CommerceIQ Expands E-commerce Channel Optimization Beyond Amazon For Full Coverage of All Major Online Retailers
CommerceIQ, a leader in E-commerce Channel Optimization, announced it is extending support beyond Amazon for all major online retailers including Walmart, Instacart, Kroger, Target, Best Buy, Bed Bath & Beyond, Costco, Sam’s Club, Kohl’s, Wayfair and Home Depot.
With worldwide retail e-commerce growth hitting nearly $4.3T in 2020, online sales are becoming core to business operations, requiring high velocity and high volume decision-making to win at the moment of purchase and drive profitable market share growth. With full coverage connecting sales, marketing and supply chain operations, CommerceIQ will now enable advertisers to leverage its E-commerce Channel Optimization (ECO) platform to drive growth across their online portfolio. The platform has been widely adopted as the solution of choice for best-in-class e-commerce companies including The Bountiful Company, Kellogg’s and Logitech, generating an average 20% increase in share of voice, 40% more incremental sales and 20% greater profitability.
How to Activate Machine Learning-Based Automations and Generate Integrated Cross-Channel Reporting
Advertisers in particular can leverage CommerceIQ’s expanded capabilities to track and optimize their digital shelf, activate machine learning-based automations and generate integrated cross-channel reporting from a single portal.
Whereas most omnichannel advertising tools and services either support only one channel or optimize for return on ad spend, CommerceIQ’s approach focuses on the ultimate business objective for brands – driving revenue growth.
E-Commerce Teams Will Now Benefit From Unified Reporting
Using an AI-based automation engine tied to business objectives, e-commerce teams will now benefit from unified reporting and the insight to plan across multiple retailers to ensure the majority of advertising spend is allocated towards capturing incremental demand rather than cannibalizing sales they would have obtained organically.
“Accountability over omnichannel retail media spend is a top priority making its way into the boardroom of most large brands given the emergence of e-commerce as a viable channel for sales growth during the past 12-18 months,” said Piyush Lumba, COO of CommerceIQ. “Given the reliance on retail media, customers can no longer afford to manage different functions or retailers separately. With full support for all retailers, our omnichannel advertising approach breaks down the silos that lead to lost revenue and diminished brand recognition, barriers that are difficult to recover from in the world of e-commerce advertising.”
CommerceIQ’s omnichannel capabilities ensure e-commerce success where it counts, with increased share of voice, more revenue and higher profit margins tied to a business’ bottom line. The expanded omnichannel capabilities and tech-led service offerings include the following:
- Share of Voice Builder: Tracks thousands of constantly changing keywords that impact share of voice across multiple retailers and automatically allocates advertising spend to trending keywords with a low share of search.
- Outcome-Based Strategy Builder: Sets business objectives (such as increasing awareness, share of voice, profitability, ROAS, in stock rate, conversion, competitor conquesting, etc.) by product category and creates custom strategies and machine learning-driven automations for 1000’s of actions to achieve those outcomes
- Unified Reporting: Normalizes data and retailers for different attributions, placement and ad types to provide a unified view of performance, insights and opportunities. Brands can then compare share of voice, ad spend, normalized ad attributed sales and competitors across retailers to make investment and strategy decisions accordingly.
“With omnichannel advertising, one of the toughest challenges is getting detailed reporting and visibility across all retail marketplaces. Adding to the complexity is understanding how to leverage those insights in a timely fashion that maximizes our media investments,” said Leonard Glick, Director of Marketing & Business Intelligence at Spectrum Brands, Inc.
Leonard added, “CommerceIQ enables our team to achieve our objectives for each product category using a retail and competitor aware approach. Instead of looking at traditional marketing metrics like return on ad spend, click-through rates, or ad attributed sales, CommerceIQ focuses on helping us reach our most important business goals of increasing discoverability, driving incremental sales, and growing profitability.”
Brands interested in learning more about mastering omnichannel success are welcome to join our exclusive online gathering on April 29, “Winning With Omnichannel: The Insider’s Story of How Instacart Became a $39 Billion Behemoth” featuring the President of Instacart.
CommerceIQ™ is the leader in E-commerce Channel Optimization (ECO), the practice of using machine learning, analytics and automation holistically across supply chain, marketing and sales operations to accelerate brand growth with online retailers.
Using CommerceIQ as a single source of truth, customers like Georgia-Pacific, Spectrum Brands and a host of other top-tier Fast-Moving Consumer Goods companies have driven 40% increase in incremental sales, 20% improvement in profitability and 20% increase in share of voice across omnichannel retailers online.