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Top 3 Price Monitoring Challenges

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Today, the world is highly commoditized and new products are being launched each day. Every business wants to get noticed not only for their products but also for their pricing. Besides, more and more customers have increased price awareness.

Hence, if you want to experience consistent growth in the e-commerce market, you need to focus on the continuous adaptation of your prices. This means that you need to keep an eye on your competitors so you can make the right pricing decisions.

Price monitoring is basically studying the competition to know which pricing decision to make that will make you stand out. Nevertheless, price monitoring has its downfalls.

Why is Price Monitoring Important?

Having a price monitoring strategy in place can give you a competitive advantage and help you meet your business goals. It can help you know competitors that are similarly positioned and those that are differently positioned in terms of pricing. Strategic price monitors are also helpful for identifying your most important competitors and give you insight into their competitive behavior in the marketplace.

Effectual price monitoring in the e-commerce space can be done using tools like web crawlers and web scrapers. When employed correctly, these tools can help you acquire accurate and relevant pricing information so you can set prices for your products that will make you stand out.

Challenges of Price Monitoring

Most of the challenges with price monitoring are posed by accessing and matching data. Some of these challenges include:

1. Scalability

One way that a business can get competitive is by observing the marketplace prices. Price monitoring is a powerful tool that needs to take place hourly, weekly, or on a monthly basis. Frequent price monitoring will give you fresh and relevant data so you can gain maximum advantage.

However, the world of e-commerce is highly dynamic and is subjected to change in different seasons. For instance, the pricing during sale peak may not be the same during off-peak. Most businesses constantly change their pricing in a bid to stay competitive and be updated with the changes.

Therefore, it can be a challenge to acquire accurate pricing information. This is especially true you’re your company needs updated information in order to make informed decisions.

Nevertheless, the scalability issue can be solved by building a customized solution that can help you build exactly what you need. To ensure this, work with a proxy that lets you adjust the scale of scraping by describing the data, the matching algorithms for the product, and the frequency.

By building customized solutions that are highly accurate and flexible, you will be able to collect relevant pricing information to meet your needs.

2. Differences in Website Layouts

Usually, some e-commerce companies have website layouts that differ from one page to another. This makes it difficult to effectively employ price monitoring strategies. Also, some competitors store their pricing information in different product pages or some of their products can go out of stock. 

This can lead to missing or inaccurate data when collecting data. If dropping such competitors is not an option, then you need to find a solution that will help you gather accurate data irrespective of the website layouts. You may also encounter issues during the matching of crawled data because the prices may vary for different products.

In such cases, you may need to develop parsers for each page that you want to retrieve data from. Nonetheless, this solution may not be very effective if the websites that you are targeting keep changing their layouts.

Thus, it is crucial to use a real-time crawler that includes an e-commerce parser. A good web crawler will gather pricing information on different pages using parsers that don’t require frequent maintenance on your part. Additionally, there are proxies that can help you collect the pricing data notwithstanding the website design.

3. Geo-Location

The acquisition of data from websites in different geographical locations is another challenge. If your competitor is from a different location, accessing pricing and product information from their websites may be as easy as acquiring information from a company in the same location.

Besides, some websites have restrictions that make it difficult to access their information if you are out of a certain geographical location. This is where proxies come in handy. Proxies can bypass geographical blocks and give you access to websites all over the globe regardless of your IP address.

Conclusion

Over the years, the world of e-commerce has experienced a great transformation from manual competitor monitoring to automated price monitoring. Technology like crawlers has made it possible to get reliable data from websites throughout the world.

However, as we have seen above, there are challenges associated with the automated process. To overcome these challenges, you need to invest in the right proxy. The best UK proxy will let you perform web scraping and web crawling to effectively monitor and track prices. Follow the link here to get more information about the UK proxy.

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E-Commerce

How Can Video Marketing Help Your Website Conversion Rate

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Video content is one of the most famous types of content today. However, there are still not many businesses that can make good use of this content. Product photos are essential, but pictures alone will not be enough to boost your website conversion rate.

Video content, especially video marketing, can tremendously increase conversions and help your potential customers understand your product better. According to research, 64% of website visitors are more likely to purchase after watching a video.

If you want to take your business to a higher level and compete with your competitors, try to harness the potential of video marketing in your marketing strategy. It will be very profitable for your business now and in the future.

Here are five things you need to know about video marketing and how it can help to increase your website conversion rate.

