A competitive price that stays ahead of the competition is a hard beast to tame, but in SpotLite technology, our partners at Invigor Group have manufactured a superb lasso.
There is arguably no-one more qualified than Casey to assess the performance of SpotLite, the state-of-the-art price-tracking system from the Invigor Group.
He’s the head of marketing at a leading Australian retailer that relies on the system for daily real-time pricing data drawn from all the competitors in their market.
It enables a daily review of his organisation’s market competitiveness across all its product categories followed by daily real-time marketing decisions.
Casey makes the salient point that SpotLite contributes a lot more to marketing decisions than merely pointing to how low you have to go to win the race to the bottom of the pricing range.
While his organisation has some product categories in which being the cheapest is the name of the competitive game that’s by no means the case storewide.
In categories where his range offers clear advantages in quality or support services, Casey uses SpotLite’s data to ensure his prices stay above the competition.
Price is always a critical consideration in a purchase decision but it is far from being the most critical in all purchase decisions.
Casey reports that SpotLite data has provided invaluable insight into a wide range of marketing issues. For example, it has helped in decisions about the potential and the timing for the introduction of new or extended product ranges, the timing of advertising campaigns, longer-term marketing strategies and a better understanding of the motivations and needs of his customers.
Also on The Big Smoke
- SpotLite: Competitive pricing intelligence that’s as current as Amazon
- SpotLite: Helping shed light on today’s consumers
- SpotLite: Marketing benefits beyond price
Before switching to this online pricing intelligence platform Casey used a price-checking system from an overseas supplier. The switch to the local brand not only delivered a better system but also enabled access to a much superior support capability. He reports that a required tweak of the system to suit his special needs took a day or so instead of weeks overseas.
The ultimate aim of virtually any marketing operation is market leadership and one of the essential prerequisites for achieving it is superior market intelligence. This comprises an understanding of consumer needs and attitudes, market shares and trends and a day to day picture of what’s happening, what’s working and what’s not. According to Casey, nothing comes close to SpotLite for the day-to-day stuff.
He reports that almost immediately after it was adopted the influence it had on decision making produced a valuable boost to business.
SpotLite is a real-time price-tracking system that provides data for all retail outlets or brands in a specified market at intervals of one hour to twelve. It fits any market size, any industry and any geography, comprises data from any online source and integrates easily into marketing operations.
Another great feature offered by SpotLite is a free 30-day trial simply by going to www.spotlite.com.au to apply without even having to produce a credit card.
It is true to say however that SpotLite has presented Casey with a new business threat. He’s extremely apprehensive about the prospect of his competitors getting their hands on it.