What Is Price Monitoring?
Businesses that want to keep their competitive edge must stay on top of market pricing and respond proactively to pricing trends as they occur.
Price monitoring services do just that. They combine the latest software tools with data-mining and human insight. Clients receive regular reports on price changes along with market insights on which prices drive consumer behavior.
Companies can use the information they receive from price monitoring services to make informed decisions. Everyone in your company gets smarter as a result, from sales to management to marketing.
- When to schedule price reductions or sales events
- Who your main competitors are in terms of price and selection
- When to emphasize price and when to emphasize your other service offerings as a differentiator
- How to price items to maximize profits without eating into market share
- How to predict what your competition will do next with pricing
- Which customers are driven to your store by price
- Whether competitors are getting wholesale discounts from vendors and distributors
- The only problem with price monitoring is that many retailers do not have the time or money to conduct the research themselves. Fortunately, they can get price monitoring information without having to invest in software or employees using outsourced price monitoring services.
Price Monitoring Services Make Staying Competitive Easy
Real-time price monitoring can be a difficult but necessary task. Simplify your monitoring process while saving on labor by taking advantage of affordable, outsourced price monitoring services that adhere to a high standard of quality.
With services like Springbord price monitoring, there is no need to invest in software or reinvent your workflow trying to learn how to use it. Your business also does not have to entrust itself to programs that only reveal part of the picture.
Instead, you get the power of human minds using multiple tools that fit the situation.
Outsourcing price monitoring services means your retail brand gets up-to-date market research results handed to it on a silver platter.
With price monitoring services, you can receive:
- Real-time monitoring of specific competitors
- Quarterly, monthly or weekly pricing reports for your market
- Live alerts to major pricing changes
- Predictive analytics for possible upcoming pricing fluctuations
- Market research to help determine optimal pricing throughout product range
- Integration into your data workflow or preferred visualization/dashboard tool
- Agile, flexible contract and service terms to fit your needs in-the-moment
- Unparalleled dedication to quality and customer service
- Rigorous contractor screening to ensure only the best research practices
Dynamic, Real-Time Competition Price Monitoring from Springbord
Simplify your price monitoring process and get outsourced price monitoring services that adhere to a high standard of quality with Springbord.
Springbord gives you the full 360° perspective needed to set prices that are fair and reflect the current market.
Connect with top researchers who can fit their services to your exact needs. Customize your reports and have them delivered as often as you wish, including daily reports and alerts. Each report tells you exactly what you need to know to make decisions in a format that makes the most sense for you.
Receive only the most relevant price monitoring information using the latest tools and best research practices. Stop staring at your market through a periscope, and get a team of cartographers that can map it for you in detail. With our expert research teams, Springbord can make it happen.