E245: Raising Prices – How Selling Fewer Things Can Make You More MoneyMay 2, 2019 in Ecom-Crew-Podcast
Amazon is crowded. Everyone and their mom is hawking something on Amazon, and since there’s only a finite number of stuff most people are willing to buy, everyone is clawing their way up from the competition to page 1.
One tactic sellers employ to get more sales is to lower their prices. The lower your price, the more sales you get. It only makes sense, right?
While it is true to some extent, at the end of the day the race to the bottom hurts the most important thing in business: profits.
In this episode, I am joined by 5 Minute Pitch contestant Amanda Wittenborn of Amanda Creations to talk about how lowering prices can actually hurt your business, and conversely, how raising prices can make you more money.
In addition, we also discuss:
- Whether it’s better to learn how to market a new website or hire an expert to do it
- The most important factors that influence the ability to scale
- How a business can stay relevant in 2019
Amanda is a designer who is passionate about spreading joy to kids and convenience to moms by offering custom design services for every celebration. Check out her creations here.
Thanks for listening to this episode! Until the next one, happy selling.
Michael started his first business when he was 18 and is a serial entrepreneur. He got his start in the online world way back in 2004 as an affiliate marketer. From there he grew as an SEO expert and has transitioned into ecommerce, running several sites that bring in a total of 7-figures of revenue each year.