For companies, it is increasingly essential to support their strategies with artificial intelligence (AI) and "machine learning" tools, since these systems have the ability to suggest the best combinations of offers to ensure sales success.
For sales software used by companies, artificial intelligence (AI) and machine learning have become essential, because only in this way is it possible to successfully analyze the large volumes of information generated from information systems that record customer data.
Charging tariffs consistent with the positioning of the brand and communicating its differentials with respect to the competition, is essential to stop competing for price and redirect the strategy according to the value of the product.
Ariel Baños, specialist in price management and founder of Fijaciondeprecios.com, explains three strategies to avoid competing only for the price factor, because in these struggles there are no winners and only attract the least loyal customers.
Knowing the exact location of customers and their characteristics, and in parallel analyzing the potential geographic location of each sales point, is essential for companies to take full advantage of their business strategies.
Geomarketing is a tool whose relevance has been increasing in the decision making of companies, because to define and implement strategic plans, it is necessary to have access to accurate information of the areas of influence of investments.
Fostering innovation when selling or buying real estate is a need that real estate brokers in general have identified among their clients, which they seek to satisfy through digital sales platforms.
According to the vendors' experience, the advantage of digital platforms is that they have the ability to store large volumes of information in an orderly and detailed way, which can also be consulted by potential customers immediately.
Convincing the sales team that the increase in the price of the product is necessary, and that they are able to convey the message to customers correctly, is essential when it comes to increasing prices when production costs rise.
Ariel Banos, specialist in price management and founder of Fijaciondeprecios.com, explains five strategies to increase product prices successfully, maintaining profitability and ensuring the viability of the company in the face of rising costs.
To have clear the purpose of the organization and to improve the "human" experience of the relationship client - brand, are the two trends that the experts visualize in the strategies of the companies in the next years.
According to the "2020 Global Marketing Trends Report", prepared by Deloitte, there are five other trends that derive from human purpose and experience: fusion, trust, participation, talent and agility.
In a context where consumers demand that products be manufactured in an environmentally and socially responsible manner, purpose-built brands will be the most likely to increase sales.
The tendency to consume products that belong to a brand with purpose is becoming increasingly important in markets, as consumers look to companies to manufacture goods in a responsible and sustainable way.
Changes in consumer preferences, which increasingly value ease, convenience and time savings in their purchases, are forcing companies to strengthen their online marketing channels to stay in competition.
Several companies that have not developed their digital marketing channels in time have gone bankrupt because of the growing competition represented by online sales.
On average, consumers who belong to 30% of the group of people with the highest consumption capacity in the Metropolitan Area of San Salvador travel through the streets of Antiguo Cuscatlán, and 4 out of 10 are between 21 and 30 years old.
An analysis of the floating population in El Salvador, elaborated by the Trade Intelligence Unit of CentralAmericaData, gives interesting results on the characteristics of the people who every day move from place to place on the streets of the Metropolitan Area of the capital of San Salvador.
In the retail business, large distributors boost the sales of their own brand products through strategies aimed at consumers who prioritize the price factor over other elements when buying.
Globally, the tendency to buy private label products is becoming more and more evident in markets, as companies engaged in the retail trade of other products, such as supermarket chains, are capitalizing on their experience by placing their own products and competing with their suppliers.
Discount promotions expressed in percentage terms rather than absolute values are typically those that consumers prefer when analyzing available purchase options.
Ariel Baños, a price management specialist and founder of Fijaciondeprecios.com, explains how consumers value discounts more, depending on how they are expressed in promotions at sales points and in advertising spaces.
The preference for electronic financial transactions increases everyday, but the trend is to migrate to contactless payments, which will allow consumers to make their purchases 10 times faster than the traditional way.
Specialists in the subject explain that unlike the payment methods that until now are the most used in the region, contactless payments simply consist of holding a card in a payment reader to proceed with the transaction.
The right choice of the marketing system and the partners who will sell the product is key to compete profitably with other options with lower prices.
Ariel Baños, price management specialist and founder of Fijaciondeprecicios.com, explains how through proper marketing, it is possible to compete against the prices of companies manufacturing their products on a large scale and at lower cost, such as those made in China.
The carrot strategy is to implement the right incentives for everyone to be committed to the same goal: the culture of profitability.
Ariel Baños, price management specialist and founder of Fijciondeprecios.com, explains how through the "carrot strategy", companies can move from the "culture of volume" to the "culture of profitability."
Properly establishing the criteria for the application of discounts or special conditions helps to wisely manage price reductions without compromising the company's profitability.
Price management specialist and Fijciondeprecios.com founder, Ariel Baños, explains how through the "strainer strategy" discounts to customers can be managed intelligently.
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