How to boost your ROI by leveraging knowledge from a game of chess and web extraction as a function?
While life as an entrepreneur is no less than a game of chess, the only way to stay ahead of the curve is by getting right into the heads in the curve. The success of an enterprise may not be an absolute number game but more about being relatively ahead in the game. After all, nobody is a winner unless he beats the others in a race.
While the game of chess is simple enough as you can see your opponent’s moves, is it as simple in the real-world marketplace? It sure is – with the right tools and systems.
Boosting ROI is key to any business. Obviously, who does not want to get more bang for the buck? After considering the massive financial burns a company endures in marketing, it is only fair to expect a grand return on the investment made. However, a key point here would be to ensure that only marketing is not going to help you, it is the “right fit” marketing that’s going to help you step up your game. What’s better to excel at strategies than monitoring our peers’ strategy and working around all bottlenecks and loopholes in it?
If you were to understand that a particular product is unavailable in the entire market and you are an exception while the demand for it is soaring, what would be your next move? Price it higher. This is where market intelligence steps in and injects your ROI with steroids. The key lies in knowing the market and utilising information to strategize.
Now that you can appreciate the fact that having a competitive edge is vital to survival, let’s dive straight into how can jargon-heavy services like web scraping and web extraction help you stay ahead of the curve, especially in a dynamic economy like India.
Web extraction and web scraping as a service helps in delivering insightful data and information which will help your business take the next big leap. Like mentioned in the above example, there are quite a few ways in which you can improve your marketing ROI through market data which you will fetch through data and web extraction & scraping.
Here are a few guidelines to help you improve your ROI through web scraping services in India:
- Pricing Strategy
Understanding the way the peers are pricing the product can give you a lot of insight into what’s the best way to price the product. Quite often, the bottom line is hurt due to over or under pricing. It is key to hit the sweet spot and get it right. Web extracting key data and inputs about your peers’ pricing strategy will give you enough confidence to price your products just right without compromising on the sales or profitability.
- Purchase incentivizing programs
Just imagine a scenario where the competitors have declared a price war through deep-discount sales and offers and you get caught like a reindeer in headlights. While it is a fantastic opportunity to jump into the price war and shed all excessive and dead inventory, you would not be able to do it if you are the last person in the grapevine.
“Stay informed to stay ahead” is the crux here.
- Brand positioning
While everyone in the marketplace are trying to position themselves as a go-to vendor for certain products and services, it only makes sense to learn from their mistakes and position yourselves in a better way. Web extraction and scraping services ensure that you get enough lead time to understand the market and position yourself well.
- Product mix
The product mix is vital to your success. Determining the right product mix – price, positioning, promotion and product is not an isolated function but rather a relative function where you must get the mix right in all aspects just enough to surpass your competitor’s game.
At the end, business is a lot like a game of chess. In fact, it can be easier if you can get into the heads of your competitors through data extraction and web scraping functions.