Competitors raising prices can dent their conversion rates. Creating a prime opportunity for you. By upping bids on these products, you can leverage their vulnerabilities and convert buyers to your brand. Thanks, Mike.
Mike Black
➡️ Post | Profile
Jeff Bezos once said "Your margin is my opportunity." These words ring especially true when conquesting competitors on the #digitalshelf.
Consumers have a limit to how much they will pay for a product, even if from a trusted brand.
Often times your competitors may not know their brands' price ceiling and they will raise prices such that it negatively impacts conversion rates.
This blinded real example below shows what happened to a home durable MFR's conversion rates when they significantly increased Amazon prices this time last year due to inflationary pressures.
This is your moment to strike. 👊
By increasing bids on competitor products that have raised prices you can capitalize on their conversion vulnerabilities and increase your odds of converting new buyers to YOUR brand.
Price increases are a natural part of dealing with #inflation -- and guess what? Inflation is sticking around.
So it's likely competitors may still need to raise #ecommerce prices.
The only question is:
Are your hands-on keyboard #retailmedia teams and programmatic bidding tools equipped with the right #digitalshelfanalytics to strike while the iron is hot? 🔥