See Sniffie in action
Here's what pricing automation looks like
Set rule-based pricing strategies and easily add safeguards such as minimum margin target. You can easily view the predicted price changes before approving and make an informed decision based on the data.
Here's how pricing automation can improve your pricing
Base your pricing strategy on market or internal data
Easily set pricing strategies based on market situation, statistics or a combination of these and change prices with our pricing tool. Sniffie will suggest price changes when there is a chance to optimize your profits.
Schedule strategies and one-off campaigns easily
Set a timeline for your entire pricing strategy or one-off campaigns with start and end dates, schedule them in advance and have full control of the situation with an up-to-date calendar-view of all your campaigns.
Adjust pricing rules easily with full transparency
All pricing strategies can be edited and removed easily. You are also able to view a log of changes made to your pricing strategies by each team member.
Get real-time pricing recommendation
Get price recommendations for your approval before going live, or choose automatic price updates that Sniffie pushes to your online store.
Pricing automation benefits your whole team
Imagine being able to concentrate on reacting to the data that matters in your day to day decision-making? Is manually going through every competitors’ websites and changing prices in your outdated PIM, or Excel sheet by hand really what you’d like to do?
Consumers have taken the control with their smart devices and are tuning out improper pricing. As a product manager, you want to make sure your category management is boosted with true market understanding and always live and up to date.
Carve your pricing strategy in stone and get your team to follow it. Understanding the market is always the key to success. Understanding how to price your products will help your team to keep the pricing strategy live according to what you have outlined with the management team.
Forget the manual, tedious Excel preparations and start using state of the art tools that let you become the insight guru in your company. We have been using Market Analysts to develop our software analytics and that is why our analytics are easy to understand and effective to use.
Frequently Asked Questions about rule-based pricing automation
Pricing automation means that a company uses automated strategies, workflows and processes to automate their price monitoring, pricing and price optimization processes. Often also price automation processes include integration with ecommerce platforms such as Shopify and marketin platforms such as klaviyo, Custobar or Google Shopping.
Absolutely. Our Pricing Automation tool has a Manual Pricing column where you can change the price of a product in the price matrix. The column also shows competing prices, always in the same currency as yours, and differences in competing prices in totals and percentages.
Yes. Either as per the algorithm we have created or according to your own strategies. Sniffie will suggest a new price for your product based on market pricing. You can change the price, approve it or dismiss it while waiting on a new one.
Yes. You can easily view the difference in price in the chosen currency compared to your price. That can be done in Price Matrix for example.
Yes. Our pricing automation module gives you the competitor price difference in price as a percentage to your price. It also shows you how much you are doing margin on each price point.
Yes. Sniffie shows you the margin icon as green, if you have covered your margin target, if red you have not reached your margin target. While using our advanced strategies you are also given a clear indication on how much the margin is and how it is changing with you upcoming price change.
Well, every price change is relevant to actual market situation. That said, we have build a tool that sees on statistical level if the customers are likely to notice the price change. There is an icon that tells you whether customers are likely to notice the price change. This is a positive thing (green) if you are decreasing price and something to avoid (red) when increasing the price.
Yes, to that extent it can. There is an icon that gives you information about your price change based on Weber’s Law. If this is green or grey, you have no worries. If this is red, please read the following. According to research in psychology and Sniffie’s pricing AI, customers are likely to stop buying if you increase the price this much at the same time. We recommend you spread out the price increases into smaller increases over a period of time so customers won’t notice them so clearly.
Yes, when manually changing prices you can set as low as you want. That is why there is an market minimum icon that is green if your price is higher than the market minimum. That is a good position to be in.
Yes, when manually changing prices you can set as high as you want. That is why there is an market maximum icon that is green if your price is lower than market maximum. That is a good position to be.
Yes it does. The appealing price point icon tells you if according to Sniffie, your price is appealing.
Absolutely you can. You just select the products you want a new pricing strategy and then set how. There is a simple and intuitive workflow to do that.
With our Quick slicer in Price Matrix you can easily see the products where your store is the cheapest.
Yes, the Pricing Matrix gives you the ability to download the Pricing Matrix in matrix format or list format as a XLXS or CSV.
Yes. Just filter down to level you wish to view your pricing matrix. This can either be done by using the active global filters or with local filters which you are able to save and access again easily whenever you want.
Absolutely. Just sort your pricing matrix view in a way that shows your price relative to market minimum.
Naturally you can. Things change and so should pricing strategies as well. Sniffie will set you a simple question that do you want to override you current pricing strategies once you start and the product you chose has a pricing strategy already. If you continue, the action overrides your current pricing strategies for selected products and lets you create new ones.
Yes you can. The strategy tool gives you the opportunity to apply already created strategies for your selected products.
Here are the main ones. Margin target needs to be met is of course one. Sniffie makes sure your margin target is met despite the active pricing strategy. This tool is useful if you use strategies that run a risk of lowering the prices like “follow market minimum” etc. Sniffie also makes sure your price must be lower than market maximum. If you often use strategies where you “follow competitor X” you might still want to make sure you are never the most expensive on the market. That is not a good place to be. There is also a safeguard of same kind of being higher than purchase price and market minimum. Finally the one really important that you should not override is human confirmation.
Optimally, you want to make your active strategies permanent. There is a selector for making sure your strategy is active and applied until it is removed.
Yes, you can set your strategy to a target value on the market you are following. Choose between:
1. Market minimum
2. Market maximum
3. Market average
4. Market median
5. Match margin target
Yes. Our pricing automation system gives you the opportunity to name a competitor that you want to match a price to and apply the pricing strategy accordingly.
Yes. First of all you can set as complex rule sets as you want. Finally you can top it with a pricing rule on rounding and make sure it is psychologically appealing but letting Sniffie take care of the rounding of decimals depending on the situation. So this means you can say that round always to closest valid .99 price.
Yes. Sniffie lets you name a group of competitors that you will then monitor and follow with following aspects:
1. Market minimum
2. Market maximum
3. Market average
4. Market median
5. Match margin target
Absolutely you can. Sniffie’s AI solution SAMPO uses machine learning to find you the most profitable price point for your product. The machine works by trying small changes in prices over a time period until settling for the most profitable option, all the while testing if a better, more lucrative price can be found. Doesn’t matter if it is a price optimization case or products with s short shelf life. SAMPO will optimize the price.
Yep. There is a timeline selector that lets you to choose a time period for your strategy. Unless specified, action repeats infinitely.
We have created a market simulator. It simulates visually the market and how your strategy will react on market changes from market price rising to a market price crash.
Yes. Choose the products you want to set in campaign and set the strategy as a campaign so that the active time has a start and end-date.
Yes you are. You are able to view your previous price in Sniffie with an integration to your website. Just set in the setting that will it be shown or not. Also you can show a banner promoting your campaign on your website through integration or discount percentage.
Local filters will do that. With those you can filter down pending pricing confirmations that belong to you. Use SKU’s, Your name or any other important features you have set in your master data and those products will be filtered down.
Sniffie’s product catalogue is a catalogue containing all the users products that have been imported into Sniffie. This is where the master data used in all the analytics is shown and can be edited. Organize data fields in your Sniffie account. Select the information you want to see in analytics, discard other information and keep working with only the data that matters to you.