1. Videos Help Your Customers to Understand Better

Video content used for brand marketing will better understand your business product or service. Not only about its features, benefits, or advantages, but also about how to use it properly.

So, make informative marketing videos to attract customers’ attention faster. In addition, more informative video content will also make search engine search results prioritize your website pages. That way, you can increase the website conversion rate significantly.

You can create informative video content like tips for using the product or information becoming a trend. Several types of video marketing are popular these days, such as explainer videos, product videos, how-to videos, etc.

2. Video Keeps People on Your Site Longer

Interestingly, Google’s algorithm favors video content websites because it can get more visitors to glance at your website pages. It means that a larger audience will engage with your link.

According to research, internet users can spend 88% more time on websites that contain videos. Thus, you must present excellent and exciting content supported by video marketing on your website page, so the audience feels comfortable lingering on your website page.

You can start with creating video content for marketing purposes and put it on your website landing page. That way, your visitors will stay longer, and your site will be more likely to get into a higher rank.

3. Google Cares About Videos

Search engines, such as Google, prefer video content. That’s why video content can be one of the most effective ways to help your website conversion rate. You can create video marketing and link to your business website to get higher search engine rankings.

In addition, videos on your website pages also make your website visitors stay longer. It can make Google rate your website as a credible and good website.

Thus, If you want to get a higher rank in search engines and drive website conversion rates, create video content for marketing purposes.

4. Videos Influence Purchasing Decisions

Video marketing can also influence purchasing decisions. It is a huge opportunity for your business to increase conversion sales while also getting more profits.

From e-commerce to even blockchain games companies, video marketing has proven to be an effective way to encourage audiences to purchase your products or services. According to research, 90% of customers say product videos help them make purchasing decisions.

Not only will it help your business get flooded with orders, but video marketing will also give audiences a better understanding of how your business’s products or services are being used.

5. Gain Social Shares

Marketing videos can encourage the audience who watches them to share content with other audiences. As you know, the current digital era provides a very wide space for viral content.

So, when your business uses video marketing, you will have great potential to get audiences’ attention because most mobile video consumers will be more likely to share the videos they watch with their relatives.

It is a massive advantage for any business to use video marketing as one of their marketing strategies. Not only will your videos be easy to share, but people will widely know your products and brands. The more people who know your business, the greater your chances of earning big profits.

Takeaway

Video marketing is a creative strategy needed to increase sales and conversion rates in today’s digital business world. Although it will take a lot of energy and time, it will be worth it to bring your business success in the future.

Suppose your business has not or is struggling with using video marketing in your digital marketing strategy. In that case, the five things I mentioned above will give you an idea of how important video marketing is for your business.

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E-Commerce

How to Outsource Website Development in 2022

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Thanks to technology, more and more companies are moving to online platforms. It opens the door for the organization to the international market and expands the boundaries. Good promotion on the Internet requires a good website or application that can be convenient for both managers and clients.

Therefore, in matters of website development, it is worth resorting to outsourcing.

Outsourcing is an indispensable thing for the development of any business. This option gives the organization a chance to focus on the things that really matter without wasting time.

Let’s name and consider the main advantages of outsourcing:

  • cost savings
  • time savings
  • focus on key aspects
  • flexibility
  • reduce risks
  • safety
  • support

Cost Savings

Significant budget savings are the result of outsourcing. When you hire an outsourcing team, you spend much less money than when you hire your own team.

Time savings

You will save your time if a team of specialists works on the development of the site. Professionals create a good project, while you are turning your attention to other aspects of development.

Focus on key aspects

You will receive the opportunity to calmly review and improve other business processes. Moreover, you will not be distracted by issues that are not in your priority.

Flexibility

To be sure that your project is multifunctional you should choose outsourcing. The majority of specialists use appropriate sources for making the software of the websites as flexible as possible.

Reduce risks

By assembling your development team, you not only waste time and money, but also miss the opportunity to work with professionals who specialize in creating individual projects.  Outsourcing – eliminates possible stress.

Safety

Non-disclosure of information is a guarantee of the security of your data. You can be sure that by choosing good outsourcing companies, your project will be protected.

Support

Experienced outsourcing companies are interested in long-term relationships with the customer. They take responsibility for the technical creation and launch of the project.

Why should you choose to outsource web development among the options?

There are three options for creating and developing a site:

  1. In-house team
  2. Outstaffing
  3. Outsourcing

If the customer wants to hire his own website development team (in-house team), he must be prepared that sometimes the team is not enough to launch the project.

