By Ryan Walker, Teikametrics’ Senior Director of Client Strategy
From Instagram-native brands to Amazon upstarts, agility is what defines the rising stars of modern ecommerce. Their biggest competitive advantage comes by quickly finding valuable gaps neglected by existing, larger players, and nimbly adjusting to competitive pressures. But as companies succeed and grow this agility becomes harder to maintain.
In the context of ecommerce getting bigger usually means a few things:
- You’re selling more products
- More competitors are actively trying to poach your customers
- The growing size of your organization makes capitalizing on new trends naturally more time consuming.
Data science and automation helps bridge this gap – enabling brands to make decisions faster with minimal human intervention. These concepts are at the core of what we do at Teikametrics, and it’s why thousands of brands, including category leaders, are using our software and services to flourish across online marketplaces, such as Amazon and Walmart.
Today we’re launching Campaign Creator within Teikametrics Flywheel — the industry’s first Retail Optimization Platform. This new functionality algorithmically aligns your Amazon ad campaigns to your target customers’ buying stages, business goals, and product lifecycle stages. The result is another unique, market leading usage of data science by Teikametrics to solve a critical problem for brands selling on ecommerce platforms.
By leveraging Flywheel Campaign Creator, brands spend more efficiently on advertising, capture more incremental sales, and know their campaigns are positioned correctly — right from the start.
Perhaps just as importantly, we designed this functionality not only to improve the performance of campaigns, but also make the process of campaign setup much easier. Rather than needing to fill out spreadsheets and deal with data transfer or uploading issues, Teikametrics’ interface allows you to complete campaign setup in minutes with four easy steps. Pick the products you want to include in a campaign, select your campaign goal (Launch, Growth, Profit, or Liquidate), list your brand and competitor terms, and review and edit if necessary. Teikametrics’ software then does the rest – using a mix of historical data and wider market insights to predict the optimal arrangement of products, ad groups, and keywords – before getting the campaign live on Amazon.
While campaign setup may not sound like an area that needs the help of data science, we’ve found that improper setup is often at the root of middling or stalled performance on Amazon. Problems with campaign setup are “creeping” issues – the inefficiencies are present, but not so dramatic you’ll likely notice them immediately. For example, you won’t intrinsically know, or your agency won’t tell you, about those few dozen sales you likely missed the other week because your bids weren’t aggressive enough on a generic keyword. Or that your new product isn’t getting any advertising exposure because your best selling item in the same ad group is eating up all of the available inventory.
If your campaigns aren’t aligned with your business goals, it can be death by a thousand cuts. Campaigns that chronically underspend won’t give you win rates that allow you to make informed decisions based on results. Meanwhile, an aggressive launch campaign that stays aggressive too long on branded keywords can be poaching your organic sales needlessly – all while the overall “efficiency” and growth of your paid campaign can look good.
This is what Teikametrics’ advanced approach to campaign creation addresses. Paired with our bid automation capabilities, we align each of your campaigns with your strategic goals, for each product you sell, at every stage of its life cycle on Amazon – keeping you competitive while avoiding wasted ad spend.
We’d love to prove it to you. Let’s talk!