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Coremetrics Achieves Record Growth in 2007
Sees Demand for Solutions Grow as
Digital Marketing Optimization Market Matures
SAN MATEO, Calif., – January 15, 2008 – Coremetrics, the leading provider of digital marketing optimization solutions, has achieved over 70% growth in new business for 2007 and a compound annual growth rate of 61% over the past five years. The company has experienced a surge in demand for its digital marketing solutions, bringing a raft of new clients on board and new products to market, as well as receiving industry recognition from leading analyst firm, Forrester Research.
Over the course of the year, Coremetrics has dramatically increased its customer base by 46%, adding clients from diverse sectors, such as B&H Photo-Video, Consumer Cellular, Desjardins Group, Diageo, eImprovement.com LLC, Lastar, Loews Hotels, Newegg.com, Orkin, Inc., Panasonic, Publishers Clearing House, Shane Co. and VEGAS.com. The company also maintained its leading position as the provider of services to the top online retailers in the industry.
In September 2007, Coremetrics Online Analytics was named as a Web Analytics “Leader” in The Forrester Wave™: Web Analytics, Q3 2007 report, with the highest score for “Strategy,” a section of the report designed to predict a vendor’s likelihood of future success. In addition, the company received the highest score in “Product Direction,” a sub-category designed to showcase a vendor’s product strategy.
During 2007, Coremetrics launched several new products and enhancements to its digital marketing optimization suite: Marketing Attribution with 3D Marketing Analytics, Coremetrics 2008, Coremetrics SMB Solutions and LIVEmail 2.0. With these new products, Coremetrics is able to provide its customers with multi-faceted analysis of their digital marketing strategies, in order to fully comprehend online consumer behavior over a lifetime, rather than just at the first or last click.
Additional 2007 Coremetrics highlights include:
- International expansion – A key part of Coremetrics’ strategy in 2007 was continued growth and increased presence in overseas markets, with a major focus on EMEA and the Asia Pacific region. The company announced the appointment of key executives across EMEA and in Australia, who will be core to the company’s ongoing international growth and expansion. During the course of 2008, Coremetrics plans to significantly increase its headcount in the EMEA region, as well as establishing presences in China and Japan.
- Coremetrics once again partnered with IBM, capitalizing on Web 2.0 features to provide embedded analysis for WebSphere Commerce Web 2.0 Store customers, and to provide customers with a more streamlined user experience. Among the companies to benefit from this partnership was philosophy, Inc.
- Performance improvements – During 2007, Coremetrics continued to focus on increased scalability, with a 40% increase in processed data and more than 400 trillion transactions managed. It also cemented its position as an innovative SaaS provider, uniquely positioned to offer hands-on business support in conjunction with an on-demand solution that embeds industry-specific best practices, helping clients interpret and make best use of their data.
“Over the next year, our own internal research shows that overall digital marketing spend will reach approximately $22 billion, so it’s imperative that brands understand how to maximize these efforts, so they can reap substantial ROI,” said Joe Davis, President and CEO of Coremetrics. “With recent consolidation in the digital marketing optimization space leading to some uncertainty, companies are looking for a clear, consistent partner, who is vested in their long-term strategy and success. Coremetrics has proved its strong leadership in this industry, and we look forward to an even more successful 2008.”
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 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 http://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.
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