Increasing competition in the e-commerce industry is constantly demanding newer strategies to increase conversion rates. The AI negotiation tool is an effective solution to lower the number of abandoned customers and increase your online conversions.
However, there are a few things that you need to consider to use the AI negotiation tool effectively and get the most out of it. Here in this blog, we will discuss some helpful tips to increase your conversions using CrazyConvert AI Negotiation Tool.
These tips will help you create better strategies that you can utilize to boost your sales at the most effective pricing.
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Conduct Market Research
The very first thing you can do is a thorough market research. Detailed market research helps you understand the needs of your customers and the suitable price range for the products you sell. You can conduct competitor research to find the right pricing range your potential customers are happy with.
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Consider the Past Negotiations
The past chat negotiations with your customers can also help you get helpful insights. CrazyConvert AI negotiation tool provides you with the negotiation chat history feature which you can use to analyze previous chats and create better pricing models.
Look for the best prices that customers are most likely to close deals at. With these prices for different products, you can come up with a better negotiation strategy.
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Test Different Pricing
The same pricing model will not always work for you. It will become ineffective sooner or later. So the key to a successful negotiation strategy is to keep changing the pricing models and testing them. You can test these models and utilize the most effective ones. Keep testing different pricing models for different products.
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Analyze & Optimize
CrazyConvert has an advanced analysis dashboard that provides you with helpful information and insights for different campaigns that you can analyze and make helpful decisions. By analyzing past customer purchases, you can set a better price range and optimize your negotiation.
Summing Up
While the AI negotiation tool is a lifesaver, there are a few strategies that can help you get the most out of it. Start with market research and understand the current market trends and customer preferences. Next, you can study past negotiations to get a concrete pricing strategy for different products. Later on, you can test different pricing models and lastly, keep analyzing the performance of different models and optimize accordingly.