Using Precision Data to Maintain eCommerce Channel Control and Brand Value

Mar 15, 2023 12:00 PM12:30 PM 

Request The Full Recording

Key Discussion Takeaways:

Online marketplaces are expanding significantly, representing over 60% of global retail sales. In the coming years, third-party sellers will contribute to 70% of this sales growth. Yet these trends drive channel disruption from unauthorized sellers. So how can you maintain platform precision and control to augment brand growth?

When monitoring channel disturbance, it’s imperative to leverage data science to quantify the revenue impact of various unauthorized sellers. This provides actionable insights to prioritize risks for complete platform control. When gaining control, there are three core areas to consider: price monopolization from unauthorized sellers, maximizing authorized sales for growth initiatives, and optimizing marketing by securing the Amazon Buy Box.

In this virtual event, Tiffany Serbus-Gustaveson sits down with Blake Burrus and Jay Radley of Precision eControl to discuss how to regain control of your brand. Together, they talk about marketplace growth trends in the retail industry, how to leverage data to accelerate growth and enhance channel performance, and the difference between channel monitoring and control.  

Here’s a glimpse of what you’ll learn:

  • Marketplace growth trends in the retail industry
  • How Precision eControl helps brands maintain platform control 
  • Leveraging data to optimize channel performance and accelerate growth
  • Three ways channel control benefits brands
  • The difference between channel monitoring and control
  • Case studies: addressing channel disruptors 
Request The Full Recording

Event Partners

Precision eControl

Precision eControl, a dedicated technology and software-as-a-service business, helps brands maintain channel control, protect brand value, and increase online sales. The Precision eControl platform provides precision insights to identify online activity disrupting business KPIs, analytics to focus efforts where they will have the greatest financial impact, and proprietary measurement to demonstrate commercial results for brands. Consolidating channel control efforts into a comprehensive ecosystem allows eCommerce owners to operate with greater efficiency and deliver meaningful ROI.

Connect with Precision eControl

Guest Speakers

Blake Burrus LinkedIn

Chief Executive Officer at Precision eControl

Blake Burrus is the CEO of Precision eControl, a technology and SaaS company that enables brands to thrive in the eCommerce age. As an experienced tech executive, analytics leader, investor, and advisor, he has held leading roles at companies such as Numerator, Quotient Technology Inc., and Nielsen. For the past two decades, Blake has cultivated a passion for innovation and building product platforms for marketing analytics. 

Tiffany Serbus-Gustaveson LinkedIn

Senior Digital Strategist at BWG Connect

BWG Connect provides executive strategy & networking sessions that help brands from any industry with their overall business planning and execution. BWG has built an exclusive network of 125,000+ senior professionals and hosts over 2,000 virtual and in-person networking events on an annual basis.

Jay Radley LinkedIn

Head of Sales at Precision eControl

Jay Radley is the SVP and Head of Sales at Precision eControl. As a brand builder and SaaS sales and GTM leader, he has experience guiding high-performance organizations in the CPG, retail, and marketing industries. Before Precision eControl, Jay held various roles at Streetbees, including Head of Client Growth and Quotient Technology, including Client Director of Strategic Accounts. 

Event Moderator

Blake Burrus LinkedIn

Chief Executive Officer at Precision eControl

Blake Burrus is the CEO of Precision eControl, a technology and SaaS company that enables brands to thrive in the eCommerce age. As an experienced tech executive, analytics leader, investor, and advisor, he has held leading roles at companies such as Numerator, Quotient Technology Inc., and Nielsen. For the past two decades, Blake has cultivated a passion for innovation and building product platforms for marketing analytics. 

Tiffany Serbus-Gustaveson LinkedIn

Senior Digital Strategist at BWG Connect

BWG Connect provides executive strategy & networking sessions that help brands from any industry with their overall business planning and execution. BWG has built an exclusive network of 125,000+ senior professionals and hosts over 2,000 virtual and in-person networking events on an annual basis.

Jay Radley LinkedIn

Head of Sales at Precision eControl

Jay Radley is the SVP and Head of Sales at Precision eControl. As a brand builder and SaaS sales and GTM leader, he has experience guiding high-performance organizations in the CPG, retail, and marketing industries. Before Precision eControl, Jay held various roles at Streetbees, including Head of Client Growth and Quotient Technology, including Client Director of Strategic Accounts. 

