The Search Marketing Advisor Newsletter Article:
May 2009, Volume 8, Issue 7
Comparison Shopping Engines: The Basics
By Sara Radin, Search Marketing Specialist, iProspect
With the economy still roiling and recovery far from sight,search marketers should submit their website and products to comparison shopping engines. Doing so will provide them with the opportunity to drive high converting traffic with a low or nonexistent overall cost of sale.
Why it matters
Tapping into comparison shopping engines like Froogle, Shopzilla, NexTag and PriceGrabber makes sense for a number of reasons. First, their results are prominently featured in the blended search results of all the major search engines. Second, they can create a win-win situation where consumers feel like they are getting a great deal, and marketers are driving a conversion that otherwise may not have been achieved. In addition, they allow marketers to capitalize on the fact that shaky economic times have driven online consumers to increasingly rely on the Internet to hunt for bargains. And lastly, research shows that customers who view results on a comparison shopping engine are twice as likely to convert. Ultimately, comparison shopping search engines can provide marketers with an additional source of revenue at minimal cost.
Understanding the basics
With time and resources already stretched thin, some marketers might be apt to cringe at the thought of entering another sales channel. Yet, participating in comparison shopping engines can actually be a relatively easy and inexpensive process. The below points should provide you with some insight on the basics.
How much will this cost?
Comparison shopping engines' fees vary. For example, some charge a cost-per-click fee that ranges from five cents to a dollar, and an additional initial set-up fee. However, Froogle -- Google's comparison shopping engine -- does not charge for inclusion. This makes it a free additional source of revenue; the only cost marketers incur is the time spent on set-up and maintenance.
How much time will it take?
Initial set-up requires interaction with a representative of the comparison shopping engine in order to establish billing, account, and product information. Time must also be devoted to creating an automatic feed (which is essentially a list of products with a product description, title, and inventory) so that each day an updated list is automatically sent to each comparison shopping engine. In addition, there is some time associated with troubleshooting the feed and optimizing bids, though it is far less time consuming than managing a PPC feed.
How do I get started?
Before diving into comparison shopping engines, you first want to assess whether or not they will be an effective sales medium for your site. Froogle might be a good place to start since it is free. If it proves to be effective, you should explore entering other comparison shopping engines, but keep in mind that each one is different, so you'll need to determine what engine best fits your needs.
Overall, comparison shopping engines offer marketers an additional source of potential revenue at minimal cost. Smart marketers will start exploring them and capitalizing on all they have to offer.
