Tools and Calculators – Sniffie https://www.sniffie.io AI-driven product pricing tool for Ecommerce Mon, 25 Mar 2024 10:16:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 https://www.sniffie.io/wp-content/uploads/2022/05/cropped-New-Sniffie-Favicon-Blue-32x32.png Tools and Calculators – Sniffie https://www.sniffie.io 32 32 Ecommerce Pricing Checklist https://www.sniffie.io/resource-library/ecommerce-pricing-checklist/ Thu, 24 Nov 2022 15:31:39 +0000 https://www.sniffie.io/?page_id=51939 Ecommerce Pricing Checklist 101 pricing tips we’ve learned on the way… Tune your Ecommerce pricing to the hilt. Download our brand-new Ecommerce Pricing Checklist and ensure you understand what moves the needle in Ecommerce pricing. First, supercharge your pricing team with top tips and tricks. Then, create processes, plans, and quick fixes that automatically increase […]

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Ecommerce Pricing Checklist

Ecommerce Pricing Checklist with 101 tips on how to improve your pricing

101 pricing tips we've learned on the way...

Tune your Ecommerce pricing to the hilt. Download our brand-new Ecommerce Pricing Checklist and ensure you understand what moves the needle in Ecommerce pricing.

First, supercharge your pricing team with top tips and tricks. Then, create processes, plans, and quick fixes that automatically increase your team’s understanding and knowledge of pricing.

See your development and impact to pricing on a dashboard...

See how every implemented change will impact your pricing on a simple dashboard. Collaborate with the team, share tasks, and then check the impact.

 

Ecommerce Pricing Checklist Dashboard to monitor the development and impact of your pricing actions

What is an Ecommerce Pricing Checklist?

An Ecommerce Pricing Checklist is a list of tasks and ideas to improve your Ecommerce pricing profitability. We go through 101 tips we have learned so far from areas such as:

  1. Buying and supply chain
  2. Understanding costs
  3. Setting up master data
  4. Understanding the competition
  5. Pricing strategy
  6. Dynamic pricing
  7. Optimizing profitability
  8. Campaigning
  9. Compliance and Legal
 

The checklist will help you organize your development efforts and find new ideas, processes, and assets to streamline your pricing.

Claim your Ecommerce Pricing Checklist

What you get...

Example tips with detailed instructions on our checklist:

  • Reverse engineer competitor pricing to understand their realistic purchase prices
  • Create an understanding of how much you spend on marketing per product
  • Take return % into costs when setting pricing
  • Find the competitors that are price leaders in the industry
  • Check that everyone in your marketing and pricing team understands what kind of pricing actions should be taken
  • Make sure KVI products are either manually accepted or have tight automation policies to avoid loss
  • Use smart AB testing or profit optimization to find the most optimal price points for your B- and C-level products

     

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]]> Market Index Calculator https://www.sniffie.io/market-index-calculator/ Tue, 15 Nov 2022 12:56:59 +0000 https://www.sniffie.io/?page_id=51672 Market Index Calculator Our Market Index Calculator allows you a very easy access to calculation the different market indices (CPI, MPI and MPI full) based on your market situation. What are these indices? Competitor Price Index (CPI) is an essential key performance indicator and also usually an abbreviation of consumer price index. However, there are multiple ways different […]

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Market Index Calculator

Our Market Index Calculator allows you a very easy access to calculation the different market indices (CPI, MPI and MPI full) based on your market situation.

What are these indices?

Competitor Price Index (CPI) is an essential key performance indicator and also usually an abbreviation of consumer price index. However, there are multiple ways different organisations calculate their indices. Here are a few for example:

  1. competitor price index (CPI), 
  2. product price index (PPI), 
  3. market price index (MPI) and 
  4. full market price index (full MPI). 

The competitor price index is calculated from products you and your competitor have in common. It is a sum of all product prices you two have in common. Your index is 100, and the index is monitoring competitors against that. 

You compare competitor basket sums to your basket sum. You divide their basket (same products that you and they have) with your basket sum and convert it to an index. Values <100 mean that the competing basket is cheaper than your basket. Values >100 mean that the competing basket is more expensive than your basket. If your competitor has a CPI of 100, your basket price levels are similar. 1 unit in index represent 1% difference. Meaning if a competitor index is 98 they are 2% cheaper.