Request the Full Recording

Please enter your information to request a copy of the post-event written summary or recording!

Need help with something else?

Tiffany Serbus-Gustaveson

Senior Digital Strategist at BWG Connect


BWG Connect provides executive strategy & networking sessions that help brands from any industry with their overall business planning and execution.

Senior Digital Strategist Tiffany Serbus-Gustaveson runs the group & connects with dozens of brand executives every week, always for free.


Schedule a free consultation call

Discussion Transcription

Tiffany Serbus-Gustaveson 0:18

Happy Wednesday everyone I am Tiffany Serbus-Gustaveson and digital strategist with BWG Connect, and we are a networking knowledge sharing group we stay on top, the latest trends challenges whatever is going on within the digital landscape, we are on track to do at least 500 of these virtual events this year due to the increase in demand to better understand everything in the digital space. We'll also be doing at least 100 in person small format dinners. So if you happen to live in a tier one city, feel free to shoot us an email or check out our website. These dinners are typically 15 to 20 people talking about a specific digital topic. And it's always a fantastic time. And we'd love to send you an invite is from these conversations, we generate topic ideas that we know people want to learn about. And it's also where we gain resident experts, such as Precision eControl who is with us today, anybody that we asked to talk to the collective team that's come highly recommended from multiple brands within our network. So if you ever need any recommendations within the digital space, please feel free to reach out we have a shortlist of the best of the best and we'd be happy to provide that information to you. And also note that we have a talent agency BWG Talents that we'd be happy to put you in contact with as well. If you have any hiring needs. A few housekeeping items. We want this to be fun, conversational educational, so please put those questions, comments experiences into the chat, q&a or if you feel more comfortable, you can email me at Tiffany Tiffany@bwgconnect.com. And we will get to them. Also, this is a 30 Minute Webinar today. So we are going to kick it off quick. And we will end at the 30 minute mark. So with that, let's start to rock and roll and start to learn about using precision data to maintain eCommerce channel control and brand value. The team at Precision eControl have been awesome friends and partners in the network. So I'm going to kick it up to you, Jay and Blake, if you can give a brief introduction on yourself and we will dive into the information that would be fantastic. Thank you.

Blake Burrus 2:09

Great. Yes, super. Thank you, Tiffany. Hi, Blake Burrus, I head up the Precision eControl business. Jay Radley. Joining me heads up our sales and partnership efforts. We'll keep it simple with that. And let's get rolling where we only had as you said, have a few minutes here. So Jay, turn it over to you.

