Competitor Monitor: Start Up Gives Ecommerce Businesses an Edge

Newcastle, United Kingdom, March 19, 2011 --(PR.com)-- Competitor Monitor is a new online start up which provides a price monitoring solution for businesses in competitive ecommerce industries. CEO Adrian Teasdale said “We did some research and found that a lot of ecommerce businesses were struggling to keep track of where they were priced in relation to their competitors. Obviously this has knock on effects to other areas of the business, so we decided to set out to create a solution which meant they never had to worry about pricing again.”

With February 2011 being the fourth consecutive month showing an increase in online sales, competition between ecommerce businesses has certainly stepped up, reinforcing the need for competitive intelligence for any business wanting to stay abreast.

The Competitor Monitor team have 8 years experience in the art of business intelligence. In 2003 they launched a range of services with IntelligentEye, and recently decided that there was a need for an ecommerce specific service, so decided to build one.

Whilst there are only a few sites currently offering competitor price monitoring, Competitor Monitor still made it a priority to stand out from the crowd. “We’re firm believers in the Leonardo De Vinci quote ‘simplicity is the ultimate sophistication’, so we put a lot of effort into making our software simple to use,” said James Mishreki, Head of Sales and Marketing. “In addition, we also spent time working out the easiest way for people to get set up. We’re now at the stage where all you do is fill in a form on our site with your top 5 competitors, and that’s you good to go for 30 days for free, no payment details whatsoever. The rest is then down to us!”

It’s not just useful for alerts on competitors pricing either, Competitor Monitor will tell you when someone scraps a product or adds a new one, meaning you can react accordingly. “It’s crazy how many people get back to us praising our service because it saves them so much per month,” said Adrian. “The beauty of it is that you can identify opportunities that would otherwise have never been brought to your attention.”

What is unique here is that it allows businesses to offer a price match guarantee. If you can be certain you are offering the best prices, you can be safe in the knowledge that your customers won’t find an alternative. Ironically, Competitor Monitor guarantees that they won’t be beaten on pricing. They offer packages that cater for businesses of all sizes, from £35 to £150/month, and they have scrapped their set up fees which are standard in the industry.

Competitor Monitor is in its early days, but things are looking very promising. What is a focus of theirs is bringing about awareness, since most ecommerce businesses don’t have a clue that competitor price monitoring is even possible, “that’s half the challenge,” says James, “but the hard work is starting to really pay off now.”

Visit Competitor Monitor for a tour today.

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