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<!DOCTYPE html><html lang="en"><head><title>Pricing Strategy for Ecommerce – Is Your Price Right?</title><meta charSet="utf-8"/><meta name="viewport" content="width=device-width,initial-scale=1"/><meta name="robots" content="index, follow, max-image-preview:large"/><meta name="description" content="Coming up for prices for your products can be confusing... if you don't have a pricing strategy. Learn the best pricing strategies for ecommerce businesses."/><meta property="og:type" content="website"/><meta property="og:site_name" content="Oberlo"/><meta property="og:title" content="Pricing Strategy for Ecommerce – Is Your Price Right?"/><meta property="og:description" content="Coming up for prices for your products can be confusing... if you don't have a pricing strategy. Learn the best pricing strategies for ecommerce businesses."/><meta property="og:image" content="https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898829-money-saving-bank-2.jpg?v=1714646445"/><meta property="og:url" content="https://www.oberlo.com/blog/pricing-strategy-for-ecommerce"/><meta property="twitter:card" content="summary_large_image"/><meta property="twitter:site" content="Oberlo"/><meta property="twitter:title" content="Pricing Strategy for Ecommerce – Is Your Price Right?"/><meta property="twitter:description" content="Coming up for prices for your products can be confusing... if you don't have a pricing strategy. Learn the best pricing strategies for ecommerce businesses."/><meta property="twitter:image" content="https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898829-money-saving-bank-2.jpg?v=1714646445"/><link rel="alternate" hrefLang="it" href="https://www.oberlo.com/it/blog/strategie-di-prezzo"/><link rel="alternate" hrefLang="de" href="https://www.oberlo.com/de/blog/preispolitik"/><link rel="alternate" hrefLang="pt" href="https://www.oberlo.com/br/blog/precificacao-produtos"/><link rel="alternate" hrefLang="en" href="https://www.oberlo.com/blog/pricing-strategy-for-ecommerce"/><link rel="alternate" hrefLang="x-default" href="https://www.oberlo.com/blog/pricing-strategy-for-ecommerce"/><link rel="preload stylesheet" as="css" href="https://cdn.shopify.com/shopifycloud/brochure-iii/production-oberlo/assets/oberlo-BULXPc27.css"/><link rel="icon" 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itemProp="name">Andrew Roach</span></span></span><span class="mx-4 w-1 h-1 bg-gray-90 rounded-full hidden md:block"></span><time dateTime="Sun Aug 07 2022 09:45:43 GMT+0000 (Coordinated Universal Time)">7 Aug, 2022</time></div><div><nav id="toc" class="mt-[20vh] pt-12 overflow-hidden w-full fixed bottom-0 left-0 bg-white transition-transform duration-300 ease-out z-50 toc lg:overflow-visible lg:transform-none lg:top-0 lg:max-w-md lg:bg-white/0 lg:max-h-screen lg:pointer-events-none translate-y-[calc(100%-48px)]" aria-label="Post contents"><button class="fixed top-0 w-full h-12 flex justify-between items-center text-blue-10 bg-gray-10 z-10 shadow toc-trigger lg:text-gray-70 lg:w-auto ease-in duration-300 transition-colors hover:text-blue-10 lg:bg-white lg:text-gray-70 lg:absolute lg:pointer-events-auto"><figure class="w-8 h-8 mx-6 flex justify-center items-center"><svg width="20" height="20" viewBox="0 0 20 20" xmlns="http://www.w3.org/2000/svg" class="fill-current"><path d="M3.349 8h1.474V.954h-1.47L1.534 2.22v1.328L3.26 2.346h.088V8zM.912 13.093H2.28c0-.689.45-1.172 1.167-1.172.689 0 1.09.459 1.09 1.035 0 .488-.191.81-1.07 1.665L.996 17.01V18h5.082v-1.186H2.982v-.088l1.465-1.397c1.172-1.113 1.533-1.68 1.533-2.505 0-1.186-.957-2.05-2.45-2.05-1.544 0-2.618.947-2.618 2.319z"></path><rect x="8" y="2" width="12" height="2" rx="1"></rect><rect x="8" y="8" width="12" height="2" rx="1"></rect><rect x="8" y="14" width="12" height="2" rx="1"></rect></svg></figure><div class="flex-1 text-left mr-6 text-label font-sans uppercase lg:text-size-xs">Post content</div><div class="w-8 h-8 mr-6 flex justify-center items-center hidden"><svg width="20" height="20" viewBox="0 0 20 20" fill="#04042D" xmlns="http://www.w3.org/2000/svg" class=""><path d="M10 8.586l4.293-4.293a1 1 0 111.414 1.414L11.414 10l4.293 4.293a1 1 0 01-1.414 1.414L10 11.414l-4.293 4.293a1 1 0 01-1.414-1.414L8.586 10 4.293 5.707a1 1 0 011.414-1.414L10 8.586z"></path></svg></div></button><div class="overflow-y-auto scrolling-touch shadow-md transition duration-300 ease-out bg-white toc-headlines max-h-[calc(100vh-35vh)] lg:pointer-events-auto lg:max-h-full lg:translate-x-[-100%]"><ol class="pb-6 list-none"></ol></div></nav><div class="fixed inset-0 m-0 bg-black/75 md:hidden z-40 toc-overlay hidden"></div></div><div class="my-12 md:px-24" id="article-content"><div class="single-post"><p><span style="font-weight: 400;">Creating a pricing strategy for your <a href="/podcast/ecommerce-business" target="_blank" rel="noopener noreferrer">ecommerce business</a> is <i>essential, </i>but it certainly isn’t simple. </span></p> <p><span style="font-weight: 400;">It takes time to land on the “right” price for <a href="/ebooks/best-products-to-sell">your products</a>. That’s true regardless of how much experience you have as an entrepreneur.</span></p> <p><span style="font-weight: 400;">But, when it’s your first time launching an online business, coming up with a <a href="/blog/pricing-strategies">pricing strategy</a> is especially tricky.</span><span style="font-weight: 400;"> </span></p> <p>You need to factor in all of the costs that you’ll incur when you’re selling your products (including <a href="/ebooks/dropshipping/marketing-strategies">marketing campaigns</a>) and come up with prices that your customers love <em>and </em>allow you to maximize your profit margins.</p> <p><span style="font-weight: 400;">And when you consider that price is one of, it not the </span><i><span style="font-weight: 400;">most important factor </span></i><span style="font-weight: 400;">that helps shoppers decide where they’re going to shop, you’re going to want to nail your pricing strategy. </span></p> <p><span style="font-weight: 400;">That’s exactly why we’ve created this post. We’re going to dive into the popular pricing strategies that ecommerce businesses use, and break down which one is best for your business. </span></p> <p><span style="font-weight: 400;">At the end of this post you’ll know everything that you need to come up with a pricing strategy that you can implement today. </span></p> <p><span style="font-weight: 400;">So, let’s jump into it, shall we? </span><span style="font-weight: 400;"></span></p><h2><span id="What_is_a_Pricing_Strategy"><b>What is a Pricing Strategy?