Leader in Brand Commerce Technology Hones Brands’ Ability to Influence the Path to Purchase
Today, PriceSpider, the global leader in brand commerce technology, is announcing the availability of Brand Monitor, its powerful digital shelf analytics (DSA) solution that provides brands with data-driven information to drive consistency throughout the customer journey. Brand Monitor leverages PriceSpider’s best-in-class crawling technology to provide actionable insights on how a brand and their competitors present themselves to consumers. It identifies improvements that could be made to improve competitiveness, conversion, and market share.
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With March 2021 ecommerce sales exploding by 86 percent year over year, today, a brand’s digital presence and how consumers interact with it is the foundation of overall success. Brand Monitor provides visibility for brands that enables them to take advantage of opportunities in the marketplace that improve the customer experience and drive brand loyalty.
“We understand how crucial the customer journey is to brand strength,” said Sean Downs, CEO of PriceSpider. “Brand Monitor empowers brands to provide those consistent and delightful experiences in which the path to purchase is seamless for the buyer. Brands must find a way to manage an infinite number of touchpoints including digital ads, social media, thousands of retailers’ product detail pages and millions of product reviews. With Brand Monitor, brands gain access to insights from the consumer shopping journey at all of these touchpoints and the ability to influence everything along the path to purchase.”
Using Brand Monitor, brands can access crawled data that monitors content across thousands of retailer and seller websites, product detail pages, competitor stock levels, and even product ranking, including:
- Product description and feature bullets
- Product images: Hero image, Order of images, Unapproved images
- Price monitoring
- Share of search
- Stock availability
- Ratings and reviews
Armed with this data, brands will be able to make impactful, informed decisions quickly at both micro and macro levels. Using the image and content monitoring function, brands can ensure product and customer experience consistency much like they do on the physical shelf at a brick and mortar store. Using the share of search function, for instance, if a brand’s competitor product goes out of stock at a specific retailer, a brand can increase ad spend to drive traffic to take advantage of its competition’s shortfall in real time. Conversely, if a brand’s own product goes out of stock, it can pull back spend to save shoppers the hassle of arriving at a dead end. Share of search adjustments can also be tested and measured through Brand Monitor to ensure KPIs are met and content optimized for sales conversions.
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Brand Monitor is part of PriceSpider’s Brand Commerce Platform, which processes and analyzes insights about consumer purchasing behavior for nearly 2,000 brands, ranging from many of the world’s largest consumer brands to smaller and mid-size brands. The platform allows brands of all sizes to influence ROI at every possible touchpoint and offers near real-time data and actionable insights to help them sell more products.