Published on September 05, 2010 GetPrice has been purchased by News Ltd – what does this mean?
GetPrice is one of the most recognised shopping comparison websites in Australia and has now been purchased by one of the largest and most recognised media companies in Australia, News Ltd. What does this mean for ecommerce websites?
This was not an outright purchase as News Ltd has owned a stake in GetPrice since 2007 and had a controlling stake in the company since 2009. The move signals News Ltd’s intention to drive more revenue from online. News Ltds investment in this ecommerce firm will almost surely help grow the online industry, which is good for anyone thinking about online retailling.
What’s the benefit of listing your products and services on a website such as GetPrice where you pay for every click to your site? The answer is that it’s like targeted advertising – just like Google Adwords is advertising targeted on search pages. People going to the site are looking for information about your products. That’s not to say there won’t be the odd tyre-kicker or someone who is purely researching products and not in buying mode, but it’s exposure, and it’s generally better for businesses to be listed than not listed as historically conversion rates on advertising these types of sites reported by their providers tend to be certainly worth considering for any online marketing strategy.
If you’re thinking about listing your products and services on a price comparison website here are some things to think about:
- Does your business sell similar products to others? If you’re in any competitive industry selling anything that relies on brands, shopping comparison sites are a great way to present your offering head-to-head with one of your competitors.
- Does your shopping cart provider have a data feed for that comparison site or can help you put one together? Most sites use similar forms of input, so you may be able to re-use the data feed from another site. If in doubt, ask your shopping cart provider.
- What is your budget for clicks? These sites charge on a cost per click basis, and often have different packages for different types of monthly budget commitments. It’s worth checking out and doing the numbers
- What do your competitors do? If your competitors are using these types of sites and you’re not, then you may be missing potential customers
In their press statement, GetPrice quoted stats saying that 57% of all online Australian shoppers used a shopping comparison site before buying so it’s certainly worth considering using shopping comparison sites as part of your strategy. Yes, they can encourage shoppers to use price as an initial filter, but it’s about how you present the other things like your shipping costs and times and service and how your site looks that can make the difference – not only price.
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