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Comparison shopping websites are so popular among consumers they have become the biggest websites in their industry. In this article, we look at how they impact businesses and what can be learnt from their business models.
Comparison websites including Google Shopping allow consumers to save time and money by helping them quickly get the deal and information about almost any product. But what can a typical small business owner learn from a price comparison website?
Review the below tips and see if you can apply any to your marketing strategy.
The Importance of Price
For many consumers looking for a certain product, price is the most important aspect.
Whilst you might not be able to offer the lowest price on the market, you can use comparison websites to check what others on the market are offering and ensuring that your pricing is at least competitive.
If you can closely match competition pricing then you will be in the running for customers business, allowing you to compete on other factors such as customer service and product quality.
Focus on Customer Service
Bigger, more established companies might lead the way with low prices, but their customer service can often be wanting.
Be sure to focus on delivery speed and cost, policies for refunds and the security of your website. Additionally, ensure that consumers have a quick way to contact you including a website contact form and online chat. For example, Manchester City football club offers live customer service via Twitter, which has gained awards.
Find the Standout Deals
Certain websites offer a low price on specific products with the understanding that they can make greater profits when customers purchase other products. Use a comparison website to find these deals and potentially introduce them to your strategy.
Example: Seat Compare often holds competitions or lowers the price for seats, including Manchester United tickets with the aim of getting new customers using their service.
Check the Details
Shoppers don't always choose the cheapest product; they often take into account all the extras, including shipping costs, the service promise and the reputation of the retailer, before committing to buy.
So it's worth checking out the details and not just comparing price tags - that's what your customers will be doing after all.
Identify Weaknesses
When performing competitor analysis, look for ways that you can stand out from the crowd.
Identify your strengths as well as the weaknesses of your competitors and aim to highlight them to your potential customers. Comparison websites give a good way of identifying a sector and ways in which to improve.
Act as a Buyer
When looking at your and your competitors' websites, try clicking through from the comparison site and follow the same process as an end-user would.
Investigate the strengths and weaknesses of each website with the aim of improving your own. Landing pages need to be designed in a way that offers a good user experience and allow for a quick purchase of products.
Be sure to test websites in both desktop and mobile format to see how well they work in each.
Comparison Sites: A Powerful Business Tool
Overall comparison websites allow businesses to focus on areas they are doing well and identify areas that can be improved. Whilst price for many consumers is the most important aspect, if these are similar, people will pay a slightly higher premium if they connect and feel trust with a certain website over another. Focus on customer service, delivery times, good navigation etc to see conversions increase.
Author Bio
Adam Beaumont is a Digital Marketer who specialises in the world of primary and secondary tickets, producing engaging content for online publications.