Jay Radley 2:28

Perfect, we'll dive right into into the slides. As we dive in first, just want to thank everybody for joining us. Today we're excited to share some of the trends we're seeing across the industry and how specifically Precision eControl can help support brands like yourselves and has been supporting our partners. Over the past few years, we've seen a pretty significant expansion in online marketplaces and the role of third party sellers. In fact, it's projected that marketplaces will contribute to over 60% of retail sales, Blake you shift to the next slide. Sorry, represent over 60% of our retail sales globally, and actually will be leading the growth for the overall retail sector at over 10% annually. This rapid expansion that we're seeing is also influencing many of the largest largest retail brands to explore this marketplace model and use it as a strategic growth driver for their businesses as well. This rapid expansion also impacts amplifies the impact and possible disruption. We'll talk a bit more about this up third party sellers. According to Forrester over 70% of marketplace sales growth is anticipated to come from third party sellers. This makes it critical for brands to not only have a strategy in place, but also tools to be able to analyze and understand market dynamics. In addition to the kind of sales and revenue trends that I just just highlighted, these marketplaces are becoming significant media platforms as well. They're capturing greater share of brand advertising dollars a year, year over year, brands are shifting to these retail marketplaces and retail media platforms to maximize their media effectiveness. As you see in the data presented here. We're seeing a really rapid increase in ad spend and ad dollars. In fact, more and more brands are seeing these lower funnel purchase solutions to be able to reach shoppers where and when they're making those purchase decisions. Amazon as a leader in this space, is actually positioned to capture quite a bit of the sales digital, the digital ad spend in the coming years. It's anticipated by 2024 that though, represent over $30 billion in ad spend and represent almost 13% of all US and At spin, I capture a lot of these marketplace dynamics, because I think it's important to set the stage for where we see the retail environment moving and and many of you are very, very active in these spaces. And these trends probably are very apparent to you. But as these marketplaces grow, it's it's super critical, again, that brands take a very active stance in maintaining and managing control. And it really requires precision. So we're going to double click a little bit into how precision can really set you up to operate best in these channels and to accelerate your growth, growth trajectory. First off, some of you that are attending today may be familiar with with Precision eControl. For those that haven't met us want to share a bit more about who we are, and what we do. Precision eControl is a software platform, we were kind of created out of the need that many brands were coming to us asking for better understanding of marketplace trends and dynamics. And these include things like one p and three P seller dynamics, the the impact of unauthorized sellers pricing trends across marketplaces. And so Precision eControl really aims to be able to help brands gain and maintain control of their, their platforms. It's all also really important focus of ours to be able to make sure that we're delivering actionable measurable outcomes for our partners. It's not just about assessing a marketplace or highlighting what's occurring, but that we're doing it in a purposeful way that's driving business outcomes. We support a large range of brands and actually represent over $2 billion in GMV, across the major marketplaces, and we continue to grow rapidly, as many brands are looking to leverage these services to again, gain control and kind of optimize their revenue trajectory on these these growing growingly important marketplace. ecosystems. I mentioned, you know, the importance of measurable outcomes and measurable KPIs, both Blake and I come from the the CPG analytics space. So it was super important for us to maintain kind of a focus on how do we influence and impact our partners businesses, you know, looking at outcomes like incremental ro s and market mix modeling, you know, it's really with that background, that we want to make sure that that Precision eControls kind of elevating beyond activity metrics that are very common in the space like, you know, violations observed or notices sent. And we really came back to how do we build the right framework to yield the business results that our brands are looking for. And so that's these data driven principles that we've kind of applied in our platform really helps our partners tackle each of these, it's important to not only be able to identify the disruption and have specificity on who may be causing the disruption in the marketplace, but to be able to meaningfully quantify what that revenue opportunity looks like, what's the magnitude of that behavior on the marketplace? How do we create actionable targeted plans that you can can enact that can drive towards business outcomes? And then lastly, how do we measure that? How do we have the systems in places and in the tools to know when you take an action that you can see that Quora corresponding benefit to your business and, and your overall trends across online marketplaces. And so it's with that lens that we really take the building of our platform, the purposeful approach and how we capture the data, and how we present that within within our dashboard. The next few slides, I'm going to dive into some visuals from our Amazon insights us dashboard to really kind of bring this framework and how partners may be leveraging data to accomplish their goals. This slide here, you'll see the marketplace revenue trends. This really speaks to our ability to not only you know understand who's winning a Buy Box, and then the specific point in time, but to be able to leverage proprietary data and data science to quantify the revenue and the revenue impact of various sellers at any point in time. This gives you greater insight into the magnitude, potentially of unauthorized sellers across your brands across the marketplace, while also being able to prioritize against either a storefront or analyzing from a specific product lens, depending on your job to be done on that specific, specific day. The amount of data science that goes behind these estimations is quite substantial in really differentiating in the in the ecosystem. This next slide here really helps to take a little bit deeper have a look on a specific storefront basis. So you can see here, a more detailed look multiple store are friends, both authorized and unauthorized throughout the marketplace that are driving revenue against specific subset of ASINs. This really helps our partners to prioritize where they may see a cohort of meaningful unauthorized sellers that they want to potentially explore and take action against that quantification. And the ability to get to these revenue estimates really drives a more actionable, more purposeful activity said, not every seller out there is equalized in terms of the volumes or impact or disruption that they're driving not every percent of Buy Box is equivalent. So we take a purposeful approach to really quantify and help our brands prioritize where they can have the biggest impact. And then lastly, we're also looking at the role of pricing and pricing trends in the marketplace as and how that might influence your business objectives. And so we're looking at, you know, every seller when they're winning that Buy Box, the offers that they have out there at any point in time, and we're able to really anchor to create this concept of opportunity dollars, opportunity dollars is a comparison against the actual pricing that's occurring in the marketplace at any any point in time and kind of a provided ideal advertising price that you may have for your specific products. And it's this comparison and analysis that helps many of our brands understand what impact price erosion may be having to their business across, again, unauthorized and authorized, do you see the top row there, Amazon authorized one P seller is is potentially having a pretty sizable impact coming from price copying of unauthorized activity. And so our ability to anchor and provide these comparison sets really supports our brands in their endeavors to drive more control in the ecosystem. But also understand the interconnectivity of of all of these different sellers at any point, any point in time. These are just kind of a few visuals coming from the the Amazon US insights platform, we have a whole wealth of data set beyond this that we are happy to dive through with with partners is a follow up to this, but just wanted to kind of share a bit more detail on how we think about our framework of driving those actionable outcomes, and then also how that comes to life with within the data set itself. I'm now going to turn it over to Blake, who's going to dive a bit more into kind of overall marketplace disruption and kind of the concepts of channel control.