</b></span></h2> <p>Before we dive too deep, let’s take a step back and explain what a pricing strategy is. Essentially, a pricing strategy is a a set of rules or methods that businesses can use to price their products and services.</p> <p><span style="font-weight: 400;">Make no mistakes, pricing strategies are </span><a href="/blog/email-marketing-platforms"><span style="font-weight: 400;">marketing tactics</span></a>, and nailing your pricing is one of the best ways to <a href="/ecommerce-wiki/landing-page"><span style="font-weight: 400;">improve your conversion rate</span></a><span style="font-weight: 400;">. </span></p> <p>Running an online business without a pricing strategy is like running a race without a track. You need to have a pricing strategy in place when you’re running an online business so you can make sure that you don’t price your products too high, <em>or worse</em>, too low.</p> <h2><span id="Pricing_Strategies_for_Ecommerce_Cost-based_Pricing"><strong>Pricing Strategies for Ecommerce:</strong><strong> Cost-based Pricing</strong></span></h2> <p><span style="font-weight: 400;"><img src="https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603898923-holding-hundred-dollar-bills-1.jpg" alt="" width="1024" height="683"></span></p> <p><span style="font-weight: 400;">Okay, first up we’ve got the cost-based pricing strategy. </span></p> <p><span style="font-weight: 400;">We’re kicking off with this pricing strategy because it’s undoubtedly the simplest one.</span></p> <p><span style="font-weight: 400;">Cost-based pricing is essentially coming up with a price for your products by adding the cost of your products (including <a href="/videos/shipping-costs-dropshipping" target="_blank" rel="noopener noreferrer">shipping costs</a>) and the margin that you want to make from each product. </span></p> <p><span style="font-weight: 400;">Of course, you’ll need to factor in the marketing costs into these prices too, otherwise you’ll run the chance that you could makesales without actually making any profit.</span></p> <h3><span id="How_Does_Cost-based_Pricing_Work"><b>How Does Cost-based Pricing Work?</b></span></h3> <p>When you’re creating a cost-based pricing strategy for your business, there are two main things that you need to worry about.</p> <p>The total cost that you incur when you’re making a sale, and the profit margin that you want to make per sale.</p> <p>So, let’s use an example to show exactly how cost-based pricing works.</p> <p>Let’s say that you’re running an <a href="/blog/ultimate-guide-to-starting-a-womens-clothing-brand">online women’s clothing store</a>, and you’re selling crop tops.</p> <p>You’re <a href="/blog/oberlo-dropshipping">dropshipping</a>, so you won’t need to worry about production costs, as you’re purchasing your products directly from your supplier every time you make a sale.</p> <p><span style="font-weight: 400;">It costs you $5 to source your products from your supplier, and $2 to ship the products to your customers. </span></p> <p><span style="font-weight: 400;">That takes you to $7 in total. </span></p> <p><span style="font-weight: 400;">Then you set a cost of $5 more per product for <a href="/blog/the-beginners-guide-to-facebook-advertising">Facebook ads</a> to draw in traffic to your online store and land a conversion. </span></p> <p><span style="font-weight: 400;">So, in total you’ll spend $12 to source a product, make a sale, and ship it to our customer. </span></p> <p><span style="font-weight: 400;">Pretty simple so far. </span><span style="font-weight: 400;">Next, you’ll need to decide the amount of money that you want to charge per product to complete this cost-based pricing strategy. </span></p> <p><span style="font-weight: 400;">You could try selling the crop tops at $15 each, or even $20, and see if you can land the sales – you’d be earning a decent profit at both of those prices. </span></p> <h3><span id="Advantages_of_Cost-based_Pricing_Strategies"><b>Advantages of Cost-based Pricing Strategies</b></span></h3> <p>Honestly, cost-based pricing is just so simple, which is why it’s a good option for beginner entrepreneurs.</p> <p>You can create a pricing strategy without in-depth research into your customers, or the market you’re operating in.</p> <p>If you can land sales with the marketing budget that you’ve afforded yourself in your pricing strategy, you’ll be able to rest easy knowing that every sale you land is bringing in profit.</p> <p>And, of course, you can then reinvest that profit into your marketing campaigns, and try to bring in even more sales.</p> <h3><span id="Disadvantages_of_Cost-based_Pricing_Strategy"><b>Disadvantages of Cost-based Pricing Strategy</b></span></h3> <p>The main problem with cost-based pricing strategies is that they simple <em>aren’t customer focussed.</em></p> <p>Instead, they’re business focussed.</p> <p>You use this pricing strategy and think about how much money <em>you </em>want to make, rather than how much money <em>your customer </em>wants to pay.</p> <p>It’s always important to think about your customers when you’re running a business, even if you don’t have any right now.</p> <p>That’s because your customers are the fuel that powers your business. Without them, you simply cannot move forward.</p> <h2><span id="Pricing_Strategies_for_Ecommerce_Competition-based_Pricing"><strong>Pricing Strategies for Ecommerce: Competition-based Pricing</strong></span></h2> <p><span style="font-weight: 400;"><img src="https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603898830-tech-staff-at-table-working.jpg" alt="" width="1024" height="683">Competitor-based pricing is another commonly used pricing strategy for ecommerce businesses. </span></p> <p><span style="font-weight: 400;">It’s a pricing strategy that is more complex than cost-based pricing, but it’s still accessible for entrepreneurs of all experience levels. </span></p> <p><span style="font-weight: 400;">That’s because a competitor-based pricing strategy, as the name implies, focuses on researching the competitors in your niche. </span></p> <h3><span id="How_Does_Competition-based_Pricing_Work"><b>How Does Competition-based Pricing Work?</b></span></h3> <p>When you’re creating a competition-based pricing strategy you’ll need to analyze other brands who are selling products similar to yours, and note down the prices that they have set for their products.