When a business is a leader in its category, it’s uncommon to see them expand into uncharted territory. But, that is exactly what leading repricing software, Appeagle, is about to do as they dive into the world of seller analytics.
In recent times, repricing has matured, thanks to it being simpler to automate and the technology behind it becoming more advanced. So, Appeagle wanted to see if there were any other parts of a seller’s business that they could enhance. There were. By building brand new analytics tools, they could help online sellers make better decisions.
Appeagle have marked the change of direction with a new name and a new brand. They are now Informed.co, and their ambition is big – to be seen by ecommerce businesses in the same way that website owners see Google Analytics: the go-to source of data about their business, with intelligent insights and recommendations.
From Appeagle to Informed.co
The idea behind Appeagle surfaced when co-founder Koby Kasnett started selling on eBay, as a side business. With a background in web development, it wasn’t long before he started looking for ways to automate the selling process and identified his biggest pain point: updating prices to keep up with the competition.
Ironically, it was Amazon repricing that would become Appeagle’s main focus, as soon after deciding to create a repricing tool, Kasnett, along with co-founder Aaron Cohen, started exploring Amazon. What they found was a great opportunity, as there was a real hunger from businesses for repricing software.
Now though, after many years in the repricing game, the founders have decided to broaden Appeagle’s horizons, and since March 7th, they have been known as Informed.co.
The change of name comes as part of a wider vision that, over time, the business will become known for more than just repricing. Informed.co wants to become a one-stop shop where sellers can see a range of data and receive real-time insights and recommendations, to help them make the best decisions possible.
What’s different for users?
As part of the brand launch, the Informed.co web app will have a fresh new interface and a number of improved repricing strategies.
One of these is a major development for private label sellers. In the past Appeagle has concentrated only on listings with direct competition, but now they have created a new Sales Velocity Repricing algorithm that can produce better results for unique products such as private label items. This approach allows customers to view the 30-day sales velocity (units sold) for any listing in their catalog and set a target to either raise, lower, or maintain it.
The algorithm’s secret sauce is to use all available data, including historic order volume, sale prices, and other offer data to determine the best possible price that allows merchants to hit their target sales velocity. If needed, experimental price changes are sent to the marketplace to allow the algorithm to understand the effect of that change and adjust accordingly.
Sales velocity repricing ultimately lets the market determine the sweet spot for pricing, and Informed.co expects it to help private label sellers, as well as merchants looking to sell down their inventory before a specific date.
Another major change is that they’ve gone back to the drawing board with their “Get the Buy Box” strategy, revamping the equations behind it, and making them more efficient. This won’t look new to users, but should produce better results, without sellers having to change their settings.
What will come next?
After the launch, Informed.co will be focusing on improving their insight and reporting features. Their aim is to go above and beyond showing data in graphs or charts, and be able to offer sellers actionable suggestions about changes they can make in their business.
To achieve this, they are analyzing the pricing and sales data that they have collected over the years, adding context, and delivering it to users in the best possible way. For some sellers, this might be through a daily email, while for others, it could be real-time push notifications. Either way, the goal is to provide tailored, useful recommendations that sellers can put in place quickly and easily.
How will that work in practice? Informed.co will analyze their years of sales data and the performance of their strategic pricing algorithms, to tell sellers where they should look to find growth opportunities.
Through the development of new product features and via integrations with other ecommerce tools, they plan to offer their customers a way to take action on these insights with just a few clicks – whether they are on the go or at their desktop computer.
As Informed.co continue to develop new analytics features, they’ll have the flexibility to build out a range of different software packages. So, if a seller just wants the analytics and insights, but doesn’t want repricing, there will be a plan for them, just as there will be for a seller who wants all the features.
Informed.co will continue to put repricing improvements front and center but, over the next few years, they aim to become known as a complete tool for measuring the health of your online business, and making informed decisions about how to grow sales and profitability.
This post was sponsored by Informed.co.