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Coremetrics Keeps eCommerce Smart with Intelligent Offer
Cross-Sell and Up-sell Recommendation Offering Found to Lift Online Revenue by
as Much as 20 Percent
SAN MATEO, Calif., June 10, 2008 – Coremetrics, the leading provider of digital marketing optimization solutions, today announced that Intelligent Offer, the company’s cross-sell and up-sell recommendation solution for online businesses in retail and financial industries, has been found to increase revenue by as much as 20 percent in as little as one week. Intelligent Offer empowers marketers with a complete history of visitor behavior to provide highly relevant, product offers, recommendations and experiences based on complete history, actions and interest of online user behavior.
Over 65 online businesses currently use Intelligent Offer to deliver relevant product recommendations to the right customers at the right time. Some documented successes include:
- Footsmart.com, the largest direct retailer of foot and lower body healthcare products in the United States, implemented Intelligent Offer to improve relevance and profitability of cross sells. As a result, cross sells as a percentage of total online sales, increased 70 percent.
- Blair, a multi-channel apparel retailer, has realized a 70 percent increase in cross sell revenues using Intelligent Offer. With this increase, Blair was able to attain complete ROI within the first month of implementation.
According to a recent survey conducted by Forrester Research, designed to uncover the strengths and weaknesses of business and technology decision-makers, it was discovered that adopting eCommerce best practices challenges many organizations. Forty percent evaluate their capabilities to cross-sell and up-sell through eMarketing as being poor/below average. Analyst William Band writes: “As the Internet fast becomes one of the most important sales channels in many industries, enterprises cannot afford not to be participating fully.”
“We were able to implement Intelligent Offer right out of the box,” said Laura Thorpe, eCommerce Manager for Marketing & Merchandising at Bealls Department Stores.
“We put our rules in and then just let it run. I don’t ever worry about it—it just produces sales.”
With its intuitive interface and seamless integration with the Coremetrics Online Analytics Platform and Coremetrics LIVEmail, Intelligent Offer is the first closed loop solution that can be deployed and implemented quickly and managed without the need for dedicated resources or expensive programmers. The launch of Coremetrics Spring 2008 includes enhancements to Intelligent Offer that enable businesses to get even better lift on cross-sells by easily building sophisticated recommendation rules based on categories and on product attributes, such as product margin, price and product review score. Once rules are defined, marketers can apply them globally, to categories of individual products. Recommendations are designed to reflect changing customer behavior patterns and new product introductions.
“Providing relevant product recommendations not only delivers a valued service, but also enables the discovery of products visitors might not know were offered,” said John Squire, Chief Strategy Officer for Coremetrics. “Across our client base, we’re seeing increasing demand for Intelligent Offer as businesses are realizing how powerful presenting the right recommendations at the right time can be for improving the online experience and increasing the likelihood for visitors to buy.”
For more information on Coremetrics Intelligent Offer visit: http://www.coremetrics.com/solutions/cross_sell.php. For more information on Coremetrics 2008 visit: http://www.coremetrics.com/solutions/explore.php
About Coremetrics
Coremetrics is the leading provider of digital marketing optimization solutions. Its solutions generate high return on online marketing investment and continue to pay daily dividends in improved marketing performance. Over 1,000 online business sites, transacting over $15 billion this year, are now using Coremetrics’ Software as a Service (SaaS) solution to optimize online marketing efforts. Coremetrics’ solutions encompass advanced online analytics and precision marketing applications, including search engine bid management, email marketing and cross sell applications to acquire customers more cost effectively, increase conversion rates, and increase lifetime customer value. Clients have recognized over $300M in documented ROI and 87% of clients recognize ROI in 12 weeks or less. The company is privately held with funding from 3i, Accel Partners, FTVentures, and Highland Capital Partners, is headquartered in San Mateo, California and competes with Omniture and WebTrends. To learn more about Coremetrics, visit www.coremetrics.com or call 877-721-CORE.
Coremetrics has strongly supported online privacy since its inception. To learn more, visit www.coremetrics.com/privacy.
Press/Analyst Inquiries:
Bryan Pope
LEWIS PR for Coremetrics
Tel: (415) 992-4400
Email: coremetricspr@lewispr.com
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