Zero in on strategic prices to make the best of social commerce

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 12, 2021, 5:25 PM UTC

Products that are too expensive generally do not perform well on social media platforms.

Social media may be an effective space to sell a variety of products and services. But high-end offerings generally do not perform well compared to products that move quickly. This is also because consumers tend to spend less time researching products on social media.

 Products under $70 tend to work best on social media, while anything more expensive is too “risky” a purchase. Along with strategic pricing, brands must keep an eye on comments and feedback from customers to identify what they think about the brand. This helps marketers optimise the shopping experience.

Focus marketing strategies on social media platforms the target audience is most active on and encourage reviews from clients. Positive customer reviews and user-generated content help marketers gather social proof and help potential customers trust the brand.

Read the original article

[13 minute read]