October 20, 2016 ChannelAdvisor Launches Major Platform Enhancements Including New Algorithmic Repricer
Research Triangle Park, NC – October 18, 2016 – ChannelAdvisor Corporation (NYSE:ECOM), a leading provider of cloud-based e-commerce solutions that enable retailers and branded manufacturers to increase global sales, today announced major enhancements to its platform. The theme of the release – Optimize Your E-Commerce. Find More Customers – brings innovative new features, machine learning and enhanced analytics to retailers and branded manufacturers.
“Our newest release will allow retailers and brands to optimize their online strategies and reach new customers in an ever-changing, increasingly competitive e-commerce landscape. Notably, we’ve launched our new Algorithmic Repricer, which is designed to help win the Buy Box while maximizing margin through machine learning and real-time analytics. Direct Home Supplies used our Algorithmic Repricer and in one day experienced an increase in gross profits by 46% and was winning 135% more of the Buy Box,” said Mark Vandegrift, vice president of product management, Marketplaces.
ChannelAdvisor’s expanded product suite focuses on ways retailers and branded manufacturers can optimize for shopper product searches, predict consumer needs and push relevant products.
- Gain a competitive advantage with the new Algorithmic Amazon Repricer with an Optimized Dashboard and a Jet.com Repricer that offer a streamlined setup process, predictive analytics and machine learning that helps win the Buy Box while maximizing margin. Utilizing the Algorithmic Repricer, Direct Home Supplies saw gross profits increase by 46% and Buy Box placement jump from 7% to nearly 17% in one day. Within 24 hours, they won 135% more of the Buy Box compared with a day earlier and the company also saw a 26% increase in total revenue. “I was really surprised to see gross profit go up by 46%,” said Mike Solomich, owner, Direct Home Supplies. “It’s one of those things that makes you wonder what you’ve been missing out all along.”
- An improved selling experience for Amazon and Fulfillment by Amazon (FBA) sellers through new enhancements to Sponsored Products.
- Access to millions of new customers on international marketplaces through Lazada, de, Baur.de and Schwab.de
- Expanded support for Amazon India and Overstock Marketplace, connecting merchants to some of the fastest growing e-commerce markets in the world.
- Better control over your eBay promotions through eBay promoted listings and Promotions Manager. “Getting eBay promoted listings set up with ChannelAdvisor was extremely easy. These listings help increase product visibility and boost sales. We have been using promoted ads for less than a month and we’re already seeing 15-20% growth in revenue. There is still room to optimize the ads, so we look forward to continued success,” said Scott Guinand, director of e-commerce of Shiptronix.
Digital Marketing Optimization Tools:
- Target new customers with perfectly placed Dynamic Ads for Facebook and Instagram and Facebook Carousel Ads. “We love the fact that we innovate together with ChannelAdvisor. Overall, we have a great partnership and they’ve helped us to implement Facebook dynamic ads, and to date the metrics have been outstanding. AOV is high, a lift around 36%, our cost per click has gone down 38%, and our click through rate has gone up 125%.” – Daniel Moure, chief marketing officer, PureFormulas.
- Added support for Google expanded text ads to optimize top-of-the-funnel strategies on Google and mobile devices. An early adopter customer who utilized ChannelAdvisor to help optimize their Google expanded text ads reported an increase in click-through rates (CTRs) of 104%, from a 2.92% average CTR for standard text ads to 5.97% with expanded text ads. The same customer also decreased cost per click (CPC) by 8%, by reducing spend from $0.56 to $0.51. “We’ve launched expanded text ads as a way to maximize presence on search results, giving advertisers more control over the longer headline field (headline 2) and increased character limits across all text fields. The ads are designed for a mobile-first world with both users and advertisers in mind. It’s especially important for advertisers to take advantage of these ads for the upcoming holiday season, so we’re happy that ChannelAdvisor is supporting this feature within their autumn release,” said Sara Waters, agency development manager at Google.
Where to Buy – Buy Local Reporting Optimization:
- New, enhanced dashboard that brands can use to gather more data about where and when their products are selling with their retailers. Brands can now track campaign performance, top categories, top retailers and view a product heat map. Brands can also view and export associated reports on all data from the Report Center.
To learn more about ChannelAdvisor’s expanded product release, register to attend our webinar on Wednesday, October 19th at 8am PDT, 11am EDT | 4pm BST. During the webinar, Amy Lubell, director of product marketing, and Amanda Caldwell, enterprise sales engineer at ChannelAdvisor, will provide an in-depth look at the newest tools, insights and functionality included in this year’s autumn release.