Instead of adding all product prices in your basket together, (product price index) PPI is calculated by dividing your competitors’ product price by your price for each product. Then the average of these indices is calculated for your competitor.

Market price index (MPI) is calculated as follows. The average sum of all product prices in your competitors’ baskets is used as the base level of 100. We call this the market basket. You compare your basket to the market basket. You do the calculation by dividing the sum of product prices in your basket by the average sum of product prices in the market index. Values <100 mean that your basket is cheaper than the market basket. Values >100 mean that your basket is more expensive than the market basket. Value 100 means that your basket is, on average, priced similarly to all other baskets on the market.

Click to enlarge the tool preview

Fill out the form below to get your Market Index Calculator!

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]]> Master Data Mapping Tool https://www.sniffie.io/tool-for-mapping-master-data/ Tue, 15 Nov 2022 12:00:40 +0000 https://www.sniffie.io/?page_id=51618 Master Data Mapping Tool Our master data mapping tool allows you to create a mapping ID for products between the different systems. Use the ID to plan how you can joint different datasources for your benefit. As most Ecommerce companies are selling many products, an understandable product data structure helps you to succeed in pricing.  When […]

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Master Data Mapping Tool

Our master data mapping tool allows you to create a mapping ID for products between the different systems. Use the ID to plan how you can joint different datasources for your benefit.

As most Ecommerce companies are selling many products, an understandable product data structure helps you to succeed in pricing. 

When you formalize the structure of your master data, everyone can use the same data across all platforms. Formalizing the data includes the following aspects: Product naming, product coding, product categorization, and product groups.

Including the formalized master data structure on all platforms that you use for marketing and pricing such as Google Analytics, your PIM, and your ecommerce platform will allow you to make data-driven decisions. 

Imagine a situation in which you are doing Google advertising for specific products. You can easily add analytic views with harmonized data to see if your pricing supports the marketing. Are your prices competitive and maybe the reason for low conversions? Pushing people to your landing pages to acknowledge a high price isn’t clever. 

To map the relations of the data across the platforms can be done by using the same data structure and by creating a mapping code for all the data. It can be a SKU, product code or any other number that can be used in all systems. With that mapping ID you are able to organise all your data across the platforms. 

Fill out the form below to get your Data Mapping Tool!

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]]> Margin Tools https://www.sniffie.io/margin-tools/ Tue, 15 Nov 2022 09:15:10 +0000 https://www.sniffie.io/?page_id=51565 Margin Tools Margins are crucial in pricing, to mention a few examples: Margins are looked at and used to price products, to analyze pricing data, to analyze businesses’ costs and sales and they can also be used as safeguards in pricing.  Moreover, effective pricing needs clear targets and boundaries.  For example the margin target is […]

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Margin Tools

Margins are crucial in pricing, to mention a few examples: Margins are looked at and used to price products, to analyze pricing data, to analyze businesses’ costs and sales and they can also be used as safeguards in pricing. 

Moreover, effective pricing needs clear targets and boundaries.  For example the margin target is a key figure to identify the lowest or highest acceptable gross margin you want from your products. With margin targets, you can monitor and enforce your pricing performance. A margin target is something your team will aim for (on the high side) and stop their discounts (on the low side). 

Take advantage of our free margin tools to improve your ecommerce product pricing!
Sniffie Margin tools
DOWNLOAD THE TOOLS

Margin Calculator

Use our Margin Calculator to understand how your price is in line with your costs and preferred margin target.

Put in your costs and preferred margin and see what would be an ideal price for your product.

Sniffie Margin Calculator
Click to enlarge the tool preview

Margin Target Calculator

With our Margin Target Calculator it is easy to realize how your price affects your margin target. 

Play around your price and see how the margin target actually works.

Sniffie Margin Target Calculator
Click to enlarge the tool preview

Margins vs Margin targets

This tool allows you to study how margin targets perform against actual margins. The tool also let’s you study how price changes effect periodical margin targets on a weekly level.

Sniffie Margin Target vs Real Margin
Click to enlarge the tool preview

Get full access to all three tools!

