ReportWire

Tag: sales

  • 3 Smart Ways to Differentiate Your Ecommerce Business

    3 Smart Ways to Differentiate Your Ecommerce Business

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    Opinions expressed by Entrepreneur contributors are their own.

    The ecommerce industry has been running on autopilot in recent years, regulated by a set of “best practices” that are supposed to help businesses increase their brand visibility and boost sales. However, these practices are what’s stopping businesses from reaching these goals. While these practices might create a frictionless commerce experience through an ecommerce website, they also produce an unoriginal and boring path to purchase for shoppers. Shopper expectations have evolved; therefore, it’s time for ecommerce businesses to do the same.

    What do shoppers want?

    Shoppers want something different and new. Sixty-four percent say it’s rare to see a website that feels unique or has unexpected functionality. This means that businesses need to develop a different brand and purchasing experience that helps them stand out from millions of other ecommerce businesses.

    So, how can businesses set themselves apart and gain the attention of shoppers? A good starting point for businesses should be to break up with two prevalent best practices to elevate the shopping experience and distinguish themselves from the competition.

    Related: Want To Grow Your Ecommerce Brand? Take Advice From This Industry Expert.

    Practice #1: Frictionless commerce = the best commerce

    The ecommerce industry has long held the practice of creating frictionless customer shopping experiences. Features like streamlined search, website navigation and checkout quickly guide shoppers from the landing page to the checkout screen. However, creating a frictionless experience only benefits infrequent or one-time shoppers. Frictionless commerce might bring in new customers, but it doesn’t create brand loyalty.

    Loyal customers form a core group that can drive up to 23% of annual sales for businesses, meaning that a key focus should be to build this core group. Sixty-two percent of shoppers say they expect personalization, suggesting that they aren’t likely to return to a business if there is no uniqueness to the purchasing experience.

    Businesses that want to break away from this practice should focus on creating a new and exciting experience over preserving the frictionless commerce model.

    Practice #2: The best way to reach shoppers is through a website

    Another long-held practice that the industry has held onto is that the best way to get shoppers and convert sales is through a website. However, more and more shoppers are purchasing through their mobile devices. By 2025, it’s projected that around 44% of retail sales in the US will occur on a mobile device.

    Many ecommerce websites are not optimized for mobile, meaning that a desktop-optimized website won’t be enough to compete with other businesses. Therefore, ecommerce businesses should be prepared to find alternative routes to reach shoppers.

    Related: How To Succeed in A Competitive Ecommerce Industry

    3 tips for breaking up with industry practices

    There are three key tips to keep in mind when breaking up with the industry’s best practices. These tips can help an ecommerce business re-evaluate its current strategies and prepare for the start of 2023.

    1. Create a strong visual brand identity: Businesses can create a strong visual brand identity through a highly visual experience, and by incorporating a multi-media approach to brand assets, brands can stand out from the crowd with a compelling brand feel and identity. These aspects, such as images, video, audio and interactive elements, should be highlighted throughout a website to make the brand stand out against the competition.

    2. Change your path to purchase: Businesses should be prepared to change their path to purchase for customers. In addition to running micro-enhancement tests on product images, button colors, element placement, etc., consider running macro-tests that explore unique layouts. For example, trying out new layouts and hierarchy structures can help an ecommerce website feel distinctive and new.

    3. Develop a VIP experience: By developing a VIP experience, shoppers will feel like they are receiving an exclusive experience tailored just to them. Providing VIP experiences has the added benefit of building brand loyalty because shoppers know they won’t be able to find the experience elsewhere. Some ways to develop this VIP experience include members-only exclusive content, special sales and perks. Businesses can also run loyalty and referral programs and inject novelty into their marketing and outreach efforts. Another way to develop a VIP experience is through a mobile app. Implementing features like advanced wish lists, product recommendations and customized push notifications within a mobile app can help establish brand loyalty and create an experience that shoppers can’t get elsewhere.

    Related: 5 Ways to Provide a Positive Customer Experience in Ecommerce

    It’s time for businesses to break up with the ecommerce industry’s best practices. Businesses that are willing to change their current approaches will increase brand visibility and boost sales. It may be easier to follow industry best practices, but it creates a predictable experience that may leave your brand lost in the crowd. Shoppers want a personalized and entertaining experience, and the businesses that provide that have a greater chance of success.

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    Eric Netsch

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  • How to Use Virtual Tours To Elevate Real Estate Sales

    How to Use Virtual Tours To Elevate Real Estate Sales

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    Opinions expressed by Entrepreneur contributors are their own.

    We’re in the last month of 2022, and not only are we entering a new year, but we’re entering a recession that’s hurting real estate sales across the country. As many other authors and I discussed in previous articles, virtual tours help real estate agents sell more properties, but that’s not up for debate.

    But we’ve found a neat little hack you can do with your real estate content to get free exposure and more eyeballs on your listings to get more sales. It’s all through a process called “geotagging.”

    Never heard of this term before? Don’t worry; let’s learn about how to implement it into your content.

    What is geotagging?

    Geotagging is a technical search engine optimization term used to help rank local content higher on search engines through the exact coordinates of a real estate listing and the type of real estate property. Many business owners implement this strategy to get them to rank higher on local searches; let’s walk through an example.

    John Smith owns a bakery in Philadelphia, and while he has a great virtual tour, video and photos, he’s looking for that extra edge against his competition. He finds the process of geotagging, goes to a free site such as geoimgr.com, finds the coordinates (longitude and latitude) of Philadelphia, adds it to Geo Imgr and then adds in his niche keyphrase for what people search for his type of business, such as “bakeries near me” or “bakeries in Philadelphia.”

    So you’re essentially telling Google what you do “niche” in your area’s coordinates, so Google positions you as such because you’ve organized your content and tagged it as such; it’s a brilliant way to get higher rankings on local searches. In 2023, you’ll need to think outside the box — this is a great example of doing just that.

    Related: How Real Estate Investors Can Prepare for 2023 in 4 Easy Steps

    How does this apply to real estate listings?

    What do brick-and-mortar businesses and real estate listings have in common? They’re both pieces of real estate, so this process works just as well with real estate listings, just like how it does with small businesses such as John Smith’s bakery.

    No one is doing this as a real estate agent. They’re only focused on having great content, although essential to get to the next level; they also need to geotag all of their photos and videos! This is what hotshot realtors do to increase exposure on their listings.

    So how do I optimize my content as a real estate agent?

    It’s easier than you think, so don’t overthink it! Here’s a quick step-by-step guide on how to geotag your real estate content.

    1. Go to Geoimgr.com
    2. Take your current listing content (photos, videos, renderings, 360 tours) and plug them into the groomer.
    3. Google your location coordinates, ex: Philadelphia’s coordinates are (39.9526° N and 75.1652° W).
    4. Enter the coordinates into Geoimgr.
    5. Enter your type of real estate into Geoimgr “single-family home in Rittenhouse (insert your neighborhood)” or “multifamily home south Philadelphia.”
    6. Hit the “EXIF Tag” button, and you’ve optimized your real estate listing content!

    Related: How Virtual Reality is Impacting Real Estate?

    Where do I post my optimized content once I have it?

    Like you would normally do, you’ll post to the multiple listing service, which posts to all the big-name listings such as Zillow, Realtor, Loopnet, Redfin, etc. Since most people search on Google anyway, Google will still give you the benefits of geotagging. The best part about using geoimgr is that you can upgrade your account to get more content optimized for more listings as you become more successful as time goes on.

    Don’t have the time? Fortunately, this process takes less than 10-15 minutes to complete. Learn how to do this process first, then give it to one of your teammates or interns to geotag your content for the foreseeable future.

    Virtual tours are the best marketing tool for your listing, but geotagging is the secret sauce that allows your listings to sell faster and for more money.

    Use this strategy to kickstart your 2023 and find success in your real estate endeavors.

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    Sean Boyle

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  • Boost Your Customers’ Experience With This Operating Model

    Boost Your Customers’ Experience With This Operating Model

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    Opinions expressed by Entrepreneur contributors are their own.

    Customer experience has become one of the top priorities for organizations, especially as an increasing amount of business moves online. The consumers of today shop with one foot in-store and one foot online, but they expect the same experience across both. It’s a tall order but not an impossible one. However, creating a seamless, frictionless journey for your customers won’t be possible if your organization doesn’t have seamless, frictionless teams.

    Adopting an internal Revenue Operations model (RevOps) helps unite your customer-facing teams, so they can focus on providing a singular, cohesive experience to consumers, no matter where or how they buy. The tenants of RevOps are simple: Unite all these teams under the shared goal of revenue through a combination of tools and processes that enable them to work together more effectively. These tools then bleed into improving aspects of the buyer experience.

