Teikametrics continues to innovate its best-in-class AI technology in support of sellers maximizing their potential on the world’s most valuable marketplaces. In May 2022, we proudly released significant enhancements to our AI-bidding technology within Flywheel 2.0 that lift the efficiency and ROAS of advertisers on Amazon and Walmart.
The Problem
Currently, existing automated solutions for sellers rely on the narrow context of an advertiser’s individual performance, conversion, and historical conversions. By not taking into consideration macro factors such as seasonality, market trends, and other factors, advertisers are susceptible to missing out on optimization opportunities during the most important times for their business such as Prime Day (this year in July) or Black Friday & Cyber Monday.
Sellers that are advertising on Amazon and Walmart simultaneously without a cross-channel optimization solution see seasonal factors further reduce performance due to the complexity of data being siloed by channel. This optimization problem compounds across each of the seller’s channels, increasing the cost of discovery and results in sub-optimal performance.
The Solution
Teikametrics’ AI team has researched billions of dollars and transactions across thousands of customers, developed new econometric models, and has built and released a revolutionary new algorithm inside of its optimization platform, Flywheel 2.0.
Teikametrics is excited to announce four innovative, new updates to its best-in-class AI bidder technology, including:
- Support for Walmart’s updated 2nd price auction bidding
- Automatic bid adjustments based on seasonality or special events (i.e. Prime Day)
- Bid changes made within Teikametrics platform are now reflected on each marketplace in near real-time, ensuring sellers and vendors are able to react to changing marketplace conditions as quickly as possible
- Bids will be paused when a product is not available to be purchased due to inventory or other ineligibility marketplace requirements from. This saves sellers a tremendous amount of time from having to manually check product statuses and pause bidding on campaigns.
Prior to these updates, sellers and vendors were required to know how to manage two different bidding requirements per marketplace. Furthermore they were required to constantly change bids due to seasonality or specific events to ensure they were either not over bidding or underbidding based on time. On average we saw 22% of campaigns with inventory challenges which required sellers to manually pause campaigns until they re-stocked their inventory.
Flywheel 2.0’s new algorithm now allows advertising performance to be optimized in a more responsive and contextual manner, driving better performance for each dollar on either Amazon or Walmart.
Flywheel 2.0’s new algorithm also works hand-in-hand with its revolutionary Target Recommendation Engine (TRE) to continuously datamine and harvest the most profitable advertising targets between an advertiser’s marketplace channels. As an example, best performing keywords on Amazon are used to drive incremental testing and expansion on Walmart and vice-versa.
Key features and benefits
- One AI-bidder to manage dual marketplace ad strategy
- Return on ad spend (ROAS) optimization with forecasting seasonality/event impacts
- Near real-time bid updates within Marketplaces (down from hours)
- Eliminate ad spend waste when products are not available for purchase
