May 3, 2012

What Is Automated Price Update?

SourceSecure Pty Ltd. are proud to launch a new service that keeps you competitive, up to date and profitable while maintaining minimum margins.

The service has a powerful web engine which scans the price comparison websites (and even your competitors’!) on an daily or hourly basis and is able to update your prices automatically without you never having to do anything.

This technology used to scout the Internet is in-house proprietary and not available anywhere else in the world.

This service is already being sold in other countries and the feedback and reviews are simply magical.

This is the edge you were looking for in the online landscape. 

It requires no infrastructure or expensive servers, setup is completely free and the only costs associated with the service is a monthly fee. There is no training required nor any extra staff and the best part – no lock in contracts. We believe this service is so unique that we will give you 2 weeks to try it for free.

We can make sure you stay competitive against any of the popular sources on the Internet:

Let us explain a bit more:

How do you update your prices today? How do you stay on top of price comparison websites? More and more e-commerce websites today have more than 2000 products…

This is not an easy task.

Large number of products and limited resources prevent many business owners like yourself from updating prices on a regular basis and by the time you update the last product, the first one is already out of date and someone out there is selling it cheaper or worse, you are selling it too cheap.

Often you could be missing a prime spot on the price comparison website by as little as $1.

We would like to give you 3 of the most common scenarios in the price comparison space that we have seen and how this service will help you overcome those challenges.

1. Price of a product is too low:

– As an example, you have a product that has a cost price of $1000 and with your standard margin (of let’s say 10%) you are advertising the product for $1100.

– Your competitors have the same product listed in a range of $1300 – $1600.

– The question is, why would you sell the product for $1100 when you are just as likely to sell it for $1299 since you will still be the cheapest.

– This is what our service does, it will update your price automatically to $1299 in the above example.

– If your competitor sees this and decides to drop the price to $1200, the service will automatically adjust the price to $1199, making sure you are in the best possible position everysingle time.

 2. Price of a product is too high:

– As an example, you have a product that has a cost price of $1000 and with your standard margin (of let’s say 10%) you are advertising the product for $1500.

– Your competitors have the same product listed in a range of $1300 – $1600.

– In this scenario, you are losing potential customers because the price is too high. If you adjust the price to $1299 you will sell a larger amount of that item while still reaching the very desired profit.

– Our service will update your price automatically  to $1299 in the above example.

– As before, if your competitor raises the price to $1400, the service will automatically adjust the price to $1399.

3. It is too hard to compete with your competitors (this is the most common scenario that we see in the online space)

– Two of your competitors are advertising a product for $900 – $1000 which has a cost price of $1000 and potentially losing money.

– This usually happens in a number of scenarios: A shop is trying to get rid of excess stock, running a sale or advertising an out-of-stock item to attract customers to other products.

– Other shops (like yourself) are still selling the product in the range of $1300 – $1600.

– Customers will usually start from the cheapest and work their way up the list as they are trying to find the cheapest place that actually stocks the item they are looking for.

– The service will recognize a preset margin of 10% (which can be changed and updated) and will not adjust the price below $1100.

– However it will still maintain logic and will not change the price to $1100; it will adjust it just under your closest competitor to $1299.

Because of the nature of this service we can only offer it to one business per vertical and the monthly fee is charged per vertical so hurry up and give as call or contact us.

For More information, please read the Service Brief or contact us here.