What are the different demand drivers ?
Website optimization
Product
Customer Care
Price
Wide variety of payment methods enables the customer with safe and secured transactions
The website should be easily accessible
Lowering the price helps in increase of sales. But we need to achieve the optimal point of the pricing.
Competitive pricing would attract a larger consumer base
Increasing the variety of products would enable the consumers to buy more products, thus increasing revenue
Better quality of products play key role in increasing the sales
Having a user-friendly online platform will help in boosting the revenue by a huge margin
Customer satisfaction plays a key role in improving sales
Having a good customer care team is essential in increasing the customer experience
Comprehensive knowledge of consumer base
Advertising
A good advertising team would be pivotal in the success of a company
Advertisements should be relatable
Introduce more offers that are consumer engaging
Perks/Incentives
Customers should be given loyalty points, thereby giving an incentive to shop again
Have clear Calls-To-Action. Making every step as clear as possible boosts the success rate of the Ad
Having a compelling message is essential as it gives the consumer an incentive to open the page. Using images also help in the success of an Ad Campaign
Analyzing the reasons for the sales of products
Availability on social media is necessary. It creates a personal connection with its consumers
Medium Demand product - Quality-Price factor can be improved
Low Demand Product : Quality-Price factor isn't analyzed or the consumers aren't interested in the product
High Demand product - Quality-Price is optimal for this product and act as the Cash Cows for the retailers
Company certified products should be introduced that will give customers quality assurance and fast delivery guarantee
Knowing which product needs to be targeted at to which age group of consumers
e
Include PPC Ads
The company selling their products would pay to have their product advertised on the first page of the search
Quicker the product delivered , happier is the customer, thus willing to buy more from the company
An Offer-wall should be introduced where all the latest deals and offers should be updated