Search algorithms do not necessarily seek out the lowest prices and rank them higher in 2024. However, the consequences of having lower prices can increase user engagement, promote return visits, social shares, and help grow organic links. Bundled together, the consequences of having competitive pricing can have a substantial positive impact on your SEO.
You must also recognise the difference between ranking various parts of your website, such as the home page, collection pages, and product pages, and how pricing can impact the user experience.
Just an Ordinary User
Let’s say you are an average Joe, not a brand snob or a Mr. Fancy Pants, just a normal person going about your usual business shopping for a pair of socks.
To you, a pair of socks may be just a pair of socks; for me, they are usually black. You may not be interested in the finer details of socks; you just want a few new pairs because your current socks are full of holes.
You log online and type into the search engine “black socks.” In this real-world scenario, you will see a Google shopping carousel with a range of black socks from different suppliers.
These are, of course, adverts. What we are interested in are the organic results. The top-ranking page in 2024 is currently blacksocks.com. How convenient.
Has pricing helped this site reach the top position? No, other factors are at work here. We have conducted quite a broad search for black socks, so the search engine algorithm is going to show us a website that it believes can best satisfy this search query, and we have been delivered a domain with “black socks” in its name.
If you have been studying SEO, you will understand that this site will benefit from many links with “black socks” in the anchor text, which can provide a boost to its position for this search term.
As an SEO, we cannot tell you exactly why this site ranks at the top, as this is at the behest of search engines and what might be top today might not be top tomorrow.
All we do is interpret the search results and give you reasons why. Google tells us that having an exact matching domain name will not benefit you for a search query of the matching name, but we still see this on many occasions in the current search results. One reason for this could be the anchor text of incoming links screaming and shouting to Google that this site is about black socks, so serve it.
Product Pricing
Now let’s go a level lower and Google “Plain Black Socks.” This is closer to a product-level search as opposed to “black socks.”
The top-ranking page for me now is sockshop.co.uk, which sells plain black socks for £3.99, a bargain.
The next websites in line are Amazon and Marks and Spencer, whose cheapest options are £6.99 and £7.99, respectively.
Here, the cheapest ranks top. If I were in the market for some black socks, I would have purchased them from the top-ranking page as they provided me with the cheapest price. Socks are socks to me.
But when you consider the next two positions are occupied by Marks and Spencer and Amazon, above other sites that also sell plain black socks for cheaper, why is this?
Well, here we have brand influence at play. As I referred to earlier, we get a lot of brand snobs. People only want to purchase their black socks from Marks and Spencer, so they will Google terms like “Black Socks Marks and Spencer.” What happens here is that real people are sending signals to search engines that this company delivers on this product.
So the sheer weight of their brand getting searched followed by a product has added weight to its position in the search engines, and the volume of this could cancel out any benefit of having cheaper prices.
Click-Through Rates (CTR)
One of the most direct ways prices affect SEO is through click-through rates (CTR). When users see your website in search results, the price of your products can influence whether they click on your link. Competitive pricing can make your listing more attractive, leading to higher CTR. Search engines like Google use CTR as a ranking factor, so more clicks can improve your position in search results.
If I see a listing that promises cheaper prices than competitors, we could safely argue this site will enjoy a healthy click-through rate.
User Experience and Engagement
Pricing also affects user experience and engagement metrics, which are important for SEO. If your prices are too high, visitors might leave your site quickly, increasing your bounce rate.
On the other hand, if your prices are competitive and reasonable, visitors are more likely to stay, browse, and make a purchase. Low bounce rates and high engagement levels signal to search engines that your site provides value to users, potentially boosting your rankings.
So the fact you have cheap prices keeps a user on your website and allows for user interaction. It is similar to a cause-and-effect situation, the cause being cheap prices and the effect being increased engagement and other positive SEO signals for search engines to identify.
Social Sharing
Competitive pricing can also encourage social sharing. When customers find a great deal, they are more likely to share it on social media platforms. Social signals, such as likes, shares, and comments, can indirectly affect your SEO by driving more traffic to your site and increasing your online visibility.
You may even find your product listed on other websites as people shout about your product. This can increase the number of links you get from related groups, increasing your domain authority and helping to build a strong, natural link profile.
Impact of Direct Searches
Now, let’s consider the impact of direct searches on SEO and pricing. Imagine you are a loyal customer of Marks and Spencer; you always buy your socks from Marks and Spencer. You type “Marks and Spencer Socks” into Google. The search engine immediately recognises your intent to find socks specifically from this retailer.
In fact, this gets searched 1,900 times per month in the UK:
- Marks and Spencer Socks – 1,900
- Black Socks – 3,600
- Socks – 27,000
Source: Semrush
Here, brand loyalty comes into play. Even if Marks and Spencer black socks are more expensive than those from lesser-known retailers, the search engine prioritises them in the results because it understands that you, as a consumer, have a preference for this brand. This preference is signalled by the frequency and volume of searches combining the brand name with the product. This all acts as a clear indication to search engines that when people are looking for socks, Marks and Spencer is an obvious consideration.
If sell apparel or clothing, having your brand name mentioned alongside a particular product can do wonders for your organic visibility over time. Repeat customers also can be a great source of revenue as it is always cheaper to keep an existing customer than to source new ones.
If you need SEO for your clothes store, Frankenstein Digital look at things differently compared to your run-of-the-mill SEO agencies.
So, Do Prices Impact SEO?
While search algorithms in 2024 may not necessarily rank the lowest prices highest, the consequences of competitive pricing can significantly boost user engagement, return visits, social shares, and organic links, helping you rank on a product level.
Competitive pricing can positively impact SEO, but it is essential to understand how different parts of your website, from the home page to product pages, are ranked differently. Well-known brands can rank higher despite higher prices due to the weight of direct searches and brand loyalty. Thus, while having competitive prices is important, building a strong brand presence and understanding the nuances of search engine algorithms are equally vital for achieving top rankings.
The interplay between pricing, user experience, and brand influence creates a complex landscape to navigate. However, once you understand the dynamics at play, businesses can optimise their strategies to improve their search engine rankings and overall online presence.