All you need to know about PCWs

All you need to know about PCWs
March 17, 2020 Laisa Lopes

Customers have developed the habit of comparing prices to help them find the best deals. As a result, price comparison websites have become a useful tool for those looking to save money. 

A study found that in 2019, 81% of shoppers researched online before buying, a 20% increase from the previous year. In Europe, more than 70% of internet users shopped online in 2019, while that number jumps to 80% for Americans. 

There are two main reasons why online shopping is increasing: the ability to shop 24/7 and to compare prices.

For businesses that sell their products online, price comparison engines (PCEs) also gives them the chance to increase sales, get new customers, and also get an edge over the competition.

>> Are you looking to diversify your sales channels and you’re not sure what your next step is? Check out our article Reach Ready-to-Buy Shoppers with PCWs’.

What is a price comparison engine? 

A price comparison site or app is used to compare product prices sold by different retailers. This app displays the prices of the product from various retailers so you can choose the best deal from the options provided. On most cases, when a shopper clicks on a product link, they’re sent back to the retailer’s site to make the purchase.

Price comparison engines (PCEs) are an opportunity for e-commerce merchants to put their products in front window of interested buyers. Consumer behavior has changed, so that means people aren’t just glancing at a virtual storefront like they used to do at the mall. PCE users are in the ready-to-buy mindset, and are simply looking for the lowest price.

With their high intent to purchase, online shoppers are the ideal audience for promoting your products. Price comparison websites present themselves as a great way to attract traffic and increase sales.

At Shopbot, our community is composed of over 600 merchants from Canada to Australia. Through our monthly plans, we offer merchants access to unlimited traffic and the possibility of being listed alongside the big players. This means that if you have a small or medium sized business, and you’re looking to broaden your sales channels and acquire more visibility, you can list your products on Shopbot for as little as $29 per month.

Shopbot-Monthly-Plans-Blog

Unique to the market, our subscription pricing models level the playing field so that you as a merchants can have a fair shot. It’s quite simple to sign up. Fill in the online form, pick your plan, send your feed and start listing. We also offer a bidding tool, which enables you to bid per category, according to your budget.

Now, let’s have a look at the others price comparison engines out there.

Our selection for you

1. Google Shopping

This is one of the largest price comparison engines out there. Google Shopping is a Google service that allows shoppers to compare and shop for products from a broad range of retailers who have paid to advertise their products.

The results show up as thumbnail images that display each product’s retailer and price. Users can also filter the results by price point, size, fabric, and more.

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Are you a merchant looking to list on Google Shopping? 

To get your products featured in Google Shopping results, you have to sign up for Google Merchant Center account. The onboarding guide explains how to do it.

Through Google Shoppings Ads, you can sell a product directly on a search engine results page (SERP). Set it up through Shopping Campaigns and start placing your bids.

There are two main things to keep in mind: big strategies and campaign budgets. You can choose a manual CPC (cost-per-click), which means that you set your own maximum CPC for your ads. Or, you can go for an automated bid strategy. In order for Google to set the most efficient bid on your product, you’ll need set up conversion tracking to get Target ROAS (return on ad spend) and Enhanced CPC.

There’s also the option “Maximize clicks”, where Google Ads automatically sets your bids to get as many clicks as possible – within your budget, of course. For that, you can set a Maximum CPC bid limit to cap the amount you spend on each ad.

Then, choose your campaign budget. This is the amount of money you’d like to spend on a daily basis. However, Google will manage your budget monthly. Basically, in a month, you won’t spend more than your daily budget times the number of days in each month.

It’s important to remember that competition is tough. In order to be rated on Google Shopping Ads, your shop needs to meet Google’s minimum product review requirements.

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Traffic Overview for shopping.google.com. Source: SimilarWeb

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Traffic by countries for shopping.google.com. Source: SimilarWeb

2. BizRate

This engine goes beyond showing customers different products and their prices. When a customer sees a product they like, Bizrate allows them to fix price alerts. They are part of the Connexity company, which gives merchants additional benefits.

Bizrate-top-price-comparison-websites-Shopbot-blog

Are you a merchant looking to list on Bizrate? 

To list your products on Bizrate, merchants must pay a $50 refundable deposit when creating an account. Then, they must place a bid on a CPC amount. The minimum bid differs according to category and changes throughout the year. The higher the amount a merchant places on a bid, the higher their products will appear in the listings.

Merchants can take advantage to tap into some of the resources made available. For example, through Bizrate Insights, you can learn about customer experience, engage in conversation with your shoppers through advertising opportunities, and increase visibility through third party ratings and reviews.

After creating the account and paying the deposit, merchants must create or send a feed according to the platform’s specifications, set up a bid for each category and make sure there are no errors. 

Click here to apply to join.