Blake Burrus 12:43

Yes, great. Thanks, Jay. And thanks for going into some of the details just give them a little bit of flavor for you know what we mean, we talk about precision and quantifying and using data to to understand and and solve channel disruption, I'm gonna, I'm gonna actually zoom back out a little bit and talk about three ways in which we feel that channel control benefits, benefits brands, so the burden is pricing. The second is through authorized maximizing authorized sales. And the third is through Mac maximizing marketing effectiveness. So if you think about pricing, we'll go into more detail here, there's a price disruption that can happen within a channel. So within a marketplace, for example, or within your authorized seller network, or across channels, which is becoming more and more common, you know, authorized sales, clearly, unauthorized gray market seller, that's just taking money right out of your unit become sales directors, pockets, but then there's just so many downstream effects of the, you know, the customer experience that can come from, you know, perhaps a suboptimal, suboptimal product, suboptimal customer interaction, you know, lack of warranty, and some of the other quality controls that, that are in place when you're buying from an authorized seller. So the downstream effects of that, and then, you know, really control is when it comes to marketing effectiveness, and I guess all three of these channel control is really a prerequisite for most growth initiatives, you know, pricing, power, new product, innovation, premium line extensions, you know, that kind of thing, advertising investments behind new products you don't need as general, as Jay showed, you got a lot of ad dollars flowing into this marketplace, if you don't have control, it just undermines your, your, your row as on those events. So we're gonna talk through each of these in a little bit of detail. And then and then talk about how we think about going to getting to root cause and really getting control. So this might be a familiar example to many of you, you got a product maybe you got a pricing strategies to sell it for, you know, $30 both your brick and mortar and in marketplaces, you might have a situation through where a distributor either through maybe a bulk buy, maybe they you know, they pick up the product directly at your warehouse and so they get a discount and by full truckload you get a discount, or maybe it was a you know, BOGO month or bioethical 50% off and then you know there's an opportunity for diversion there either through could be to to your distribution channel on your streets at unauthorized premarket seller, you get that seller drops price on Amazon and then all of a sudden you know what happens now with the algorithmic pricing environment, Amazon match Walmart match, you know that even to be by box eligible for Amazon you have to be competitive with Walmart pricing. So that triggers that and then you get channel disruption and channel conflict could get your brick and mortar retailer calling you and saying, you know, hey, but what's what's going on? And it affects, you know, your authorized sellers as well, you might have a lot of people say, oh, yeah, you know, monitor map. And before you pick up the phone, you know, talk to an authorized seller, but hey, you're out of compliance with map, they're gonna want to know if you're clean on Amazon or like, don't, don't call me until you get in to get clean on Amazon, right? So it's all, it's all super connected nowadays, but what we'll talk about in a little bit, is the fact that monitoring pricing and getting back in control are two really different things. And we think that historically, maybe the market hasn't been thinking about it in the right way, and will propose a new way of thinking about it. So let's talk about the second box, which was unauthorized sales, or to flip it in a positive way, you know, maximizing authorized sales. When when brands come to us, we find a way out, we'll often do it just an audit for a brand if they're interested in working with us. And what we find is that there's a lot of I mean, not surprising brands that are sort of experiencing pain, right when when they come to us, and we're finding that on average, a brand is experiencing over 60 unauthorized sellers listing on their products. But the not all sellers are created equal. There's a very high degree of concentration there that we see like three or four sellers account for almost 70% of the revenue destruction, not total listings, but quantified in terms of revenue. And then there's this long tail, right, that account for the remainder and so that you really need to proceed in the J show, right? You know, getting down to revenue estimate revenue estimate by product by day, and really understanding that instead of what's historically often been the case, if the binary like, is there an authorized seller or not? Black White? Yes, no, right. And we just feel like the prioritization and precision, we can't boil the ocean, you can't go after all 62 sellers, and you shouldn't, right, because they're not equal. So you need to focus in on the sellers that are causing the most disruption. And then really, and really drive to, you know, to that resolution. And it's not just that there's a storefront or a seller listing, there's just there's a ton of diagnostics and data behind. Who is that seller? Where are they located? Where did they get