You might have already seen the news, but we’re ridiculously excited to launch our brand new Price Intelligence Tool to the market.
We built it to give you transparency on the pricing strategies of your competitors and pip them to the post time and time again. Over a staggering 80% of retail shoppers compare pricing online before buying, meaning competitor price tracking is a must, but let’s be honest noone wants the labour-intensive task to land on their list of to dos! Our tool makes restructuring your Google Shopping campaign a piece of cake through automation, helping to improve your overall shopping conversion rate!
We caught up with our Senior Paid Marketing Manager here at Ortus, Jess, to whizz us through the 4 key benefits of the tool for retailers!
Identify where you’re price competitive
Firstly, it sounds pretty obvious but shopping campaign performance really does depend on how competitively priced your products are. Our tool does the leg work for you, allowing you to identify the products that you ARE competitively priced in. This enables our team to be more aggressive with our targeting of these in Google Shopping.
Identify where you aren’t price competitive
In the same way, the tool also helps us to uncover the products that you’re NOT competitively priced in. This helps us to minimise wasted spend and give that budget to those products that you are competitively priced in.
Uncover your competitors strategies
Next, it helps gain transparency over what your competitors are doing outside of pricing with add ons/customer perks. Are they pipping you to the post on things like delivery costs (something particularly important to the post pandemic shopper)?
Automate your Google Shopping strategy
Finally this helps create a fully automated Google Shopping strategy! You don’t have to do lift a finger, it’s all updated using real time data!
If you’re not tracking your competitors, how do you know how your product pricing stacks up against theirs? You can take a closer look at the Price Intelligence Tool and access a demo here!