Dealavo – A Tool for Automating and Optimizing Price Monitoring

Without a doubt, competition in the e-commerce market is growing every year. Companies must acquire customers in various ways, including, above all, providing good quality products at an attractive price. 

Nowadays, e-commerce comparisons such as monitoring competitors’ prices and adjusting your prices accordingly are essential. At this stage, Dealavo comes in – a tool for automating and optimizing price monitoring, which allows for effective product price management. 

In today’s post, we will discuss how Dealavo works and how it can help your business.

What is the Dealavo tool?

Dealavo offers a tool that allows you to automatically monitor your competitors’ prices. Our technology is based on Machine Learning processes, and the results are complemented and verified by our Quality Assurance team. 

Thanks to this, we guarantee that the data provided by our platform is of the highest quality. 

Dealavo also offers Dynamic Pricing functions, which allow you to automatically change prices depending on the configured rules.

Dealavo operating principles, source: https://dealavo.com/en/price-monitoring

We offer up to 99% SLA to the most demanding customers, which means that we can guarantee the highest quality of services provided. Once your account is ready, we perform regular quality checks to ensure the accuracy of the data provided. 

In addition, each client has his or her account manager who helps answer current inquiries and ensures that Dealavo is optimally used for the client’s purposes.

Do You Know?
46% of online shoppers appreciate and started investing in e-commerce stores that recreate product comparisons including prices. 

Our team is always open to sharing their knowledge. We organize training for new users of the platform and assist at any time. The most important thing that distinguishes our team is the quick response time. 

We try to respond to customer inquiries as quickly as possible and implement their suggested changes as early as possible.

What is Dynamic Pricing?

Dealavo offers a Dynamic Pricing (Repricing) feature that can automatically change prices depending on the configured pricing rules. This allows for continuous adjustment of prices on the market, which increases the company’s competitiveness. 

Additionally, Dealavo allows you to monitor prices on many auction portals and online stores at the same time. This way you can track your competitors’ prices and adjust your prices to stay competitive.

Fun Fact:
In 2021, 17% of E-commerce companies had started using dynamic pricing in North America and Europe.

Thanks to this, you can automatically adjust your prices to those of your competitors based on previously established rules.

Dynamic Pricing process, source: https://dealavo.com/en/dynamic-pricing-products

At Dealavo you will find, among others, the following pricing rules:

• Between two competitors– the rule allows you to automatically set prices between selected competitors.

• Below/above selected values – an option that offers the option of setting a target margin with an amount or percentage markup (e.g. the set product price should include at least a 5% margin).

• Below/above selected competitors – if we use this rule, the algorithm will generate prices lower or higher than selected competitors.

• Decrease/increase by a specific amount/percentage– This setting allows you to reduce prices by a specific amount or percentage during a given time frame. This means that, for example, every 3 days the price of the product is reduced by PLN 1.

• By cost– the “cost plus” principle.
• Based on market position – when using this setting, product prices are based on the market position of the competition. In the settings, you can, for example, assume that prices should be higher than those offered by the cheapest competitors.

• Low stock – Option useful for end-of-series and sales; causes automatic price reduction until low stock levels are achieved.

• Profit optimization – use of artificial intelligence – a rule that deserves special attention. This is an artificial intelligence (AI) price optimization mandate. The algorithm learns from the source of collected data and optimally adjusts prices to market conditions.

Also Read: Common e-commerce websites that you must avoid

Benefits of Working with Dealavo

There are many reasons why one should consider using Dealavo. A few of them are as follows:

1. Technological excellence: Dealavo has gained technical excellence. Their double verification process enables delivering high-quality data in which 75% of mapping is done by their state-of-the-art Machine Learning Algorithms.

2. Customer success team: Dealavo provides more than just standard customer support. While working with them, each client is entertained by one dedicated customer success manager. The manager will be responsible for taking care of requests.

3. Custom integration: Customers may demand services according to their needs and preferences. Considering this, Dealavo includes a number of customization options like integration with clients’ databases, data warehouses, data pipelines, custom dashboards, custom data formats, and many more.

4. Consulting services: Here, customers will get exceptional consulting services because they are well aware of the fact that the utilization of data is as vital as its accuracy. However, one can enjoy consulting services in the fields of pricing, promotions, e-commerce trends, growth, trade policy, and selective distribution. 

Regardless, examples of companies that already use Dealavo show how much can be gained by optimizing price monitoring. Companies that joined our platform increased their profit by up to 50%. 

The average increase in ROAS in Google Ads thanks to Dealavo is as much as 89%, and the opportunity to save time on price monitoring is 1,250 hours for companies that monitor 1,000 product prices on 5 websites.

Case Study z Dealavo:

Nowadays, the winner is the one who can sell products at the best price. Dealavo helps you achieve this goal by providing a tool to optimize your competitive price monitoring. Our platform offers many functionalities, such as automatic price changes or the ability to work with an individual consultant, which helps you obtain the best results. Use Dealavo now and see how much you can achieve!

The Dealavo panel. Source: www.dealavo.com

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