ODN

In late 2015, ODN started its digital transformation journey for brands with extensive top management experience in online marketing, e-commerce, and retail. ODN provides solutions that range from photo-shoots to listing to marketing graphics to managing social media – everything that can be seen on opening an e-commerce website or social handles. The ‘all-in-one’ content creation expertise provided by the company is currently used by hundreds of marketplaces and brands worldwide to build millions of pro-quality articles content. ODN has helped companies build tech tools to disseminate product information accurately and effectively across their offices in various countries and marketplaces thereof. Additionally, ODN uses automation and work-flow tech solutions to provide transparency and speed for content deliveries.
ODN helps its customers by focusing on speed, a pro-active customer-centric approach, and removing all the technical hassles involved in content delivery.

Shutter Cast

Shutter Cast started around four years ago as a side project when Amol could not find any reliable website developers for his work. Since then, the team has been working tirelessly to bring the latest technology to startups and offering a gamut of services for their operations. Shutter Cast started with website development but has expanded into a one-stop solution for all startups in the industry. They want to be recognized as the best and most transparent digital marketing agency in the industry. The startup boasts a prestigious clientele in the market, which are the oldest ones and have helped SC scale since its inception- Nish Hair, Gifting Best Wishes, Fkitchens, Infini AI, etc. Shutter Cast employs 20+ people and generates revenues of USD 150K. All the technology used by Shutter Cast has been developed internally. The firm has the edge over others because of its transparency in operations, right from planning to execution to every transaction. For instance, competitors often ask businesses to pay as much as 80K to open an Amazon Web Services account when such an account can be acquired for free.

BC Web Wise

It is a full-service digital marketing platform that solves business problems for brands since 2000, headquartered in Mumbai. The company is renowned for its strategic brand services, world-class creative work, and in-depth consumer research. They devise strategies to bring brands closer to consumers on digital, tell stories that captivate the millennial mindset, and acquire the sharpest combination of digital media assets to meet campaign objectives.
The company has worked with more than 400 happy clients like Hero, Mahindra, Sunsilk, Unicef, Park Avenue, Parle, Sony Entertainment, TATA, Godrej, Maruti Suzuki, etc. and worked on around 7500 projects to date.

ET Medialabs

It is a leading Digital Marketing & Analytics Company in India specializing in delivering business growth using Digital Marketing, Data & AI. It is both a Google premier partner & FB Marketing, partner. The leadership at ET Medialabs consists of seasoned professionals from the IITs and IIMs with ten plus years of experience. They have a unique set of skills knit together by a client-focused approach and sharpened by years of experience in the industry. Over the years, ET Medialabs has worked with popular internet brands, including CRED, Grofers, Licious, The Urban Company, Forest Essentials, Good Earth, and Lenskart, to ensure a more extensive reach through digital advertising.

Digital Jalebi

Founded in 2012, Digital Jalebi is an experiential design studio delivering interactive experiences. It helps its clients establish channels of communication with their audience on a more emotional level. Digital Jalebi aims to transform spaces into more communicable and enjoyable opportunities with a focus on interactive spatial installations. Digital Jalebi is a fusion of new media design and technology and draws heavily from digital art, visual communication, architecture, and programming. The company has worked with some of the renowned clientele: International Cricket Council, Google, DS Group, TATA Trusts, HAL, TATA Motors, Toyota, MI, Dr. Reddy’s, Glenmorangie, Pepsi, Bill Melinda Gates Foundation, National Geographic, DRDO, Asian Paints, Bosch, etc.

Price too low and you risk losing money or at least having cash flow problems due to a low margin. And you also have people that think your product is not quality made since it seems like the price reflects that.

You’ll need a strategy to get the right price to be able to have a successful E-commerce Store store.

In this article, I will go over several of the criteria you need to be thinking about to price your products in the best way.

Determine costs and profit margin

There are two types of costs that have to be factored into the price of the product. There are set costs and variable costs. The set costs are easy to factor into the price as they are the same every month. Where it gets tricky is when the costs change on a monthly basis and you don’t want to have your prices fluctuate too much.

One thing that can kill conversions is if a person comes to your site and sees the prices have gone up. Even if it is only a temporary rise that will go down as the variable costs lower, it can keep the person from coming back.

When you do a User Experience Audit for E-commerce Store , you find out that people like consistency and this affects your conversions.

The way to go on this is to price to the max of the variable costs and then factor in the profit margin. If the costs go down then you can increase your margin.

Your profit margin should also include your pay as well. So try to think of how much per hour you would want to make if you were working for a wage and then factor that into the profit.

Research the competition

Unfortunately, there may be some competitors out there selling the same product and charging much less than you are. In which case you have a few things to consider.

If your profit margin can handle a bit of a cut then you can lower your price down to near or at the competition. This will keep you competitive and you still make a profit. However, if your margins are thin then this is going to be difficult.

Do you lower your price to stay competitive and settle for a lower profit margin? This is likely not your best option. In this case you may have to find ways to outcompete them even with a higher price point. This can mean adding value to your products or selling bundles so you can add on a lower priced product with a higher profit margin together.

You need ‘The Triple S’ ad strategy to positively connect brands with potential consumers via mobile ads! The Triple S – Sensitive, Sensible and Smart strategy.

Checkout how did Widespace and Penguin Random House International UK embraced The Triple S strategy to create awareness and purchase intent of a new book. With ad recall 4x higher than the digital display market average, the book sales figures had surpassed the set target. The campaign was also shortlisted as ’Most Effective Brand Campaign’ at the Effective Mobile Marketing Awards 2015.

Challenge

Penguin Random House sought to create awareness and purchase intent of the new book by EL James, “Grey”, among the millions of original Fifty Shades fans. By bringing attention to the book via mobile, the ultimate goal was to drive sales both online and in physical stores.

Solution

Penguin Random House used Widespace’s mobile TakeOver format to create an impactful ad with a positive user experience, with an animation function to maximise attention. To ensure the most relevant audience was reached, the ad was integrated natively into premium lifestyle and entertainment sites such as Cosmopolitan, Digital Spy and Grazia, and Widespace’s Brand Algorithm was used to find the most interested users within these environments. iPhones were specifically targeted as the ad linked directly through to the iTunes store page with the option to purchase the book immediately.

Results

The Brand Impact Study showed that half of the exposed users recalled the Widespace ad and 80% of those users found the ad very interesting. The author awareness uplift was 46% and an astonishing 43% of exposed users would purchase a book by E L James, a 153% uplift versus the control panel. The physical and online sales figures surpassed client targets. As a consequence of these results, this campaign was shortlisted as ’Most Effective Brand Campaign’ at the Effective Mobile Marketing Awards 2015.

Senior Marketing Manager, Sarah Ridley at Penguin Random House had to say:
“Our main aim with the mobile campaign for Grey was brand awareness and making sure the millions of original Fifty Shades fans out there knew the new book was out and available to download. Mobile was the perfect way to reach out to this audience in a relevant environment and Widespace’s premium format allowed us to engage with potential fans in an engaging way on appropriate partner sites. The campaign performed well and we were impressed with the brand awareness uplift amongst users who were delivered the ad.”

Three strong results:

Book sales figures surpassed targets
Ad recall 4 times higher than the digital display market average
153% uplift in purchase intent

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