Amazon Sponsored Ads management tool Teikametrics Flywheel has added a feature which automatically adjusts sellers' bidding strategy.
The hourly bidding algorithm is powered by an econometrics and a machine-learning data model that allows Amazon advertisers to automatically adjust bidding strategy quickly, minimize wasted ad spend, and adapt to changing marketplace dynamics. This takes advantage of Amazon's recent ad update that significantly reduces lag time in reporting advertising performance data.
Being able to calculate the most profitable bid on an hourly basis allows Teikametrics' platform to proactively invest ad dollars where the algorithm predicts the highest return on investment. Keywords and ad groups with high traffic volumes and competitive auctions, such as consumer electronics, household items, and apparel, are among those that will benefit the most during the first few days of bidding, during which time wasted ad spend can be curtailed by up to 50 percent.
Even sellers whose product keywords have fewer search activities and less dynamic ad data history will benefit substantially from Teikametrics' hourly bidding capability, which offers them access to up-to-the-moment information about advertising performance. With this new feature, Teikametrics' clients can also explore winning auctions and experiment with more aggressive bidding strategies to extract keyword performance information quickly.
"Amazon is quickly gaining ground on Facebook and Google as a leading online advertising channel," said Alasdair McLean-Foreman, CEO and founder of Teikametrics. "In a marketplace as dynamic and competitive as Amazon, reaction time is critical. Teikametrics' hourly bidding algorithm is the first solution to enable brands to react to statistically significant changes in their Amazon ads data with hourly granularity. This is another major milestone in our ongoing mission to help brands maximize profit on Amazon."
Teikametrics Flywheel combines advertising data, transaction data, and cost of goods sold to algorithmically optimize advertising profitability. Teikametrics has more than 2,000 clients, who have generated an average of 34% more revenue within 60 days of starting on Teikametrics' platform.
Amazon selling tools provider Teikametrics has a new pricing structure for smaller Amazon sellers.
The Jumpstart program gives access to Teikametrics' suite of tools which provide data to help sellers grow their business. Merchants also receive a custom plan drawn up by a customer success manager, and support from a dedicated account manager and customer service team.
The cost is a $1200 setup fee (56% off), and 1.5% of monthly FBA revenue (up to 60% off) with a minimum cost of $990 per month.
The Teikametrics Jumpstart program was launched as a limited offer in July, but has now been extended indefinitely.
Lab Escape's software creates "heat map" data visualisations and is used by companies including Wal-Mart, Costco, Dell, and US Army. Lab Escape founder Trevor Lohrbeer will join Teikametrics as Chief Data Scientist.
The company plans to incorporate Lab Escape's data visualization technology into its tools for Amazon sellers.
Marketplace Repricing: The Ultimate Guide explores the subject of automatic price adjustments on marketplaces such as Amazon and eBay.
Topics include how to get started, how repricing differs between marketplaces, avoiding the “race to the bottom”, and repricing tools including ChannelMAX, RepriceIt, Price Spectre, Mean Repricer, Appeagle, BQool Repricing Central, RepricerExpress, Marketplace Repricing, WisePricer, FeedVisor and Teikametrics
Amazon marketplace repricing tool Teikametrics has announced a feature of its algorithm which detects (and negates) Amazon API data glitches.
Teikametrics claims Amazon frequently experiences delays, outages, and apparent data glitches for product updates and price adjustments, which can have a dramatic affect on automated repricing if not correctly handled. By a process of "data imputation" their system can fill in missing information and address mismatches in Amazon API data.
Teikametrics Amazon Repricer has been updated and now claims real-time Amazon repricing.
A redesigned repricing engine using Amazon's Marketplace Web Service API function is able to react in near real-time to competitor's price changes, providing an advantage over retailers who are slower to update prices.
Other features in the release are a redesigned user interface, Fulfillment by Amazon (FBA) optimization, and pricing criteria including fulfillment type, competitor IDs, and Buy Box or lowest featured merchant strategies.
The developers of Amazon repricing solution Teikametrics are working on a new version, codednamed "Bonchon".
The update will have a redesigned analytics engine, provide faster pricing updates, have a new UI and pricing rules management area, and allow bulk update of product settings.
Amazon repricing service Teikametrics is offering sellers a free consulting session with an e-commerce expert over the phone.
The session evaluates the performance of a sample of the seller's Amazon listings, and then provides an action plan. Sellers will learn what percentage of their listings win the Buy Box, how competitive their listings are, which products would be profitable at the Buy Box price, and more.
"We launched Teikametrics to help Amazon sellers become more competitive, increase profits, and save time," said Alasdair McLean-Foreman, CEO of Teikametrics. "The service that our Boston-based software team has developed gives Amazon sellers using our tools a clear advantage over other repricing methods. With the promotional offer, we are offering a risk-free opportunity to any Amazon Pro seller to see the possible performance improvements that can be achieved through effective repricing."
The free consulting offer is available for Pro Merchant Amazon Sellers at teikametrics.com/pricingreview.
- Feedvisor Amazon Repricer analyzes the competition and identifies a repricing strategy to win the Buy Box.
- PhiConnect Order & Inventory Management is an order processing and inventory management solution for eBay, Amazon, Volusion, Magento, PayPal, Yahoo Store and storefronts.
- SellerSoftware.org is a free web-based eBay and Amazon management solution - the first since Auctiva began charging.
- ShipStation is a web-based shipping solution for eBay, Amazon, Buy.com, Etsy and PayPal.
- Teikametrics Amazon Repricer has features including repricing inclusive of shipping costs, customizable rules and pricing strategy, exclusion lists and FBA repricing.