Anyone who is looking to buy a product online will want to buy the best brands at the lowest prices. To make matters easy for the buyer, there are a lot of price comparison websites (PCW) available online that allow the buyer to compare and see the price of their chosen product offered by various online merchants and how much they cost at a glance. The PCW is in high demand these days as more than 85% of the people who shop on the internet would like to find the best deals. This will save them a lot of their time and effort in finding the price of their desired item and buying it. They do not have to visit each website individually to check out the price and get all the necessary details in one place on the internet. They come in very handy for people making important purchases like insurance, taking a bank loan, or when choosing a credit card.
Tips to Set up Price Comparison Website
Building a PCW is not an easy job by any stretch of the imagination. There are a few areas that need to be given due importance to make it a viable one.
There are a lot of such businesses running online, and this has given the shoppers the option to get a detailed comparison of the product or services and their costs before they make the purchase. It is important to find a niche market or offer a different type of online comparative study that the consumers have not come across so far. It needs to be monetized in the correct manner, and it can easily turn into a revenue generator.
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Suppose the goal is to set up a different looking casino comparison site that offers a myriad of games in all popular gaming categories. It is important that the internet gambling centre has a new and unique theme, attractive graphics, titles from the leading software developers, and also offer top-end customer support. The most attractive option is to look to offer attractive welcome bonuses and promotions that are new and different from the regular ones. Even if it is a eye of horus free play, give some extra add-ons and a special niche to attract the gaming enthusiasts. The same holds good for other business ideas. To get to unique niches, it is better to do thorough market research to know the customers and to find out what are the bargains they are after.
Features to Add on the PCW
These are the pages where the comparison is displayed. It should not just contain the product’s name, but should also carry its important features along with the price.
- Reviews and Ratings
The reviews are utmost important as they give a clear idea to the prospective buyer about the right store to choose the product. Please provide space for the users to give their comments and reviews on the site or the reviews posted on the selling websites can also be used.
- Filters and Easy Search Options
Providing the search option is a must as it is an integral part of a PCW. The users looking for a certain item must be able to look at the details of a specific model. The filters are also a very good option that will allow the searchers to get access to products that meet certain specifications. This will help in narrowing the search based on the specs and the job to find the niche gets easier.
- Price History
This is a particularly important option to add on the PCW that deals with flight tickets. It gives the users details about the trends and the changes that are taking place. It will give the ticket buyers the idea of the purchase activity and can give them some idea of when the ticket price can go high or low.
There are a lot of niches where importance is given to customer retention. This is a common case as far as online casinos are concerned. This is where the reward programs for loyal customers will have good effects. They are often used in flight comparison, casino comparison, and travel-related online firms. It is important to get the approval from the service providers before looking to offer some attractive discounts to customers getting to access the business from the link at your end.
How a PCW Makes Money?
Affiliate marketing is the main business model of the price comparison website. This means that the marketer has entered into an agreement with the vendor and provides a link to the vendor’s business site for a certain fee. These links will carry a unique identifier that will help the vendor to easily know where the customers have landed from. There are certain PCWs that make money by promoting certain vendors on the top of the page or even through ad columns.