Then the customer has to turn to outstaffing – to individual IT workers. It can reduce the level of communication and increase costs.

If the customer chooses to outsource, this process will include all stages of project creation.

How to find a good outsourcing team?

Outsourcing affects the speed of bringing the site to the market, and also gives you the opportunity to choose between many professionals. 

Here are some steps for you to understand which company is the best choice:

  • identify the goal

It is real to find a good developer team only if you know what result you want to achieve.

  • understand your request

By clarifying the requirements it will be easier to understand if the team suits you.

  • calculate the budget

Understanding what your budget boundaries immediately makes the research easier.

  • choose the model of the creation a site

Is it an in-house team, outstaffing or outsourcing?

  • discover reputation

Check information about a particular company on the websites; make a personal communication.

  • find team which has already achieved success in your field

Select specialists who already have experience in your field to be sure of the quality of the product.

  • prepare questions

To avoid misunderstandings, prepare a list of questions you want to be answered.

  • sign a contract

Write down all the necessary details of cooperation: from budget to security.

Final Words

To develop and improve your business, it is worth using advanced technologies that will make the company competitive. Successful cooperation with an outsourcing company will provide a unique project that will be convenient for both you and your clients.

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6 Reasons to Use Video Email Solutions in Your Sales Strategies

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Email marketing remains a popular sales tool. Most marketers use the platform to send targeted email assets to up their chances of converting leads into sales.

However, as the competition in your industry heats up, you may need to enhance your email marketing strategy with a video email. Several brands have already started using the technology to improve conversions and win customers.

If you are still unsure about the effectiveness of video emails, here are six reasons to encourage you to start using them in your digital marketing campaigns.

1. Easy Engagement with Mobile Users

Mobile traffic now accounts for 60 percent or more of web traffic, so marketers cannot ignore mobile responsiveness when planning their email campaigns. If your emails look messy on mobile devices, users will not engage with them.

If you regularly send out the message of a sale, a promotion, or other sales assets to your customers via email, then you should consider adding video to your campaigns.

When subscribers open the message on their smartphones, they can immediately see what it is all about without clicking any buttons because video auto-plays on their devices.

It will help you increase the engagement rate, which will lead to more conversions. Not only that, your subscribers can quickly identify with your brand message and remember who you are when it is time for them to make a purchase decision.

2. Boosts Brand Engagement

Video emails also encourage customers to engage more with your brand. They are not only more likely to click on a video email, but they will also spend more time watching the message and interacting with it.

What’s more, you can add a lead generation form to the video so that users have another call-to-action option once they finish watching it. The last thing you want to do is annoy them by pushing sales messages too much.

Instead, use the call-to-action at the end of your video to encourage viewers to sign up for your email newsletters or seek more information about your brand.

3. Lowers Costs Per Lead

An additional benefit of using a video email is significantly lowering your cost per lead. Since video content is engaging, users will want to click through and watch the entire message.

With this feature, your open rates and CTRs should increase, which will help you target a bigger audience at a lower cost. It means that every dollar you invest in this type of marketing will bring more conversions than using other forms of sales channels.

4. Leverages Social Media Marketing

Making your video email marketing viral can be an effective way to get more clicks for your brand because people enjoy sharing exciting content online. The best part is that you do not have to spend hours or days trying to get the message out there yourself.

Just create great videos and share them on all your social media profiles, and people will do the rest for you.

5. Boosts Your Brand’s Credibility

In your email marketing campaigns, video content offers a more personal feel that can help build trust with subscribers. Videos capture attention better than words because they provide real-time visual information to users.

According to statistics, 48 percent of customers want videos to reflect the specific products and services they own or are interested in.

With the use of product demonstrations, testimonials, and other helpful information for your preferred audience, you can remarkably increase the effectiveness of your email marketing campaigns.

When customers have a positive experience, they are likely to associate this feeling with your brand. As a result, they will keep more faith in you and be more receptive to sales messages in the future.

6. Easy to Produce

Video emails are not time-consuming or expensive to create. You can quickly turn it into a video with just your smartphone based on your content type.

What’s more, the money you spend creating product demonstration videos for emails will pay off in spades because it can also be used online and on social media channels.

Conclusion

Video emails content can help you boost engagement, improve brand loyalty and generate more leads. Plus, it makes your marketing more interesting for online users who may not be ready to buy yet but want to learn more about your brand.

When done right, video email solutions offer an effective way to increase conversions while strengthening customer relationships at the same time.

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