Coremetrics Reaches 1,000 Customer Milestone
Sees Demand Accelerate for Automated Digital Marketing Solutions as Companies Integrate Search and Web 2.0 Technologies
San Mateo, Calif.—March 5, 2007—Coremetrics™, the leading provider of on-demand web analytics and precision marketing solutions, has recorded 85% growth in annual revenues for 2006 and a 220% increase in revenues for the fourth quarter of 2006 over the same period in 2005. The company has experienced a surge in demand for its solutions as large corporations strive to meet the expectations of a new generation of online consumers. Digital marketers are updating their online offerings to bring them in line with more intelligent, dynamically-updated Web 2.0 services and are turning to Coremetrics' precision marketing platform to leverage these services and achieve greater insight into customer behavior.
Coremetrics has also reached the 1,000 customer milestone, signing clients including Amerimark, Bealls Department Stores, Blair Corporation, Lenox, Orkin, Inc. and SmartBargains.com. Throughout 2006, the company continued to achieve a 95% client retention rate, which exceeds the industry norm.
In 2006 Coremetrics made significant developments in product innovation, including boosting its Precision Marketing Suite with new features in the fields of search and e-commerce. It has seen 300% growth over 2005 in its search platform and services. Through strategic partnerships and product development, Coremetrics has also demonstrated leadership in the field of marketing automation—the best way for marketers to save time on administration and focus on value generation.
"These are all important signs of how diverse industries are changing the way they approach the web, and how an open, collaborative approach pays real dividends when it comes to putting all available behavioral data into action," said Joe Davis, president and CEO at Coremetrics. "Businesses are learning that, in order to compete in an era of 'Web 2.0' savvy consumers, it takes not only in-depth analysis but also automated marketing solutions to translate strategy into sales. Our clients are benefiting from easy access to a behavioral marketing platform which is uniquely focused on improving their bottom line."
To meet the surging worldwide demand for automated marketing solutions, the Coremetrics team grew dramatically in 2006. Its worldwide sales team doubled in size over the year. Much of this growth was due to its success in Europe where the company grew its revenues over 700%, doubled its staff and opened offices in Germany and France. Coremetrics also expanded its channel program with new resellers including Brulant, Perficient, Sirius, and Strategic Computer Solutions.
In April 2006, Coremetrics acquired IBM's SurfAid division. The SurfAid product was the leader in providing premier on demand Web analytics services for non-transactional businesses. Since the acquisition Coremetrics has built this IBM technology into its product suite, bringing richer functionality, as well as more powerful vertical sector integration, to its web analytics.
Coremetrics also partnered with the IBM WebSphere Commerce team for exclusive integration and ongoing joint development with the WebSphere Commerce environment, which provides joint clients with closed-loop marketing at dramatically decreased deployment speeds. Based on this success, Coremetrics opened up its API to allow other digital marketing companies to access its unique LIVE Profiles and development environment. Key search marketing partners such as YourAmigo and Mercent have also developed new solutions which will be added to the Coremetrics Precision Marketing Suite of automated applications.
Coremetrics will be opening up its industry-leading data platform, LIVE Profiles, to additional partners in 2007. Partners will be able to build and integrate front-end marketing applications based on precise individual visitor information, resulting in quantifiable business benefits.
About Coremetrics
Coremetrics is the leading provider of on-demand web analytics and precision marketing solutions, offering the industry's only web analytics platform that captures and stores all customer and visitor clickstream activity to build LIVE (Lifetime Individual Visitor Experience) Profiles. Representing the single most accurate and comprehensive source of online customer data, LIVE Profiles serve as the foundation for all successful digital marketing initiatives. Coremetrics services more than 1000 leading brands and has delivered over $300 million in documented ROI in the past two years. Coremetrics is also the integrated web analytics solution for IBM WebSphere Commerce, delivering a best-of-breed multichannel business analytics solution. The company is privately held with funding from Accel Partners, FTVentures, and Highland Capital Partners and is headquartered in San Mateo, California. 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.
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