Make Sure you Avoid This Big Cyber Monday Marketing Mistake!

Cyber Monday is the biggest online shopping day of the year. For any online business, this is a huge opportunity to boost your sales before the end of the year and clear out that old stock. However, it’s also important for marketers and business owners to remember that a sale for its own sake isn’t much good.

Make Sure Your Price Reductions are Strategic!

Sales are great, and they’re a great tool to provide incentive and a sense of urgency to your customers. It’s important to remember, though, that this only works if you don’t undersell your products. Slashing prices by 70% could be a great idea for some products, especially if they’re outdated and just taking up space in your inventory, but in other cases it can be extremely unprofitable if you’re not careful.

For example: If you’re selling some high quality lamps at 50% off, your customers will be grateful, but won’t be likely to remember your business 5 or 10 years down the line when they go lamp-shopping again.

If, on the other hand, you sell coffee, then you could be securing a regularly recurring customer for years to come.

In the first case you have to make sure that you’re still making a profit on the initial purchase, but in the second case it doesn’t matter much, because you’ll recover the loss through future purchases by that same customer.

 

Marcin Ladowski

Marcin Ladowski is an entrepreneur, a creative thinker and a serial technologist. He is the President and CEO of NetroStar, a global digital agency he founded in Miami. Through NetroStar he helps businesses around the world grow their brands and prosper on the Internet. His expertise includes website design, custom application development, system architecture design, e-commerce, online marketing and social media.

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About Marcin

 

Marcin Ladowski is President and CEO of NetroStar, a global web design company operating out of Miami. He has years of hands-on experience helping businesses around the world grow and prosper on the Internet. His expertise includes website design, IT solutions, e-commerce, online marketing and social media.

Marcin has been involved in the creation of multiple successful startups, including Webponder, a community of experts available for online consultation.

Marcin Ladowski's primary business venture - NetroStar - started as a local web design agency in Miami but quickly grew into the national and international markets as well as into related services. It currently provides comprehensive web development and online marketing services that are renowned for high standards of execution and customer service.

Marcin Ladowski holds Bachelors Degree and Masters Degree in Management Information Systems from Florida International University. He speaks English, Spanish and Polish.

He is passionate about martial arts and long distance running.