    Related: Customer Experience Will Determine the Success of Your Company

    1. Shared data improves personalization and consistency

    Employees need to work from the same data to reduce miscommunication and confusion. In a traditional business model, customer data is siloed across different departments. This means that no one can access a complete picture of a customer’s journey and only works with pieces. From a customer’s perspective, this can lead to repetitive or irrelevant interactions that don’t match up with what’s already happened in their buying journey, causing frustration.

    RevOps addresses this issue by condensing all customer information into a shared, accessible source that updates in real-time. A team member can look up a customer and see every interaction they’ve had with the company, whether it’s email messaging from marketing, a demo call with sales or an onboarding question with customer success. It’s all there in one place. Not only does this united data reduce repetitive or nontargeted interactions, but it also provides insight into actions moving forward. It ensures the customer receives an experience that makes them feel more seen and heard.

    2. Improved internal communications remove friction within the customer journey

    Customers being labeled as leads too early or opportunities allowed to go cold are frequent complaints in the discourse between marketing and sales. While there is no way to accurately predict which customers will purchase and which won’t, a lot of the infighting results from different perspectives and approaches to the customer. How marketing qualifies a lead could be different than how sales defines them and vice versa.

    With a RevOps model, teams have increased communication and work under clearly-defined processes. Implementing a RevOps model requires sales and marketing teams to sit down together, share unique perspectives and expertise and map the entire customer journey to agreed-upon terms. The result is that both groups are armed with the same metrics to qualify customers in different parts of the buyer journey, clear next steps on how to proceed and tools that prevent prospects from going cold.

    Related: Aggregate Data to Grasp the Whole Customer Journey

    3. Tools support collaboration and communication across the customer journey

    United teams require connected tools to keep everyone in sync, which is where the tech stack comes in. One of the tenants of a RevOps model is to create a centralized source of data, also known as “a single source of truth.” This is the heart of the RevOps tech stack. By layering tools like data enrichment and business intelligence on top, businesses can maximize the value of their data to create deeper customer profiles, discover new revenue opportunities and derive further actionable insights.

    Customer-facing teams must also evaluate their tech stacks with a RevOps lens, ensuring that all existing solutions support the tenants of connection, communication and collaboration. Integrations are a must; all tools must be able to connect with and pull data from the centralized data source. This requires implementing a common data model so all data can be read and utilized by all other solutions. Marketing and sales automation solutions that run on this shared data equip teams to structure their communications around the revamped customer journey, ensuring consistent communications with customers while enabling businesses to scale.

    Related: Customer Experience: Making it a Priority for Revenue Growth

    While what your customers see and hear during their buying journey is incredibly important, so are the operations behind the curtain that support that experience. If your teams can’t work together as customers move through the sales pipeline, your customer will notice apparent bumps in the road. In addition to investing in the front-end operations and tools of your experience, you must also make the necessary internal investments. Switching to a revenue operations model ensures your teams work as a united front and empowers them with the leadership, processes and tools to do so.

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    Margaret Wise

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  • Here’s What Really Builds Customer Loyalty in the B2B Industry

    Here’s What Really Builds Customer Loyalty in the B2B Industry

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    Opinions expressed by Entrepreneur contributors are their own.

    During the past couple of years, we’ve all had a front-row seat at the B2B digital transformation, and it has become clear that great B2B ecommerce buying experiences don’t just happen. They require a strategic investment of time and money — and an understanding of the psychological drivers that create experience loyalty in business buyers.

    While experience loyalty has been around the B2C world for decades, the B2B industry is now catching on that delighting customers doesn’t build loyalty. Instead, reducing buyer effort, or the work a buyer must do to get their problems solved, does. For today’s B2B customers, the “problem” that needs to be solved starts with the first purchase: Is it easy to start doing business with your company?

    Related: The Convergence of B2B and B2C: How to Create Epic Experiences in an Experience-driven Economy

    Over half of B2B buyers have switched all suppliers in one year

    Most B2B companies earn a large share of their revenue from ongoing sales to existing customers, making customer retention an important B2B business priority. As human encounters are replaced with digital ones, sellers are challenged to find new ways to keep clients sticky when the competition is just a click away.

    In 2021, 55% of US-based respondents in a global survey said they had switched suppliers for all business purchases in the 12 months preceding the survey. Another 41% said they had switched some suppliers for some business purchases. With nine of 10 respondents switching vendors, one can only conclude that great B2B buying experiences are not happening and likely falling further behind as the digital age progresses. Only a year earlier, in 2020, the comparable percentages were 20% for all purchases and 43% for some purchases.

    Although 2022 numbers aren’t out yet, it’s safe to assume that B2B buyers continue to have rising expectations based on their B2C ecommerce habits. That’s why B2B leaders need to understand that today’s key differentiator is their company’s ability to deliver the best possible B2B customer experience.

    Customer effort matters much more than delight

    Gartner has extensively studied experience loyalty, evaluating whether customer satisfaction can accurately predict future loyalty. Although counterintuitive, their conclusion is “no.” The data revealed that 20% of customers who reported that they were “satisfied” also expressed an intention to buy from someone else. And the delight strategy fares no better: “There was virtually no difference between the loyalty of customers whose expectations were exceeded and those whose expectations were simply met,” the report states. Instead, the true driver of customer loyalty is the amount of effort customers must use to resolve a problem: 96% of customers who had a high-effort experience reported being disloyal compared with 9% with low-effort experiences.

    As business leaders, we don’t want our customers to have problems with our products or services. But it doesn’t take a “big” problem to give a customer the feeling that a company is hard to do business with. Gartner identifies the key sources of customer effort as:

    It’s more likely that a “simple” customer request can reveal whether it’s genuinely easy to do business with your company.

    Related: 12 Golden Rules for Customer Experience Strategy

    B2B payments are complex, but the buying experience can be simple

    In evaluating today’s B2B customer journey, many B2B buyers find the purchase process complicated and time-consuming. It can be hard to select a supplier, and once chosen, the onboarding process can take days (or even weeks, in some industries) adding immense friction at the very beginning of the customer experience. This segment of the customer journey has historically been a manual and paper-based system. In my experience, many companies “digitize” payments by adding online forms, which does not improve or accelerate the manual underpinnings.

    Today’s buyers have much higher expectations and expect B2B ecommerce to be fully automated, instantly responsive and mobile-friendly. Furthermore, corporate customers increasingly want more self-service account options, which require robust portals or apps that allow them to access invoices, make payments, manage disputes and more in just a few clicks.

    Better B2B payments can remove a majority of the friction

    Today, business growth will likely include new digital channels, such as ecommerce, marketplaces and more. And although B2B customers enjoy these new channels, they want to continue purchasing the way they always have, with contracts, purchase orders (POs) and invoices. Why? Because contracts often include special pricing and other negotiated terms, and the POs and invoices are required to manage enterprise expenses.

    That’s why digital channels designed to offer a great B2B customer experience must include all the complexity required by buyers and their organizations. The key is that the complicated plumbing must sit behind a sleek, easy checkout experience.

    The good news is that the days of building these digital solutions in-house are long gone. Instead, B2B merchants can choose to join an existing B2B payments and invoicing network that is purpose-built to reduce many of the challenges organizations encounter as they strive to enhance experience loyalty. These proven B2B payments providers can provide:

    • Real-time trade credit decisioning in moments, not days, that keep prospective buyers engaged when they have decided to purchase

    • Right-sized corporate trade credit accounts

    • Automated accounts receivable to support new customer acquisition and onboarding

    • Digital invoices in formats that are easy for enterprise systems to digest

    • Fraud detection and mitigation during trade credit decisioning

    Related: The Ultimate Secret of Building a Loyal Customer Base

    A modern B2B payment process can create experience loyalty

    It’s the new reality: Most B2B buyers don’t want help during “the sales process” unless they ask for it. Instead of relying on salespeople to build sticky relationships, companies must grow customer loyalty in other ways. Investing in an easier payments experience is an excellent place to start.

    Many companies view their online payment experience as merely mechanical — it either works or not — and in the past, they were largely correct. But like it or not, today’s digital world is very different. With a world of merchants at their fingertips, buyers know they have choices and are quick to take their business elsewhere. That’s why suppliers that create a customer-centric checkout, designed to give B2B buyers an experience that is neither complicated nor time-consuming, can gain a significant competitive edge. According to McKinsey, B2B companies that transformed their customer experiences saw 10 to 15% revenue growth, higher client satisfaction scores, improved employee satisfaction and a 10-20% reduction in operational costs.

    Companies of all sizes can use this type of technology to their strategic advantage where loyalty-building B2B payments experiences are just a few APIs away. A comprehensive payments solution can significantly reduce the friction that new buyers encounter. Investing in a low-effort onboarding process can create a memorable relationship starter, build experience loyalty and differentiate your company — all the result of strategically investing time and money to create a great B2B ecommerce experience.