their product? What are their categories? Are they are they selling, are they represented by counsel or not, so it's not just identifying who it is, but your what you do about it, when Jay talks about targeted strategies to remediate is really cool, like who you're dealing with, as well as that craft that helps you craft your enforcement strategy. So it's though it gets to who and how much together so let's talk a little bit about marketing. Man, this is just this is a whole topic in and of itself, and I love to talk about this and this is just scratching the surface but again, looking at some of those audits that we do and brands come to us we find that on average brands losing the biwako almost a third of the days in a month and just the repercussions of that are huge so you think about you know for first of all it's going to limit the amount of the number just the number of days you can advertise on site so for example Amazon you know, for something like a sponsored product listing you can't advertise when you're not in the buy box so that's going to have a professional repercussions there are certain tactics that are available to you like maybe maybe sponsored brands will be available to you as much product would or maybe you can do so you know some headlines or sponsor display but it really changed what what tactic mix you can have and if you're doing you know upper funnel off site, right just you know sponsored search Google things like that if you want to drive it to a you know product detail page you're under Aegis your role as is gonna be cut by the fact that you're not you know, you're not in a Buy Box or just real implications per row as and then just a consumer experience like when when you're in control 20 days a month, you've got beautiful content that can be consistent across Walmart and Amazon and you control the content high quality, somebody else's owning the buy box, like you know, the quality and the experience there is really different and you get forced you kind of get forced into like a unintentional pulse strategy rather than an always on strategy. So there's there's a whole conversation to be had here about how control is really a prerequisite for you know, for marketing effectiveness. But for me, this is I think, how, how brand protection moves from a cost center to a growth and profit center like that, just the approach that we take. What we're hearing from brands are kind of enables us To be the connector between brand protection in the business because we're linking to business KPIs, we're looking we're thinking about every sales price within our revenue, we're thinking about ROI as, just historically, I think some of the metrics like Jay and brand protection haven't been so clearly connected to, to business KPIs, and as is like a very exciting space for us to be in. And I think, you know, pushing the conversation in a, in a new direction to really turn in this kind of work into a growth engine rather than a sort of a cost center. Okay, so let's, let's go to the sort of the next level down, I mentioned on that pricing slide that we view monitoring, and getting in control is two very different things. And that's because the sources of the disruption, how you address the disruption, and who addresses the disruption, that those are all very different. And what I've seen kind of happen is the current monitoring tools tend to, like monitor a very large scale for all of those observations in one pot and kind of leave it to the to the internal teams and the brands and the subject matter experts to sort of like sort that out. And I just feel like with more and more brands, more and more companies creating centers of excellence, and you know, in house teams to manage this, like, we just, it's critical to equip those teams with a true platform, like a set of tools, that's a connected platform. And so they just look at, you know, we see at least three different segments of sort of violations that will be addressed with three very different ways. So you've got you know, map, which may be familiar with, you got an authorized reseller, that's something you manage directly with your brand that requires a super high degree of precision, you need to be monitoring that multiple times day, you gotta monitor down to the URL level, you've got to make sure you don't have false positives with like an older out of season item being flagged as a as a map violation when it's not protected by mapping more so like, that's one whole body of work, super different from the box in the middle, which is the unauthorized resellers on the large marketplaces like Amazon, Walmart, eBay, that you take a completely different approach is managing cooperation with legal expertise, like you can't just go slinging letters, you can get in a lot of trouble by you know, by doing this, you need some some legal cooperation, also a very high degree of precision required, as Jay just showed on the some of the dashboard slides, and then you kind of got unauthorized activity on other marketplaces there a smaller or.com. That's not part of your authorized network. And, you know, that's really, we frankly, see that as a need for less proceeding. It's not something needed to monitor every day. But the level of granularity, the point there is just to drive some kind of focus, you don't have to boil the ocean, because it's such a big, such a big scope. And that's generally managing cooperation with legal expertise. And