Selling on Amazon or Walmart requires brands to make several important decisions on a daily basis. A few wrong moves could incur loss of sales and market share.
The fundamental issue here is that brand vendors and sellers on Amazon must deal with a smart machine on the other side. The Amazon machine continually makes real-time consumer-facing decisions based on over thirty changing variables across millions of products. Without competent technology, brands are ill-equipped to control these variables.
In order for brands to keep up with such ever-evolving inputs and outputs, they need an intelligent machine that can serve equally as a high-throughput decision making engine and a high-performing co-pilot that never sleeps.
The aviation industry went through a similar evolution of the human-machine partnership in the decision-making process. Below, on the left, is a 1912 Blackburn Monoplane aircraft. It did not have much instrumentation, nor sophisticated controls, and, in order to fly it, you would rely on just your experience and “gut” instinct. Now, imagine flying a modern-day Boeing 787 Dreamliner in today’s environment using just your instinct, minus the advanced cockpit. Would you be able to?
Akin to the modern-day aviation and the Dreamliner, today’s e-commerce industry has become increasingly complex. Navigating the complexity of Amazon — and modern e-commerce at large — requires an intelligent machine such as the Dreamliner aircraft’s cockpit and an advanced, automated co-pilot.
CommerceIQ for Sales is that intelligent machine with intuitive, easy to use controls…and the auto-pilot feature that is ready to assist. It is this cockpit that propels your e-commerce growth and helps you arrive at optimal decisions for your business. It enables brands to form a symbiotic relationship with Amazon’s e-commerce engine through cutting-edge technology. ## How to successfully pilot e-commerce growth
Loss of revenue online could occur in many ways. For example, best selling items may go out of stock, or competitors may run a more successful promotion, or an important keyword could be missed out for ads, or a new brand sneaks up on you in one of your core categories, or profit margins erode as retailers engage in a price war on your products. When such situations occur, brands need to be proactive, and not reactive.
In order to pilot successful e-commerce growth, brands need intelligent software that can:
In addition, a modern cockpit requires a very important artifact — the pilot handbook. For example, here is an extract from the B777-200 operating manual that provides guidance on single engine departures.
Similarly, a playbook is imperative for brands to handle situations as and when they occur on Amazon. Without the right playbook, the action of alerting would be useless.
With CommerceIQ, the e-commerce playbook comes in handy in many situations. For instance, when there is a price war alert for a given product, the right action would be recommended and executed to mitigate this situation.
CommerceIQ equips brands with intelligent decision-making capability and helps optimize and automate their e-commerce strategy.
CommerceIQ is powered by the following capabilities that enable brands to better control their online business:
1: Dynamic Monitoring
Making right decisions requires rich and high quality data.
For example, it would be very difficult to pilot a plane whose sensors do not measure wind speed with precision in real time. Similarly, to effectively drive e-commerce growth, brands need to be equipped with precise data on their competition and their actions.
In order to provide brands with the best competitive profile for their markets on a daily basis, CommerceIQ enables them to monitor and capture product-by-product details from all major e-commerce websites across millions of pages to collect useful information and real-time data, like price, promotions, new arrivals, out-of-stock information, ratings and reviews, title and description, and so on, for all products.
2: Big Data Insights
Data is of no use if one cannot process it and quickly act on it.
CommerceIQ is a distributed computation platform that runs hundreds of machines in parallel, allowing brands to process data multiple times each day and providing relevant business insights.
For example, CommerceIQ answers questions such as “Which of my items are losing sales because of competitive promotions?” In a way, the platform acts much like air traffic control. You ask the questions, and CommerceIQ answers them with timely insights and next best actions to stay ahead of competition, mitigate damage, and increase ROI.
3: Prioritized Recommendations What should a pilot do if one of the engines fails during flight? Flight manuals and playbooks provide specific instructions on how this situation should be handled.
Providing insights is only half the work. CommerceIQ provides information on how the insights can be used to brands’ advantage. It offers root cause analysis and recommendations on how to handle difficult situations.
For example, if a brand has a sales drop on a top selling product in a category in which a competitor is running a major promotion, CommerceIQ helps the brand e-commerce team decide which of its own products should be put on promotion, what should be the promotion depth, how long should they be running this promotion and if they should play offense by also placing product display ads across strategic keywords to drive higher traffic, and much more.
4: End-to-end Automated Actions
For manually intense, repetitive or time-sensitive actions, CommerceIQ can go in “Autopilot” mode, going from guided actions to “Do It For Me” actions related to optimizing sales, marketing, content, and operations on Amazon.
For example, if a 3P unauthorized seller has won the Buy Box, CommerceIQ will detect this, surface this to the brand e-commerce team and auto-generate a request to the Amazon vendor manager with the relavent supporting data (i.e., ASIN, URL, unauthorized seller, pricing, etc.) to request that the unauthorized seller be removed.
Having a co-pilot and a partner that never sleeps and can automatically manage and take “next best actions” on your Amazon business 24/7/365 to navigate a flight path towards your goals is the gold standard in modern e-commerce operations.
5: Self-learning Measurement Engine
The first cockpit or flight manuals were nowhere close to being advanced or accurate. Today, through technology and process improvements, the modern aircraft has built-in instrumentation, computer-driven self-diagnostics and feedback mechanisms to improve the overall flight experience.
CommerceIQ also comes with a strong self-learning measurement engine that continuously measures the impact of recommended actions and refines the recommended action based on its learnings. This helps improve the e-commerce playbook as the machine on the other side continuously evolves.
CommerceIQ collects billions of e-commerce data signals from external sites to provide you with insights customized to fuel your e-commerce growth. The platform finds growth opportunities and risks to your sales performance using proven strategies and provides real-time recommendations that you can approve and act on.
With CommerceIQ, you will never have to be caught by surprise by damaging situations such as out-of-stock products. It ensures that consumers find your products among millions of other products.
CommerceIQ enables your business to keep up with the ever-changing trends in real-time. It also helps you understand how your competitors impact your sales and mitigate risks.
In short, just as the modern-day aircraft’s cockpit and pilot manual serve as invaluable partners to a pilot, CommerceIQ serves as the modern-day cockpit, flight plan manual and e-commerce autopilot for your business growth.
May you soar to great heights!