If you own an e-commerce business, you know how difficult it is to set up the right price to attract customers. If you set the price too high, you scare away the prospect. However, without raising prices, it will be difficult to get more profit. Here is how web data extraction can help:
Extract customers’ information, and find out disgruntled customers. Then bring up their satisfaction by fine-tuning your market strategies. If they think you set the price too high, you put in a bundle to decrease the marginal cost. The point is that people love to pay more for a product with more value. And we can improve our product or service that our competitors are missing.
Next, make a dynamic pricing strategy. The price is not a firm set. This is commonly seen when you buy airline tickets. The price gets extremely high during the holiday season. whereas the flight ticket will be very cheap if the destination is not popular. This is due to market demand. You can use web data extraction to track prices on promotion events, like Black Friday. This enables you to keep up with the changes and adjust your pricing strategy in a timely manner.
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