Teikametrics, the leading Retail Optimization Platform (ROP) that helps brands and sellers optimize Amazon advertising campaigns, 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.
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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.
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“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.
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