New Terapeak Analytics Feature Scores and Optimizes Ecommerce Listings
PALO ALTO, CALIFORNIA—August 28th, 2014—Terapeak today launched “Listing Scoring and Optimization,” a new feature for Terapeak’s marketplace intelligence platform. Using Terapeak MySales, over 200,000 merchants can now score their eBay product titles, prices, shipping options, and other factors that influence sales. Subscribers of the Terapeak for eBay product can then see why they received their given score and use a guided workflow to fix problems and automatically update these listings.
Listing Scoring and Optimization allows merchants to select a segment of products and score their listings on a scale from 0% to a highest possible score of 100%. Merchants could, for example, score their top five performing products or their five lowest selling goods. For each listing, the tool breaks down the overall score into scores for individual criteria, and it explains why the merchant received these values.
Afterwards, Terapeak provides a guided workflow where merchants can repair the problems and automatically update listings on eBay. Once they complete the optimizations, merchants can use Performance Analysis in MySales to annotate their sales performance charts and track the impact of the recommended changes.
“One of the goals of Listing Scoring and Optimization is to increase gross merchandise volume throughout the ecommerce ecosystem,” said Andrew Sukow, co-founder and CMO of Terapeak. “We’ve seen that merchants who use analytics to optimize their listings increase sales significantly, so we’re making that process more simple and accessible to a much wider audience. The idea is to give online sellers yet another competitive advantage.”
Currently, Listing Scoring and Optimization analyzes eBay listings based on six important criteria for sales performance. Items are scored on Title & Content, Pricing & Shipping, Category, Seller Reputation, Images and Unique Identifiers.
Listing Scoring and Optimization is invaluable for helping merchants determine why a particular product is selling or not selling. For instance, if an item is selling poorly and receives an overall score of 35%, the listing is likely a factor. The merchant can optimize the listing, bring the score up and see if the sales figures change over time. On the other hand, if a listing has a score of 90% but sells poorly, then the merchant knows that the listing is not the issue.
To provide a specific example, an eBay merchant might sell the “Apple iPad,” and receive a low score for Title & Content. The Listing Scoring and Optimization workflow would identify the specific issue (too few keywords and title words), recommend the number of keywords and total words needed, provide a list of the most popular keywords and then allow the merchant to edit the title and automatically update the listing. After completing the workflow, the merchant could mark the date and measure how the changes affect the iPad’s sales performance.
“Terapeak analytics have historically revolved around opportunity identification in the marketplace,” said Kevin North, President & CEO of Terapeak. “However, this is the first feature that will begin a pattern of Terapeak moving to the next level and bringing sales enablement capabilities to the merchant community. We want to provide our customers with the ability to apply the information that they’ve learned in Terapeak without having to leave the application. In this first use case, Listing Scoring and Optimization will make our data more actionable for merchants.”
Terapeak aims to expand the number of scoring criteria from six to 18 over the next several releases. Listing Scoring is available to all 200,000 Terapeak merchants, including those with a free subscription to MySales. The Listing Optimization workflows are available to paid subscribers only and designed specifically to increase sales.
To test the Listing Scoring and Optimization feature, visit http://www.terapeak.com.
Terapeak is the leading source for analyzing, understanding and predicting consumer and product behavior in ecommerce. Terapeak analyzes more than 4.6 billion transactions per year and over $70 billion in online consumer spending to provide marketplace intelligence to clients ranging from entrepreneurs to Fortune 500 companies. Ecommerce merchants use Terapeak’s online analytics platform to evaluate pricing, sourcing opportunities, market trends, product behavior across regions and their competition. Terapeak provides marketplace analytics on eBay, Amazon.com and Yahoo! Japan, and merchants can view their own sales performance across multiple channels through Terapeak’s MySales product. Founded in 2004, Terapeak's U.S. headquarters are in Palo Alto, CA. Learn more at http://www.terapeak.com