Online Retail Stores: What is a MAP Monitoring Service?
The basis of the success of any e-Commerce is to know how much a consumer is willing to pay for a product.
In online retail, your potential customer has more options to find an advantageous offer for himself, and the difference in one and a half dollars can be decisive.
It is very important not just to scare off the customer at a high price, but also not to appear cheap for him. Therefore, it is necessary and very important not only to know the prices of competitors but to obtain accurate information on them in real-time.
For small and medium-sized businesses the optimal solution is to get a perfect service like Map Monitoring.
What is it? This is a service company that helps brands to monitor and enforce their minimum advertised price (MAP) policies.
How to successfully run your online retail store?
Today, all the companies involved in the online retail landscape know that in order to run a successful business online, it is necessary that your site is found by your potential customer.
You need good quality traffic. Traffic can be attracted in various ways, the most popular and effective are search engine promotion (SEO), contextual advertising, price comparison sites, etc. Today, there are many different agencies and traffic generating services promising you great results very quickly.
There are plenty of paid and free courses on Internet marketing, SEO, and contextual advertising. All that, of course, is good, but, that never can promise, that you will get good quality traffic and no guarantee that you will boost your online sales right away.
. In fact, even if you with the help of SEO or contextual advertising managed to get to the first positions in search returns, don’t think that your customers will buy your products without checking the price elsewhere.
No matter how many different e-commerce specialists will tell you that the factor of price is not the major, it is not true. Especially this is not true for a new unknown online store, whose client base counts zero.
In some sales categories (for example, a computer or mobile equipment) the competition among online stores is so high that, in fact, the entire sales process is reduced to maneuvering between the lowest price on the Internet and the minimum allowable earnings on the product.
I know by my own experience that if today your price for a certain product has become at least $5 higher than your competitors, and you do not offer any additional value and offer to the customer (free delivery to clients door in two hours, accessories in other free gifts, etc.), then the number of sales of this particular product gradually begins to tend to zero. In this case, all your advertising activities turn into trash and not necessarily will
In this case, all your advertising activities turn into the trash and not necessarily will improve your business presence online. Those are the nowadays “game rules” in the online retail landscape. All that because your client can always reach a better online offer just within a few clicks.
Those are the nowadays “game rules” in the online retail landscape.
All that because your client can always reach a better online offer just within a few clicks. This is one of the cons of running an online store but there are pros as well.
There is an option for your business with lots of pros this is a service company that helps brands to monitoring and enforce their minimum advertised price (MAP) policies.
Some online retail stores need the online tools of Map Monitoring offering you to implement a unique level of expertise and insight into your online retail store.
The easy-to-use online dashboard allows you to keep your pricing under control while you pilot your brand to success, definitely check it up!