CommerceIQ launches Advertising Managed Service to help brands optimize for the ecommerce channel
CommerceIQ, the ecommerce channel optimization platform, yesterday announced the launch of its fully managed multi-channel advertising service. The machine learning-based advertising service will enable marketers to go beyond traditional strategies that solely focus on optimizing return on advertising spend (ROAS), to taking a more growth-centric approach. Marketers can use ecommerce channel optimization to connect advertising data, strategies, and execution with key ecommerce growth levers including inventory, incremental sales, share of voice, promotions, pricing, and content that are constantly changing the ecommerce world.
The company also revealed that it will join Amazon’s advertising partner program for Managed Service providers. CommerceIQ claims it has achieved more than $2.5Bn spend on its platform through sales and ecommerce channel optimization.
CommerceIQ is one of the first service providers to deliver ecommerce channel optimization for market share growth. The company’s full-funnel (search and display), omnichannel managed service is delivered by ecommerce experts and data scientists. Here’s what makes the offering unique:
1. Optimizing for Share of Voice to Drive Sales and Profitability: CommerceIQ Advertising Managed Service leverages ecommerce channel optimization to drive long-term revenue impact instead of just focusing on ROAS. The fully managed service uses CommerceIQ’s Share of Voice (SoV) Builder to track thousands of constantly changing keywords, impacting SoV across retailers and automatically allocating advertising spend to trending keywords with a low share of search. This approach ensures that advertising spend is funnelled to capturing incremental demand rather than cannibalizing sales the brand would have captured organically.
2. Machine Learning Powered Recommendation and Automation Engine: The company’s proprietary machine learning algorithms anticipate consumer behavior, market trends, and competitive actions. These insights are then integrated with retail PoS, profitability, and inventory data to optimize the ecommerce channel at scale.
3. Full-Funnel Advertising Through Omni-Channel Support: The CommerceIQ Advertising Managed Service supports full-funnel channel optimization on Amazon across Sponsored Products, Sponsored Brands and Display Advertising. The service also provides detailed reporting and visibility into the impact of full-funnel advertising investments on the entire shopper journey from awareness, consideration, purchase, advocacy, and loyalty for Amazon. By providing a single, unified dashboard, CommerceIQ enables advertisers to receive reporting on KPIs such as total sales, ad sales, search media spend, display media spend, incremental ROAS, and SoV.
The company is now also offering a beta trial of its advertising managed service for omnichannel retailers.
4. Expert-led Advisory Services: To help brands take their advantage of their data and achieve strategic marketing objectives, CommerceIQ is offering its team of experts to assist brands with day-to-day advertising management services and play the role of a strategic advisor â€“ applying the latest machine learning and data analytics innovation to simulate custom business outcomes and help them take smarter advertising decisions.
5. Flexible Service Model: CommerceIQ is offering two levels of service models and support to brands. Advertisers that want to manager their budget in-house can select CommerceIQ Advertising Platform along with support and training services. Brands that want more comprehensive ad budget management can opt for the second level of service that includes day-to-day advertising management services and strategic advisory services with CommerceIQ platform.
â€œThe recent Covid-19 epidemic has dramatically accelerated the transition to ecommerce and I fully expect that ecommerce will represent 30%-50% of retail sales in the next 5 years at the rate that it is growing today. The time is now for consumer brands to adopt a new operating model that uses advertising to fully optimize the ecommerce channel and win in the algorithmic world of ecommerce,â€ said Guru Hariharan, CEO of CommerceIQ. â€œWith this launch, CommerceIQ is delivering a fully managed service proven to help consumer brands create sustained competitive advantage and profitable revenue growth.â€
Solving for the Analytics Expertise Gap
CommerceIQ’s latest offering fills a crucial gap in the ad tech ecosystem â€“ inhouse analytical expertise. The company’s flexible engagement model combined with bespoke advisory services might potentially transform how brands think about optimizing the ecommerce channel to drive profitability.
As advertisers look to turn machine learning and data into a competitive differentiator, services like Advertising Managed Services play an important role in guiding strategy, technology investments, and developing in-house analytical skillset.
Brands can now overcome their analysis paralysis by building a foundation of solid ecommerce expertise within months instead of years.