[October 18, 2016] |
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ChannelAdvisor Launches Major Platform Enhancements Including New Algorithmic Repricer
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 (News - Alert)
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.
Marketplace Enhancements:
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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."
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An improved selling experience for Amazon and Fulfillment by Amazon
(FBA) sellers through new enhancements to Sponsored roducts.
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Access to millions of new customers on international marketplaces
through Lazada, OTTO.de, Baur.de and Schwab.de
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Expanded support for Amazon India and Overstock Marketplace, connecting
merchants to some of the fastest growing e-commerce markets in the
world.
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Better control over your eBay (News - Alert) 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:
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Target new customers with perfectly placed Dynamic Ads for
Facebook (News - Alert) 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.
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Added support for Google (News - Alert) 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 (News - Alert)) 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:
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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.
About ChannelAdvisor
ChannelAdvisor (NYSE:ECOM) is a leading provider of cloud-based
e-commerce solutions that enable retailers and branded manufacturers to
integrate, manage and optimize their merchandise sales across hundreds
of online channels including Amazon, eBay, Facebook, Google, Walmart and
more. Through automation, analytics and optimization, ChannelAdvisor
customers can leverage a single inventory feed to more efficiently list
and advertise products online, and connect with shoppers to increase
sales. Billions of dollars in merchandise value are driven through
ChannelAdvisor's platform every year, and thousands of customers use
ChannelAdvisor's solutions to help grow their businesses. For more
information, visit www.channeladvisor.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161018006734/en/
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