</p> <p><span style="font-weight: 400;">And, of course, that research will spain the high-end boutiques </span><i><span style="font-weight: 400;">and </span></i><span style="font-weight: 400;">the budget stores. </span></p> <p><span style="font-weight: 400;">Why? Well, when it comes to researching competitors you really want to do it right. </span></p> <p><span style="font-weight: 400;">You want to get a strong feeling for what’s happening at all ranges of the niche you’re selling in before you can be confident in creating a competitor-based pricing strategy. </span></p> <p>Then, you’ll use that research to choose the prices for your own products. <span style="font-weight: 400;">And, if you do your research right, this pricing strategy can be really effective. </span></p> <p>Now, you <em>could </em>just manually look through your competitor’s websites and check their prices one by one.</p> <p>That’s totally fine – you’ll get a good understanding of the market that you’re operating in like this, even if it does take time.</p> <p>But, you could also use a <span style="font-weight: 400;"><a href="https://prisync.com/?utm_source=oberlo&utm_medium=textlink&utm_campaign=guestpost">price tracking tool</a>, which will collect data about your competitor’s prices for you, without the manual work. </span></p> <p>Once you’ve got a good idea of what the average price is for the products in your niche, compare it against the cost that it takes you to make a sale, and the difference between those two figures is your wiggle room.</p> <p>So, if the average price for a yoga mat is $40, but it only costs you $20 to source and sell your product, you’ll be able to price your product anywhere from $20-$50.</p> <p>Not bad, huh?</p> <p><em>Pssst! Yoga mats are on our list of the best sports products to sell in 2021. Want the rest of the list? Just click <a href="/blog/best-sports-products-sell-2020">here</a>. </em></p> <h3><span id="Advantages_of_Competition-based_Pricing_Strategies">Advantages of Competition-based Pricing Strategies</span></h3> <p>Competition-based pricing strategies are fantastic for making sure that you’re selling your products around the market rate.</p> <p>It’s a pricing strategy that requires time and effort to implement, but it helps businesses like yours to come up with prices that are fair to you and your customers.</p> <h3><span id="Disadvantages_of_Competition-based_Pricing_Strategies"><b>Disadvantages of Competition-based Pricing Strategies</b></span></h3> <p>If you opt to use a competition-based pricing strategy for your business, you need to be careful that you don’t enter a “race to the bottom”.</p> <p>This happens when new businesses enter a niche and try to position their brands as the lowest price point.</p> <p>When multiple brands are doing this at the same time, they’re slashing their profit margins too, which means they’ll need to sell more products to earn the same amount of profit as their competitors.</p> <p>So, one of the <a href="/videos/dropshipping-tips-for-beginners" target="_blank" rel="noopener noreferrer">dropshipping tips</a> we often give to beginners is to find new ways to attract customers rather than slashing prices, because offering everything at a low price can have a negative impact on your company’s image.</p> <h2><span id="Pricing_Strategies_for_Ecommerce_Value-based_Pricing"><strong>Pricing Strategies for Ecommerce: Value-based Pricing</strong></span></h2> <p><img src="https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603898923-dollar-bills-stuffed-in-piggy-bank-1.jpg" alt="" width="1024" height="683"></p> <p>Okay – next we’re going to talk about value-based pricing strategies.</p> <p>This is perhaps the best pricing strategy for businesses who are looking for a long-term, scalable solution to pricing their products.</p> <p>And that’s because a value-based pricing strategy revolves around figuring out the <em>value </em>that you’re providing for your customers with your products, and pricing them accordingly.</p> <h3><span id="How_Does_Value-based_Pricing_Work"><b>How Does Value-based Pricing Work? </b></span></h3> <p>To create a value-based pricing strategy we’re going to need to blend elements of the <span style="font-weight: 400;">cost-based pricing strategy </span><i><span style="font-weight: 400;">and </span></i><span style="font-weight: 400;">the competition-based pricing strategy. </span></p> <p>That’s because we need to figure out how much “value” we bring, which is pretty abstract.</p> <p>So, to start off we need to figure out what our <span style="font-weight: 400;">“baseline” is – the lowest price that we can sell our products at.</span></p> <p>To do that we need to note down how much it costs to source the product, how much <a href="/videos/shipping-rates-adjustment" target="_blank" rel="noopener noreferrer">shipping rates</a>, and how much your projected marketing costs are to sell that product.</p> <p>Add of of those figures together and we’ll land on our baseline price.</p> <p>Next, we’ll need to lean into competition-based pricing tactics, and <span style="font-weight: 400;">do some market research.</span></p> <p>Take the time to identify your main competitors, and take some notes about how they price their products.</p> <p><span style="font-weight: 400;">In fact, make a list of all of the prices that you find for similar products to yours. </span></p> <p>Then we want to find the median price that your competitors are selling their products for.</p> <p>To do that, it’s super simple. Just add all of the prices together, and divide that sum by the number of prices that you wrote down.</p> <p><span style="font-weight: 400;">So, if you check 10 competitors, and wrote down 20 prices, you’d add them all up and divide by 20. </span></p> <p>Phew. Don’t worry, we’re almost there.</p> <p>Okay, at that point you’ll have two figures – your baseline, and your competition price.</p> <p>Let’s say your baseline is $20, and your competition price is $40, that’d mean you can price your products between $25-$40 and know that you’ll be able to make profit regardless.</p> <p>But deciding where exactly you put your prices on that scale is based on the <em>value </em>that you bring to your customers – your USP essentially.</p> <p>It doesn’t matter it’s your <a href="/blog/inspiring-mission-vision-statement-examples">brand’s mission</a>, your <a href="/blog/customer-loyalty-programs-grow-giving">loyalty programs</a>, or even just the high-quality materials in your products.