Fill out the form and get full access to our margin tools for free! (If you for some reason can’t see the form below try disabling your adblock)

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]]> Pricing Academy https://www.sniffie.io/pricing-academy-sign-up/ Tue, 08 Nov 2022 10:45:29 +0000 https://www.sniffie.io/?page_id=51353 Sniffie Pricing Academy Sniffie Pricing Academy The one place to learn about E-commerce pricing. START LEARNING Pricing Academy Sniffie Pricing Academy is an open and free pricing knowledge platform for Sniffie customers and other pricing professionals to self-educate themselves to the world of E-commerce pricing. Currently, you can complete three separate courses on our pricing […]

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Sniffie Pricing Academy

Sniffie Pricing Academy

The one place to learn about E-commerce pricing.
START LEARNING

Pricing Academy

Sniffie Pricing Academy is an open and free pricing knowledge platform for Sniffie customers and other pricing professionals to self-educate themselves to the world of E-commerce pricing.

Currently, you can complete three separate courses on our pricing acedemy, “Cost and Profitability” and “Compliance and Legal”, and “Master Data” courses. 

The cost and profitability course as the name implies is all about costs and profitability. We go through different types of expenses and how they affect your pricing. In this course, you will learn all you need about costs, margins, sales volumes and discounts.  

The Compliance and Legal course goes through how legal aspects affect your campaign pricing in EU area. This course will go into details about how to tackle the legal compliance issues in your pricing.

The master data course aims to show that having a clear and coherent data structure for your pricing in Ecommerce is essential. With this course and tools we provide you can easily create perfect setup for your pricing and marketing team

Sniffie Pricing Academy

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]]> Discount Campaign Pricing Simulator https://www.sniffie.io/resource-library/discount-campaign-pricing-simulator/ Fri, 16 Sep 2022 18:21:00 +0000 https://www.sniffie.io/?page_id=49397 Discount Campaign Pricing Simulator Use Campaign Pricing Simulator to calculate the outcome between two different campaign scenarios. The campaign pricing simulator uses demand modeling data generated by Sniffie AI. You can select your customers’ price sensitivity and play with different campaign prices to see immediate results. You can modify the demand from extremely price sensitive […]

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Discount Campaign Pricing Simulator

Use Campaign Pricing Simulator to calculate the outcome between two different campaign scenarios. The campaign pricing simulator uses demand modeling data generated by Sniffie AI. You can select your customers’ price sensitivity and play with different campaign prices to see immediate results. You can modify the demand from extremely price sensitive customers, to ones that price has no relevance. 

Once you have selected your customers’ price sensitivity, you have two campaign scenarios to play with. Both campaigns start at 450€. You have 30 days to set the price before the campaign begins to set a comparison price based on EU’s Omnibus Directive. The comparison price is always the lowest 30-day price your shop has offered. The options you have to change:

 

1. Price set before the campaign

What is the price for the 30 days before the campaign?

2. Campaign discount %  

What will be the campaign discount % in your upcoming campaign? 

3. Returned price After Campaign  

What will the price of your product after the campaign?

 

Finally, you can analyze the results between the scenarios from the detailed analyses and see how revenue and profit develop at each stage. Every chart has three highlighted areas. 

Discount Pricing Campaign Simulator

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]]> Customer Lifetime Value Tool https://www.sniffie.io/customer-lifetime-value-calculator/ Wed, 01 Jun 2022 06:32:00 +0000 https://www.sniffie.io/?page_id=46127 Get the Customer Lifetime Value Calculator The Customer Lifetime Value (CLV) is a valuable metric that shows the total amount of money a business expects a customer to spend on products and services. With our Customer Lifetime Value Tool you will be able to easily calculate the lifetime value of a customer and use it […]

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Get the Customer Lifetime Value Calculator

The Customer Lifetime Value (CLV) is a valuable metric that shows the total amount of money a business expects a customer to spend on products and services. With our Customer Lifetime Value Tool you will be able to easily calculate the lifetime value of a customer and use it in your strategy.  

Customer Lifetime Value Tool

Want to know more about CLV?

Read more
Discover how Sniffie can help you with your pricing

Head to our blog to learn more about pricing

Sniffie's Blog

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]]> Strategic Pricing Gateway Tool https://www.sniffie.io/strategic-pricing-gateway-tool/ Wed, 11 Mar 2020 07:58:46 +0000 https://www.sniffie.io/?page_id=19259 Strategic Pricing Gateway Calculator You can use Strategic Pricing Gateway Calculator to understand how your market affects your sales volumes and prices. With our free, easy-to-use tool, you can calculate the profitable price range for your products. You can also use the tool to find  an optimal price point for your products.  With the tool you […]

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Strategic Pricing Gateway Calculator

You can use Strategic Pricing Gateway Calculator to understand how your market affects your sales volumes and prices. With our free, easy-to-use tool, you can calculate the profitable price range for your products. You can also use the tool to find  an optimal price point for your products. 

