If you’re very familiar with the core principles of building a good marketing strategy, then you certainly understand the importance of ‘price’. Pricing is an important factor that influences exactly how your customers perceive your goods. As a merchant, for you to increase your customer retention and achieve better sales, one important thing you need is a price tracker.
With a suitable price tracker, such as Glass It, you’ll get to monitor the prices of your goods regularly and also track their price history. This regular price monitoring process will help you get access to important information, which will help you better respond to market trends.
- What factors should you consider when picking a suitable price tracker for your goods?
- What exactly is the best price tracker today?
You’ll get all the answers you need regarding the above price tracker-related questions as you read on.
Factors to consider when selecting a good price tracker
1. Accurate collection of information regarding your products
One important factor worth considering when it comes to choosing a reliable price tracker is the tool’s ability to collect complete information regarding a specific product. Speaking of complete information, this doesn’t only mean getting the price data from a product page. Instead, it also means getting enough data regarding other hidden price reductions and promotions (basket & psychological).
The bottom line is that you should only choose a price tracker that can provide you with complete information regarding the price of your products. The best tool, such as Glass It Price Tracker, will provide you with information regarding the price from a product page and other hidden price reductions and promotions. With these factors, you’ll be able to decide competitive prices for your products.
2. Product coverage
Accurate data aside, a reliable price history tracking tool must be able to cover a wide range of products or services. So, when picking a reliable tool, ensure to check whether or not the price tracker can help you monitor prices for several different products that are relevant to your business.
3. How frequently can this tool deliver price updates?
This question is very important when looking for a reliable price tracker, such as Glass It. As a web app, ‘Glass It’ is designed to deliver a consistent daily update interval. This offering alone is enough for you to get real-time information (or something very close) regarding various price changes day to day.
A price tracker’s ability to deliver frequent price updates is important for both customers and merchants. Regular updates will help merchants decide competitive prices at the right time for their products. These updates will also help buyers make smart and timely purchasing decisions regarding a specific product or service.
4. Accurate price history data
Price tracking tools are typically not affiliated with the sources they monitor. So an important question to ask is can the price tracker provide you with accurate and reliable price history data? Historical data doesn’t only help sellers and buyers to understand how price volatility works. It also helps them better identify price patterns and make smart decisions about when to buy a specific product using trending marekt data.
5. User interface
Is the price tracker’s interface user-friendly? This question is very important if ‘ease of use’ is one of the factors you prioritize. Yes, a reliable price tracker must be user-friendly to help you navigate easily and effectively take advantage of its features.
Glass It Price Tracker provides 4 different ways to monitor prices for your items:
- Price watcher website – No installation required to check price history.
- Price tracker browser extension – Press a button to request price monitoring while browsing most online stores.
- Mobile application – Get price change and stock alerts on the go.
- eCommerce platform integrations for Shopify and WooCommerce merchants – to do bulk price and discount updates
6. Notifications
Does this tool offer various notification options after tracking the prices of your products? This factor is certainly important, as you need to be aware of all regular updates. The best price tracker should be able to provide you with browser extension alerts, email alerts, and mobile notifications.