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    Brandon Spear

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  • U.S. pending home sales drop for fifth straight month in October

    U.S. pending home sales drop for fifth straight month in October

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    The numbers: U.S. pending home sales fell 4.6% in October, the fifth straight monthly decline, the National Association of Realtors said Wednesday. 

    Economists polled by the Wall Street Journal expected pending home sales to fall 5.5%. 

    The index captures transactions where a contract has been signed, but the home sale has not yet closed.

    Key details: On a year-on-year basis, pending home sales were down a sharp 37%.

    Sales fell in three of the four regions, with the Midwest registering an increase.

    Big picture: Sales have stalled as mortgage rates have jumped, making houses less affordable. Pending home sales are a leading indicator for the sector. Some economists think that buyers might return to the market as mortgage rates have plateaued.

    Market reaction: Stocks
    DJIA,
    -0.63%

    SPX,
    -0.35%
    opened slightly higher on Wednesday. The yield on the 10-year Treasury note jumped to 3.78%.

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  • 19 Strategic Cyber Monday Beauty Buys Our Picky Editors Totally Vouch For

    19 Strategic Cyber Monday Beauty Buys Our Picky Editors Totally Vouch For

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    Every year around this time, our beauty team Slack channel starts to overflow with choice deals we’re keeping a close eye on. After all, although we’re fortunate enough to be able to test new skincare, beauty devices, gadgets, and makeup most days for free, we still know how to spend some cash come Cyber Monday. I know—your wallet might already be crying after you gave it a workout last week, but we’re not done just yet. We still have some serious steals and deals to share (most ending today) that you won’t want to miss. If you’re curious what brands beauty editors will be shopping, keep scrolling. The below brands are at the top of our lists.

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    Shawna Hudson

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  • The Best Early Cyber Monday Deals in 2022 to Shop Right Now

    The Best Early Cyber Monday Deals in 2022 to Shop Right Now

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    ‘Tis the season to shop! The hunt for the best Cyber Monday deals is officially on. Thanksgiving (and Black Friday) has come and gone, which means the holiday season is officially upon us. So while you’re relaxing and enjoying your Thanksgiving leftovers, why not indulge in some last-chance sale shopping with the best Cyber Monday sale events. 

    With Christmas only a few weeks away, you can still get a head-start on your shopping holiday with special early Cyber Monday deals featuring the best in fashion and beauty markdowns from retail powerhouses like Nordstrom, Sephora, and Amazon and brands like Lululemon, Tory Burch, Madewell, and Kate Spade—giving the best assortment of gift ideas for the special people of your list this year (or even for yourself). 

    Sign up for “The Buyline” to receive a curated list of fashion, books, and beauty buys right to your inbox.

    Whether you’re looking for the perfect workout set, cozy comfy clothes for the season, items for a holiday home makeover, the newest Roomba, or any aromatherapy candles you can get your hands on, we’ve put together a list of the best early Cyber Monday deals and saving events from some of our favorite brands and retailers to guide you through this year’s sale madness and help you with all your gift-giving needs.

    Lululemon

    For Cyber Monday, Lululemon’s Black Friday sale will continue, with deals on everything from the brand’s popular Align apparel to running shoes, athleisure, and more. Lululemon’s popular We Made Too Much and Women’s Wunder Under Clothes site sections have merged into the cyber sale, so you’re sure to find the best deals on the brand’s signature styles from both men’s and women’s apparel to accessories at nearly 50% off.

    lululemon Align™ Cropped Tank Top

    lululemon Align™ High-Rise Pant 25″

    Men’s Commission Slim-Fit Pant 32″ WovenAir

    Men’s Relaxed-Fit Training Hoodie

    Nordstrom

    ​​Nordstrom’s Black Friday savings deals began early in the month with the retailer’s up to 60% off holiday sale. The vast cyber sale will continue through Nov. 29 with up to 60% off products from brands like Free People, UGG, Marc Jacobs, Longchamp, Le Creuset, Coach, Schutz, and many more. Additionally, be sure to check out Nordstrom Rack which also has its own “Rack Up The Deals” section featuring mega discounts like an extra 25% off sleepwear and luxe products like Michele Watches. 

    Fluff Yeah Ugg Shearling Slingback Sandal

    Spanx Faux Leather Leggings

    Maison Margiela By the Fireplace Scented Candle

    Amazon

    Amazon’s Black Friday deals, which also kicked off early in the month, are still going strong for Cyber Monday, allowing shoppers to get the best early deals on everything from clothes and gadgets to your favorite home and kitchen necessities. And when it comes to electronics, Amazon has a dedicated section for its own deceives where items such as Kindles, Fire TV Sticks, Echo Show tablets, and more have their own discounts.

    Commando Women’s Perfect Control Faux Leather Leggings

    iRobot Roomba j7+ (7550) Self-Emptying Robot Vacuum

    Ray-Ban Rb3611 Square Sunglasses

    Little Bissell Green Multi-Purpose Portable Carpet

    J.Crew 

    Get cozy this holiday season with the best winter layers and festive holiday attire J.Crew has to offer—at half the price. For Cyber Monday, deals on men’s clothing start at just $19.50 while women’s clothes start at $14.50 and kids items start at $12.50. In addition, select styles ranging across men’s, women’s, and kids feature slashed prices, plus users can also take an extra 10% off certain styles with code CYBER at checkout. 

    Ludlow Slim-Fit Tuxedo Jacket in Velvet

    ALO

    The fan-favorite yoga and athleisure brand is celebrating Cyber Week with a 30% off sitewide sale lasting from now through Cyber Monday, with new styles and five brand new collections / colors dropping just for this special sales period. The sale will then continue for Giving Tuesday with 100% of the proceeds being donated to Alo Gives. 

    Stunner Puffer Jacket in Cranberry

    Rise Up Long Sleeve Body Suit in Black

    Naked Cashmere

    In honor of the cyber shopping season, Naked Cashmere has launched an exclusive limited-edition Black Friday collection featuring seven tiers of gift sets—including the brand’s most coveted bestsellers, ranging from $75 to $405. Lasting from now through Dec. 2, the special black monochromatic collection includes luxe men’s and women’s cashmere pieces such as sweaters, jogger sets, accessory sets, a cozy robe, and eye mask sets.

    Shopbop

    Shopbop is giving shoppers the gift of stylish discounts on trending designers with their 25% storewide sale using code HOLIDAY. In addition to the special Cyber Week sale, lasting through Cyber Monday, shopper can also divulge in the retailer’s sale section featuring up to 60% off popular brands like Saint Laurent, Victoria Beckham, Stella McCartney, Cult Gaia, Ulla Johnson, and more. 

    Simon Miller S835 Mini Retro Bag

    Saint Laurent Classic Combination Corner Angle Rectangular Sunglasses

    Tory Burch

    For Cyber Monday, Tory Burch’s Black Friday offers will continue allowing shoppers to enjoy up to 60% off select styles and a range of discounts up to 50% off their current sale section, which features everything from shoes and accessories to ready-to-wear, and a selection of new markdowns. Nab a pair of classic Tory Burch flats or a chic handbag, some runway ready-to-wear or a cute ensemble from the designer’s Tory Sport line. 

    Perforated Poplin Cut Out Dress

    Kate Spade

    New York-based brand Kate Spade got in on the Cyber Week action with a mega sale featuring up to 50% off everything (with exclusions) through Nov. 27, using code BLACKFRIYAY at checkout. Then, for Cyber Monday, the sale will increase to 60% off. But be sure to check out the site on Giving Tuesday for more savings. The site’s 60% sale will continue but with 5% of the sales going to support the empowerment and mental health of women and girls globally.

    Sam Icon Leather Small Tote

    Hill House Home 

    Hill House’s Annual Sale is treating shoppers to a 30% off sitewide sale with code 30FORYOU at checkout. In addition to the site sale, Hill House will present their first-ever “Stock Up Special” where fans of the beloved Nap Dress can stock up on the special style with the brand’s “build your capsule wardrobe,” which features selection of Nap Dresses in four classic neutrals at prices ranging from $55 to $95. 

    Nike

    For the workout fanatics and the athleisure fans, Nike is putting their best foot forward with a big Cyber Monday sale featuring items up to 60% off. And we’re talking about a plethora of Nike products from top-rated running shoes, workout gear, comfy clothing, accessories, and equipment. With more than 5000 items on sale, there’s no shortage of great deals for everyone.

    Pegasus Trail 3 Men’s Running Shoes

    Sportswear Phoenix Fleece Women’s High-Waisted Joggers

    Madewell

    Madewell is continuing their Black Friday sale treating shoppers to 50% off their orders using code TGIF at check out. Shoppers can enjoy the special discount on everything from winter coats, sweaters, jeans, and activewear to basic tees, accessories, and pajamas. In addition to the cyber sale, you can also shop Madewell’s vast sale section for even more discounts. 

