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How to Avoid Working with Bad Vendors

Your relationship with your vendors is critical to the success of your business. However, it can be tempting to just take the first big vendor you find and trust them based on their size. Surely, if they’ve gotten so big, they must be trustworthy and reliable right? However, it’s important to take careful steps to ensure that you are working with the best vendors for your needs. Here are some tips to get the best experience possible with your vendors.

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Master the Art of Sales Psychology to Close More Deals

Whether you’re an established business, or a brand new startup looking to build your clientele, psychology can help you close more deals. Sales psychology is a powerful tool that you can use to land more sales and get noticed by customers and clients. Keep in mind that everyone is different, and anyone that tells you that you can sell anything with just a few psychological tricks is false, demeaning to customers, and probably a sales pitch in and of itself.

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Take Control of Your Vendor Negotiations

If you have not yet mastered the art of skillful vendor negotiations, you are surely missing out on gaining top notch deals and impressive profit margins. There are no set rules that apply to every negotiation discussion, but there are some important points to consider for more effective meetings with vendors.

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Dynamic Pricing … The Future of eCommerce

Dynamic pricing is becoming a common practice among eCommerce websites across the world. It is all about taking advantage of the demand for a product or service so the overall profits of a business will increase. Dynamic pricing is not a new concept in the business world, but it is becoming more important with the growth of eCommerce in the last few years. If you have yet to implement this pricing method into your strategy then it is something you should start to consider.

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Top 3 Payment Processors: The Pros and Cons

About 50 percent of all online consumers will walk away from a purchase if their favorite payment method isn’t accepted. The checkout process needs to be user-friendly, if not it will take a toll on your conversion rates. Online retailers tend to channel their efforts into boosting traffic in an effort to increase sales. However, it is far more effective to direct some of that energy toward maximizing the number of payment choices you offer finicky online shoppers. This will, in turn, optimize your conversion rate and reduce the frequency of shopping cart abandonment. It is much easier to double the number of sales you generate from existing customers, rather than attempting to gain the same amount from first-time visitors to your website.

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