Competitor Pricing – who needs it ?
As a business it is crucial to understand what your competition is up to. Every day, new businesses start up and offer different advantages to your clients. Often times, they do so at a lower price point than you have ever considered. If you want to keep up with your competitor pricing it is crucial to understand what those pricing points are to begin with.
No other strategy is more important than your pricing strategy. If your prices are too high your clients will seek your services or products elsewhere, if they are too low you won’t be able to stay open or function as a business. However, many businesses underestimate the power of analyzing and following the trends of competitor pricing, and in so doing they lose out on the opportunities that it presents.
In addition, many businesses fail to keep up with competitor pricing simply because they are too busy to do so. Running ads and strategizing a marketing campaign for business can be extremely stressful which can lead to failure in other aspects of the business. Thankfully, there are now tools available that allow small businesses to keep up with competitor pricing without sacrificing their precious time. One such business that offers a competitor price monitor is iHarvest. iHarvest takes information from competitors and puts it into an easy-to-use and easy to read format for business owners.
Anyone who has ever run a business understands that analytics are vital to keeping a company fresh and up-to-date, and when it comes to pricing analytics are crucial. By providing real-time analytics through a competitor price monitor that alerts you whenever a competitor changes their pricing point, iHarvest keeps you up-to-date and helps you create the best business strategy possible.
Improve your business by using this low risk, simple strategy to keep up with the competition while continuing to offer quality product that you can earn substantial profit off of.
Save 100’s of hours manually inputting
How iHarvest can help with your competitor pricing ?
- Visualise your competitors “in stock” items multiplied by the price to get a stock evaluation.
- Get a complete list of all brands sold.
- Get a complete list of sections and sub sections of products.
- Analyse brand size proportions in a competitors catalogue.
- Compare brand size saturation with your own store.
- Look for products on offer and calculate the percentage of the price reduction.
- Monitor the competitive landscape.
- Have the insight to make fair and accurate price comparisons .
- Combine SKUs (Product Codes) to make like for like comparisons.
- Make better decisions for your business.