    Madewell Vintage Straight Jean in Mayfair Wash

    Carina Platform Chelsea Boot

    Our Place 

    For Cyber Monday, Our Place will continue their Black Friday sale, allowing shoppers to save up to 45% off sitewide. The sale includes some of their best-selling items including the Always Pan and the Perfect Pot. The holiday sale will also include up to 30% off Our Place cookware and up to 25% off tableware. 

    Outdoor Voices 

    Beloved activewear and athleisure brand Outdoor Voices is treating shoppers to 30% off sitewide with exclusions. On Cyber Monday, the 30% off sale will continue with hundreds of new styles added and feature up to 70% off the site’s OV Extra Sale section. The Cyber Monday leg of the sale will last from 12 a.m. to 3 a.m. ET.

    Outdoor Voices Warm Up Shorts in Poppy

    AWAY 

    For the first time ever, Away is holding its first-ever Black Friday/Cyber Monday event on all suitcases. From now through Cyber Monday, the fan-favorite travel brand will be offering promotions on everything from their best-selling poly-carbonate luggage like The Carry-On to newer additions like the Aluminum Collection. With the special Cyber Week promotion, shoppers can enjoy $50 off any two suitcases and $100 off any three suitcases along with an additional discount of up to 40% off select bags and accessories.

    The Aluminum Large Suitcase

    Baublebar

    For Baublebar’s Cyber Monday sale, shoppers can enjoy 30% off sitewide using code BB30, lasting through Nov. 29. The Cyber Week sale also features doorbuster sales on some of the brand’s special collections and shoppers can take an extra 30% off sale sections items. 

    Dalia Small Hoops in Gold

    Bennett 18K Gold Tennis Necklace

    Brooklinen

    Upgrade your sleep atmosphere with fan-favorite products from Brooklinen. From now through Nov. 30, Brooklinen is offering 20% off sitewide on everything from bedding to plush robes, blankets, and more. Exclusions on the sale include the brand’s Last Call and Spaces partner products. 

    Heathered Cashmere Core Sheet Set

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    Morgan Evans

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  • 44 Best Amazon Cyber Monday Sales 2022 You Don’t Want to Miss

    44 Best Amazon Cyber Monday Sales 2022 You Don’t Want to Miss

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    The holiday season is officially here, so get started on your gift shopping ahead of time with some of the best Amazon Cyber Monday sales the retail giant has to offer. Figuring out where to begin in Amazon’s curated holiday market can be daunting, but we’re here to help you discover gifts for everyone on your list.

    Below you’ll find our picks for the best Amazon Cyber Monday sales that you’ll want to get your hands on before things sell out. From designer denim for him and chic accessories for her to precious shoes for the kids, Samsung TVs, and everyone’s favorite robot vacuum, here’s a selection of the best Amazon Cyber Monday sale steals you can nab through Cyber Monday. 

    Editor’s note: For Amazon products with a range of different sale price points, we have selected the lowest price point for the product displayed. 

    For Her

    Amazon’s Cyber Monday sales feature an abundance of items to update her wardrobe. There’s so much to choose from, including great everyday basics, comfy athleisure, sleek boots, and some back-to-office staples. And we can’t forget about Amazon’s Luxury Stores with great sale options on top designer brands. 

    Yummie Women’s Faux Leather Shaping Legging

    Dr. Martens Women’s Arbor Steel Toe Light Industry Boots

    Mother Women’s Superior The Tomcat Jeans

    Sensi Studio Lamp Shade Melange Hippie with Wool & Straw

    Vince Women’s Warren Slip On Platform Sneaker

    Alo Yoga High Waist Goddess Leggings

    For Him

    A good pair of weekend-friendly jeans, a handsome watch, and sumptuous suede boots are just a few of the steals we found in Amazon’s Cyber Monday sale for men. Whether he’s in need of a wardrobe upgrade or a great shave, Amazon has all the goods to gift him this season.

    Tissot Mens Gentleman Stainless Steel Dress Watch

    7 For All Mankind Men’s Luxe Performance Slim Fit Jeans

    Vince Men’s Raider Ankle Boot

    Ray-Ban Rb3611 Square Sunglasses

    SAMSUNG Galaxy 4 40mm Smartwatch with ECG Monitor Tracker

    Philips Norelco Multi Groomer

    Men’s Calvin Klein Boxer Briefs

    Theory Men’s Murphy Precision Ponte ($274)

    Joe’s Jeans Men’s Athletic Vardy Slim Jeans

    For Kids

    Cute, functional, and affordable are the names of the game when it comes to Amazon’s selection of kids’ clothing and toys. From fuzzy Uggs and adorable clothes to educational STEM games and scooters, there’s a lot for kids to love in this Cyber Monday sale.

    Burt’s Bees Baby Baby Boys’ Sweatpants

    K KomForme Toddler Sneakers

    National Geographic Earth Science Kit

    UGG Unisex-Child K Oh Yeah Slipper

    Micro Kickboard Three-Wheeled Scooter with Light Up Handlebars

    Mud Kingdom Girls Cardigan

    For the Tech Lovers

    Whether you need to upgrade your headphone situation or pick up a new TV, this Cyber Monday, Amazon has you covered. From a mini iPhone projector to the latest Roomba vacuum and every Amazon electronic device you can imagine, there’s no shortage of electronic and tech gift ideas.

    iRobot Roomba j7+ (7550) Self-Emptying Robot Vacuum

    Colsen Tabletop Portable Concrete Fire Pit

    Kindle Paperwhite, Signature Edition

    Aerogarden Sage Indoor Harvest

    Mini Projector for iPhone

    Beats Studio Wireless Noise Cancelling Earbuds

    Echo (4th Gen) Spherical Design Smart Home Hub

    Samsung 65-Inch Class OLED 4K S95B Series Quantum HDR

    Apple AirPods Pro Wireless Earbuds with MagSafe Charging Case

    Eufy Self-Cleaning Vacuum

    For the Pet Owners

    We can’t forget about your furry friends who deserve some extra love this holiday season. From cute coats and comfy beds to a car seat to keep them safe on long journeys, here are some on-sale items that we’re excited to share with our four-legged children.

    Star Wars for Pets Darth Vader Toy

    Best Friends by Sheri, The Original Calming Donut Cat and Dog Bed

    Kurgo Dog Booster Seats for Cars

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    Ariel Kanter

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  • I Vetted Hundreds of Black Friday Beauty Deals, and These 18 Are Actually Legit

    I Vetted Hundreds of Black Friday Beauty Deals, and These 18 Are Actually Legit

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    Even though it feels impossible that we could be entering the holiday season already, the time has come for the annual shopping blitz that is Cyber Weekend. For the next few days, the entire internet will be set ablaze by countless Black Friday promotions and Cyber Monday discounts on everything you can imagine, including some beloved beauty products. As you may have already noticed, there are literally hundreds of deals available, but as an editor who shops all day for a living, I can tell you that not all sales are worth your time.

    With all the mediocre deals and minimal discounts vying for your attention right now, it can be tough to know which purchases to commit to. That’s why I’ve meticulously combed the internet to assemble this highly curated list of the absolute best beauty sales worth your time and hard-earned money. Below, check out the sales from some of our favorite retailers such as Glossier, Nécessaire, and so many more. Keep scrolling to get the scoop.

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    Courtney Higgs

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  • How to Increase Your Sales by Analyzing Your Marketing Funnel

    How to Increase Your Sales by Analyzing Your Marketing Funnel

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    Opinions expressed by Entrepreneur contributors are their own.

    Your marketing funnel is the process that your potential customers go through as they move from awareness of your product or service to purchase. The funnel narrows at each stage, from the many people who are aware of your brand to the few who actually buy from you. Understanding your marketing funnel is essential to improving results and driving conversions.

    Let’s say you’re trying to increase sales. You need to understand how your marketing funnel works so you can make changes that will lead to more sales. Here are four steps you can take to analyze your marketing funnel and improve results:

    1. Define your marketing funnel stages

    2. Set conversion goals for each stage

    3. Identify bottlenecks in your funnel

    4. Test and experiment to improve results

    Let’s take a closer look at each of these steps so you can use them in your own business:

    Related: How to Generate Interest at Every Stage of the Marketing Funnel

    1. Define your marketing funnel stages

    The first step is to define the stages of your marketing funnel. This will vary depending on your business, but most funnels include the following stages:

    • Awareness: Potential customers become aware of your product or service.

    • Interest: Potential customers are interested in your product or service and want to learn more.

    • Consideration: Potential customers are considering your product or service and comparing it to other options.

