Amazon News: Teikametrics, the leading provider of Amazon marketplace optimization technology, has released Teikametrics Sponsored Products Optimizer, the world’s first machine-learning optimization algorithm for Amazon Sponsored Products.
Amazon continues to dominate online product search, with an estimated 60 percent of consumers now beginning their search on Amazon.com. In 2016, Amazon generated an estimated $1.2bn in revenue from its digital advertising business. The Amazon Sponsored Products platform is a solution offered to all Amazon third-party marketplace sellers via the existing Seller Central interface. Sellers can use Sponsored Products to promote their products in Amazon product search results, competitive Amazon product detail pages, and across the Amazon consumer shopping experience. The Sponsored Products model uses a Pay-Per-Click (PPC) advertising model allowing sellers to bid on keywords associated with their products.
The Teikametrics Sponsored Products Optimizer provides Amazon sellers with a competitive edge on Amazon Sponsored Products by:
- Eliminating wasted advertising spend
- Discovering new keyword opportunities
- Maximizing the return on your top performing keywords
- Automating keyword bids using a proprietary algorithm
- Visualizing your data in an easy-to-read dashboard
Teikametrics Sponsored Products Optimizer is a SaaS platform available to all Amazon third-party retailers. Sellers are able to sign-up for expert onboarding from the Teikametrics’ team of Amazon optimization experts at http://sellers.teikametrics.com.
“Amazon Sponsored Products is a critical piece to any Amazon third-party retailer’s optimization playbook,” said Alasdair McLean-Foreman, CEO and founder, Teikametrics. “Amazon Sponsored Products give retailers, especially independent brand owners or retailers with exclusive products, a tremendous opportunity to gain immediate visibility to over 300 million consumers. Amazon sellers who execute an effective Amazon Sponsored Products strategy see a higher a conversion rate and an increase in overall Amazon Sales Rank which creates a flywheel effect, thus lifting paid and organic conversions and performance.”
“Sponsored Products is an intriguing, multi-dimensional optimization problem that you can’t solve without the ability to handle very large data sets,” said Aatish Salvi, CTO, Teikametrics. “Unlike typical ad-tech solutions, we’re looking at more data points than just search bids versus conversion cost to help sellers optimize. The decision to raise a bid or a budget, or choose a keyword related to a given product needs to consider factors like how much you have in your warehouse, how long it will take to re-supply, shifts in pricing or Cost of Goods Sold on a basket of SKUs and the likelihood of winning the Buy Box, to name but a few. The problem is deeply aligned with Teikametrics’ core mission to help sellers use data to win. We’re excited to have been the first to release an algorithm-based platform that automates the steps required to execute a winning Amazon Sponsored Products strategy. Our sellers have been thrilled with the performance and edge we’re providing.”
Teikametrics is an ecommerce optimization platform for retailers on Amazon and other marketplaces that manages billions of dollars of third-party retailer transactions. Founded in 2012 and based in Boston, its team of retail experts uses a proprietary software suite to dynamically optimize pricing, operations, inventory performance and more for sellers of all sizes. Using historical data and machine learning, customers such as The Vitamin Shoppe, Newbury Comics and City Sports gain a competitive advantage and view of trends and optimization strategies to tackle the dynamic nature of today’s ecommerce markets. For more information, visit teikametrics.com or follow the company on Twitter at @Teikametrics.