Mastering Pricing and Promotions with Chase Ballard and Micah Corrigan

Natural Products Marketer Podcast

Unlock the secrets to mastering pricing strategies in the natural products industry with insights from our expert guests, Chase Ballard and Micah Corrigan. Discover how adopting MAP pricing as a standard can revolutionize your market approach and keep your customers coming back for more. We'll explore the common pitfalls of sticking to full MSRP pricing and how this can skew consumer perceptions, making in-store shopping seem more expensive than online giants like Amazon. Learn from other industries' pricing models and gain actionable strategies to refine your pricing tactics and strengthen your market position.
Join us as we reveal the blueprint to building customer loyalty and trust through impactful loyalty programs and transparent practices. We discuss the art of turning customers into loyal "trustomers" with significant incentives and the vital role of training staff to engage effectively with customers at checkout. For retailers hesitant to move away from MSRP, we provide guidance on collaborating with partner brands to offer competitive everyday prices. Trust and transparency are key as we navigate these challenges, fostering strong relationships with partner brands for sustainable growth.
Finally, we dive into innovative promotional strategies that can transform retail success, highlighting the power of BOGO deals and other promotions in boosting sales and brand visibility. While aggressive promotions attract new customers, they also present challenges like brand-switching. We stress the importance of balancing promotions while maintaining customer trust and pricing integrity. By collaborating creatively with brands, retailers can channel enthusiasm and support to build a loyal customer base, ensuring sustainable growth in a competitive market. Don't miss this opportunity to elevate your business with proven strategies and insights.

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About Amanda Ballard

Amanda has worked in natural products marketing in the retail setting since 2016 and has a great understanding of the unique challenges and opportunities that retailers in this industry face. More than anything, she wants this industry to continue to boom and believes much of that success hinges on the ability of retailers to do well in their businesses and market their products effectively.

About Tina Smith

Since 2014, Tina has worked with multiple natural products businesses, discovering how to market their CBD products online, without having their payment processor shut them down, to letting customers talk about their health issues those products have helped them solve. She knows first hand how experts like you offer the best products and a superior customer experience, that is why she is committed to helping you find an easy way to grow your natural product business.

Capíttulos

1. Pricing Strategies in Natural Products Industry (00:00:00)

2. Building Trust and Pricing Strategies (00:13:57)

3. Innovative Promotion and Marketing Strategies (00:22:40)

4. High-Impact Retail Promotions and Strategies (00:26:42)

5. Promotional Strategies in Natural Products (00:32:45)

6. Marketing Tips for Natural Products (00:46:44)