Pricing your products and services can be tricky without the right strategies. According to Chron, pricing strategy is how a business derives its optimal prices for its products. That is why many corporations invest in enterprise price monitoring; so they can make better pricing decisions to increase sales. If your business prices products or services too low, you may actually lose customers and clients, and generate less profit per customer. If you price too high, you may lose a lot of potential sales. Therefore, finding the best average price in your industry is a great strategy, while providing more value than your competitors. You can utilize an enterprise web scraper to gain data about your competitors, which we will discuss soon.
Enterprise price monitoring provides the tools and data to find the optimal pricing for your products or services, to stay competitive in the industry. With this knowledge, you can make informed decisions about how much to charge for each product or service that you offer. This way, you can increase profitability without cutting into customer value. You can use web scraping to optimize your enterprise data strategy and utilize it to make better pricing decisions.
In this blog, we will discuss competitive price monitoring software, how to do enterprise price monitoring with web scraping, and how ParseHub Plus gives you an advantage when it comes to price monitoring.
Competitive Price Monitoring Software
There are many tools available online that offer competitor price monitoring. They are usually cloud software that allows you to monitor and keep track of competitor pricing. Their prices can start at $100 dollars a month, and go up to custom enterprise rates. You can even do manual price monitoring, however, it’s not recommended compared to automated methods.
Should you use Price Monitoring Software?
If your corporation only needs pricing data, you can get away with solely investing in a price monitoring system. However, a business is only as valuable as its data and customers. With a free web scraper such as ParseHub, you can gather large amounts of competitor data and not only their prices. Another benefit of working with ParseHub Plus is you can scrape large amounts of financial data, legally.
Can you code our own Price Monitoring System?
Large businesses have more resources to put into software development. You can code your own price monitoring scripts, with languages such as Python, however, there are many downsides. Having a standalone tool that does your web scraping for you is a much more efficient way to conduct competitor price monitoring.
Price Monitoring with Web Scraping
Price monitoring is easy when using a web scraping tool such as ParseHub. You can schedule your scraping, for consistent and updated price data from your competitors and join the many corporations that use large-scale web scraping, some of which are ParseHub Plus clients.
We have many tutorials on web scraping from e-commerce websites:
- 2023 Guide: Scrape Data From Any Ecommerce Website
- How to web scrape a Shopify website in just a few minutes
- How to Scrape Amazon Product Data: Names, Pricing, ASIN, etc.
Web scraping is beneficial for automating your data harvesting requirements. By having consistent and live competitor prices, you will improve your enterprise market research and pricing strategies.
The ParseHub Plus Advantage
ParseHub Plus is the enterprise version of ParseHub. There are many benefits of working with ParseHub Plus for your enterprise price monitoring. When working with ParseHub Plus, you will have a dedicated web scraping manager, which will take care of all your big data needs. You can feed the scraped big data to your machine-learning applications and implement the best pricing strategy for your business.
ParseHub Plus also ensures all the web scraping is conducted ethically, and legally. Your dedicated manager will also create data verification scripts, which will test your scraped data for accuracy, before being used in applications or for analysis. There are many obstacles in enterprise web scraping, therefore working with a dedicated team is beneficial for all enterprise clients.
Are you ready to take your enterprise price monitoring and strategy to the next level? Book a free call with ParseHub Plus today, and get your free sample data export!