Increasing sales by monitoring and analysing competitors Author: PriceCop Friday September 29th, 2017 • Category: Blog • Updated: Friday April 4th, 2025 Competition is a marketing war, and winning it is impossible without studying your rivals and keeping track of their actions. To boost sales of your products or services, you need to understand who your competitors are, which target audience they focus on, what their pricing strategy is, and how they market their products. In simple terms, you need to conduct competitor monitoring, particularly price monitoring. With this information in hand, you can confidently develop advertising campaigns tailored to market realities. Constantly analyzing competitor activities allows you to build a set of tools that will help you strengthen your position online. It’s advisable to implement this process with professionals who have the necessary knowledge and monitoring tools. Content List What aspects of competitors should be analyzed? Price Monitoring: A Key Component of Competitive Analysis How Does Price Monitoring Help Increase Sales? Key Benefits of Competitor Price Monitoring What aspects of competitors should be analyzed? Competitor websites. What tools do they use to attract customers? How do they position themselves, and how do they engage with their audience? What makes them appealing, and what key benefits do they emphasize? By analyzing their approach, you can identify opportunities for improvement in your own company. Search engine promotion. What methods do they use to rank higher? Which keywords do they focus on, and on what platforms do they build links? Understanding these elements can help refine your own SEO strategy. Pay-per-click (PPC) advertising. What keywords are their ads targeting, and what bids are they setting? Knowing this can help you optimize your ad spend and increase visibility in the right areas. If possible, you can subscribe to their newsletters or even submit an inquiry for a product or service. This will give you insights into their email marketing strategy, communication style, and content approach. By comparing it to your own methods, you can adopt the most effective techniques they use. Advertising placements. Where and how do they advertise? Tracking their ad campaigns and monitoring any shifts in their approach can provide valuable intelligence about emerging trends in your industry. With regular data collection and analysis, you can develop a comprehensive picture of market dynamics, allowing you to make informed decisions and build an effective marketing system tailored to your industry. Price Monitoring: A Key Component of Competitive Analysis Among all monitoring activities, pricing analysis is one of the most crucial. In the Ukrainian online market, price remains the dominant factor influencing purchase decisions. Even if your store ranks at the top of search engine results, don’t assume customers will buy from you without comparing prices. Savvy shoppers always check your competitors before making a decision. Price monitoring is particularly vital for new online stores looking to carve out a niche. Without the overhead costs of physical stores, they often lower their prices aggressively to attract customers. In such cases, real-time price monitoring becomes essential. Having a reliable tool for gathering this data allows you to adjust pricing dynamically and remain competitive. For instance, price monitoring can reveal: Your product is priced at 30,000 UAH, while competitors offer it for 24,000 UAH or even 20,000 UAH—this could be affecting your sales. Your product is priced at 5,000 UAH, whereas competitors list it at 10,000 UAH or even 14,000 UAH—an opportunity to increase your profit margins. By using PriceCop, you can track competitor prices and make timely adjustments to optimize your pricing strategy. How Does Price Monitoring Help Increase Sales? Understandably, you may have questions: How does monitoring work? What benefits does it offer? How can it help boost sales? Here are some key statistics: The accuracy of price monitoring data reaches 98%, and the potential revenue increase from this data can be 20% or more. However, the actual impact depends on your business model, initial market position, and industry dynamics. Key Benefits of Competitor Price Monitoring A pricing parser helps collect crucial data for successful market positioning. Gain deeper insights into competitors: who they are, what they sell, and at what prices. Receive daily updates on competitor pricing for products similar to yours. Get detailed statistical reports on competitor pricing trends directly in your dashboard or via email. Identify pricing errors, such as overpricing or underpricing, and adjust accordingly. Stay ahead of the competition by reacting to market changes and offering more attractive deals. In a highly competitive market, knowledge is power. Competitor monitoring, especially price tracking, gives you the insights needed to make smarter business decisions, stay competitive, and maximize profitability. Don’t miss the opportunity to enhance your pricing strategy with PriceCop.