there's some work you can do there around using marketplace guidelines, you know, connecting directly with Amazon for things like counterfeit or, or illegal import, internationally, you know, things like that. But that segmentation is super important, because you're the data that uses different the workflows that you use, who takes what action, how you measure it, all those things are different. And we just feel like historically, it hasn't been kind of thought about in that way. So I just want to show two quick examples. In a map situation, right, so that you're going to use a specific set of data for that, you know, find the most restrictive violations among your authorized sellers, that's going to be a brand land communication with with your reseller network, and then you're going to measure that a certain ways you can measure Mac compliance, you're gonna look at price, stability, etc, etc. And so that's a set of tools and a workflow. That's a brand led workflow, brand led communication, you need knowledge management, communication tools and data to enable brands to, to do that, with an unauthorized reseller completely different approach. First of all, the data that you're going to use and how you're going to monitor is very different KPIs, you're going to use different the methodology for scraping the data, completely different, like the number of times a day, the locations, the frequency, all of that, like the method for forgetting the Data API into into Amazon accounts, like the entire method is different than for mapping it. And then what you do with the data is also different. So you know, getting that usually into the hands of the brands and some sort of legal expert to help is lead with legal expert legal expertise, because you're communicating with unauthorized sellers, you have to do that in a very specific way. And then the KPIs that you're going to use to measure that are are different as well authorized sales increase, average list price increase, but again, a platform a set of tools, any, whether it's AWS or any other tools are using need need to be able to connect the data to the person through the workflows in one environment connected all together, so that you can set your KPIs and then measure the KPIs and the back and close the loop to use a term from my digital media measurement days. So we're coming down to the wire, we've got three minutes left, we have loads and loads of case studies of this kind of work. So there's one this was from a few years ago, we had started the pet brand. You know, Amazon really came came on the scene and was a, you know, a major disrupter for their brick and mortar and professional channels. And it's just like random unauthorized three P sellers at one point their map compliancy, like 20%, it was it was just a pricing, like kind of a pricing mess. So using some of the data driven prioritization that the Jay talked about, and then some pretty, you know, pretty aggressive enforcement actions that who does what right with with what data and then putting in some distribution version controls, you know, this brand saw been over a year and that's why like 9 million bucks and, and monthly authorized revenue going up. So $750,000 a month, over a one year period. We do a lot of work with durable goods as well. So kitchenware, brands, similar kind of thing, a lot of gray market sellers across multiple marketplaces, he got to the end, he had to channel disruption across marketplaces. So we're able through the targeted enforcement to remove most of the disruptive sellers, they went to an exclusive three P is how they decided to go to market on Amazon. So they shifted their selling strategy when exclusive three P, and then did a bunch of work with with their their distribution team and some policies in place about reselling to control the diversion that was happening upstream. And again, like almost a million dollars a month. So that's like 11 to a million dollars a year opportunity. And then we do work with a lot of tech and tech, peripheral technology and peripherals that support that. And we saw in this particular case, a lot of like reuse, unopened repackage new packs, you know, that kind of stuff. And a lot of railroad, a lot of bad reviews, a lot of channel conflicts happening. And, you know, they worked with a legal partner of ours Bories, our parent company, to build legal foundation in place for enforcement. And then, again, a lot of diversion distribution practices. And they saw and what's that like 13 $14 million annually, about a million dollars a month in monthly authorized revenue increase. So just very tangible results, being able to close the loop like this just over and over and over again, across categories, we see this kind of very significant increase in in sales. So that's the core of the presentation, we do have a summit coming up. It's a joint presentation between Boise control and Precision eControl that's on the 26th in Columbus, you can scan a QR code and get more information to you about that sessions and all day section and thought leadership. We have extra it's not just a bunch of you control and worries people speaking there's thought leaders from from throughout the industry professors and brand owners, and it's a really a diverse group of people. And I think it'd be a super healthy and exciting conversation. So please write reach out if you'd like to learn more. So Tiffany, we are right at the bottom of the hour. Yeah, sorry.

