3 Benefits of Using an Automated MAP Monitoring Tool
Trying to decide if an automated MAP monitoring tool might be right for your business? Check out our reasons you should invest in an automated option now.
As a manufacturer of specialty items, you already know how important it is to keep a close eye on the way retailers price your items. If one seller drops their prices, it’s only a limited matter of time before others catch on, and soon your brand’s merchandise is selling for far less than it’s actually worth.
Minimum advertised price (MAP) policies are the best way to combat this problem because, with proper implementation, they allow you to manage the lowest price at which your retailers can advertise your product without putting you at risk for violating any antitrust laws. But how do you keep up with keeping tabs on all the retailers in the physical and online space without exhausting your resources?
Manual MAP Monitoring Is Not Sufficient
If you’re currently monitoring your MAP policy manually, you’re not able to find and check every retailer out there. As it is, your staff is likely spending a few hours a week during business hours taking a look at the major online shopping locations, such as Amazon and Google Shopping, and spot checking what they can in between their other responsibilities. While this can be better than no monitoring at all, it’s a tiresome and gap-filled way of keeping an eye on things. There is another way that’s quicker, more efficient, and more effective: an automated MAP monitoring tool.
What an Automated MAP Monitoring Process Offers
When you make the switch from a manual to an automated monitoring process, you’re likely to see an immediate difference. Here are some of the benefits you’ll reap from implementing automated MAP enforcement and monitoring:
- Thousands of sites monitored multiple times daily to catch violations right away. This helps you prevent the phenomenon of price cascading, wherein sellers notice one price drop and they all begin to lower prices accordingly. When you’re able to contact the first violating seller before others match that price, you only need to reach out to one retailer rather than dozens. This is especially beneficial on evenings and weekends when many retailers might drop their prices while not expecting you to be vigilant. An automated process allows you to take a quick look at a report to determine violations without needing employees to spend their evening and weekend hours crawling the Internet in search of violations.
- One streamlined system for keeping track of all of your information. Instead of creating and maintaining your own Excel file or other complex system for records such as authorized versus unauthorized sellers, which violators have been contacted, which have now complied with your MAP policy, and what your correspondence with each one has been, your automated system, such as ORIS Intel’s PROWL, keeps all of this information at your fingertips in one intuitive cloud-based location so you don’t lose any time searching for your records.
- More work hours for other projects. You’ll be surprised and pleased at how much more efficiently and quickly an automated monitoring process works than your human employees. Suddenly, much more of your staff’s time will be freed up to spend on their other important work. Your whole business can become more productive with this heavy burden removed from employees’ duties – you’ll all be spending time on what you do best: selling your product rather than looking for violating retailers.
These are just 3 of the many ways that an automated MAP monitoring system can improve your business. Give PROWL a try and see what you’ve been missing without an automated process in place. Contact us to schedule a customized demo today.