    • Purchase: Potential customers buy your product or service.

    • Loyalty/advocacy: Customers who buy your product or service become brand advocates and promote your business to others.

    There are other variations of this model, but this is a good place to start. Once you’ve defined the stages of your funnel, you can move on to step two.

    2. Set conversion goals for each stage

    The second step is to set conversion goals for each stage of the marketing funnel. These goals should be realistic and achievable based on historical data and current circumstances. For example, if you know that 2% of people who are aware of your brand eventually buy from you, then you can set a goal of increasing that number to 3%. Once you’ve set conversion goals for each stage, you can move on to step three.

    3. Identify bottlenecks in your funnel

    The third step is to identify any bottlenecks in your marketing funnel that are preventing potential customers from moving on to the next stage of the funnel. Common bottlenecks include:

    Lack of awareness: Potential customers are not aware of your product or service because they haven’t been exposed to your marketing messages.

    Solution: Increase advertising, and create more compelling content that speaks directly to your target audience’s needs.

    Lack of interest: Potential customers are not interested in your product or service because it doesn’t solve their problems or meet their needs.

    Solution: Review your messaging and positioning to make sure you’re speaking directly to the needs of your target audience.

    Lack of consideration: Potential customers are not considering your product or service because they don’t know enough about it.

    Solution: Create more content that educates potential customers about the features and benefits of your product or service.

    Lack of purchase: Potential customers are not buying your product or service because they don’t see the value in it.

    Solution: Review pricing, packaging and positioning; consider offering discounts or other incentives; adjust messaging accordingly.

    4. Test and experiment to improve results

    The final step is to test different messages, offers, channels, etc., to see what leads potential customers down the path to purchase. Try different tactics and track results so you can continue doing more of what works and less of what doesn’t work. Remember, it’s important always to be testing and experimenting so you can continue improving results.

    Related: How to Create a Marketing Funnel That Will Increase Sales and Profits

    By taking these four steps, you can gain a better understanding of how your marketing funnel works and make changes that will lead to more sales. Of course, by taking these four steps regularly — perhaps quarterly — you can ensure that any changes made throughout the year actually have an impact on ROI come budget time.

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    Jacinda Santora

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  • The Best Early Black Friday Deals to Shop Ahead of Cyber Week

    The Best Early Black Friday Deals to Shop Ahead of Cyber Week

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    ‘Tis the season to shop! The hunt for the best early Black Friday and Cyber Week deals is officially on. As we inch closer to Thanksgiving, the biggest holiday shopping events of the year are almost here. Black Friday and Cyber Monday holidays kick off on Nov. 25 and Nov. 28, but retailers everywhere are starting sales now.

    And even though Black Friday is a few weeks away, you can still get a head-start on your shopping holiday with special early Black Friday deals featuring the best in fashion and beauty markdowns from retail powerhouses like Nordstrom, Sephora, and Amazon and brands like Lululemon, Tory Burch, Madewell, and Kate Spade—giving the best assortment of gift ideas for the special people of your list this year (or even for yourself). 

    Sign up for “The Buyline” to receive a curated list of fashion, books, and beauty buys right to your inbox.

    Whether you’re looking for the perfect workout set, cozy comfy clothes for the season, items for a holiday home makeover, the newest Roomba, or any beauty products you can get your hands on at Sephora, we’ve put together a list of the best early Black Friday deals and saving events from some of our favorite brands and retailers to guide you through this year’s Cyber Week and help you with all your gift-giving needs.

    Lululemon

    While the details of Lululemon’s Black Friday sale haven’t officially been announced, shoppers can still browse the brand’s website and score some great early deals on all types of products. In both Lululemon’s We Made Too Much and Women’s Wunder Under Clothes sections, you can find the best deals on some of the brand’s signature styles, from men’s and women’s apparel to accessories at nearly 50% off.

    lululemon Align™ Cropped Tank Top

    lululemon Align™ High-Rise Pant 25″

    Men’s Commission Slim-Fit Pant 32″ WovenAir

    Men’s Relaxed-Fit Training Hoodie

    Nordstrom

    ​​Nordstrom’s Black Friday savings deals have begun early with up to 60% off holiday sale but the official Cyber Week events will begin on Nov. 18 and run through Nov. 29 with up to 60% off products from brands like Free People, UGG, Marc Jacobs, Longchamp, Le Creuset, Coach, Schutz, and many more. Additionally, Nordstrom Rack will have a Black Friday flash event starting on Nov. 24 at 9 p.m. and ending on Nov. 26 at 8 a.m. Be sure to keep these dates in mind to get the best Nordstrom deals ahead of the game. 

    Fluff Yeah Ugg Shearling Slingback Sandal

    Spanx Faux Leather Leggings

    Maison Margiela By the Fireplace Scented Candle

    Amazon

    Amazon’s Black Friday deals have already kicked off, allowing shoppers to get the best early deals on everything from clothes and gadgets to your favorite home and kitchen necessities. And when it comes to electronics, Amazon has a dedicated section for its own deceives where items such as Kindles, Fire TV Sticks, Echo Show tablets, and more have their own discounts.

    Commando Women’s Perfect Control Faux Leather Leggings

    iRobot Roomba j7+ (7550) Self-Emptying Robot Vacuum

    Ray-Ban Rb3611 Square Sunglasses

    Little Bissell Green Multi-Purpose Portable Carpet

    J.Crew 

    Get cozy this holiday season with the best winter layers and festive holiday attire J.Crew has to offer—at half the price. For Black Friday, J.Crew is treating shoppers to 50% off their purchase on select styles ranging across men’s, women’s and kids. Users can also take an extra 50% off select sale items.

    Ludlow Slim-Fit Tuxedo Jacket in Velvet

    ALO

    The fan-favorite yoga and athleisure brand is celebrating Cyber Week with a 30% off sitewide sale last from now through Cyber Monday, with new styles and five brand new collections / colors dropping on sale just for this special sales period. Then for Giving Tuesday, the sale will continue but 100% of the proceeds from the sale purchases will be donated Alo Gives. 

    Stunner Puffer Jacket in Cranberry

    Rise Up Long Sleeve Body Suit in Black

    Naked Cashmere

    In honor of the cyber shopping season, Naked Cashmere has launched an exclusive limited-edition Black Friday collection featuring seven tiers of gift sets—including the brand’s most coveted bestsellers, ranging from $75 to $405. Lasting from now through Dec. 2, the special black monochromatic collection includes luxe men’s and women’s cashmere pieces such as sweaters, jogger sets, accessory sets, a cozy robe, and eye mask sets.

    Shopbop

    Shopbop is giving shoppers the gift of stylish discounts on trending designers with their 25% storewide sale using code HOLIDAY. In addition to the special Cyber Week sale, lasting through Cyber Monday, shopper can also divulge in the retailer’s sale section featuring up to 60% off popular brands like Saint Laurent, Victoria Beckham, Stella McCartney, Cult Gaia, Ulla Johnson, and more. 

    Simon Miller S835 Mini Retro Bag

    Saint Laurent Classic Combination Corner Angle Rectangular Sunglasses

    Tory Burch

    Ahead of Black Friday, Tory Burch shoppers can enjoy a range of discounts on select styles from their current sale section which features everything from shoes and accessories to ready-to-wear. Nab a pair of classic Tory Burch flats or a cute ensemble from the designer’s Tory Sport line. Whatever you chose, you can’t go wrong with these stylish sale items.

    Perforated Poplin Cut Out Dress

    Kate Spade

    New York-based brand Kate Spade is also getting in on the early deal action ahead of all the sale action with a special early Black Friday Preview running from now through Nov. 22 with code BFPREVIEW. The early sale will feature deals on select handbags and full-price items up to 50% off as well as an extra 30% off certain markdowns. Then, starting on Nov. 23 through Nov. 27, the sale will increase to up to 50% off everything (with exclusions) and go up to 60% for Cyber Monday. Finally for Giving Tuesday, the up to 60% sale will continue but with 5% of the sales going to support the empowerment and mental health of women and girls globally.

    Sam Icon Leather Small Tote

    Hill House Home 

    Hill House Home’s Annual Sale is kicking off right before the Thanksgiving holiday this year. From now until Nov. 25, shoppers can enjoy 30% off sitewide with code 30FORYOU at checkout. And for those who are fans of the ever-popular Nap Dress, score a special deal on the beloved style from Black Friday through Cyber Monday, in addition to extra discounts on everything from pajamas, holiday styles, accessories, Hill House’s new technical puffer jackets, and more. 

    Nike

    For the workout fanatics and the athleisure fans, Nike is putting their best foot forward with a big pre-cyber week sale with items up to 40% off. And we’re talking about a plethora of Nike products from top-rated running shoes, workout gear, comfy clothing, accessories, and equipment. With more than 5000 items on sale, there’s no shortage of great deals for everyone.