Tiffany Serbus-Gustaveson 28:09

Well done, well done. I'm still like, my, my job is like dropped to the ground with that revenue of authorized versus unauthorized. That was the stuff I dreamt about when I managed an Amazon business for 10 years of like, I know, we're losing money, and then you have to go try to prove it to get investment or change in the process and change in the relationships that obviously had a lot of longevity historically, and emotions around them. And I couldn't prove it. So that alone is wow, that is so cool. Very cool. We have a couple questions. I'm just gonna sneak in here real quick before we all log off. But the opportunity, how do you calculate that?

Blake Burrus 28:53

So the opportunity dollars is just part of the onboarding, you tell us what your target price for a product would be. So can you Matt price could be your MSRP. It's whatever you say, for this product. Here's the target price. And then we look at the delta between what the actual list price is from third party sellers, even Amazon one p because they're forced to price match down right with the three P disrupts to look at what the actual list price is versus where you'd like it to be. You sum that up across all the offers across you know, all the days across all the storefronts, and that's what the opportunity dollars are. It's like this, I think of it as like money left on the table basic site size of prize. Yeah,

Tiffany Serbus-Gustaveson 29:27

absolutely. And then looking at this being different than other solutions that are out there. And there's been a lot and I tried a lot myself is the centralization of all of them parts coming together as one, that legal expertise being in the hub where the data lies where the process flows lie, and then you also integrate directly into these marketplaces. Correct. Is that via an API?

Blake Burrus 29:52

Yeah, that's That's right. So there are two data sources. So we API into the marketplaces and then we also have our own proprietary ways of going about a capture During when others are winning the buy box when it's not used to the scraping data, both from AP and the scraping data for the for the Buy Box information, we have created a bespoke set of tools that we brought in house and have our own methodology for that. So it's those those two pieces together. So is that the data sources in the data science behind bringing those two together to get to the revenue estimates that Jay showed? But yeah, the the other thing is that connection with legal like their tech alone can't do it. Because you can't get to the root cause and truly, then get, you know, get to resolution and legal alone can't do it. Because legal, it's not it's not scalable. But it's only needed platform, you need the data, you need the insights to be able to do this at some kind of scale. So the marriage of like all of this in one ecosystem where you can get the right insights flow it like we said, and have the right people take the right action is kind of I think something that's very respectful.

Tiffany Serbus-Gustaveson 30:53

That's so awesome. And the big takeaway of the day is 10 days a month, 1/3 of the month, you are losing the Bible acts as a bread. I mean, Whoa, that is incredible. So we definitely encourage a follow up conversation with Blake Jay and the team at Precision eControl. We could talk about this for hours. I mean, I'm kind of geeking out and want to like get in there like play around with it. So cool. Thank you all for joining today. We'd love to have a conversation with you. That's how we get the Intel and ideas for future content that we do with our webinars and in person events. So feel free to drop me a line Tiffany@bwgconnect.com. Again, thank you all for joining Blake and Jay awesome information. Thank you so much for sharing, and we hope to see you all on another event. Take care and have a lovely week. Bye.

Read More
Read Less

What is BWG Connect?

BWG Connect provides executive strategy & networking sessions that help brands from any industry with their overall business planning and execution. BWG has built an exclusive network of 125,000+ senior professionals and hosts over 2,000 virtual and in-person networking events on an annual basis.
envelopephone-handsetcrossmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram