Greenlight launches real-time price comparison platform for paid search
26 Oct 2010
UK-based search marketing and technology firm Greenlight yesterday announced the release of its proprietary real-time price comparison platform for paid search.
The launch is a part of its latest upgrade to 'adapt', the automated inventory management platform, pioneered by Greenlight in 2004.
For retailers, a lack of real-time intelligence on their most competitive products can prove costly from both a campaign and financial perspective, says the company in a statement.
A survey undertaken by Greenlight shows 60 per cent of retailers saying they view price as having the highest impact on a customer's decision to buy. Over half said they would change their bidding strategies if they had insight on how price competitive they were against their competitors for the same product.
The survey further found that only 28 per cent of respondents put the price of products in their pay per click (PPC) ad copy, and 87 per cent of those who do manage this process manually.
Adapt allows retailers across multiple sectors to access 24 / 7 intelligence on competitor prices on like for like products, which can help build a paid search strategy focused on aggressively advertising their most competitively priced goods as opposed to pushing 'price war losing' ones, the company said.
The software can instantly convert a retailer's frequently changing product updates into live PPC ads, accurately reflecting their most price competitive products, it reveled further.
''Having all the data needed to be visible in the right place at the best price is a mammoth task for retailers'', says Greenlight co-founder and director, Alicia Levy. ''It requires a huge investment of time and manpower and even then, once the process has been completed, the opportunity is often already lost. The development of adapt is a natural progression in finding a solution to one of the biggest problems in search.''