    Pegasus Trail 3 Men’s Running Shoes

    Sportswear Phoenix Fleece Women’s High-Waisted Joggers

    Madewell

    Madewell is kicking off Black Friday early with a 40% off sale both in stores and online. Using code OHJOY at checkout, shoppers can enjoy the special discount on everything from winter coats, sweaters, jeans, and activewear to basic tees, accessories, and pajamas. In addition to the early cyber sale, you can also shop Madewell’s vast sale section for even more discounts.  In fact, if you’re looking for a new set of PJs or cozy sweats, those items are up to 60% off and it doesn’t end there. Shoppers may also have the chance to take an extra 20% off select sale items.

    Madewell Vintage Straight Jean in Mayfair Wash

    Carina Platform Chelsea Boot

    Our Place 

    From now until Nov. 28th, Our Place will feature deals of nearly 50% off some of their best-selling items including the Always Pan and the Perfect Pot. The holiday sale will also include up to 30% off Our Place cookware and up to 25% off tableware. You can also browse the site’s sale section for even more deals. 

    Outdoor Voices 

    Beloved activewear and athleisure brand Outdoor Voices is treating shoppers to an early Black Friday sale starting on Nov. 23 through Nov. 27 featuring up to 30% off sitewide with exclusions. On Cyber Monday, the 30% off sale will continue with hundreds of new styles added and featuring up to 70% off. The Cyber Monday leg of the sale will last from 12 a.m. to 3 a.m. ET.

    Outdoor Voices Warm Up Shorts in Poppy

    AWAY 

    For the first time ever, Away is holding its first-ever Black Friday/Cyber Monday event on all suitcases. From now until Nov. 28, the fan-favorite travel brand will be offering promotions on everything from their best-selling poly-carbonate luggage like The Carry-On to newer additions like the Aluminum Collection. With the special Cyber Week promotion, shoppers can enjoy $50 off any two suitcases and $100 off any three suitcases along with an additional discount of up to 40% off select bags and accessories.

    The Aluminum Large Suitcase

    Baublebar

    Starting on Nov. 21 Baublebar is treating shopping to a 30% off sitewide sale, lasting through Nov. 29. The Cyber Week sale also features doorbuster sales on some of the brand’s special collections. But if you’re looking to nab some discounted baubles ahead of the 21st, shoppers can enjoy 20% off custom jewelry and accessory items with code HURRY.  

    Dalia Small Hoops in Gold

    Bennett 18K Gold Tennis Necklace

    Brooklinen

    Upgrade your sleep atmosphere with fan-favorite products from Brooklinen. From now through Nov. 30, Brooklinen is offering 20% off sitewide on everything from bedding to plush robes, blankets, and more. Exclusions on the sale include the brand’s Last Call and Spaces partner products. 

    Heathered Cashmere Core Sheet Set

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    Morgan Evans

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  • These Black Friday Sales Are Amazing—Here’s Absolutely Everything Worth Buying

    These Black Friday Sales Are Amazing—Here’s Absolutely Everything Worth Buying

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    Well, it’s officially that time. Yep, the Black Friday deals are upon us. In fact, some brands and retailers launched sales early this year. Ahem, Nordstrom. Well, there are now new and further discounts across some of our favorite labels. Naturally, we’re sharing the most noteworthy Black Friday fashion deals below.

    If you keep scrolling, you’ll uncover the sales to consider checking out this season. For a little shopping inspiration, we’re also highlighting products that we think are worth buying due to their chic nature and standout pricing.

    Go on for more intel on the best Black Friday sales to shop in 2022.

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    Bobby Schuessler

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  • Why Small Talk Is a Big Deal — And What to Do If You Hate It

    Why Small Talk Is a Big Deal — And What to Do If You Hate It

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    Opinions expressed by Entrepreneur contributors are their own.

    We’ve all heard it a thousand times: “People buy from people they like!” “Engage your customer!” “Ask questions about their family and hobbies!” “Become their friend!” And deep down you may even believe that small talk leads to relationship building, which is of course, important to your business. But, what if on the surface you feel that chitchat about weather, sports or your prospect’s family is a waste of time and you would just rather get right down to business?


    kate_sept2004 | Getty Images

    Related: That Potential Client Is Judging You So Focus on Making a Good First Impression

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    Weldon Long

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  • 26 Special Basics I’ve Been Waiting All Year to Buy From the Black Friday Sales

    26 Special Basics I’ve Been Waiting All Year to Buy From the Black Friday Sales

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    Black Friday is finally here, so let’s all try to ignore that feeling of panic we woke up with (is it just me?) and get organized. The purpose of Cyber Weekend is, of course, to get some great deals on gifts ahead of the holidays. But from a fashion person’s perspective, it’s also the shopping Olympics. I, for one, convince myself for months before Black Friday to wait until the entire internet is on sale to order some items.

    It’s typical to see very trendy items marked down as the season progresses, but basics don’t always see such frequent price reductions. As such, I’m putting the focus here on an assortment of special basics that are finally marked down. Below, you’ll find denim, boots, sweaters, outerwear, and all the everyday things that you may regret missing out on while they’re on sale and still in stock. 

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    Allyson Payer

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  • I’m a Sale Shopping Pro—29 Buys You Don’t Want to Skip This Week (and 2 You Do)

    I’m a Sale Shopping Pro—29 Buys You Don’t Want to Skip This Week (and 2 You Do)

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    Considering I basically shop online all day for a living, it should come as no surprise that I am rather good at scoping out incredible sale finds. Digging through endless pages of discounted products is not fun for anyone, and with Black Friday and Cyber Monday right around the corner, the volume of sales is only growing larger by the second. To ensure you have the most pleasurable sale shopping experience this year, I went through the best sales of the season to bring you the 29 buys you absolutely don’t want to skip this week and weekend. 

    Additionally, there are a couple of things I want to advise you not to purchase during this sale period. A few years ago, we received some insider knowledge from a retail expert at BlackFriday.com on exactly what to not buy during these seasonal sales. The first thing on the list was jewelry. There are more discounts on jewelry post–Valentine’s Day, so if you can avoid the category altogether, you’ll be making a wise decision. The second is winter coats. I know I, for one, am always extremely tempted to stock up on all the stunning outerwear the season has to offer, but experts state that you will get better details once the winter season has ended, so once again, hold off if you can. 

    You’re welcome for those secret Black Friday and Cyber Monday sale shopping tips, but our goal was not to get you to hold off on shopping; it was actually to encourage you to stock up on all the incredible finds that we are advising you to buy ASAP. So go on and fill your carts. You deserve it. 

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    Lauren Eggertsen

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  • U.S. existing home sales retreat for a record ninth straight month in October

    U.S. existing home sales retreat for a record ninth straight month in October

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    The numbers: Existing-home sales fell 5.9% to a seasonally adjusted annual rate of 4.43 million in October, the National Association of Realtors said Friday. Compared with October 2021, home sales were down 28.4%.

    Economists polled by the Wall Street Journal had expected an decrease to 4.37 million units. 

    The level of sales is the lowest since December 2011 excluding the 2020 pandemic.

    This is also the ninth straight monthly decline in sales, the longest streak on record.

    Key details: The median price for an existing home was $379,100 up 6.6% from October 2021.

    But price gains are decelerating. Prices were up over 20% on a year-on-year basis earlier this year.

    Housing inventory fell 0.8% to 1.22 million units in October. Unsold inventory sits at a 3.3-month supply at the current sales pace, up from 3.1 months in September and 2.4 months a year ago.

    A 6-month supply of homes is generally viewed as indicative of a balanced market.

    Sales declined in all regions of the country.

    Big picture: Home sales have dropped as mortgage rates have risen sharply and affordability has dropped.

    Softer inflation data in October have led to a drop in mortgage rates, which could lead for a floor on sales.

    At the same time, Federal Reserve officials may pencil in a “peak” interest rate above 5% at the policy meeting next month.

    Economists see home prices have further to fall in this market.

    What the NAR is saying: Home sales have been very low and the softness could continue for a few months. But sales could pick up early next year if the mortgage rate has peaked, said Lawrence Yun, chief economist at the NAR.

    Market reaction: Stocks
    DJIA,
    +0.59%

    SPX,
    +0.48%
    opened lower on Friday. The yield on the 10-year Treasury note
    TMUBMUSD10Y,
    3.827%
    rose to 3.79%.

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  • Why Can’t We Resist Black Friday? A Behavioral Economist Explains.

    Why Can’t We Resist Black Friday? A Behavioral Economist Explains.

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    Opinions expressed by Entrepreneur contributors are their own.