</p> <p>You’re providing value with your business, so take action and decide where your products land between your baseline and competition price.</p> <p>And once you’ve decided that, you’re good to go – you’ll have a working pricing strategy.</p> <p>Not too tough, right?</p> <h3><span id="Advantages_of_Value-based_Pricing_Strategies"><b>Advantages of Value-based Pricing Strategies</b></span></h3> <p>A value-based pricing strategy is fair to both the brand <em>and </em>the customer.</p> <p>This can help you to improve <a href="/blog/customer-loyalty-programs-grow-giving">customer loyalty</a>, and when you consider that it typically costs <a href="https://forbes.com/sites/jiawertz/2018/09/12/dont-spend-5-times-more-attracting-new-customers-nurture-the-existing-ones/#18bbde035a8e">five times more</a> to acquire new customers than it does to get repeat purchases from existing customers, that’s powerful.</p> <p><span style="font-weight: 400;">Building a successful brand requires trust, and one of the first steps towards building trust with your buyers is offering your products at a fair price point. </span></p> <h3><span id="Disadvantages_of_Value-based_Pricing_Strategies"><b>Disadvantages of Value-based Pricing Strategies</b></span></h3> <p>The only real downside to value-based pricing is that sometimes it can be difficult to put a figure to “value”.</p> <p>Ultimately, the value that you provide is only worth as much as people are willing to pay.</p> <h2><span id="Nail_Your_Pricing_Strategy_Today"><b>Nail Your Pricing Strategy Today</b></span></h2> <p><span><b></b></span></p><p></p> <p>Great – now you know everything you need to create an ecommerce pricing strategy for your business and nail your pricing.</p> <p>Remember though, pricing is fluid. Prices constantly change, and you’ll need to keep on top of your prices as you’re running your business.</p> <p><span style="font-weight: 400;">You know your business best, so be fair with your pricing, and make sure that you gather learnings from every time you change the price of your products. </span></p> <p>Your shoppers are smart, so make smart decisions with your pricing strategies.</p> <p>Okay – so that’s it from us on pricing strategies. Is there anything else that you’d like to know about pricing strategies or pricing your products? Let us know in the comments below – we read them all!</p> <h2><span id="Want_to_Learn_More"><span id="Want_to_learn_more">Want to Learn More?</span></span></h2> <ul> <li style="font-weight: 400;"><a href="/blog/what-to-do-once-youve-made-your-first-sale"><span style="font-weight: 400;">What to Do Once You’ve Made Your First Sale</span></a></li> <li style="font-weight: 400;"><a href="/blog/dropshipping-mistakes"><span style="font-weight: 400;">18 Dropshipping F***ups: Successful Owners Share Their Most Memorable Mistakes</span></a></li> <li style="font-weight: 400;"><a href="/blog/best-selling-oberlo-products"><span style="font-weight: 400;">10 Best-Selling Dropshipping Products of All Time</span></a></li> <li style="font-weight: 400;"><a href="/blog/how-i-made-4500-in-9-weeks-selling-phone-cases"><span style="font-weight: 400;">How I Made $4,558.03 in 9 Weeks Selling Phone Cases</span></a></li> </ul></div></div></div></article><aside class="relative hidden xl:mb-12 xl:pt-12 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\",\"byLabel\",\"by\",\"breadcrumbs\",[290,293],{\"_111\":291,\"_264\":292},\"Home\",\"/oberlo/\",{\"_111\":149,\"_264\":294},\"/oberlo/blog\",\"pages/blog/$article/settings\",{},\"minervaUser\",\"pricing\",{\"_300\":301,\"_302\":303,\"_304\":305,\"_306\":307,\"_308\":32,\"_309\":310,\"_311\":312,\"_313\":314,\"_315\":316,\"_317\":318,\"_323\":324,\"_326\":312,\"_327\":32},\"annualDiscountPercentage\",25,\"basicAnnualPrice\",\"\u003cspan\u003e$29.00 USD\u003c/span\u003e\",\"googleCountryOffer\",\"$500 USD\",\"minimumMonthlyPrice\",\"$5\",\"minimumMonthlyPriceCurrency\",\"paidTrialAmount\",\"$1\",\"paidTrialMonths\",3,\"posProPriceUsd\",\"$89\",\"posRetailLocations\",\"1,000\",\"promoAmount\",{\"_319\":320,\"_31\":32,\"_321\":322},\"amount\",1,\"currencySymbol\",\"$\",\"signupTypes\",[325],\"paid_trial_experience\",\"trialLength\",\"usd\",\"processedData\",{\"_330\":-5,\"_331\":332,\"_333\":334,\"_109\":400},\"chatbotSettings\",\"sessionToken\",\"79162518-f766-4d4f-938b-3116c6be0dd0\",\"article\",{\"_335\":336,\"_337\":338,\"_99\":339,\"_111\":340,\"_341\":342,\"_343\":344,\"_348\":349,\"_354\":355,\"_356\":357,\"_358\":359,\"_363\":364,\"_368\":369},\"__typename\",\"Article\",\"id\",\"gid://shopify/Article/559858810902\",\"pricing-strategy-for-ecommerce\",\"Pricing Your Products – Pricing Strategies for Ecommerce Businesses\",\"publishedAt\",\"2024-05-02T10:40:45Z\",\"image\",{\"_335\":345,\"_6\":346,\"_347\":-5},\"Image\",\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898829-money-saving-bank-2.jpg?v=1714646445\",\"altText\",\"tags\",[350,351,352,353],\"build-your-business\",\"key:blog\",\"locale:en\",\"marketing\",\"contentHtml\",\"\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eCreating a pricing strategy for your \u003ca href=\\\"/podcast/ecommerce-business\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\"\u003eecommerce business\u003c/a\u003e is \u003ci\u003eessential, \u003c/i\u003ebut it certainly isn’t simple. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIt takes time to land on the “right” price for \u003ca href=\\\"/ebooks/best-products-to-sell\\\"\u003eyour products\u003c/a\u003e. That’s true regardless of how much experience you have as an entrepreneur.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBut, when it’s your first time launching an online business, coming up with a \u003ca href=\\\"/blog/pricing-strategies\\\"\u003epricing strategy\u003c/a\u003e is especially tricky.\u003c/span\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eYou need to factor in all of the costs that you’ll incur when you’re selling your products (including \u003ca href=\\\"/ebooks/dropshipping/marketing-strategies\\\"\u003emarketing campaigns\u003c/a\u003e) and come up with prices that your customers love \u003cem\u003eand \u003c/em\u003eallow you to maximize your profit margins.\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAnd when you consider that price is one of, it not the \u003c/span\u003e\u003ci\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003emost important factor \u003c/span\u003e\u003c/i\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ethat helps shoppers decide where they’re going to shop, you’re going to want to nail your pricing strategy. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThat’s exactly why we’ve created this post. We’re going to dive into the popular pricing strategies that ecommerce businesses use, and break down which one is best for your business. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAt the end of this post you’ll know everything that you need to come up with a pricing strategy that you can implement today. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSo, let’s jump into it, shall we? \u003c/span\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan id=\\\"What_is_a_Pricing_Strategy\\\"\u003e\u003cb\u003eWhat is a Pricing Strategy?\u003c/b\u003e\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003eBefore we dive too deep, let’s take a step back and explain what a pricing strategy is. Essentially, a pricing strategy is a a set of rules or methods that businesses can use to price their products and services.\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eMake no mistakes, pricing strategies are \u003c/span\u003e\u003ca href=\\\"/blog/email-marketing-platforms\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003emarketing tactics\u003c/span\u003e\u003c/a\u003e, and nailing your pricing is one of the best ways to \u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eimprove your conversion rate\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eRunning an online business without a pricing strategy is like running a race without a track. You need to have a pricing strategy in place when you’re running an online business so you can make sure that you don’t price your products too high, \u003cem\u003eor worse\u003c/em\u003e, too low.\u003c/p\u003e\\n\u003ch2\u003e\u003cspan id=\\\"Pricing_Strategies_for_Ecommerce_Cost-based_Pricing\\\"\u003e\u003cstrong\u003ePricing Strategies for Ecommerce:\u003c/strong\u003e\u003cstrong\u003e Cost-based Pricing\u003c/strong\u003e\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603898923-holding-hundred-dollar-bills-1.jpg\\\" alt=\\\"\\\" width=\\\"1024\\\" height=\\\"683\\\"\u003e\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eOkay, first up we’ve got the cost-based pricing strategy. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWe’re kicking off with this pricing strategy because it’s undoubtedly the simplest one.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eCost-based pricing is essentially coming up with a price for your products by adding the cost of your products (including \u003ca href=\\\"/videos/shipping-costs-dropshipping\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\"\u003eshipping costs\u003c/a\u003e) and the margin that you want to make from each product. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eOf course, you’ll need to factor in the marketing costs into these prices too, otherwise you’ll run the chance that you could makesales without actually making any profit.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan id=\\\"How_Does_Cost-based_Pricing_Work\\\"\u003e\u003cb\u003eHow Does Cost-based Pricing Work?\u003c/b\u003e\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003eWhen you’re creating a cost-based pricing strategy for your business, there are two main things that you need to worry about.\u003c/p\u003e\\n\u003cp\u003eThe total cost that you incur when you’re making a sale, and the profit margin that you want to make per sale.\u003c/p\u003e\\n\u003cp\u003eSo, let’s use an example to show exactly how cost-based pricing works.\u003c/p\u003e\\n\u003cp\u003eLet’s say that you’re running an \u003ca href=\\\"/blog/ultimate-guide-to-starting-a-womens-clothing-brand\\\"\u003eonline women’s clothing store\u003c/a\u003e, and you’re selling crop tops.\u003c/p\u003e\\n\u003cp\u003eYou’re \u003ca href=\\\"/blog/oberlo-dropshipping\\\"\u003edropshipping\u003c/a\u003e, so you won’t need to worry about production costs, as you’re purchasing your products directly from your supplier every time you make a sale.\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIt costs you $5 to source your products from your supplier, and $2 to ship the products to your customers. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThat takes you to $7 in total. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThen you set a cost of $5 more per product for \u003ca href=\\\"/blog/the-beginners-guide-to-facebook-advertising\\\"\u003eFacebook ads\u003c/a\u003e to draw in traffic to your online store and land a conversion. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSo, in total you’ll spend $12 to source a product, make a sale, and ship it to our customer. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ePretty simple so far. \u003c/span\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eNext, you’ll need to decide the amount of money that you want to charge per product to complete this cost-based pricing strategy. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eYou could try selling the crop tops at $15 each, or even $20, and see if you can land the sales – you’d be earning a decent profit at both of those prices. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan id=\\\"Advantages_of_Cost-based_Pricing_Strategies\\\"\u003e\u003cb\u003eAdvantages of Cost-based Pricing Strategies\u003c/b\u003e\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003eHonestly, cost-based pricing is just so simple, which is why it’s a good option for beginner entrepreneurs.\u003c/p\u003e\\n\u003cp\u003eYou can create a pricing strategy without in-depth research into your customers, or the market you’re operating in.\u003c/p\u003e\\n\u003cp\u003eIf you can land sales with the marketing budget that you’ve afforded yourself in your pricing strategy, you’ll be able to rest easy knowing that every sale you land is bringing in profit.\u003c/p\u003e\\n\u003cp\u003eAnd, of course, you can then reinvest that profit into your marketing campaigns, and try to bring in even more sales.\u003c/p\u003e\\n\u003ch3\u003e\u003cspan id=\\\"Disadvantages_of_Cost-based_Pricing_Strategy\\\"\u003e\u003cb\u003eDisadvantages of Cost-based Pricing Strategy\u003c/b\u003e\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003eThe main problem with cost-based pricing strategies is that they simple \u003cem\u003earen’t customer focussed.\u003c/em\u003e\u003c/p\u003e\\n\u003cp\u003eInstead, they’re business focussed.