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Traffic Overview for Bizrate.com. Source: SimilarWeb

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Traffic by countries for Bizrate.com. Source: SimilarWeb

3. Shopping.com

This PCE is under the eBay family, and it’s an ideal channel to get your products to possible customers. With its own product catalog from thousands of retailers, they also offer versions for France, Germany, the U.K., and Italy.

And if you’re a merchant looking to list on Shopping.com? 

Our team researched how, as a merchant, you can join. It was found that this PCE not only part of the eBay group of companies, but it also partners with The Find, Bing and Google Shopping, gathering prices in their databases, and displays on the website. 

However, it’s not clear how to sign up. While some sources say it’s by creating an eBay Commerce Network merchant account and then connecting your store, others say it’s through Google Shopping.

Traffic overview for Shopping.com. Source: SimilarWeb

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Traffic by countries for Shopping.com. Source: SimilarWeb

4. Amazon Sponsored Products

Technically, Amazon is not a comparison shopping engine, even though it works in a similar way. Amazon Sponsored Products help Amazon customers discover and purchase products through ads that appear in search results and on product pages.

Amazon-Sponsored-Products-example-Shopbot-Blog

Are you a merchant looking to list on Amazon? 

According to the Sponsored Products homepage, there are three main benefits of using this service: get discovered, increase sales and control costs. 

Sponsored Products is available for “professional sellers, vendors, book vendors, Kindle authors and agencies.” In addition, products must be in one or more “eligible categories” in order to be advertised. 

There are 3 steps to follow: 

1 – Choose the products you want to advertise.

2 – Decide which keywords to target and how much you want to bid for clicks.

3 – Set up your budget and create an ad in minutes. 

You will pay per click. This means you only pay when customers click your ads. The more competitive your bid, the more likely your ad is to be displayed when it matches an Amazon customer’s search. You can control your budget by choosing much much to bid per click.

You can get started by clicking here.

Traffic-Overview-Amazon-Shopbot-blog

Traffic Overview for Amazon.com. Source: SimilarWeb

Traffic-Country-Amazon-SimilarWeb-Shopbot-blog

Traffic by countries for Amazon.com. Source: SimilarWeb

5. CamelCamelCamel

This site tracks the price history of Amazon products over time. Online buyers can see trends and historical pricing. 

There’s also a browser extension where you can add your Twitter handle or email for drops in price alerts. Buyers can search or browse by category for each product to compare prices.

And if you’re a merchant looking to list on CamelCamelCamel? 

For your products to be listed on CamelCamelCamel, you need to be a merchant on Amazon. You can become an an official seller by opening a Seller Central account. This step-by-step guide will help you through the steps. This will be the HQ on your online business through Amazon. Use this portal to add product listings, manage your inventory and view your reports.

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Traffic overview for CamelCamelCamel. Source: SimilarWeb

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Traffic by countries for CamelCamelCamel. Source: SimilarWeb

6. Yahoo! Shopping

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This is a price alert tool for buyers online. Consumers can create a wish list of products they want to track its price history. Yahoo helps to monitor any price change over time.

Are you a merchant looking to list on Yahoo? 

If you’re considering connecting your store to Yahoo Shopping, here are some details. 

Though Yahoo Small Business, formerly known as Aabaco, you can create an online store, upload your products, and benefit from Yahoo’s resources to find customers and expand your business. As a small business, you can also create your store on Yahoo. The starter plan is $10.95, while the professional is $254.95. These prices don’t include taxes and fees with an annual prepaid plan.

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Traffic overview for shopping.yahoo.com. Source: SimilarWeb

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Traffic by countries for shopping.yahoo.com. Source: SimilarWeb

7. Shopzilla

Shopzilla-Top-Price-Comparison-Websites-Shopbot-Blog

This is one of the most popular PCE’s out there as it lists millions of products. The selection is as wide as it gets, but the competition is also very tough. Like Bizrate, Shopzilla is part of the Connexity family, and it’s focused on driving customers to online sellers.

Are you a merchant looking to list on Shopzilla? 

It’s actually quite simple. This price comparison engine also works with cost-per-click(CPC), and merchants need to pay a $50 deposit. You can apply to join here. You’ll have to fill in your business’ information, and then you’ll be prompted to pay the deposit and send your products’ information.

Similarly to the previous PCEs mentioned, you’ll have to place a bid on your products. The amount will determine your product’s exposure. Note that it doesn’t equate to your actual billed CPC. 

According to Connexity’s FAQ, they use a proprietary Smart Pricing system to determine what to charge each click and ensure your ROI goals are being met. 

“Smart Pricing is a system where CPC charges are calculated based on performance and not priced at a predetermined CPC rate. This flexible pricing model allows Connexity to charge the appropriate amount for each click as clicks all have different quality signals.”

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Traffic overview for Shopzilla.com. Source: SimilarWeb

 

Traffic-Country-Shopzilla-SimilarWeb-Shopbot-blog

Traffic by countries for Shopzilla.com. Source: SimilarWeb