Smart Pricing Assistant

Kinguin Guidelines for Merchants: Smart Pricing Assistant

The Smart Pricing Assistant (SPA) is a tool that helps you increase your sales by automatically changing your prices. SPA makes it easy to set the right prices so you can compete with other offers and earn more money. This section explains how SPA works and shows you how to use it well with some examples.

For whom is Smart Pricing Assistant?

Smart Pricing Assistant works for sellers using both the dashboard and the API. If you want to know about SPA with the API, you can check our technical documentation. But here, we'll talk more about how it works on the dashboard. If you use the API, you can skip to the part that explains how it works there.

How to use it on the Dashboard?

If you're a seller on Kinguin, you can use SPA right from your dashboard. To do this, go to the Offers tab. You have two choices. You can pick one offer and click "Activate" in the Smart Pricing column, or you can choose several offers by ticking the boxes and clicking "Smart Pricing Assistant."

Both buttons will open a little window where you need to fill in some details to control the prices. You can also see the history of price changes done by SPA there.

You can also find the history of price changes in a different section on the Offers dashboard. We'll make it better in the future, but for now, you can see all the settings for offers with SPA turned on.

What are the main settings of SPA?

To use SPA for an offer, you'll need to tell us two main things:

1. Cost per key: This is how much it costs you for each product key.

2. Minimum profit: This is the smallest amount of profit you want to make. It's like a baseline for the lowest "I Want to Receive" (IWTR) price and the lowest customer price. SPA won't make the prices go lower than this when you're competing with other sellers.

There's another important setting called "maximum IWTR." It depends on the cost per key and your maximum profit. This sets a limit on how much the price can change. Our system doesn't just lower prices; it can also increase them if there's room for better prices. When you first enable SPA, this maximum level is set to your current price by default. We think you don't want to be more expensive than you are now, but you can change it if you want to.

How does SPA work?

SPA competes with other sellers in two main ways, whether they adjust prices manually, use SPA, or an external system. The price changes happen instantly.

1. Lowering prices by 0.01 Euro:

This is pretty simple. When you turn on SPA and set the lowest possible price, our system will always try to be 0.01 Euro cheaper than the lowest price. It doesn't mean your price will instantly drop to the lowest possible price. It means SPA will aim to be 0.01 Euro cheaper than the current lowest price. If you can't be the absolute cheapest, SPA will compete to get the best available spot in the offer listing.

2. Increasing the price up to the available level:

There are a few scenarios in which SPA can increase the price. Typically, if your offer is in the first position and SPA sees that the second price has gone up, it will follow that offer. You'll always stay 0.01 Euro cent cheaper, and the price gap won't happen. We do this to help keep your profit margins safe.

What are the best practices for SPA?

The best tip we have is to automate as many offers as you can. It's a dependable system. With its abilities, you can relax or take a break for a weekend, and your offers will be as competitive as you want them to be.

To automate lots of offers, just use the bulk Smart Price Assistant button on the Offers dashboard.