Navigating the dynamic world of online retail requires strategic guidance. Rithum’s answer is Advisor. Advisor is not just a tool, but a companion that understands your business intricacies. Since launching in October 2023, brands and retailers that completed Advisor recommendations have generated over $50 million in GMV to date.
To improve operations and unlock new growth opportunities, Advisor serves as a personal marketplaces guide.
Your personal marketplaces guide to unlock growth
Advisor uses data-driven insights to analyze your specific business needs within the broader market. It suggests when to add features or how to expand your marketplace presence. It also helps you prioritize listing errors, explore new sales channels, and optimize inventory. Noteworthy successes include projected sales revenue after resolving errors on eBay and Amazon.
A best practice checklist to outperform your competition
Think of Advisor as part of your business strategy. It serves as a proactive reminder and best practices checklist. This tool doesn’t just highlight what actions you should take but motivates you to take action. Customers click on the recommendation and it guides you where you can address issues with your listings.
Key successes and real-time impact for listing errors on eBay, Amazon
Advisor is helping customers with pain-point-specific recommendations specific to their account. “It shows me exactly what I need to fix and makes it easy for me to do it,” according to one Rithum customer.
This customer clicked through a recommendation that highlighted where listing errors resulted in lost revenue on eBay. The Advisor recommendation assisted the customer by leading them to where they could identify which listings had errors. This helped the customer resolve the problems quickly.
According to another customer, “It’s not just a general recommendation. It was clear what type of errors we needed to fix, and we were able to do so in minutes.”
During the busy Cyber 5 holiday shopping rush, Advisor’s data-driven recommendations for listing errors proved to be invaluable, said another customer. Advisor suggested that this brand remove listing errors. That recommendation was valuable as the customer prepared its inventory in time to sell during the Thanksgiving through Cyber Monday shopping period.
Advisor goes beyond recommendations. It also shows estimated revenue potential, motiving you to take immediate action. Customers appreciate the clear connection between fixing errors and possible earnings.
“Advisor shows you the potential dollars associated with the errors. That pushes us to fix those errors. We are then able to see the sales we earn instead of sales we lost,” said another customer.
Which recommendations will generate new GMV?
Customers have used Advisor recommendations to improve eBay performance ratings, reprice products on marketplaces, as well as send search terms to Amazon and advertise products with Amazon Sponsored Products. A small sampling of popular recommendations:
- Resolve errors on a marketplace (eBay, Amazon, etc.)
This recommendation identifies and suggests next steps to correct inaccuracies or problems with your product listings on specific marketplaces. This includes: fixing incorrect product descriptions, updating images, or addressing pricing errors.
- Start selling on a marketplace
This suggests entering new marketplaces that align with your industry/catalog. This can expand your business by increasing your brand’s reach, diversifying your customer base, and potentially boosting sales by tapping into a new audience.
- Lower your quantity buffer on a marketplace
Reduce the number of items you keep in reserve to prevent stockouts on a particular marketplace. This can increase the available inventory for sale, allowing for more sales.
- Advertise your products with eBay promoted listings
This uses eBay’s Promoted Listing feature to increase visibility of your products. You can pay for promotion and listings appear more prominently in eBay’s search results, potentially leading to more traffic and sales.
- Reprice your products with the marketplace’s algorithmic repricer
This recommendation, when enabled on supported marketplaces, automatically adjusts your product prices based on algorithms and market conditions. This can help you stay competitive, maximize profits, and react quickly to market changes.
Advisor’s capabilities continue to evolve and grow along with your business. Advisor serves as an awareness tool that gives you visibility to help improve profitability. Schedule a demo to learn more about how Advisor can help you.