Teikametrics helps merchants and brands optimize their ecommerce activities, and this week the company released its next-generation “Retail Optimization Platform” called Teikametrics Flywheel.
Teikametrics’ founder and CEO Alasdair McLean-Foreman said sellers and brands know they need to invest in advertising on Amazon to be competitive, but he said they find it challenging to profitably manage potentially thousands of keywords and bids across the products they offer.
Flywheel offers what the company calls “the world’s first algorithm focused on optimizing Amazon Advertising for product level profitability.”
It works by crunching billions of dollars of Amazon transactions across thousands of sellers on the Teikametrics platform and uses technology to process the data. “These advanced algorithms help individual sellers by automatically optimizing keywords, bids, and advertising campaigns to build conversion momentum and gain market share,” the company said.
Teikametrics Flywheel uses “leading-edge data science modelling, econometrics and machine-learning technology,” packaged in a simple web-based interface.
The new tool dynamically manages merchants’ Amazon ads to generate higher returns. As the company explains in video introducing Teikametrics Flywheel, too little advertising means a seller isn’t getting enough demand for the product, but too much is not profitable.
