"Price" most important in buyer's decision?

[olimits7]

Hi,

I started a post relating to this topic before, and I received some very good replies that "price" isn't the most important factor in a buyer's decision and things like good customer service, good product descriptions, good website reviews, inventory, etc...plays a big part and buyer's paying more for a product.

[webmasterworld.com...]

However, I've been doing some analysis on my site and what I found out is a good majority of my orders are only due to me having the "lowest price".

There are few orders I receive when my "price" is not the lowest. My price would be around 4-8 sites above the site with the lowest price.

I'm glad I'm able to offer the lowest price on certain products which turns into sales conversions. However, I also want to increase my sales conversions when I'm not the lowest price too.

My website's layout is clean, easy to navigate, I've built up a decent amount of website reviews, offer multiple payment options, good product descriptions, etc...

I don't know what I'm missing; what else I can do to trigger more sales conversions when I'm not the lowest price? Offer coupons? Free shipping? Etc...?

Thank you,

olimits7

[netmeg]

And everyone doesn't even bother doing price comparisons, some just go for the first one they find.

I've got clients going head to head with Amazon and Office Max and Staples - and *killing* it - because they don't emphasize the products, they emphasize the service, the knowledge (which products are best for which use) the special pricing, the customization - whatever. In one case, we started bundling products together into a logical "kits" and discounting the package - that worked so amazingly well for the first couple that we made a bunch more. Not only did the client sell more product, but the customers were happy because in some cases they weren't entirely sure what they needed. We put it all together in one bundle for them.

If the only things you have going for you are the same products a bunch of people sell, and/or a lower price, you are very quickly gonna be backed into a corner by your own competition. As soon as they all undercut you by a dollar, you're screwed. But if you add (and emphasize) unique value, then it's a lot harder for the competition to keep up. Oh, they might. But they'll have to work for it.

You have to figure out how to project VALUE and not PRICE. That's your winning strategy.

[caran1]

Price is a factor, but past experience also matters. If I had an unpleasant experience with a particular seller, I would think twice before purchasing an item again from him, even if the price is lower.

[mrmobility]

How are you getting people on to your site? We found when we started out that all our traffic was for specific product names and we almost only sold on price. Now that we are attracting traffic for broader search terms we are getting less price sensitive customer.

[weeks]

How are you getting people on to your site? We found when we started out that all our traffic was for specific product names and we almost only sold on price. Now that we are attracting traffic for broader search terms we are getting less price sensitive customer.

Great suggestion.

Also, consider buying ads on other websites that target the types of buyers you are seeking? But, test before making a big buy and always track your results if you are going to do this. After six or 12 months, you'll be an expert (even if being an expert means not doing it).

[Planet13]

Well, that explains one thing...

Most, but not all, of my products rank well in the search engines for their brand names. Which means I will probably get killed by the discounters. Arrggghhhh...

[aspdaddy]

What you are talking about is two things, one is perceived order winning criteria and the other I cant remember the name, but its the factor may lose the order

You need to profile by product/buyer profile as different buyers care about different things for different types of products.

Of the list above
- faster shipment
- better service
- guarantees

Would all be true for myself for certain purchases.

I would also add these are very high:
- Ability to phone the company/order
- Visible 4&5 star Customer feedbacks