Today, CommerceIQ, the leader in Ecommerce Channel Optimization, launched a fully managed omni-channel advertising service powered by CommerceIQ’s Machine Learning (ML) and automation platform and delivered by ecommerce experts and data scientists.
The CommerceIQ Advertising Managed Service ushers in a new approach to ecommerce advertising that moves beyond typical advertising strategies that only focus on optimizing return on advertising spend (ROAS), and instead focuses on using advertising to drive profitable market share growth. This is achieved through ecommerce channel optimization that connects advertising data, strategies and execution with key ecommerce growth levers including inventory, incremental sales, share of voice, promotions, pricing and content that are dynamically changing in the algorithmic world of ecommerce.
In related news, CommerceIQ has been officially accepted into the Amazon advertising partner program for Managed Service providers. CommerceIQ customers manage hundreds of leading consumer brands on Amazon, driving more than $2.5Bn in sales and optimizing the ecommerce channel for profitable market share growth.
“Prior to CommerceIQ, we were making weekly or sometimes monthly bids and budget change decisions to optimize our advertising spend on Amazon and they were solely focused on driving return on ad spend, which provided a very limited measure of ecommerce effectiveness,” said Christy Wilhelmi, Sr Director of E-commerce for Georgia Pacific. “Now, with CommerceIQ, for the first time we are averaging 400K actions per month and advertising spend is optimized in near real time to drive incremental sales growth and competitive advantage.”
“The 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,” said Guru Hariharan, CEO of CommerceIQ. “With this launch, CommerceIQ is delivering a fully managed service proven to help consumer brands create sustained competitive advantage and profitable revenue growth.”
