ll use tools like Jungle Scout or Long Tail Pro to find a profitable niche that’s not that competitive. But then they’ll go out and sell the exact same product as everyone else. People who find good arbitrage opportunities this way will often do well for a short period, but it’s just a matter of time until copycats and competitors eventually eat away at their margins. And because there is no brand recognition...

How To Use Psychology To Increase Sales And Get Customers To Buy More

I really hate getting nickel and dimed, especially when I believe that two items should come packaged together at no additional cost. For example, every time I go to McDonalds and order Chicken McNuggets, I get really annoyed. Back in the good old days, McDonalds used to give you as many packets of sauce as you wanted for free whenever you ordered their Chicken McNuggets. But a while back, they started charging you for extra sauce that exceeded their recommended quota. Today when you order 20 nuggets, you are only allocated 3 packages of sauce. For a...

Underhanded Tactics Evil Amazon Sellers Are Using To Cheat And Get Ahead

Amazon is a cutthroat marketplace which is why most sellers rarely give specifics about their products or talk about their winners in public. In fact Amazon is so competitive that if you have a product that is even mildly successful, you will eventually get piggybacked by multiple sellers if you haven’t been already. Anyway up until this point, I thought that getting piggybacked or hijacked on Amazon was the worst that could happen. But a recent conversation with a fellow Amazon seller opened up my eyes to other insidious activities that are happening on the platform right now. The tactics...

How To Fight, Win And Prevent Credit Card Chargebacks For Physical And Digital Product Sales

Whether you sell physical or digital products online, at some point you’ll experience a chargeback no matter how good your customer service is or how great your products are. Now before I begin, I want to explain the definition of a chargeback. As you know, whenever you buy anything with a credit card, the credit card company protects you from any sort of fraud that a merchant might commit. This includes incorrect amounts charged to your card, failure to deliver the goods as promised or shipping faulty or damaged products. When any of these things happen, you can...

These Powerful Quotes Completely Changed My Outlook On Business And Life

A common question I get asked is how I manage to run an ecommerce store, a blog, a podcast, an online store course and a conference all while working a full time job with 2 young kids. And truth be told, it’s not because I’m superhuman or more productive than the average person. It’s not because I do anything especially fast. In fact, people who have seen me in action know that I drop things on the floor all the time and I can be pretty disorganized at times. The reason I’m able to accomplish what I do is...

The Future Of Selling On Amazon And Key Takeaways From My Ecommerce Mastermind

As I mentioned in last week’s email newsletter (sign up here for free), I just got back from an ecommerce mastermind weekend with 11 other entrepreneurs and it was an incredible experience. In the Silicon Valley where I live, almost all of my close friends either work full time at a tech company or practice as a doctor or lawyer. Very few people I know sell physical products online which is why I often feel lonely with no one to talk to when it comes to ecommerce. Anyhow, this mastermind retreat was just what I needed because it was an opportunity...

How To Get 300 Email Subscribers Per Day And My Best Converting Signup Forms

Last year, my blog made over 700K and email marketing generated almost 90% of my revenues. As a result, optimizing the performance of my email signups and my newsletter copy is a constant priority. Recently, I came across an awesome article on the SumoMe.com blog where they published real conversion data across different email signup forms collected from their millions of users. So today, I thought it would be interesting to compare my performance with their published numbers. First off, according to SumoMe, here are the conversion averages for the various tools that they offer. Editor’s Note: If you are not...
css.php