Competitoor is the price intelligence online software that includes the marketing automation.
What is Marketing automation?
Marketing automation includes all the tools that can perform those automatic recursive activities relatated to the customer acquisition process. In the online territory, this process means ending actions, buy, view or download content.
Marketing automation has ancient origins. Already in 1986 with the first CRMs, it was possible to get automated some of the internal processes in order to transform data into opportunities for marketing departments. It is with the Web, however, which was born in 1991 and has evolved extremely rapidly also in the commercial sector, that marketing automation has gained importance. Every single action on the Web is measurable, and from the measurement of the data you get important information about what to do to achieve your goals.
Data analyzed by Competitoor are automatically collected and they represent important indicators for you to optimize your web marketing activities and improve your online sales performances.
Pro of the Competitoor's Marketing automation process
Thanks to Competitoor, you are able to work on different fronts and get measurable benefits at all points in your business workflow, because with Competitoor you're optimizing your pricing, and you're always on the go with the right price on each product catalog:
Prices are the first indicator of choice
Prices are numbers and numbers are easy to manipulate and compare. 8 people out of 10 in 2017 compared prices on 4 different websites . In a business where products are easily comparable and customer services are usually all the same, the price becomes the only indicator able to convert a simple user to customer.
Prices often vary. Amazon, which holds 20% of the B2C market, uses algorithms that are able to modify prices several times a day in order to remain competitive over time. The manual variation of prices is no longer possible because to get the right price, you need to combine different information from the internal metric analysis (such as sales, conversion rate) and others coming from outside, like the time of year, the prices of competitors.
With the right price you will increase your sales
It is not the lowest price that sells more, but the right one. Within the price of a product or service, different items of expenditure are added that must necessarily be covered by the sale, more obviously the desired margin. Keeping prices very low makes your products attractive, but you end up with not having the economic strength to promote your business. You will probably be perceived also as an economically viable site that will not be able to provide proper after sales assistance. On the contrary, a price too high, characterizes the site as "expensive" and also influences price perception of other products or services sold.
With the right price you will increase your profit margins
A fair price, determined automatically with Competitoor, is a price that changes over time. Take advantage of the curves that are generated during the year and maximize the relationship between conversions and margins. The fair price allows you to position your business properly against competitors, to protect it against them.
The fair price increase the ROI of your ADV campaigns
eCommerce visitors come from different channels: organic searches on search engines, social networks, newsletters and above all from advertising. Each of these sources of traffic has a business cost. The right price, automatically built by Competitoor, takes these costs into account and moves within thresholds that allow the store manager or marketing department to build AD campaigns and sustainable promotional activities.
The right price improve will the feedback and the fidelity
One of the worst things able to get a customer very unsatisfied is when they notice that they spent too much for that item. Today, the Web is mainly used as info-commerce, or so to say as a support to search and compare offers.
Purchasing online and then finding a few days later the same product on other sites at lower prices, will damage your image that is hardly measurable and therefore impossible to correct. On the other hand, if the customer is convinced he has made a deal, he will evolve and become a witness able to persuade his contacts to become potential customers. In marketing automation, this loyalty activity is one of the most important goals to achieve.
4ECOM: the marketing automation event
Competitoor promotes marketing automation and pushes the connection between its data with other tools and companies. Every year we are protagonists of the 4ECOM event in Milan, with industry experts attendee, whether they are store managers, managers and web agencies, the latest news and the opportunities of the Web.
This year the 4ECOM took place in Milan's Talent Garden having among organizers Transactionale, Quaplà and Cippest.