How To Create A Competitive Pricing Strategy With Automation

Curious about changing up your business pricing strategy? Extract the pricing strategy of ANY competitor in under 10 minutes using this strategy.

This blog is for entrepreneurs and small business owners who aren’t shy of automation and want a practical guide to achieving a razor-sharp pricing strategy.

Stick with us to learn how one PhantomBuster tool can extract and filter data you need to run your business, from acing your pricing strategy to selecting the best selling products you need to stock your store, all based on what your direct competitors are doing.

We've featured a step-by-step use case to get you pumped up to use this Phantom.

All you need to get started is a free PhantomBuster account. You can sign up in seconds (without a credit card) over on our site.

Some of the key benefits of automation may be things you've never even heard of.

Did you know that you can even use automation to determine how your competitors price their products and then use that information to better position your pricing strategy?

In this guide, we want to give you your time back.

Cutting out monotonous and recurring tasks for your business is one way we can help.

1: How Can You Create a Competitive Pricing Strategy with Automation?🏷️

This pricing method is useful no matter the size or scope of your business.

Our customer Rose, located in Leeds, England, is the Head of Development for a chain of houseplant stores.

A big part of her job is to make sure their products are well-positioned in the market by analyzing how her competitors are pricing their plants, which can take hours and hours of manually scouring online.

She reached out to us recently to share how one Phantom helped her to automate her pricing strategy.

Here is her brilliant use case to utilize existing pricing data from competitors to scale your business!

1: Open up the web page you want to extract pricing information from.

For this example, we are going to use the Leaf Envy shop as our reference.

2: Pop open the Web Elements Extractor Phantom. We recommend checking out the dedicated tutorial to use this Phantom, as its setup is more advanced than other Phantoms.

3: To review any website's pricing, you'll need to input the URL of the web page or a spreadsheet of URLs in the "Elements to scrape" section.

If you use a Google Sheet or CSV URL filled with different web pages, make sure that your file is publicly accessible.

4: Now you can crack open the code! As this Phantom works in an advanced way, you will need to source the CSS selectors from the web page that you wish to scrape.

Right-click on the shop web page that you wish you analyze. Click inspect to open the Developer Tools window.

5: Next, you're going to find the specific CSS selector for the element that you are interested in, i.e., the price of each plant.

Click on the arrow symbol in the top left of the Developer Tools window, then hover over one instance of the element - in this case, the price of one plant in the shop.

When you click on the price, you will see it highlighted in the Elements tab of the Developer Tools window, with the CSS selector you need in quotation marks - e.g. ".ProductCard_price" in the example below.

6: Copy this text and paste it into your Phantom's setup. It should look like this.

7: Add as many elements as you would like to extract from the page - e.g., the plant's name so that you can align each type of plant with its price. Then all that is left to do is to name your results file and launch your Phantom.

8: The Phantom extracted all the pricing information for the Leaf Envy shop in seconds, along with the plant names for you to identify each.

The result?

Now you have a list of pricing points to work from when creating or modifying your own local or national pricing strategy!

2: Other Great Ideas to Extract from the Web

Here is a list of other things you can do with this Phantom as a small business owner. Simply follow the same steps as in section 1.

• Check the product stock lists of your competitors
• Compare the price reductions of your competitors during the sales
• Analyze the custom stock levels of your competitors, e.g., plant pots sizes
• Import your website's data to Notion

That's it for this blog. We hope that you've enjoyed it! Let us know if you try out this method yourself!

This blog was originally posted on phantombuster.com.