How Much Should You Really Pay for a Repricer?
With the rising costs of living from the heightened inflation this year, it is more important than ever to make sure you are getting the most out of the services and products you invest in for your Amazon business. When it comes to finding the right repricer for your Amazon store, you want to make sure you’re investing in one that will save you time, effort, and maximize your profits. So, how can you ensure that the repricer of your choosing is worth the investment? Today, BQool will guide you to identify the common red flags associated with unreliable repricers and provide you with tips on choosing a repricer that suits your store so that you can better protect your wallet and business.
How to Identify the Red Flags from Unreliable Repricers?
Ah, the familiar feeling of buyer’s remorse. You buy something, excited for the potential of your purchase, only to realize moments later that you’ve made a huge mistake. What wouldn’t you give for someone to warn you if only there was a way to go back in time…
An ounce of prevention is better than a pound of cure, to save you from the headache and heartache, here is the list of the red flag you should be aware of when you are picking up a repricer:
No full price disclosure up front
Legitimate companies provide customers with all the essential information they need to know regarding their products, including the price, features, pictures, videos, tutorials, etc. This way, customers can easily determine if a product is the right fit for them without having to dig for more details. On the other hand, companies’ websites that attempt to hide the price and give vague descriptions of their products should be avoided, the absence of detailed information is often a sign that you should look elsewhere.
Discriminatory pricing
Don’t you think it is a bit ironic that you must pay more for a repricer because you do well on Amazon? Repricer is a tool that facilitates price changes. When you pay for a service, especially an expensive one, you are not the one who should shell out for extra just because your sales are good. Vampiric pricing model like sliding scale fees hurt Amazon seller’s bottom line and leech off of your hard-earned money.
Proper support service locked behind a paywall
You shouldn’t have to embark on a quest of epic proportion when trying to get in touch with customer service just to have your repricing issue resolved. It is important to make sure that you can receive reliable and responsive technical support whenever you need it. Amazon sellers shouldn’t have to fork over extra cash for premium customer service that is exclusive to the expensive repricing plan, and we must be strongly against this sort of preferential treatment to any repricing user. This is why repricer companies that frequently run free workshops to help Amazon sellers kick start their repricing journey and boost their sales should be on your priority list.
Unproven repricer with questionable online reviews
We now live in the post-truth era where misinformation is running rampant online. Unscrupulous repricer companies can spread false information about their products and services to trick you into buying into a false promise with the aid of spam bots or fake accounts. Many of these companies also make false pretenses or request fabricated reviews to improve their company image.
Usually, you can spot these bad actors easily from their online posts or comments hyping up a repricer that brought them unrealistic results. According to our decades of experience serving Amazon sellers, eCommerce business requires patience and hard work and no matter how good the software is, your new Amazon store cannot reach 7-figure overnight. Don’t get scammed!
When it is Too Good to Be True?!
On the internet everybody can pretend whoever they want. There are tons of “gurus” who pretend they cracked the code of success on Amazon and wanted to share their precious knowledge with the rest of the world for a price. And these trade secrets can come in the form of promotion of unproven repricers, paid Amazon courses or Amazon automation service.
Do not let these scammers steal your money or even worse your lifesavings. When something seems too good to be true, turn away! On video platforms like YouTube, you can identify online shills who try to take advantage of affiliate scams to push you to subscribe to a repricer that they have no experience of using for lucrative kickbacks. Have realistic goals and be patient because you are selling on Amazon, not investing in crypto.
Making the Signup Process Difficult
You don’t want to waste time trying to set up your account when you sign up for a service. If the process takes too long or you must fill out a form to get access to more features, the next step should be simple and straightforward. If it’s not, this could indicate that something is wrong. There may be an attempt to entice you into making a purchase that you don’t need.
Price & Stability of a Repricer
One important thing you should keep in mind is that the price is not always the best indicator of a product’s quality. Therefore, it is important to do your homework before subscribing to a repricer! Cost to performance ratio is your priority concern. Repricing software that tries to extort you for $500+ a month or take a percentage cut from your monthly revenue because of one useless proprietary feature or paywalled support should be avoided at all costs.
Another thing that you should always consider when it comes to choosing a repricer is the stability of the system. That is VERY important, you don’t want to wake up one morning to see your prices have inexplicably dropped to one penny due to some unprofessional error made by the repricing company! (More on this: Businesses threaten lawsuit after Amazon UK prices drop to a penny) Choose a reliable repricer that will ensure your peace of mind.
Does It Mean ALL Repricers Are the Same?
The answer is no! Repricers can vary significantly in terms of features, cost, and capabilities. We recommend that you do your research and identify the reasons behind the pricing differences. Consider looking at several repricer software and comparing their listed features to determine which one being the most suitable for your Amazon store.
You should also ensure that you can take full advantage of the whole feature set a repricer has to offers, you don’t want to pay for something you are not going to utilize, right? And most importantly, you should never overpay for a repricer. A good repricer should work for you, not the other way around. Spending on a repricer more than you can afford is just a bad idea, you will end up working to pay back the repricing companies instead of running your Amazon business.
We recommend using more affordable repricing solutions instead of overpriced ones. Or better yet, look for an affordable true AI repricing solution with machine learning capability that can automate your listing prices intelligently.
AI Repricer & Its Caveat
Even though AI repricer can achieve much more than a simple rule-based repricer. The term AI has been thrown around a lot by rule-based repricing companies that have no true AI capability. If a repricer that is “powered by AI”, it requires verification to back up its claim. Many unproven repricer companies make some exaggerated claims about their AI repricer, then they must be able to substantiate these claims with evidence.
AI may sound intimidatingly technical, but you can still identify if a repricer you use has true AI by these two steps!
First thing you can do is to look at your repricing log. There you can see exactly how your repricer behaves. You will notice that if your repricer has true AI capability, its repricing pattern would not be fixed on the same amount or percentage each time a price change is triggered. This is because AI repricer is capable of repricing dynamically when it adjusts a listing price each time based on multiple conditions like competing offers, prices, shipping time, stock level, region and much more, just like how Amazon’s buy box algorithm decides which offer gets the buy box. Similarly, this is also how AI repricer work to predict the best price to get into the Amazon buy box and maximize a seller’s profit.
Another thing you should consider is how long a repricer company has been in business. Typically, a “young” repricer cannot outstrip the capabilities of a proven repricer because of the lack of data in their machine learning. Ai repricer with machine learning needs large dataset to continually optimize and evolve through the different stage of AI and this is no small feat. This is why it’s near impossible for a repricer company that has less than 10 years of experience to come up with a true AI repricer. Plus, most of the new repricing companies outsource their Research and Development and do not have the AI talents to undergo such tremendous projects.
What We Do at BQool
At BQool, we have over a decade of repricing experience with billions of repricing data in our data pool for AI to analyze and learn. Most of the new repricers cannot achieve that level of complexity and do not possess the same amount of data of our scale. BQool has a dedicated team of AI engineers, who have years of experience in the AI field, design and implement machine learning solutions for Amazon sellers. This isn’t something that a closet size R&D team in a start-up repricer company can achieve, let alone developing true AI solution for Amazon businesses.
Our company provides exceptional customer support for the success of businesses of all sizes. We remain committed to the transparency of our software business and offer plenty of online content such as educational videos, online webinars, and articles. We recognize that our customers don’t have time to search endlessly for answers, so our efficient and reliable customer service team is here to help. We also value and take pride in our sellers’ success and strive to help our users reach their goals.
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