Many inexperienced startup founders expect sales to come flooding in as soon as they launch their product and marketing campaign. In reality, that rarely happens even if you have an outstanding product that is fairly priced. I have seen many startups flounder at this point as the team gets discouraged by the lack of sales and traction thinking that the product is a failure. The trick is to be patient and take a very hands-on approach initially. In this article, I will provide a strategic outline for the earliest stages of your sales initiatives.
Imagine if you could decide how much you pay for everything you buy. Those shoppers that are willing to pay more for an item–either because they have the means or because they really want it–would pay more, whereas those that are not as keen to pay a lot could offer a lower price for the item. The retailer could then intelligently decide which prices they should accept to give them the greatest profit. By getting rid of one-size-fits-all prices, shoppers would win by being able to buy items at prices that make sense to them, and retailers would likewise gain by increasing the revenue that they earn from each shopper. This is the future that WishYourPrice is building.