Details of Profit Peak settings
Below describes each of the Profit Peak settings.
Child ASIN Sync
If you're product has multiple child ASINs (or siblings), you might want to have the pricing in sync with each other. Furthermore, you might want to have different groups in sync with each other, and others have pricing set independently of the rest. Entering in a child ASIN sync group name allows you to group specific ASINs together, such that the pricing will always be the same. Each child ASIN in the group can have different cost/fees, however, the min/max price options must be the same. If the child ASIN sync group field is left blank then Profit Peak will price the child ASIN independently on its own - this means prices will for the most part be different to the rest.
There are times when the child ASIN sync option should be used and times when it shouldn't. For example, if you sell blue and red products, but blue is significantly more desirable than red then it might be worth having Profit Peak run independently from each other, because blue would likely be priced at a higher price than red. However, if the demand is similar among your child ASINs then you can have the pricing in sync with each other, which would likely reduce any confusion among your customers.
Min / Max Prices
Firstly, it is worth noting that Profit Peak will use your fees and costs for each of your products to ensure you always sell at a profit - we have multiple checks we implement before we update your pricing through MWS.
The minimum and maximum pricing is the absolute limit you are willing to sell at. This does not represent how rapid the fluctuations of test prices are, so having a large difference between the min-max will not mean massive price jumps. It's best to allow around 25% price difference, to allow Profit Peak some room to optimise. Again, Profit Peak will rarely ever test a new price 25% from the current optimum, however, if your optimum price starts to gravitate towards a specific value then the min/max values would be the absolute limit for testing.
Stock Deplete Date
If you are concerned about running out of stock, and would like to deplete stock after a specific date then enter this date in the stock deplete date option. If your product begins selling too fast then Profit Peak will slowly increase your prices to reduce the number of sales. If your product then sells too little, Profit Peak will automatically reduce your pricing back to what it was before and so on. This only happens if the sales rate of your product exceeds the threshold for the target stock deplete date.
Rank Booster Keyword & Target
When talking to customers on Skype, we always hear stories of how they have to reduce their pricing because they have slipped in ranking. This is very time consuming, because one has to check manually every week to see their rank position.
Profit Peak can help you achieve a target rank for a specific keyword, or, if you are already ranking for that keyword it can help you maintain it without doing anything. With our rank tracking feature, we track the keyword rank for your products and incorporate this information for Profit Peak to use. If your ranking slips, Profit Peak will slowly begin lowering your pricing to encourage more sales. When you have more sales, typically your ranking will go up. There are many factors however that can effect your ranking, for example number of reviews, the reviews score, keywords used etc. Profit Peak isn't the be-all end-all solution to help you maintain or achieve a target rank, however, it certainly does help by automatically dropping your pricing to assist with a rank boost. If the price drop improves your ranking to your target, Profit Peak will begin optimising as per usual once again.