    Imagine you put on an old coat you haven’t worn in a while and, to your surprise, you find a crumpled $20 bill in your pocket. How good does it feel? Do you go up half a notch on a one-to-ten mood scale, or maybe a full-notch?

    Let’s imagine a different scenario. You’re doing the laundry, take out a just-washed pair of pants, and discover you forgot a $20 bill in the pocket — which has been completely ruined. What does that do to your mood on a one-to-ten scale?

    If you’re like most people, you feel much worse about losing $20 than about gaining $20. That tendency is called loss aversion, one among many dangerous judgment errors that behavioral scientists call cognitive biases. The mental blindspot called loss aversion is one of the most fundamental insights of a field of behavioral science called prospect theory in the last few decades.

    Loss aversion is one of the three key reasons why our minds get sucked — and suckered — into Black Friday and Cyber Monday sales. Retailers know that our intuitive reaction is to avoid losses, with research showing this drive might be up to twice as powerful as the desire to make gains. By offering short-term sales, available only on Black Friday or Cyber Monday, they tap into our deep intuition to protect ourselves from the loss of the opportunity represented by the sale.

    Similarly, loss aversion helps explain why so many marketing techniques involve trial periods and free returns. Retailers know that once you buy something, you’ll be averse to losing it.

    In a classic research study illustrating this tendency, participants were divided into two groups: one was given a chocolate bar and the other a mug. Then, they were offered the chance to trade what they had for the other object. Of the students given the mug first, only 11% chose to trade it for the chocolate bar, and only 10% of the students who got the chocolate first exchanged it for the mug.

    We want whatever we have and are reluctant to lose it — such as an opportunity to buy something at a lower price during a short time period during Black Friday or Cyber Monday sales. In fact, behavioral scientists have a special term for people putting excessive value and being reluctant to give up whatever they have: the endowment effect, a specific form of loss aversion.

    Let’s imagine a different scenario. It’s Cyber Monday, and you decided to check out the deals on an e-commerce website. You feel confident you’ll only get one or two of the best deals. But once you visit the website, you’re hooked. All those deals look great. The discounted prices are too good to pass up. So you end up taking advantage of a bunch of deals and purchase much more than you intended to in the first place.

    Why did that happen? Why couldn’t you control yourself? It’s due to a cognitive bias called the restraint bias. We substantially overestimate the extent to which we can restrain our impulses. In other words, we have less self-control and weaker willpower than we like to think we do.

    Related: Online Scams Are More Sophisticated Than Ever. Here’s How to Shop Safely on Black Friday and Cyber Monday, According to a Cyber Intelligence Expert.

    That’s why so many people overeat at buffet restaurants. If we had good self-control, buffet restaurants would be great: We could get whatever we want at a cheaper price than ordinary restaurants. Yet the problem is that we overestimate our ability to control our impulsive desire to take more food, and loss aversion causes us to try to avoid losing the opportunity to take the wide variety of food available at buffets.

    Black Friday and Cyber Monday are the shopping equivalent of buffet restaurants. So many tempting deals around, with loss aversion driving us to not want to lose out, all resulting in shopping much more than we wanted.

    The final key psychological reason why you get sucked into Black Friday and Cyber Monday sales explains why you’re reading articles like this one. Here’s the thing: The abundance of news stories, advertisements and social media posts around Black Friday and Cyber Monday makes it seem like everyone is thinking about sales on those days and looking for good deals.

    As a consequence, our minds drive us to jump on the bandwagon of getting into Black Friday and Cyber Monday sales, a tendency that scientists call the bandwagon effect. When we perceive other people aligning around something, we are predisposed to join them. After all, they wouldn’t be doing it if it wasn’t a good idea, right?

    Loss aversion, restraint bias, and the bandwagon effect are mental blindspots that impact decision-making in all life areas, ranging from the future of work to mental fitness. Fortunately, recent research has shown effective and pragmatic strategies to defeat these dangerous judgment errors, such as by using decision aids to constrain our shopping choices.

    A useful strategy for Black Friday and Cyber Monday involves deciding in advance the purchases you’d like to make if they are on sale and buying them online instead of in the store. For example, you might decide to buy a certain laptop if it’s more than 20% off or a specific big-screen TV if it’s 30% off. Save the website pages of the laptop or TV that you want to buy, and then visit them on Black Friday and Cyber Monday to see if they’re on sale. If they’re not, be disciplined, and don’t buy something else, as you’re likely to get stuck buying much more than you wanted, and some deals are actually too good to be true. Instead, wait for the Christmas sale.

    If you’re an entrepreneur who sells products, consider whether you can take advantage of loss aversion, restraint bias, and bandwagon effect among your customers, whether on Black Friday and Cyber Monday or throughout the year. Alternatively, consider sharing this article with your employees to help them make smart decisions this holiday shopping season.

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    Gleb Tsipursky

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  • 31 Early Amazon Black Friday Deals to Shop Ahead of Cyber Week

    31 Early Amazon Black Friday Deals to Shop Ahead of Cyber Week

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    The holiday season is officially here, so get started on your gift shopping ahead with some of the best early Amazon Black Friday deals. Figuring out where to begin in Amazon’s curated holiday market can be daunting, but we’re here to help you discover gifts for everyone on your list.

    Below you’ll find our picks for the best Amazon Black Friday deals that are already live. From designer denim for him and chic accessories for her to precious shoes for the kids, Samsung TVs, and everyone’s favorite robot vacuum, here’s a selection of the best Amazon steals you can nab ahead of Black Friday.

    Editor’s note: For Amazon products with a range of different sale price points, we have selected the lowest price point for the product displayed. 

    For Her

    Amazon’s Black Friday deals feature an abundance of items to update her wardrobe. There’s so much to choose from, including great everyday basics, comfy athleisure, sleek boots, and some back-to-office staples. And we can’t forget about Amazon’s Luxury Stores with great sale options on top designer brands. 

    Yummie Women’s Faux Leather Shaping Legging

    Dr. Martens Women’s Arbor Steel Toe Light Industry Boots

    Mother Women’s Superior The Tomcat Jeans

    Sensi Studio Lamp Shade Melange Hippie with Wool & Straw

    Vince Women’s Warren Slip On Platform Sneaker

    Commando Women’s Perfect Control Faux Leather Leggings

    For Him

    A good pair of weekend-friendly jeans, a handsome watch, and sumptuous suede boots are just a few of the steals we found in Amazon’s Black Friday sale for men. Whether he’s in need of a wardrobe upgrade or a great shave, Amazon has all the goods to gift him this season.

    Tissot Mens Gentleman Stainless Steel Dress Watch

    7 For All Mankind Men’s Luxe Performance Slim Fit Jeans

    Vince Men’s Raider Ankle Boot

    Ray-Ban Rb3611 Square Sunglasses

    SAMSUNG Galaxy 4 40mm Smartwatch with ECG Monitor Tracker

    Philips Norelco Multi Groomer

    For Kids

    Cute, functional, and affordable are the names of the game when it comes to Amazon’s selection of kids’ clothing and toys. From fuzzy Uggs and adorable clothes to educational STEM games and scooters, there’s a lot for kids to love in this Black Friday sale.

    Burt’s Bees Baby Baby Boys’ Sweatpants

    K KomForme Toddler Sneakers

    National Geographic Earth Science Kit

    UGG Unisex-Child K Oh Yeah Slipper

    Mirco Kickborad Three-Wheeled Scooter with Light Up Handlebars

    Mud Kingdom Girls Cardigan

    For the Tech Lovers

    Whether you need to upgrade your headphone situation or pick up a new TV, this Cyber Week, Amazon has you covered. From a mini iPhone projector to the latest Roomba vacuum and every Amazon electronic device you can imagine, there’s no shortage of electronic and tech gift ideas.

    iRobot Roomba j7+ (7550) Self-Emptying Robot Vacuum

    Mini Projector for iPhone

    Beats Studio Wireless Noise Cancelling Earbuds

    Echo (4th Gen) Spherical Design Smart Home Hub

    Samsung 65-Inch Class OLED 4K S95B Series Quantum HDR

    Apple AirPods Pro Wireless Earbuds with MagSafe Charging Case

    Eufy Self-Cleaning Vacuum

    For the Pet Owners

    We can’t forget about your furry friends who deserve some extra love this holiday season. From cute coats and comfy beds to a car seat to keep them safe on long journeys, here are some on-sale items that we’re excited to share with our four-legged children.

    Star Wars for Pets Darth Vader Toy

    Best Friends by Sheri, The Original Calming Donut Cat and Dog Bed

    Kurgo Dog Booster Seats for Cars

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    Ariel Kanter

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  • Give Your Employees The 3-Point Strategy They Need To Drive Sales

    Give Your Employees The 3-Point Strategy They Need To Drive Sales

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    Opinions expressed by Entrepreneur contributors are their own.