\u003c/p\u003e\\n\u003cp\u003eYou use this pricing strategy and think about how much money \u003cem\u003eyou \u003c/em\u003ewant to make, rather than how much money \u003cem\u003eyour customer \u003c/em\u003ewants to pay.\u003c/p\u003e\\n\u003cp\u003eIt’s always important to think about your customers when you’re running a business, even if you don’t have any right now.\u003c/p\u003e\\n\u003cp\u003eThat’s because your customers are the fuel that powers your business. Without them, you simply cannot move forward.\u003c/p\u003e\\n\u003ch2\u003e\u003cspan id=\\\"Pricing_Strategies_for_Ecommerce_Competition-based_Pricing\\\"\u003e\u003cstrong\u003ePricing Strategies for Ecommerce: Competition-based Pricing\u003c/strong\u003e\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603898830-tech-staff-at-table-working.jpg\\\" alt=\\\"\\\" width=\\\"1024\\\" height=\\\"683\\\"\u003eCompetitor-based pricing is another commonly used pricing strategy for ecommerce businesses. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIt’s a pricing strategy that is more complex than cost-based pricing, but it’s still accessible for entrepreneurs of all experience levels. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThat’s because a competitor-based pricing strategy, as the name implies, focuses on researching the competitors in your niche. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan id=\\\"How_Does_Competition-based_Pricing_Work\\\"\u003e\u003cb\u003eHow Does Competition-based Pricing Work?\u003c/b\u003e\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003eWhen you’re creating a competition-based pricing strategy you’ll need to analyze other brands who are selling products similar to yours, and note down the prices that they have set for their products.\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAnd, of course, that research will spain the high-end boutiques \u003c/span\u003e\u003ci\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eand \u003c/span\u003e\u003c/i\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ethe budget stores. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhy? Well, when it comes to researching competitors you really want to do it right. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eYou want to get a strong feeling for what’s happening at all ranges of the niche you’re selling in before you can be confident in creating a competitor-based pricing strategy. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eThen, you’ll use that research to choose the prices for your own products. \u003cspan style=\\\"font-weight: 400;\\\"\u003eAnd, if you do your research right, this pricing strategy can be really effective. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eNow, you \u003cem\u003ecould \u003c/em\u003ejust manually look through your competitor’s websites and check their prices one by one.\u003c/p\u003e\\n\u003cp\u003eThat’s totally fine – you’ll get a good understanding of the market that you’re operating in like this, even if it does take time.\u003c/p\u003e\\n\u003cp\u003eBut, you could also use a \u003cspan style=\\\"font-weight: 400;\\\"\u003e\u003ca href=\\\"https://prisync.com/?utm_source=oberlo\u0026amp;utm_medium=textlink\u0026amp;utm_campaign=guestpost\\\"\u003eprice tracking tool\u003c/a\u003e, which will collect data about your competitor’s prices for you, without the manual work. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eOnce you’ve got a good idea of what the average price is for the products in your niche, compare it against the cost that it takes you to make a sale, and the difference between those two figures is your wiggle room.\u003c/p\u003e\\n\u003cp\u003eSo, if the average price for a yoga mat is $40, but it only costs you $20 to source and sell your product, you’ll be able to price your product anywhere from $20-$50.\u003c/p\u003e\\n\u003cp\u003eNot bad, huh?\u003c/p\u003e\\n\u003cp\u003e\u003cem\u003ePssst! Yoga mats are on our list of the best sports products to sell in 2021. Want the rest of the list? Just click \u003ca href=\\\"/blog/best-sports-products-sell-2020\\\"\u003ehere\u003c/a\u003e. \u003c/em\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan id=\\\"Advantages_of_Competition-based_Pricing_Strategies\\\"\u003eAdvantages of Competition-based Pricing Strategies\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003eCompetition-based pricing strategies are fantastic for making sure that you’re selling your products around the market rate.\u003c/p\u003e\\n\u003cp\u003eIt’s a pricing strategy that requires time and effort to implement, but it helps businesses like yours to come up with prices that are fair to you and your customers.\u003c/p\u003e\\n\u003ch3\u003e\u003cspan id=\\\"Disadvantages_of_Competition-based_Pricing_Strategies\\\"\u003e\u003cb\u003eDisadvantages of Competition-based Pricing Strategies\u003c/b\u003e\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003eIf you opt to use a competition-based pricing strategy for your business, you need to be careful that you don’t enter a “race to the bottom”.\u003c/p\u003e\\n\u003cp\u003eThis happens when new businesses enter a niche and try to position their brands as the lowest price point.\u003c/p\u003e\\n\u003cp\u003eWhen multiple brands are doing this at the same time, they’re slashing their profit margins too, which means they’ll need to sell more products to earn the same amount of profit as their competitors.\u003c/p\u003e\\n\u003cp\u003eSo, one of the \u003ca href=\\\"/videos/dropshipping-tips-for-beginners\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\"\u003edropshipping tips\u003c/a\u003e we often give to beginners is to find new ways to attract customers rather than slashing prices, because offering everything at a low price can have a negative impact on your company’s image.\u003c/p\u003e\\n\u003ch2\u003e\u003cspan id=\\\"Pricing_Strategies_for_Ecommerce_Value-based_Pricing\\\"\u003e\u003cstrong\u003ePricing Strategies for Ecommerce: Value-based Pricing\u003c/strong\u003e\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603898923-dollar-bills-stuffed-in-piggy-bank-1.jpg\\\" alt=\\\"\\\" width=\\\"1024\\\" height=\\\"683\\\"\u003e\u003c/p\u003e\\n\u003cp\u003eOkay – next we’re going to talk about value-based pricing strategies.\u003c/p\u003e\\n\u003cp\u003eThis is perhaps the best pricing strategy for businesses who are looking for a long-term, scalable solution to pricing their products.