Collecting online sales data gives manufacturers a chance to verify and optimize their sales processes. Helping to understand market dynamics and consumer trends in a more comprehensive way, it can simplify making tough business decisions and identify strengths and weaknesses when preparing for expansion.
Why is sales and price monitoring vital?
Why is sales and price monitoring vital? Looking at the changing environments on the ecommerce market today, price monitoring and management have become two pillars of competitive advantage. Another key element in strengthening your business over your competition is tightening the distribution channels by identifying unauthorized sellers, which further enhances brand’s reputation.
Additionally, monitoring prices from your competitors against your own, paired with comparative breakdowns, allows for a real time reaction preventing price fluctuation. Having such systems in place contributes to delivering consistent revenue and, in effect, increases the trust factor from customers.
In essence, building your position on the market starts from introducing benchmarking strategies described above and formulating a coherent pricing policy.
Sales results and price monitoring tools
One of the tools that support comprehensive sales monitoring is the Where To Buy widget from 100Shoppers. The widget swiftly directs the user from the manufacturer’s website to a selected online store from a list of authorized distributors. One of the most practical functionalities embedded in the widget is its analytical framework, available in the form of reports.
The reports make it easy to follow:
- price compatibility across the stores with established pricing strategy,
- deviations from recommended price,
- price distribution over time.
This data is especially useful for manufacturers in mitigating potential price wars, when shops knock the prices down to overcome the competition. The reports show exactly when and where price cutting begins, which can give manufacturers a chance to intervene at the right moment.
Traffic and sales insights on brand’s website
Data about all redirected traffic volume available through the Where To Buy widget can be analyzed in relation to particular online retailers, product groups or individual goods. The same is possible when it comes to sales, product availability and price distribution on specific items.
It’s important to note that the solution offered by 100Shoppers comes with a separate sales management panel for the distributors, where they can closely monitor the real time performance of goods from a particular manufacturer.
At 100Shoppers, we know how important seamless cooperation towards a better performance is, and we want our tool to reflect the partnership between retailers and manufacturers towards enhanced customer satisfaction and increased profit.
In conclusion
In the long run, price and sales monitoring is beneficial to both manufacturers and distributors as it supports strategic planning, policy verification and process optimization.
Modern data collecting tools like 100Shoppers’ Where To Buy plugin both expand manufacturer’s reach and protect their interests. Namely, thanks to such solutions, distributing products via the non-native off- and online distribution network is not synonymous with losing control over product prices or sales data, but means increased insight into the performance of your goods with a global customer base.
