Pavel Shulga
Content:
- Why price monitoring is needed
- How to monitor competitors' prices on their own
- TOP 4 services for tracking prices in online stores
- Conclusions
The meaning and objectives of price monitoring of competitors
Price is one of the most important factors affecting choice when buying. It is always or almost always taken into account, being determined with the seller, along with the characteristics of the products and the benefits that the company is ready to offer. The price indicator acquired such a noticeable role, first of all, due to the convenience of comparison. Comparing value is easier than parameters of similar products or the benefits of working with different suppliers selling the same product.
It is not enough to know the lowest cost of production and try to set even lower ones. Not always the lowest figure is associated with the best offer among the consumer.
The reason for this may be:
- doubts about the integrity of the seller;
- questions regarding the relevance of the proposal;
- fear of being mean, which pays twice.
The “right” value is able to remove the objections of a potential client. It helps make the offer more attractive and interesting. One of the important parameters of a reasonable price is its size compared to competitive offers. Thus, the analysis of price monitoring turns into an effective marketing tool that can attract the attention of the target audience.
How to monitor competitors' prices on their own
1. Manual check
The "Grandfather" way, the basis of which is study of search results with a request in the form of "[product] buy". The technique of execution is understandable, but imperfect.
Among the pluses, only one can be distinguished - such a check is completely free.
Minuses:
- large time costs;
- inconvenience;
- low information content: the current value indicator does not allow us to evaluate the dynamics, build planning, etc.
Below we consider how it is possible to analyze the prices of competitors without temporary losses and with the ability to get a much larger information base for research and planning.
2. Price Monitoring Services
Automatic price monitoring has a number of advantages over manual checking:
- time saving;
- data accuracy;
- completeness and diversity of information;
- instantaneous formation of reports by various parameters.
Main advantages compared to contacting analytical and marketing companies can be called:
- usually lower costs;
- quick reporting;
- the continuity of the analysis process;
- independence from the service provider, that is, the ability to conduct research on their own.
Consider the features of the popular and most functional price monitoring services.
TOP 4 services for tracking prices in online stores
All rival
One of the most affordable online monitoring services with a budget tariff grid. Companies with a small assortment can use the main tools with some limitations for free.
Functional All Rival:
- automatic comparison of product range;
- price parking for 6 previous months;
- demonstration of cost dynamics in a graphical format;
- revaluation of goods based on formulas that take into account data on offers of competitors;
- setting the frequency of checks;
- notifications via telegram chat.
The All Rival extension for Google Chrome allows you to see the price ratio on a competitor’s website with your own offer.
The disadvantages of the service include the need independently indicate the sources of information for analysis - competitor sites, database links, lists of analyzed goods.
uXprice
Specialized site for monitoring and analyzing prices for retailers. Due to its simplicity, convenient tariff grid and useful information, it will be useful to the owner or marketer of almost any online store.
Service knows how:
- generate information in accordance with the selected schedule;
- collect data in 36 countries;
- form a comparative analysis of commodity prices (up to 100 competitors);
- analyze price indicators in dynamics;
- compare similar products in auto mode;
- perform API integration with the user's website;
- offer the optimal cost based on the collected data.
An important advantage of uXpreice is 100 % -th accuracy of the data provided. Actual prices are formed on the basis of various bases, lends, price lists, directories, and not just from company sites.
It usually takes no more than 5 minutes to complete the settings. This process is simple and understandable even to an experienced user. To receive information about the price situation, just enter a link to the analyzed product.
Tariffs tied to the quantity of goodsin, that need to be analyzed. New users can free to test the service for 14 days.
Priceva
At the heart of the Priceva information base are data on the value of goods, availability and storage balances. Monitoring affects several tens of thousands of sites (currently 25,000) from 20 countries.
User Services Line Includes:
- pricing in automatic mode depending on the data of competitors and using effective pricing formulas;
- analysis of current promotional offers and the dynamics of changes in the value of goods of online stores;
- monitoring of regional prices;
- checking the availability of products.
For convenience, information is provided in the form of graphs or tables. Possible unloading in Excel tables.
When registering need to enter company details, site, sales market, goods sold and other parameters. With their help, the service can offer a deeper analysis of the situation.
The tariff grid is very diverse and depends on many indicators of opportunity. As testing Priceva or for companies with a small assortment of online price monitoring can be held free of charge.
Competera
This effective pricing tool allows you to automatically form the optimal commercial offer for each day.
The service does not just monitor prices. Competera takes into account how the brand is perceived on the market, the expectations and individual characteristics of the target audience. On their basis, the recommended pricing policy proposed by the company is formed.
This platform is capable of performing the following functions.:
- audit of existing pricing policies;
- daily reporting;
- creation of a pricing policy management project to achieve the goals set.
The program uses various formulas, taking into account the market situation, the level of demand and the cost offered by competitors.
A separate chip of Competera is Designed for Google Chrome extension. It demonstrates comparative and general analytical information about the offers on the Web for the products of the site being viewed.
The tariff grid is individually built and available after filling out the pre-registration form.
Conclusions
The pricing process requires the consideration of competitors' offers. Program monitoring of prices on the Internet allows you to not only simplify and speed up the check. Automated online services are able to provide maximum information about goods and their value, track the dynamics and create a truly effective strategy.
How do you track competition pricing?
P.S. Cost, although important, is far from the only factor affecting sales. First of all, users should easily find your site and quickly navigate it. A course "Search engine" will allow you to achieve this as quickly as possible. Already in the learning process, you can significantly improve your position in search engines, behavioral factors and conversion percentage. Join the link above and with the SEO-blog promotional code a pleasant bonus will await you.
