- Followprice is a digital marketing tool for e-commerce stores, allowing customers to track price changes on their favourite products.
- Aiming to optimise the online shopping experience, Followprice tackles challenges for both consumers and online retailers.
- The text-based tool creates a bridge between hesitant consumers and online stores, increasing customer engagement and product sales.
- Though currently a simple button integration, plans for list organization, list sharing between users, and consumer-focused statistics are on the horizon.
The realm of e-commerce is vast and competitive. Online stores are constantly seeking out new ways to maintain a competitive edge by providing better user experiences. One startup that seems to stand out in this regard is Followprice. Headquartered in Lisbon, Portugal, Followprice is the brainchild of a talented team of founders aiming to disrupt the traditional e-commerce space. It aims to drive online sales and lead generation by allowing customers to follow their favourite products and receive notifications of price changes.
Primarily, Followprice claims to solve major issues faced by both consumers and online retailers. On one hand, consumers often hesitate to register or share their email addresses with online stores due to SPAM concerns and lack of structured price updates. On the other hand, online retailers struggle to keep consumers engaged when they exit without purchasing or registering. This is where Followprice steps in, acting as a bridge between the consumers and the online stores.
What sets Followprice apart is its simplicity and effectiveness. The startup’s solution comes in the form of a ‘Follow Price Button’ that can be integrated on e-commerce websites. When a customer clicks the button, the product is added to their Followprice list. Whenever there’s a change in price, all consumers tracking the product automatically receive a notification via Facebook or email. This approach not only eliminates SPAM for consumers, but also drives high-quality leads back to online retailers. In essence, it leverages consumers’ interest in specific products, driving them back to the e-commerce store for potential purchases.
Followprice also benefits online retailers by providing them with advanced statistics and heightened social media brand awareness. In the future, the team plans to allow list sharing and organisation among users, creating a more dynamic experience. The potential for such specialized notifications (not automatic) could significantly personalise and enhance the online shopping experience.
In terms of the future, Followprice appears poised to accelerate the evolution of the e-commerce industry. The startup, if it continues to successfully optimize the online shopping experience, could play a crucial role in revolutionising the e-commerce industry. By bridging the communication gap between consumers and retailers, it opens a window of opportunities for e-commerce stores to convert more leads and close more sales.
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