Initial Situation
Despite receiving significant daily traffic from developing countries, our sales figures were disappointing.
Our analysis showed that some of these countries ranked among the top 10 in terms of traffic, highlighting a clear disconnect between interest and actual purchases.
Goals & Objectives
Our primary goal was to increase sales from developing countries. We aimed to:
- Convert traffic into meaningful sales.
- Understand the purchasing behavior of customers in these regions.
Strategy & Approach
To address the sales challenge, we devised a two-pronged strategy:
1. Pricing Adjustments: We decreased the price of our product specifically for all developing countries, making it more accessible to potential customers.
2. Trial Offer: We introduced a 3-day free trial, allowing users to experience our product without financial commitment.
Challenges
One of the significant hurdles we encountered was the implementation of different payment links on the same landing page.
We needed a solution that would allow us to retain a unified purchase button while directing customers to the appropriate payment processor based on their location.
Solution
After extensive research, we discovered a tool (if so) that facilitated the integration of multiple payment links into our existing infrastructure.
We have opted for a Free Trial, The support from this tool's customer service team was exceptional, guiding us through the implementation process and troubleshooting any issues that arose.
Results
Despite our strategic adjustments and technical implementations, we observed no improvement in sales.
The conversion rate remained stagnant, leading us to reconsider our approach and underlying assumptions about the market.
Learnings
This experiment yielded several key insights:
1. Understanding Local Markets: Merely reducing prices or offering free trials does not guarantee sales. It’s crucial to understand the local market dynamics, purchasing power, and cultural factors that influence buying behavior.
2. Value Perception: The perception of value varies significantly across regions. A lower price may not resonate if potential customers do not see the product as valuable or relevant to their needs.
17 Oct 2023
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