NewswireToday - /newswire/ -
Newcastle upon Tyne, Newcastle, United Kingdom, 2011/03/29 - Competitor Monitor represents a new trend that is emerging in ecommerce, competitor price monitoring, and those that are taking advantage of it are managing to dominate their industries, whilst their competitors are left guessing how.
Competitor Monitor is a new start up which has been born out of 8 years worth of knowledge and experience in the field of business intelligence. IntelligentEye was launched back in 2003, and with the success it had, CEO Adrian Teasdale decided to create a focused product specifically for managing ecommerce data. “Research over the years showed us that a lot of etailers were struggling to keep tabs on their competitors pricing, so we decided to create a solution for them,” said Adrian. Providing business in competitive ecommerce industries with a price monitoring solution, Competitor Monitor eliminates the need for mundane manual price checking.
February 2011 showed an increase on last in ecommerce sales for the fourth month in a row, highlighting the need to gain a competitive advantage in order to stay abreast. “Unfortunately not many people know that it is even possible to monitor competitors pricing,” said James,“so bringing about awareness is a big part of our marketing strategy.”
When developing the product, the team at Competitor Monitor made it their mission to stand out from the crowd. “There are a handful of existing companies offering competitor price monitoring at the moment, so we knew we needed to be different,” said James Mishreki, Head of Sales and Marketing. The Leonardo De Vinci quote ‘simplicity is the ultimate sophistication’ springs to mind. “We designed our software so that it is super easy to use, yet at the same time highly effective in providing clients with the information they need,” said James. “It couldn’t be simpler to get started either, just go to our site, type in your top 5 competitors, and the rest is up to us!”
Competitor Monitor certainly isn’t a one trick pony either. Users also get alerted to any changes to competitor’s product ranges, be that adding a new product or scrapping a whole line. This intelligence can then be acted on immediately. “Countless customers get in touch after their first week or so explaining how much the information is benefiting them,” said Adrian. “Even just knowing when a certain product is out of stock can go a long way.”
One great opportunity with Competitor Monitor (competitormonitor.com) is the ability to offer a lowest price guarantee. If you know you offer the best prices, then you have nothing to worry about in promoting it. Of course for businesses with hundreds of competitors this might be a bit tricky, but for the most part it holds true. Competitor Monitor themselves are in fact extremely confident when it comes to their own pricing. “One problem we identified through our research was that most existing companies are charging scandalous prices, and on top of that there is no transparency, it takes about 5 E:s just to get the price breakdown. We offer 3 packages catering for businesses of all sizes, and all the information is on our website for anyone to see,” said James.
Whilst it might still be in its early days, Competitor Monitor looks set to take the competitor price monitoring industry by storm. They offer a free 30 day trial and won’t take any payment details off you, so visit their site today at CompetitorMonitor.com to try out spying on your competitors.