    It’s your employees’ job to motivate buyers, but employees similarly need the right tools to succeed. In today’s competitive environment, a well-written value proposition fills that need.

    What is your value proposition?

    A value proposition isn’t just useless information about your company, products or services. It’s a statement about what outcomes a person or group can expect when working with your company.

    A company’s value proposition is at the core of its business model. It’s a promise the organization makes to its customers regarding the value of its products and/or services. A value proposition should be simple, but powerful and clear. A compelling value proposition strategically examines the factors that influence customer focus, and overall business ambition and sets expectations. It serves both your customers and employees by setting up their expectations. Guiding employees by setting these expectations help ensure they understand your company’s standards and gives them something substantial to aspire to in regard to product quality, service, etc.

    Your value proposition guides your strategy

    A value proposition is a critical component of your strategy rather than just a feature of your marketing plan. It should provide three critical benefits:

    • Functional benefits: This is how your product performs. These benefits tie your offer to the outcome the customer wants.
    • Product attribute benefits: This is what makes your product stand out. These benefits provide a credible point for comparing your offer to competitors’ offers.
    • Personal benefits: These benefits account for emotional connections tied to the purchase decision.

    The most successful value propositions will offer the customer all three types of benefits at once. It is a promise that you plan to offer the buyer a positive experience with a great product or service. It convinces the buyer your product is the best choice for them and appropriately capitalizes on how the buyer feels. For employees, an effective value proposition gives them a better sense of what marketing strategies will be most effective.

    Related: How To Create A High-Performing Strategic Plan

    A strategy with real benefits

    Value propositions examine factors that influence a range of areas, such as customer focus or overall business ambition. So rather than seeing them as a feature of your marketing plan, develop the value proposition as a strategic core for all your operational models (e.g., decision-making, finances and resource prioritization).

    Once you have a clear operational strategy based on your value proposition, it will provide direction for all the interactions your employees have with your customers. It tells your sales representatives exactly who the target market is, what that audience wants to get or achieve and what’s most important for the audience to know about your product or service.

    With this clarity, the sales team can become more efficient and productive. They can reduce operating costs, all while improving customer engagement, segment reach, customer retention, market share, revenue, net profit and market share.

    Take my company, for example. I’m the chief marketing officer (CMO) of an investment management company that has made our value proposition a part of our deeper strategy. Our team recognized most organizations handling exchange-traded funds (ETFs) focus on beating a single financial index. However, we acknowledge that investors have specific, long-term goals and want investment solutions based on those unique objectives. We allow those goals to drive the development of all our products. The approach simultaneously meets investor needs and serves as a differentiator.

    Related: Want to Increase Sales? Think Deeper About What You’re Really Selling

    Determining the need to pivot

    Even when employees have a clear value proposition to offer customers, they’ll only be successful if that value proposition is still in line with current markets. Put your value proposition into context by looking at what’s happening outside your business. Is your industry — or an adjacent one — experiencing big changes? If so, you’ll likely have little choice but to pivot and transform.

    But what does transformation look like? You will either expand your value proposition or create a new one. Most companies will rationally expand their proposition until they have evidence that maintaining their core strategy is no longer safe. If you’re in an industry where digital disruption isn’t immediately emerging, you could probably get away with maintaining your tech infrastructure. If your industry is already adopting new digital options, simply optimizing your work might not be enough.

    Whether expanding your value proposition or starting from scratch, your employees need to understand your changes’ intent and practical application. The more they understand these elements, the easier it will be for them to commit to the shifts in an authentic way that improves customer trust.

    A must-have formula

    Whether you’re drawing up a new strategy or tweaking your current one, the key is to define your position based on the target segment you want to dominate and the value proposition you intend to dominate it with. The following formula can help you establish clarity:

    • Our product is for [target customers; functional] who want to [alternative to the norm or current options; functional].
    • Our product provides [key problem-solving capability; functional] that offers [product attributes; product], allowing you to [key product features; personal].

    A completed version of the formula might read: “Our product is for new parents who want to better understand their baby’s emotional wellbeing. Our product provides AI-based emotional tracking for infants that offers biofeedback analytics, calendar graphing and predictive alerts, allowing you to use a customized dashboard to respond and bond more deeply with your little one.”

    Then, you’ll need to differentiate their value proposition from others to stand out. Find ways to demonstrate that your brand offers something competitors do not. Or, explain how the service or product fulfills a need no other company can.

    Strong value propositions build strong business

    In today’s competitive environment, you have to give your employees the tools that can drive customers to take action. And a well-written value proposition can do that. It does more than just serve as a marketing hook. It directs the business and provides strategic guidance for your entire team. It gives workers insight into your values and goals, offering them direction. The resulting unity and efficiency set your brand apart and enable you not just to respond to customer preferences but to drive them. Keep the value proposition formula offered above in your back pocket so that you’ll adapt well and enjoy smooth sailing no matter where the market winds might blow.

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    David Partain

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  • How Going on 3 Dates a Week Improved My Sales Skills

    How Going on 3 Dates a Week Improved My Sales Skills

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    Opinions expressed by Entrepreneur contributors are their own.

    As I entered my 20s at the beginning of 2021, I decided to move out of my parents’ house. I wanted to start fresh socially and move somewhere far away from home. Fast-forward six months, and I’ve successfully moved from Atlanta, Georgia to Provo, Utah. When I arrived in Provo, I had no friends. Even though there are two significant universities down the street, I realized that I had to put myself out there and meet new people.

    To do this, I set a goal to meet two new people a day. Not only did this allow me to make new friends, but I naturally crossed paths with people I was compatible with. Some of these people, I asked out on dates.

    Keep in mind, while I was growing up, I never went on any dates — so I had no dating experience. But after meeting two new people a day, not only did I start going on dates, but as a byproduct, I ended up improving my sales skills by accident. Here are three important things I learned from my experience:

    Related: Take Your Sales Skills to the Next Level With These 5 Simple Steps

    1. Everything comes down to timing

    One of the first lessons I learned from going on three dates a week is that everything comes down to timing. Not just timing as in being ready for a relationship or marriage but also when it comes juggling the timing between school, work, family, travel and so many other factors.

    This is why I am obsessed with email marketing. Email marketing sounds lame and old, but it takes advantage of one key thing: catching people at the right time. This is why weekly email blasts are so powerful.

    Someone who is not interested today could be ready to buy six months down the road. You just have to be consistent and catch them at the right time. Because of this insight, I’ve spent a lot of time learning how I can maximize email marketing within my business. Once I have email marketing mastered, I’ll next start looking into other advanced retargeting methods.

    2. Not everyone is interested

    Within the last year, I’ve been able to individually meet over 3,000 people (both guys and girls) because of my goal of meeting two new people each day. This includes learning their name and speaking with them for at least 2-3 minutes.

    After interacting with this many people around my age range, I quickly learned that not everyone is going to like me. When it comes to finding people you are compatible with, you have to play the numbers game until you find someone who likes you.

    I noticed that everything becomes easier when you find people who truly like you for who you are. This is not only true with dating but for just about everything else, including sales. All of my best customers came from people who were truly interested in what I had to offer. Some of them did require a push on the back to help them make the leap, but they were interested.

    Related: 6 Tried and Tested Methods to Improve Your Sales Skills

    3. How to ask great questions

    One thing dating has taught me is how to ask great questions. Icebreaker questions are nice, but after going on 100+ dates within the past year, you start wanting deeper and more meaningful interactions.

    You want to understand people’s pasts and how it shaped them into the person they are today. You want to understand their thought process, how they handle conflict, etc. You slowly start appreciating the internal more than the external.

    To uncover the internal attributes, you must learn to ask great questions and become a good listener. All of my first dates are meaningful coffee shop dates where we get to learn about each other’s life stories. Some of the questions I love asking are:

    • Why did your last relationship end, what did you learn from it? How has it shaped you into the person you are today?

    • What are red/green flags you look for when dating?

    • What is your relationship like with your family?

    • What is your defining moment?

    • What are your dealbreakers?

    • How do you handle conflict?

    Learning to take time to understand someone and ask the right kinds of questions truly has helped me improve my sales skills exponentially. It allowed me to understand the customer’s pain point and provide them with the best solution that will fix their problem.

    Related: The 3 Most Important Skills in Sales

    As someone who had never dated previously, going on three dates a week for the past year has taught me so much. Not only did I build a lot of relationship-building skills, but I was also able to greatly improve my social and sales skills as a bonus.

    I don’t recommend going on three dates a week, though. It is exhausting emotionally and financially, but thankfully, I was able to learn a lot from it. What you should do is make an attempt to meet new people as often as you can. Doing so will teach you the importance of timing, help you understand and accept that not everyone is interested, and allow you to ask better questions as your sales skills improve.

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    Dejon Brooks

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