\u003c/p\u003e\\n\u003cp\u003eAnd that’s because a value-based pricing strategy revolves around figuring out the \u003cem\u003evalue \u003c/em\u003ethat you’re providing for your customers with your products, and pricing them accordingly.\u003c/p\u003e\\n\u003ch3\u003e\u003cspan id=\\\"How_Does_Value-based_Pricing_Work\\\"\u003e\u003cb\u003eHow Does Value-based Pricing Work? \u003c/b\u003e\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003eTo create a value-based pricing strategy we’re going to need to blend elements of the \u003cspan style=\\\"font-weight: 400;\\\"\u003ecost-based pricing strategy \u003c/span\u003e\u003ci\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eand \u003c/span\u003e\u003c/i\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ethe competition-based pricing strategy. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eThat’s because we need to figure out how much “value” we bring, which is pretty abstract.\u003c/p\u003e\\n\u003cp\u003eSo, to start off we need to figure out what our \u003cspan style=\\\"font-weight: 400;\\\"\u003e“baseline” is – the lowest price that we can sell our products at.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eTo do that we need to note down how much it costs to source the product, how much \u003ca href=\\\"/videos/shipping-rates-adjustment\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\"\u003eshipping rates\u003c/a\u003e, and how much your projected marketing costs are to sell that product.\u003c/p\u003e\\n\u003cp\u003eAdd of of those figures together and we’ll land on our baseline price.\u003c/p\u003e\\n\u003cp\u003eNext, we’ll need to lean into competition-based pricing tactics, and \u003cspan style=\\\"font-weight: 400;\\\"\u003edo some market research.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eTake the time to identify your main competitors, and take some notes about how they price their products.\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn fact, make a list of all of the prices that you find for similar products to yours. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eThen we want to find the median price that your competitors are selling their products for.\u003c/p\u003e\\n\u003cp\u003eTo do that, it’s super simple. Just add all of the prices together, and divide that sum by the number of prices that you wrote down.\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSo, if you check 10 competitors, and wrote down 20 prices, you’d add them all up and divide by 20. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003ePhew. Don’t worry, we’re almost there.\u003c/p\u003e\\n\u003cp\u003eOkay, at that point you’ll have two figures – your baseline, and your competition price.\u003c/p\u003e\\n\u003cp\u003eLet’s say your baseline is $20, and your competition price is $40, that’d mean you can price your products between $25-$40 and know that you’ll be able to make profit regardless.\u003c/p\u003e\\n\u003cp\u003eBut deciding where exactly you put your prices on that scale is based on the \u003cem\u003evalue \u003c/em\u003ethat you bring to your customers – your USP essentially.\u003c/p\u003e\\n\u003cp\u003eIt doesn’t matter it’s your \u003ca href=\\\"/blog/inspiring-mission-vision-statement-examples\\\"\u003ebrand’s mission\u003c/a\u003e, your \u003ca href=\\\"/blog/customer-loyalty-programs-grow-giving\\\"\u003eloyalty programs\u003c/a\u003e, or even just the high-quality materials in your products.\u003c/p\u003e\\n\u003cp\u003eYou’re providing value with your business, so take action and decide where your products land between your baseline and competition price.\u003c/p\u003e\\n\u003cp\u003eAnd once you’ve decided that, you’re good to go – you’ll have a working pricing strategy.\u003c/p\u003e\\n\u003cp\u003eNot too tough, right?\u003c/p\u003e\\n\u003ch3\u003e\u003cspan id=\\\"Advantages_of_Value-based_Pricing_Strategies\\\"\u003e\u003cb\u003eAdvantages of Value-based Pricing Strategies\u003c/b\u003e\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003eA value-based pricing strategy is fair to both the brand \u003cem\u003eand \u003c/em\u003ethe customer.\u003c/p\u003e\\n\u003cp\u003eThis can help you to improve \u003ca href=\\\"/blog/customer-loyalty-programs-grow-giving\\\"\u003ecustomer loyalty\u003c/a\u003e, and when you consider that it typically costs \u003ca href=\\\"https://forbes.com/sites/jiawertz/2018/09/12/dont-spend-5-times-more-attracting-new-customers-nurture-the-existing-ones/#18bbde035a8e\\\"\u003efive times more\u003c/a\u003e to acquire new customers than it does to get repeat purchases from existing customers, that’s powerful.\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBuilding a successful brand requires trust, and one of the first steps towards building trust with your buyers is offering your products at a fair price point. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan id=\\\"Disadvantages_of_Value-based_Pricing_Strategies\\\"\u003e\u003cb\u003eDisadvantages of Value-based Pricing Strategies\u003c/b\u003e\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003eThe only real downside to value-based pricing is that sometimes it can be difficult to put a figure to “value”.\u003c/p\u003e\\n\u003cp\u003eUltimately, the value that you provide is only worth as much as people are willing to pay.\u003c/p\u003e\\n\u003ch2\u003e\u003cspan id=\\\"Nail_Your_Pricing_Strategy_Today\\\"\u003e\u003cb\u003eNail Your Pricing Strategy Today\u003c/b\u003e\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003e\u003cb\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\\n\u003cp\u003eGreat – now you know everything you need to create an ecommerce pricing strategy for your business and nail your pricing.\u003c/p\u003e\\n\u003cp\u003eRemember though, pricing is fluid. Prices constantly change, and you’ll need to keep on top of your prices as you’re running your business.\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eYou know your business best, so be fair with your pricing, and make sure that you gather learnings from every time you change the price of your products. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eYour shoppers are smart, so make smart decisions with your pricing strategies.\u003c/p\u003e\\n\u003cp\u003eOkay – so that’s it from us on pricing strategies. Is there anything else that you’d like to know about pricing strategies or pricing your products? Let us know in the comments below – we read them all!