In its second-largest acquisition, Amazon buys the company for $970 million.
iPhrase Technologies` search technology matches queries with results; Coremetrics` web analytics capture user behavior. A blended offering combines those tasks to drive better online merchandising and navigation, boost conversion and cut service costs.
iPhrase Technologies’ OneStep site search and customer interaction technology matches queries – whether product or information searches – with the right results; Coremetrics web analytics captures individual user behavior within sessions. A new blended offering from the companies combines those functions to drive better online merchandising and navigation design, and reduce escalation to higher-cost support channels.
Connecting user queries with relevant results, iPhrase’s search interface provides insights into the terms and concepts users search under, and how they refine search results. In the combined solution, Coremetrics’ session information also layers in data on what products users purchased, whether they abandoned the site right after a search or later, and whether they got satisfactory answers from their online search or escalated to another, higher-cost channel such as chat to resolve a query. The combination of detailed search data and session-level data provides a detailed analysis of how specific searches lead to conversions and reduce service query escalation.
By providing a window on what visitors purchased and the search terms they used, the conversion module of the combined offering helps retailers improve site search capabilities, navigation and merchandising to boost conversions. In addition, a separate escalation module provides visibility into how customers move to higher-cost service channels when they can’t resolve queries online. That understanding stands to reduce the support costs associated with service in other channels, according to the companies.
“Working together, iPhrase and Coremetrics are enabling users to track and analyze how site searches lead to increased revenue and reduced costs,” says John Squire, vice president of product management for Coremetrics. According to Eric Peterson, retail technology analyst at Jupiter Research, “Retailers can find out what people are buying from search, then play that up in site navigation and merchandising.”