What is it?
The Stand Tall strategy is where clients use the real time capability of the Edge product to
INFORM THEIR PRICING DECISION MAKING, especially when competitors are moving
DOWN in price.
What are we trying to achieve?
We will be looking for opportunities to MAINTAIN our site’s price versus the competitors in
the area who are DROPPING theirs, thus being able to maintain a higher margin for longer,
versus our competition. More volume at a larger margin = more profit.
How do we Implement?
Once you notice competitors in the area dropping their price (or perhaps the price of oil has
dropped and the market is competitive) you then WAIT.
Previously retailers would be in a rush to match their competitors prices for fear of missing
out, but with Edge, you can monitor the VOLUME, PROFIT, and MARGIN, in real time in
order to decide when is the best time to make a move for your business.
FOR EXAMPLE:
A competitor down the street had a pole sign price of $4 yesterday, but today they have
dropped it to $3.90 in a bid to attract more customers and volume.
From an Edge customer perspective, it is a missed opportunity to follow them to the same
price (or close), so we wait.
Every single transaction that takes place from that moment on is at a higher margin than it
otherwise would have been, had the Edge customer blindly followed his competition.
The Edge retailer would then simply monitor his site VOLUME on the STATION PAGE and
identify the performance. The Edge App also comes with handy markers and indicators as to
whether the volume is UP or DOWN.
A DECREASE in volume may be a sign that the market is reacting to your higher price, and
therefore now may be a good time to follow the competition down.
An INCREASE or SIMILAR volume may be a sign that you can continue to operate at the
higher margin without impacting your volume.
How long does it take?
The Stand Tall strategy is one you can implement almost immediately with swift results. As
you are reacting to the market in real time, this strategy is helpful in taking advantage of
swings in the market that would otherwise be unachievable.
