Although data is omnipresent in all sectors of the economy, it is interesting that companies can have a global vision of their competitors’ data to have a real competitive advantage in the market.
Data such as the prices charged by the competition, the different ranges of products offered or those that are the most prominent can, for example, be valuable indicators to adapt your positioning.
The exploitation and analysis of the competition’s data represents a great opportunity and it is in the sense that it is essential to have an SDO (Smart Data Orchestration) team that is capable of taking advantage of this data to optimize different strategies. .
Extract data from the web with web scraping
Web scraping, or simply “scraping” is a data collection technique on the web, to later gather it in a structured way in a database to be able to use it later.
To extract data from one or more websites, it is possible to use a manual process or opt for an automatic extraction that uses an algorithm or a robot. A lot of data can be extracted in this way, such as emails, phone numbers, URLs, page texts, prices, etc.
A technique that makes it possible to differentiate
A company that uses web scraping will be able to stand out and get to know its competitors better thanks to an in-depth analysis of its information. This practice allows you to retrieve external data to compare them with your own and thus identify areas for improvement or have a better understanding of the environment.
A price watch will allow, for example, to optimize the margin, in particular by identifying the products on which prices can be increased, but it will also be a good way to have an overview of your price positioning, to possibly better align with the competition.
Scraping is also useful for monitoring the market, highlighting a certain number of trends and adjusting your positioning. Exploitation of competitor data therefore opens up a large number of interesting possibilities in marketing, with specific applications.
This data can be used, for example, to tailor offers on Google Shopping and highlight products with the most competitive prices.
To make a difference, therefore, it is necessary to try to understand what a good or bad price implies in terms of the impact on the acquisition costs of the campaigns and to be able to measure the profitability of the investments in the different products.
How to extract data with web scraping?
Setting up such a marketing strategy is a pretty big project that can take time. Therefore, it is essential to think carefully about the process and be as well accompanied as possible.
To achieve this, you have to ask yourself 3 big questions:
● What is the purpose of my data scraping?
● Who are the competitors whose data I am interested in?
● How to analyze these data?
It is then about finding the right technique to extract and compile the data. There is free software for this or the possibility to manually code a scraper.
Harnessing the full potential of web scraping data in marketing
To better optimize your marketing strategy, you must be able to have a clear view of the attractiveness of the products in terms of price and define whether the pricing policy is attractive. Beyond that, it is necessary to be able to analyze what is the impact of the price of the products and the price shown by the competitors in the marketing performance.
In fact, every company aims to increase its overall margin volume by lowering the prices of products that are most sensitive to competitive pressure with a view to lowering marketing acquisition costs. It is to respond to all these problems that scrapping takes all its interest.
The ability of an actor to dynamically modify these prices to become the most competitive distributor of a certain product allows in many cases to considerably improve the advertising ROI and therefore recover in margin what had been lost by lowering the price of the product.
Therefore, extracting competitor data can represent a significant competitive advantage and a significant time saving that allows you to make concrete strategic decisions to optimize sales and market positioning. However, scraping projects are ambitious and require the supervision of experts who master the subject and all its subtleties.