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IRP Version 8.8.0 - Bringing Trading Data to the Centre of Decision Making

IRP continues to invest in data to bring accurate trading data for greater visibility and control.
Author
08 August 2023 - 3 min read

IRP Version 8.8.0 is a large software release and contains an upgrade to the latest PayPal version, enhancements to Marketing Cloud, Feed Manager and the release of the Daily Trading Profits email.

IRP continues to invest in data to bring accurate trading data to the centre of decision making.

The focus on efficiency, increasing visibility, controlling merchant costs and increasing sales is critical to current and future IRP platform thinking and development.

PayPal Gateway Rebuilt in Partnership

PayPal part funded this 3 month development project deepening our partnership with this key Technical Partner.

The latest version of PayPal brings new merchant opportunities as well as improved user experience, more payment options and increased conversion potential. Online shoppers still have the ability to checkout directly from the basket or in the checkout flows, but they now have additional payment options like Pay Later. This is PayPal's own implementation of the popular 'Klarna' method of paying for purchases.

The latest PayPal version works seamlessly with your IRP (whether desktop, mobile or tablet) and should help with your customer conversion while reducing payment failure rates.

Highlights included:

  • Increased Conversion
  • Improved UX
  • Pay Later Options
  • PayPal Credit Cards
  • Wide Range of supported Countries
  • More Currencies Supported
  • Alternative Payment Methods

Talk to your AM or CSM about the opportunities that the latest PayPal version brings to merchants.

Marketing Cloud Contribution to Sales

IRP Marketing Cloud contributes an unrecognised 70% of Merchant’s revenues.

Marketing Cloud delivers huge value to merchants all contained within the transaction fee. First Party systems are critical for the future of ecommerce - and no other system has an email campaign product and a feed management tool built directly into the core platform.

IRP saves merchants from significant additional costs for plugins and 3rd party systems providing features directly in your IRP. An email system, such as Klaviyo, may cost merchants an additional £2,000-£3,000 PER MONTH on top of monthly transaction fees. Whereas Feed Manager is simply an unmatched product in scope - and a large number of plugins cannot cover the 40+ Shopping feeds that IRP provides out-of-the-box in Feed Manager.

Merchants can now see ‘contribution to sales’ when entering the Marketing Cloud for IRP Core products - Email Manager and Feed Manager. This is important to Merchants as they strive to maximise the sales from email campaigns (Email Manager) and expand their product visibility and international traffic (Feed Manager).

Highlights included:

  • Last 30 Days Sales
  • Last 30 Days % Sales
  • YTD Sales
  • Domestic v International

Feed Manager

One of the most important powerful features of an IRP is Feed Manager. It currently generates over 50% of Merchant sales to all world regions. Feed Manager provides unmatched product distribution with instant access to 40+ Google Shopping and Facebook feeds ready to use and internationally configured.

We’ve invested in Feed Manager UX, making it much easier to use and understand. Expand your international reach by easily enabling inactive feeds and viewing the contributions to your active feeds.

Simply click the Marketing Cloud logo at the top of your IRP to get started.

Highlights included:

  • Improved UX
  • View your Active Feeds
  • Easily enable feeds
  • Sales contribution last 30 Days
  • Check your Partner ID’s
  • Check Feed Status
  • Copy your Feed URLs
  • Set Restrictions and Exclusions

Trading Profits Daily Email

The IRP platform has unique capabilities in tracking sales and attributing costs. This offers ‘tight control’ of ecommerce business. We continue to leverage first-party data in ‘Trading Profits’ for merchant benefit.

Merchants will receive a daily ‘Trading Profits’ email showing the previous day's sales total and associated traffic costs.

‘Trading Profits’ shows how Traffic, Conversion and AOV mathematically make the sales number - and how the traffic costs impact profitability. ‘Trading Profits’ also shows your traffic service provider performance with direct access to the IRP Service Marketplace.

‘Trading Profits’ is another innovation on our journey to IRP Version 9 - where IRP will bring merchants more visibility and control to sales growth, traffic costs and profitability.

Don't hesitate to contact your Account Manager if you have any questions about any of the features in this release.

IRP VERSION 9 IS BUILT FOR DAY TRADING AND WILL BE RELEASED IN Q4

Working towards IRP Version 9

Knowing your “Daily Takings” is a primary driver of IRP’s Day Trading ethos that underpins all of IRP’s work.

IRP continues to increase the accuracy of data and to bring Traffic Cost and profit to the centre of decision making. We’re currently working on IRP Version 9 bringing you more visibility on daily sales in Trading Terminal but also in the Insights App.

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