BOSTON--(BUSINESS WIRE)--Teikametrics, the leading Retail Optimization Platform (ROP), has hired John T Shea to join its executive team. Joining as Chief Growth Officer, Shea will be responsible for the company's overall growth strategy and helping thousands of brands maximize profits from Amazon Advertising.
Teikametrics has seen overwhelming demand for its solutions from brands, sellers and agencies. To meet this demand, the company secured a 10 million dollar Series A investment last month and has doubled headcount over the last year. Shea will oversee sales, marketing, and business development efforts from the company’s Boston headquarters.
"Amazon Advertising is the most powerful direct-response marketing opportunity ever devised. Through its product search engine, Amazon has more valuable user intent data than Google and with Amazon Prime, it has more valuable user data than Facebook. And to top it off, by owning the transaction, Amazon can close-the-loop between advertising and sales. However, brands are struggling to unlock the full potential,” said John Shea, Chief Growth Officer.
Teikametrics helps brands continuously calculate their product-level margins and the actual incremental lift of their Sponsored Product advertising on Amazon. These two calculations are the foundation of effective data-driven marketing and are enormously difficult to perform with the toolset Amazon provides. Under the advisement of MIT Professor Jerry Hausman and advertising technology veteran, CTO Aatish Salvi, Teikametrics uses proprietary data science and econometric modeling to automate Amazon Advertising for profit maximization. The company has generated an average of 34% more revenue at constant marketing efficiency within 60 days of deployment for over 2,000 clients and has already optimized billions of dollars of Amazon transactions.
“Teikametrics has built an incredible base of customers in a remarkably short period and is the only third-party-platform optimizing Amazon Advertising at billion-dollar scale,” added Shea. “I’m excited to introduce this incredible value proposition to more leading brands and agencies and to help them navigate this complex channel. I’m also enthusiastic about the long-term vision and potential of Teikametrics. Success in retail marketing isn’t just about advertising optimization — it’s a multi-dimensional problem that must also consider pricing strategy, inventory management and external market intelligence.”
Shea has a 14-year track record helping brands use performance advertising technology to gain a competitive advantage. He previously served as Vice President of Sales at Criteo where he led a hundred-person commercial organization focused on personalized display advertising for eCommerce and as Senior Agency Sales Associate at Google where he helped large paid media agencies build advanced Paid Search practices.
“Amazon’s advertising business has two primary components search and display. John worked on the front-lines of the search advertising boom directly at Google and on performance display boom at Criteo. His decade-plus track record of helping retail brands navigate the latest advances in digital advertising technology make him the ideal leader to bring our technology to the world’s largest brands,” said Alasdair McLean-Foreman, CEO of Teikametrics.
Teikametrics is the leading Retail Optimization Platform (ROP) that helps retailers, brands and agencies grow revenue and increase profitability on Amazon. Teikametrics optimizes billions of transactions for thousands of retailers around the world selling on Amazon and other marketplaces. Founded in 2013, Teikametrics uses proprietary econometrics and machine-learning data models packaged in a simple SaaS interface. The company combines best in class technology with deep domain expertise in selling on Amazon. Retailers and brands such as Razer, Power Practical, Zipline Ski, and Mark Cuban’s Brands are increasingly turning to Teikametrics to harness the full potential of selling and advertising on Amazon, and build profitability and market share. For more information, visit www.teikametrics.com.