\u003c/p\u003e\\n\u003ch2\u003e\u003cspan id=\\\"Want_to_Learn_More\\\"\u003e\u003cspan id=\\\"Want_to_learn_more\\\"\u003eWant to Learn More?\u003c/span\u003e\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\"\u003e\u003ca href=\\\"/blog/what-to-do-once-youve-made-your-first-sale\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhat to Do Once You’ve Made Your First Sale\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\"\u003e\u003ca href=\\\"/blog/dropshipping-mistakes\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e18 Dropshipping F***ups: Successful Owners Share Their Most Memorable Mistakes\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\"\u003e\u003ca href=\\\"/blog/best-selling-oberlo-products\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e10 Best-Selling Dropshipping Products of All Time\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\"\u003e\u003ca href=\\\"/blog/how-i-made-4500-in-9-weeks-selling-phone-cases\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eHow I Made $4,558.03 in 9 Weeks Selling Phone Cases\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"excerpt\",\"Coming up for prices for your products can be confusing… if you don’t have a pricing strategy. Learn the best pricing strategies for ecommerce businesses.\",\"seo\",{\"_335\":360,\"_111\":361,\"_220\":362},\"SEO\",\"Pricing Strategy for Ecommerce – Is Your Price Right?\",\"Coming up for prices for your products can be confusing... if you don't have a pricing strategy. Learn the best pricing strategies for ecommerce businesses.\",\"authorV2\",{\"_335\":365,\"_366\":367},\"ArticleAuthor\",\"name\",\"Andrew Roach\",\"metafields\",[-5,-5,-5,-5,-5,-5,-5,-5,370,377,-5,380,382,385,388,391,-5,394,397,-5,-5],{\"_335\":371,\"_372\":373,\"_374\":375,\"_376\":-5},\"Metafield\",\"value\",\"false\",\"key\",\"noindex\",\"reference\",{\"_335\":371,\"_372\":378,\"_374\":379,\"_376\":-5},\"2020-12-18T06:48:23+01:00\",\"wpdatepublished\",{\"_335\":371,\"_372\":98,\"_374\":381,\"_376\":-5},\"canonicalpath\",{\"_335\":371,\"_372\":383,\"_374\":384,\"_376\":-5},\"2022-08-07T11:45:43+02:00\",\"updatedat\",{\"_335\":371,\"_372\":386,\"_374\":387,\"_376\":-5},\"2020-11-19T11:33:05+01:00\",\"createdat\",{\"_335\":371,\"_372\":389,\"_374\":390,\"_376\":-5},\"2020-11-19T11:52:23+01:00\",\"publishedat\",{\"_335\":371,\"_372\":392,\"_374\":393,\"_376\":-5},\"strategie-di-prezzo\",\"it_handle_link\",{\"_335\":371,\"_372\":395,\"_374\":396,\"_376\":-5},\"preispolitik\",\"de_handle_link\",{\"_335\":371,\"_372\":398,\"_374\":399,\"_376\":-5},\"precificacao-produtos\",\"pt_handle_link\",[401,406,410,415,417,421,425,429,433,435,439,443,447,451,453,457],{\"_99\":402,\"_111\":403,\"_220\":404,\"_405\":350},\"business-ideas\",\"Business ideas\",\"Ready to start a business, but unsure what to do? No problem. Check out tons of business ideas. Get inspired. Unlock everything you need. Build your empire.\",\"parentHandle\",{\"_99\":407,\"_111\":408,\"_220\":409,\"_405\":121},\"a-day-in-my-life\",\"A day in my life\",\"What's it really like to own a business? Spoiler alert: it's not always pretty. Hear real-life stories about a day in the life an entrepreneur. No BS.\",{\"_99\":411,\"_111\":412,\"_220\":413,\"_405\":414},\"mindset\",\"Mindset\",\"Optimistic but real. Relentless but compassionate. Your mindset is everything if you want to be a successful entrepreneur. Learn how to raise the bar.\",\"your-life\",{\"_99\":350,\"_111\":114,\"_220\":416},\"Wanna build a business? Check out articles, podcasts, videos, and ebooks about the skills you'll need - from business ideas to marketing to case studies.\",{\"_99\":418,\"_111\":419,\"_220\":420,\"_405\":350},\"case-studies\",\"Case studies\",\"Hear from entrepreneurs who been there, done that. Dive into case studies on podcasts, ebooks, articles, and videos.\",{\"_99\":422,\"_111\":423,\"_220\":424,\"_405\":121},\"my-first-90-days\",\"My first 90 days\",\"The first 90 days of your startup are the make-or-break. Check out real-life stories from entrepreneurs who weren't afraid to get their hands dirty.\",{\"_99\":426,\"_111\":427,\"_220\":428,\"_405\":414},\"money\",\"Money\",\"Money. It's on everyone's mind. Check out podcasts, ebooks, articles, and videos to master your personal finances, set money goals, and smash them.\",{\"_99\":430,\"_111\":431,\"_220\":432,\"_405\":350},\"design-and-branding\",\"Design and branding\",\"Don't scare customers away with an ugly website. Unlock everything you need to build a beautiful ecommerce store and a memorable brand that customers love.\",{\"_99\":121,\"_111\":122,\"_220\":434},\"A collection of articles, podcasts, videos, and ebooks with real-life stories from other entrepreneurs. Learn something. Get inspired. Start your own.\",{\"_99\":436,\"_111\":437,\"_220\":438,\"_405\":121},\"raise-the-bar\",\"Raise the bar\",\"It's one thing to be successful. But are you working to make things better for everyone else? Hear real-life stories of entrepreneurs who are raising the bar.\",{\"_99\":440,\"_111\":441,\"_220\":442,\"_405\":414},\"productivity\",\"Productivity\",\"To be a successful entrepreneur, you have to grind. Every. Single. Day. Check out podcasts, ebooks, articles, and videos on how to be more productive.\",{\"_99\":444,\"_111\":445,\"_220\":446,\"_405\":350},\"dropshipping\",\"Dropshipping\",\"Learn how to start a dropshipping business, including ideas for what to sell. Podcasts, articles, videos and ebooks that will teach you how to start.\",{\"_99\":448,\"_111\":449,\"_220\":450,\"_405\":121},\"starter-stories\",\"Starter stories\",\"It takes guts and hard work to be an entrepreneur. Listen to real-life stories about people who nailed it, and what you need to start your first business.\",{\"_99\":414,\"_111\":118,\"_220\":452},\"Mindset. Wellness. Productivity. Money. Check out articles, podcasts, videos, and ebooks about the things that make good entrepreneurs even better.\",{\"_99\":454,\"_111\":455,\"_220\":456,\"_405\":414},\"wellbeing\",\"Wellbeing\",\"Avoid burnout. Stay resilient. Take care while you grind. Learn wellness tips for entrepreneurs. Your business health is only as good as your own health.\",{\"_99\":353,\"_111\":458,\"_220\":459,\"_405\":350},\"Marketing\",\"Online marketing is a beast of its own. Check out podcasts, ebooks, articles, and videos on marketing your ecommerce business. Tame the beast. Grow your empire.\",\"($locale)~~layout\",\"actionData\",\"errors\"]\n");</script><script>window.__reactRouterContext.streamController.close();</script>