Why You Need an Automated MAP Enforcement Tool Today
Think back to when your company established its minimum advertised price policy (MAP policy). What was your reasoning? Your goal probably involved keeping better tabs on the prices retailers were advertising your products. But if you haven’t been monitoring or enforcing your policy, it isn’t doing its job – and neither are you. Here are just 2 vital reasons you should begin monitoring and enforcing your policy right away.
- MAP enforcement allows you to effectively forecast future revenue. As it stands, without enforcement, not only are retailers able to advertise your product for any price they choose, it’s also possible for any seller to offer your products. Anonymous sellers who have no relationship with you might bring in some profits for now, but you can’t count on them to be there in the future, and you can’t factor them into your projections. If you do, you risk suddenly losing a significant chunk of your forecasted revenue.When you enforce your policy, you weed out unauthorized sellers, so that you know exactly who is selling your products at what price, allowing you to much more accurately plan for the future. Taking this long-term view lets you generate sustainable revenue, and thus you can be confident in your projected numbers and future growth.
- MAP enforcement illuminates the value of your products. When sellers are free to advertise your brand’s big-ticket items for any price they choose, your product can lose its perceived value very quickly. If your company manufactures high-quality, durable, and reliable products, the quality drives its price. But if retailers suddenly begin advertising your products at a price similar to what a consumer could get a lower-quality product for at a discount store, shoppers will have no reason to believe that your product is the better choice.If, however, your price policy is consistently monitored and enforced, your product’s advertised price will remain the same across all channels. This means that your target customers continue to perceive your brand as a premium product in the market. Pricing needs to support your premium brand’s image.
Why Automate the Enforcement Process
By now you understand why it’s essential to your business to start enforcing your MAP policy. But why not have a couple of employees check the Internet manually or monitor just the large online marketplaces?
Because the size of the Internet and the fact that prices are always changing, no human can possibly provide full Internet brand protection, no matter how hard a worker that person may be. It’s not uncommon to see prices change multiple times in a day, especially on Amazon. Plus, checking during business hours does not catch those sellers that play pricing games on weekends or after 5pm. Unauthorized sellers and MAP violators will inevitably get overlooked with a manual monitoring process, and this can lead to devastating consequences for your business. Only a small percentage of retailers advertise on paid comparison shopping sites like Google Shopping. If you are relying on Google Shopping to catch MAP violations, you are going to miss the majority of the retailers selling your products online. Pricing can often be outdated on these sites and not reflect the most recent change on the retailer’s website.
Instead, with an automated MAP enforcement tool such as ORIS Intel’s PROWL, the system crawls the Web several times a day so you don’t have to and provides you with a streamlined report of everything you need to know about retailers violating MAP. This frees up your time and allows you an easier way to track MAP compliance and get in contact with violators immediately to resolve issues.
Learn more about how PROWL works and discover why it’s the best choice for your business.