One solution I've seen (probably on a swimming pool pump) is a little cheaper but I'm not a great fan of it.

It uses one level sensor and a timed relay module. When the level indicator triggers the pump, it merely pumps for a timed duration during which the level indicator is ignored.

When the timed period is complete, it returns to its initial state and if the level indicator is still active, it does another cycle. In this case, the hysterisis is the timed run of the pump.

Choosing the timing and level right determine how often the pump will be cycled on and off, effecting its lifetime.

I'd consider this approach the baseline design. Its probably cheaper and most power flexible. I personally don't like blind-feedback systems but they work well enough for most applications.

aka J