Teikametrics Launches Hourly Bidding Algorithm for Amazon Advertising
BOSTON–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/bigdata?src=hash" target="_blank"gt;#bigdatalt;/agt;–Teikametrics, the leading Retail Optimization Platform (ROP) that helps brands and sellers optimize Amazon advertising campaigns, today announced the launch of its new hourly bidding solution for its best-in-class software-as-a-service (SaaS) product, Teikametrics Flywheel. The Flywheel platform is the world’s first ROP technology to combine advertising data, transaction data, and cost of goods sold to algorithmically optimize for Amazon Advertising profitability.
The announcement at Prosper Show, an annual industry conference for established Amazon sellers in Las Vegas, now means that Amazon sellers using Teikametrics Flywheel will see improved performance and profitability using a more dynamic and responsive bidding algorithm.
The hourly bidding algorithm is powered by an econometrics and machine-learning data model that, for the first time, allows Amazon advertisers to automatically adjust bidding strategy quickly, minimize wasted ad spend, and adapt to changing marketplace dynamics. This powerful new capability takes advantage of Amazon’s recent ad policy that allows for significantly reduced lag time in reporting advertising performance data.
Being able to calculate the most profitable bid on an hourly basis allows Teikametrics’ industry-leading ROP 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 has managed more than $6 billion in retail sales for Amazon sellers to date. More than 2,000 clients have generated an average of 34 percent more revenue at constant marketing efficiency within 60 days of deploying Teikametrics’ ROP platform. Attendees at the Prosper Show are welcome to visit Teikametrics at booth 312 to learn more about its platform capabilities and users’ success stories.
About Teikametrics
Teikametrics is the leading Retail Optimization Platform (ROP) that helps retailers, brands and agencies grow revenue and increase profitability on Amazon. Teikametrics optimizes billions of transactions for thousands of retailers around the world selling on Amazon and other marketplaces. Founded in 2013, Teikametrics uses proprietary econometrics and machine-learning data models packaged in a simple SaaS interface. The company combines best-in-class technology with deep domain expertise in selling on Amazon. Retailers and brands including Razer, Power Practical, Zipline Ski, and Mark Cuban’s Brands are increasingly turning to Teikametrics to harness the full potential of selling and advertising on Amazon. For more information, visit www.teikametrics.com.
Contacts
David Wamsley
Rosebud Communications
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This article published with permission from Business Wire