With the tool you can:

  1. See the price elasticity of your products
  2. See the minimum margin you need from your products
  3. Know the maximum price you can set your products to 
  4. See how you can reach the optimum price point for your products
 
Get the tool and start optimising your prices.
Strategic Pricing Gateway Calculator by Sniffie

Interested to know more about the Strategic Pricing Gateway Calculator?

Read more
Discover how Sniffie can help you with your pricing

Head to our blog to learn more about pricing

Sniffie's Blog

More on our software solutions

Understand what matters

Sniffie identifies automatically the details impacting your product pricing. Understand how much your product pricing is affected by competitors or how much room you have to add premium. When you understand what matters, you know how to react.

Dynamic Markdown Pricing

Have an actionable gameplan

Use intuitive strategies in dynamic product pricing, pricing campaigns and price optimization to react dynamically and make sure you receive the profit you wish. Control and modify your dynamic product pricing while using the data you have to purchase on a right price as well.

Automate best practices

Use machine learning to reveal how product pricing strategies can be improved. Base your dynamic pricing on customer demand and forecast the impact of every price change before you make them. Run campaigns and repeat those in the future.

Grow you profits

Keep your product pricing optimum at all times. Test pricing to find new opportunities to create profitability. Keep control by automating the best practices. Keep your profitability at an optimum level. Always.

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]]> Price Elasticity Tool https://www.sniffie.io/price-elasticity-tool/ Wed, 11 Mar 2020 07:55:38 +0000 https://www.sniffie.io/?page_id=19257 Price elasticity calculator for e-commerce & retail What if you could charge more – and increase margins and sales at the same time? By understanding your product’s price elasticity, you can do this, and more. Use this simple calculator to calculate your product’s price elasticity and understand how price changes affect your product’s price elasticity. […]

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Price elasticity calculator for e-commerce & retail

What if you could charge more – and increase margins and sales at the same time?

By understanding your product’s price elasticity, you can do this, and more.

Use this simple calculator to calculate your product’s price elasticity and understand how price changes affect your product’s price elasticity.

Pricing based on price elasticity is the most profitable e-commerce pricing strategy, so why don’t you get started today?

Download the free calculator

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]]> Competitor Pricing Strategy Analyzer Tool https://www.sniffie.io/competitor-pricing-strategy-analyzer-tool/ Fri, 28 Feb 2020 10:43:29 +0000 https://www.sniffie.io/?page_id=18988 Get the Competitor Pricing Strategy Analyzer The Competitor Pricing Strategy Analyzer is a free Google Sheets tool for businesses to gain a greater insight into the pricing strategies of their competitors. By entering the necessary information about your competitors, you can receive an in-depth analytics of your competitor pricing strategies, with visualised dashboards. With this tool […]

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Get the Competitor Pricing Strategy Analyzer

The Competitor Pricing Strategy Analyzer is a free Google Sheets tool for businesses to gain a greater insight into the pricing strategies of their competitors. By entering the necessary information about your competitors, you can receive an in-depth analytics of your competitor pricing strategies, with visualised dashboards. With this tool you have the knowledge and understanding to effectively compete on pricing and remain competitive in the market.

 

Benefits

Gain insights on competitor strongholds

You can analyze your competitors’ strategies and tactics to understand their strengths and weaknesses. Leverage this knowledge to gain a competitive advantage and capitalize on their successes. Identify opportunities to increase your own market share.

See competitor price levels

See the competitor price levels and understand the market pricing at one go. Studying competitor pricing with this simple tool helps you to understand pricing their strategies and stay competitive.

Understand how the market prices distribute

Gain insight into market pricing and widely it is spread. By understanding how prices distribute across areas, sectors, and demographics you can improve your category and overall pricing.

See how competitive you are

Compate the market prices to your competition and see how competitive you really are. Create pricing strategies that maximize your profits while staying competitive.

Point our strategic and aggressive competitors

See strategic and aggressive competitors from a one view.

 

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Competitor Pricing Analyzer

Head to our blog to learn more about pricing

Sniffie's Blog

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