As an entrepreneur, you know how important it is to monitor product prices in the market in which you operate. Not only does this enable you to keep your product prices competitive, but it also allows you to better understand your place in the market and have the opportunity to increase your profits. Dealavo is a tool that offers full product price monitoring and a dynamic price adjustment function (repricing), which allows you to optimize your business and increase the return on investment in product advertising.
What are the benefits of price monitoring and repricing?
Dealavo offers a wide range of features and benefits for your business. The company reports its customers’ results as a result of using repricing and price monitoring:
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increasing profits by up to 50% thanks to product price optimization,
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the average increase in ROAS (Return on Advertising Investment) in Google Ads was 89%, which is a significant improvement in advertising effectiveness.
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for those who monitor 1,000 product prices on 5 websites, the Dealavo tool allows you to save 1,250 hours per month.
The Dealavo panel. Source: www.dealavo.com
How does repricing work?
Dealavo is an online product price monitoring tool that provides real-time data on prices, product availability, and product rankings. One of its main functions is dynamic price change, also known as repricing. When you change prices to adapt to competition or market changes, you can use repricing to do it automatically or based on rules you set. Thanks to this, you gain competitiveness and increase your chances of selling.
Repricing process, source: https://dealavo.com/en/dynamic-pricing-products
At Dealavo you will find, among others, the following pricing rules:
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Between two competitors– the rule allows you to automatically set prices between selected competitors.
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Below/above selected values – an option that offers the option of setting a target margin with an amount or percentage markup (e.g. the set product price should include at least a 5% margin).
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Below/above selected competitors – if we use this rule, the algorithm will generate prices lower or higher than selected competitors.
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Decrease/increase by a specific amount/percentage– This setting allows you to reduce prices by a specific amount or percentage during a given time frame. This means that, for example, every 3 days the price of the product is reduced by PLN 1.
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By cost– the “cost plus” principle.
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Based on market position – when using this setting, product prices are based on the market position of the competition. In the settings, you can, for example, assume that prices should be higher than those offered by the cheapest competitors.
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Low stock – Option useful for end-of-series and sales; causes automatic price reduction until low stock levels are achieved.
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Profit optimization – use of artificial intelligence – a rule that deserves special attention. This is an artificial intelligence (AI) pricing optimization mandate. The algorithm learns from the source of collected data and optimally adjusts prices to market conditions.
What is price monitoring?
Dealavo provides its users with an effective tool for conducting market and competition analysis. All data is collected in one place, enabling quick decisions on price optimization, offer adjustments and selection of the best sales channels. One of the most important benefits that Dealavo offers is the automation of the entire process, which allows users to save time and increase their income.
Dealavo operating principles, source: https://dealavo.com/en/price-monitoring
An additional benefit that Dealavo offers is the ability to detect price wars through intelligent alarms. It often happens that competitors try to compete in the market by lowering their prices to gain an advantage. Thanks to the Dealavo tool, you will be able to monitor the situation and quickly make decisions to change your prices to stay competitive in the market.
When it comes to product advertising, Dealavo also offers many benefits. Using dynamic prices (repricing) in an appropriate way allows for a higher conversion rate and, as a result, a greater return on investment in advertising (ROAS).
Watch the case study of Dealavo and Adrenaline.pl:
Summary
Dealavo is a tool that will help you increase your profits and improve the return on investment in product advertising. Dealavo is a tool that ensures effective automation of processes related to price monitoring and offer optimization. Thanks to it, entrepreneurs can save time and increase their profits by adapting their offer to the market situation and customer needs. Repricing allows you to gain competitiveness, and the intuitive user interface allows you to easily compare prices and select the best sales channels. Dealavo is the perfect tool for companies that want to succeed on the Internet.
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