BOBOonline x PriceShape
The motivation for acquiring PriceShape was initially that we wanted to optimize our setup on our Google Ads - being able to bid more for the products, where we have the best price position on the market, and additionally bid less on the products, where we are less competitive. When we are able to drive dynamic prices, we stay competitive against our competitors.
The growth in our Ads has been done without experiencing a decrease in our ROAS and helped grow our revenue and improved our profits as well.
Having access to these key features like setting up pricing strategies has certainly grown our Ads account, which was our reason for acquiring PriceShape in the first place.
Additionally, PriceShape provided us with a complete overview of how we are doing on our pricing and our margins on our products, also helping us negotiate better cost prices from our suppliers. The insights we have access to in our dashboard enable us to show them our price position - this fosters great conversations about our price positions, price optimization, and general setup with our suppliers.
Key numbers
- Number of products/item numbers: 25.000
- Number of products/item numbers in PriceShape: 9.352
- Number of products that are connected to a price strategy in PriceShape: 6.500
- Number of price changes made automatically by PriceShape in one month: 15.188
User-friendly platform
The service PriceShape offers through their platform makes it very effortless to follow how we are positioned with our prices compared to our competitors, and it makes you want to actually use the platform.
The difference is the overall service, features, and user-friendliness, which is just a notch better than other providers. Using the data in our marketing setup to optimize prices and use it in contact with our suppliers and in general in all purchases. I don't know of any other providers, who can do it just as well and we HAVE researched the market.
Easy onboarding
Meetings with the customer success manager have sharpened our further work with the account, getting all the help we need from PriceShape when introducing new features such as dynamic prices and dynamic tags.
After integrating our PriceShape dashboard with Google Analytics, we can also use the insights from PriceShape in our marketing choosing which products to incorporate in newsletters, social media, etc. according to how we are positioned on price, profit, and what the conversion rate is on a product.
Future Plans
"Our plan is to continue with what we do and keep optimizing. Once we get settled in Sweden, we will copy this setup and implement it there"
Customer Introduction
BOBO is an online furniture store with 25,000 item numbers divided between both furniture and home accessories. We are 10 full-time employees in the company right now. We have been up and running since 2016 and have grown nicely every year since our beginning. And we have big plans and a clear vision to become the Nordic region's best online furniture webshop. We operate in Denmark, Sweden, the Faroe Islands, and Greenland. Our plan is to enter all the Nordic countries working from our headquarters in Aalborg, Denmark.
Watch how Nicolai & Christian speaks about the collaboration with PriceShape here;