Price Comparison Website Marketing Strategies

People have become incredibly savvy with their shopping habits, especially when it comes to online shopping. For the most part, brand loyalty doesn’t count for a great deal, and the one that gets the sale is the one with the cheapest price. As a result, price comparison sites have grown considerably over the past decade, but when you have multiple comparison sites for the same kind of item, how to they establish themselves as a key player? Here are some of the ways that price comparison sites utilise effective marketing strategy to increase brand awareness and retain their consumer base.

Social media presence

Any website worth its salt has some kind of social media presence, whether it be on Facebook, Twitter, a blog or a forum. Social media has given companies an accessible touch point with their customers and it can be an effective method to communicate marketing messages as well as provide customer service. Twitter especially has become the platform of choice for price comparison sites as it allows them to interact quickly and directly with other users, answer their questions and provide them with relevant information.
The advent of social media also allows for a less corporate and more personal approach to marketing. Being able to engage and pique the interest of customers is important to bringing them on board with your brand, and having the personality of the business shine through is an effective method of doing this.

Branding and visuals

Price comparison sites are inherently similar to one another, and so each one needs an effective method of distinguishing itself from its peers and establish their brand in the forefront of consumer’s minds. This is usually achieved with a catchy jingle or a memorable character, or a combination of the two. For example, currently has adverts featuring its cartoon mascot, Cara, in an altered rendition of the well-known disco hit Y.M.C.A. The branding message and visuals are consistent across the website and all of its social media channels, which engrains itself in people’s minds to make it an instantly recognisable brand.

Price competitiveness

Of course, the point of price comparison websites is to provide the cheapest prices on a range of products from credit cards to car insurance. It’s often the case that two price comparison sites will show up the same price with the same provider for the same person, and if that happens, how do you get the edge on the competition?

This is where you must have a good relationship with your business partners in order to provide exclusive deals and discounts for your customers. This is then backed up through the site’s newsletter to customers and promoted on its social media channels to ensure that the exclusive partnership gets as much coverage as possible.

The online price comparison market is a highly competitive one, and it’s through a combination of effective company branding, price competitiveness and embracing the popularity of social media that these sites can hope to gain an edge in the market.

This article was written by Jamie Gibbs, the resident blogger for small business insurance comparison site