Terapeak was a "big data" company before the concept of big data was being used as an industry buzzword—and on Tuesday the 16th, CEO Kevin North appeared on eBay Radio to talk about Terapeak as a big data innovator, our revolutionary new MySales product, Terapeak's strategy to begin delivering valuable insights to its customers proactively, and how Terapeak continues to help new eBay sellers to grow into top eBay sellers by providing them access to the data and strategies that top sellers already use.
Kevin North on Terapeak and Becoming CEO
When asked why he chose to become CEO of Terapeak, Kevin explained that he saw a huge opportunity in Terapeak and seized it. Kevin explained that Terapeak had long been an innovator in the world of big data and analytics, and that it remained a unique company with a uniquely valuable product. "Terapeak was doing analytics that no other company in the world was doing," said Kevin, "and I felt that the sky was the limit."
Kevin said that the company's history and powerful products were a big draw. "Big data is now a common term," he said, "but Terapeak was doing big data 8 years ago, before these terms were even being used"—a view that eBay Radio host Lee Mirabal quickly echoed, saying that “Terapeak is the first place we send newbies and intermediate eBay sellers. We love Terapeak here at eBay Radio. We get it!”
On Terapeak's Goals Under Kevin's Leadership
When asked what customers would see from Terapeak under his leadership going forward, Kevin focused immediately on customers' experiences with Terapeak products.
"We're really, really focused on the customer experience," Kevin explained. "It's almost biblical at Terapeak—we have very specific, customer-centric principles. We have a lot of employees that actively sell on eBay, and we spend time in the field with merchants." Kevin said that Terapeak was a careful observer of subscribers' relationships to its products, always searching for new and deeper understandings of the ways they use Terapeak for sourcing activity, selling workflows, and other aspects of the business cycle. Kevin wants Terapeak to continue to focus on customers' needs and to use this information it to drive product development.
Kevin also explained that while the history of the company has always been eBay-centric, he wants to take Terapeak one step further—rather than having customers come to Terapeak and its products for data, Kevin says that Terapeak is increasingly focused on a “push” (as opposed to a “pull”) analytics strategy. Through customized alerts and notifications, Terapeak will proactively deliver useful, actionable data directly to Terapeak customers to allow them to make quicker decisions by taking advantage of mobile technologies.
On The New MySales Product for Magento Users, supporting Magento, eBay and Amazon.com
When asked about Terapeak's latest product, the free MySales application for Magento, Kevin explained that MySales is unique in that it enables sellers to log in and see all of their sales data from Magento, eBay and Amazon—in real-time on one centralized dashboard. Though the product only supports Magento users currently, Terapeak plans to expand the MySales offering beyond Magento in the very near future. With MySales, Kevin explained, "we felt that we needed to create a more personal experience for the merchant—where a merchant can actually focus on their own performance across their ecosystem."
Kevin elaborated on the choice to use Magento as the starting place for MySales by saying that Terapeak's existing, positive relationships with X.com and Magento, and the powerful Magento platform, together provided a solid, accessible foundation for the MySales launch. Using Magento as a launch partner enables future, iterative MySales development, including planned availability for sellers that do not currently use Magento.
On Plans for Terapeak for eBay
When asked what Terapeak for eBay users can expect over the coming twelve months, Kevin discussed Terapeak's plans to integrate the MySales product into the existing Terapeak for eBay subscription during the coming year—a change that would make the power of MySales available to every Terapeak subscriber.
"MySales will essentially also become a feature within the Terapeak for eBay product," Kevin explained, "so that it won't just be for Magento users; Terapeak and eBay users will have that integrated experience as well."
Kevin also discussed other planned enhancements to Terapeak for eBay, including a more personalized interface for existing users that offers ways to customize their Terapeak account with an eye toward their own business and needs, as well as plans to begin to provide data-rich alerts and "pushes" that provide relevant, real-time information that will continue to provide Terapeak subscribers with a competitive edge.
On Terapeak's Mobile Apps and Strategy
When asked about Terapeak's mobile strategy, Kevin explained that Terapeak's mobile strategy, with apps already available for iOS and Android, is closely related to Terapeak's eBay and MySales product strategies.
"Mobile is a natural part of a push strategy," Kevin said. "We're going to deliver real-time analytics to the merchant's doorstep, right to their inbox or mobile phone." Kevin explained that users without Android or iOS devices will still be able to enjoy the benefits of this strategy using SMS messaging instead.
Kevin said that Terapeak wants its subscribers to be able receive immediate, on-the-go information about changes and opportunities in the marketplace, from changes in buyer behavior or marketplace trends to tracking the activities of a seller's favorite buyers.
On Terapeak for New eBay Sellers
When asked how eBay "newbies" can make use of Terapeak, Kevin explained that Terapeak is one of the best ways to enter the world of eBay selling—one that helps at every step of the process, from sourcing products to developing pricing and listing strategies.
"We've got customers," said Kevin, "that are telling us that one transaction paid for their entire Terapeak subscription." Kevin explained that Terapeak regularly helps new users to understand how to emulate the choices and strategies made by the most successful eBay sellers.
"Information is power," Kevin explained, noting that top sellers already use Terapeak for sourcing decisions, managing cross-border trade and arbitrage, understanding what competitors are doing, and other critical selling tasks.
Kevin noted that while Terapeak makes all of this possible for many of the top eBay sellers, it also enables new eBay sellers to gain the same advantages, access the same real-world data, and learn the same strategies quickly and inexpensively.
The Future is Bright for Terapeakers
Kevin's interview with eBay Radio and hosts Jim "Griff" Griffith and Lee Mirabal show that great days are ahead for Terapeak and for sellers that use Terapeak data, whether big or small, eBay-focused or focused on other channels. For Terapeak and its subscribers, the present is great—and the future is even brighter.
The complete interview with Terapeak CEO Kevin North can be heard at eBay Radio's program archives.
To see how Terapeak can help you to start and grow your business, take advantage of Terapeak's free trial membership today.