Price Monitoring Service

Price Monitoring Service Success Stories [2024]

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Updated: October 10th, 2024

Tired of endlessly tracking prices manually? You might want to consider starting a price monitoring service. This business involves helping companies and consumers monitor the fluctuating prices of products and services, providing valuable insights that can lead to significant cost savings.

With a price monitoring service, your clients can stay ahead of their competitors by keeping tabs on market trends, identifying the best buying times, or spotting potential price hikes before they happen. It's a service that adds tangible value to both businesses and individual shoppers.

To get started, you'll need to develop or invest in specialized software capable of scraping and analyzing price data from various sources. Then you'll spend time setting up the system to deliver frequent, accurate updates. Though the initial setup can be intensive, once established, it can be highly automated.

If the idea of working with data and offering a service that provides real, actionable insights appeals to you, a price monitoring service might be your next venture.

In this list, you'll find real-world price monitoring service success stories and very profitable examples of starting a price monitoring service that makes money.

1. ElectricityRates.com ($4.2M/year)

Rob Rex, the founder of Power Target, came up with the idea for his business after noticing the rising popularity of online aggregator platforms and the emergence of energy deregulation laws. Seeing an opportunity to apply the successful performance marketing framework to the energy industry, Rob founded Power Target and launched their online energy comparison site, ElectricityRates.com. The platform's core principles included being fast, simple, trustworthy, and user-friendly, and through constant testing and optimization, Power Target has achieved steady growth and attracted and retained customers through channels such as paid search, content and SEO, email marketing, and social media.

How much money it makes: $4.2M/year
How much did it cost to start: $15K
How many people on the team: 4

We Built A Comparison Website That Generates $350K Per Month

Power Target LLC, with an average growth rate of 20%, is a successful energy company that developed an online energy comparison marketplace called ElectricityRates.com, which has an excellent, 4.6-star rating on Trustpilot with over 1000 reviews, and allows users to compare competitive energy offers from providers and enroll through their fast, simple, and secure process.

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2. Estii ($120K/year)

After struggling with the complexities of project estimation at Deltatre, David Peek and Dom De Lorenzo saw a gap in the market for service-based pricing tools, leading them to co-found Estii. They've since helped clients secure over $8 million in new business and grown their revenue to $20K USD/month within a year.

How much money it makes: $120K/year
How much did it cost to start: $20K
How many people on the team: 0

Our Pricing SaaS Has Helped Customers Make $8M+ Since Launch

Estii, an estimation and pricing platform for service providers, has helped customers win over $8 million in new business and currently sits at over 50 active workspaces and $20K USD/month in revenue.

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Read by 1,252 founders