For the First Time, All Online Marketers Can Measure Key Site Performance Indicators Such as Conversion Rates, Search Effectiveness, and Traffic Sources Against Industry Peers
San Mateo, Calif. – July 20, 2005 – Coremetrics™, the leading provider of hosted Web analytics and precision marketing solutions, today announced that the company will offer LIVEmark, the industry`s most comprehensive benchmarking solution measuring online consumer behaviors, to the entire online retail industry for a nominal fee. For the first time, any online retailer can measure key site performance indicators such as conversion rates, search effectiveness, and traffic sources against industry peers. Previously, LIVEmark was available only to Coremetrics customers.
The LIVEmark Index is the industry`s most comprehensive benchmark for eBusiness performance, providing critical comparison data for site-wide key performance indicators across more than 150 leading retail brands. Built on Coremetrics LIVE (Lifetime Individual Visitor Experience) Profiles, the most accurate and complete source of online visitor behavior data, LIVEmark enables e-retail brands representing more than $5.3 billion in annual online revenue to precisely measure themselves against industry averages for such key performance indicators as channel effectiveness, site stickiness, and conversion rates. LIVEmark participants gain a clear understanding of business performance relative to peers and competitors so they can optimize online marketing investments, anticipate industry trends, and build business success.
Allowing any online retailer to participate in LIVEmark will make the benchmark richer and broader, enabling both existing and new members to base key marketing decisions on critical comparison data. Brands currently participating in the index include: 1-800-Flowers, Abebooks.com, Abercrombie & Fitch, Alibris, American Eagle, Bass Pro Shops, Benchmark Brands, Bluefly, Cabela`s, Coach, CompUSA, Crutchfield, Eddie Bauer, Hanover Direct, Home Shopping Network, Lands` End, May Company, Northern Tool, Oakley, OfficeMax, Orvis, Petco, RedEnvelope, REI, Sears Canada, Sharper Image, Spiegel, Staples, The TJX Companies, Williams-Sonoma, and Yankee Candle.
"LIVEmark allows retail brands to gain a deep understanding of their competitive marketplace and to drive profitability in the online channel," said Joe Davis, Coremetrics CEO and president. "We serve more online retailers than all our competitors combined, so already, the depth and quality of our client base makes the LIVEmark benchmarks incredibly valuable. Opening the index to all retailers will make LIVEmark data even richer and more complete."
Unparalleled Depth and Accuracy
Coremetrics LIVE Profiles store all visitor and customer clickstream data for clients. LIVEmark enables online marketers to benefit from the unparalleled depth, accuracy and comprehensiveness of this data. The LIVEmark Index provides all participating companies with a set of aggregate benchmark metrics across the industry, as well as in their specific category. Unlike measurements that use extrapolations of survey or sampling data, LIVEmark collects a complete record of online visitor behavior, resulting in a precise measure of industry performance.
All metrics are created using consistent logic within Coremetrics 2005, providing accurate comparisons that are immediately actionable. For example, clients can compare the conversion rate of their on-site search engines to the LIVEmark Index to determine whether they need to increase investment in on-site search tools and optimization. Easy-to-use reports track company performance against the entire LIVEmark Index, as well as the appropriate sub-vertical category.
LIVEmark provides over 35 measurements and metrics in key areas including:
• Session Traffic: Comparing site effectiveness at key conversion points in the visitor experience allows eCommerce managers to determine where site content and merchandising investments are required.
• Visitor Experience: - The LIVEmark Index tracks site "stickiness" to let participants determine the value of their investment in rich media and content.
• Transactions: Key metrics, such as average order value, new visitor conversion, and shopping cart abandonment provide insight into the effectiveness of product creative, pricing, and placement relative to industry leaders.
• On-Site Search: Clients can compare the conversion rate of their onsite search engines to the LIVEmark Index and determine whether they should increase investment in on-site search tools and optimization.
• Online Marketing Campaigns: E-commerce managers can now measure their ability to drive and convert site traffic through direct load, natural search, referrals, and paid marketing channels. They will also be able to compare their marketing performance and investment levels to those of benchmark brands.
The LIVEmark Index includes a general benchmark of all participating retailers as well as specific benchmarks in seven categories: Apparel & Accessories, Specialty Retail, Sports and Outdoor, Home, General Merchandisers, Office & Electronics, and Gifts. To ensure that security and privacy are never compromised, summary data for participating clients is collected and aggregated to build the LIVEmark Index. Client-specific data is never made available to participating members or disclosed publicly.
Pricing and Availability
LIVEmark is free for existing Coremetrics customers. For non-Coremetrics customers, LIVEmark monthly service fees will be based on page views, beginning at $300, in addition to a one-time set-up fee. For more information, or to schedule a meeting with a Coremetrics representative, visit www.coremetrics.com/LIVEmark.
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 eBusiness initiatives. Leading online brands rely on Coremetrics LIVE Profiles to monitor and optimize the performance of multiple marketing campaigns, improve cross-sell and multichannel initiatives, and precisely target customers through intelligent marketing campaigns. Coremetrics services more than 400 clients and has delivered over $250 million in documented ROI in the past two years. The company is privately held with funding from Accel Partners and Highland Capital Partners and is headquartered in San Mateo , California with offices in Austin , Texas and London , England . To learn more about Coremetrics, visit www.coremetrics.com or call 877-721-CORE.
Coremetrics is the trademark of Coremetrics, Inc. Any other marks used in this document are trademarks or registered trademarks of the manufacturers or marketers of the products with which the marks are associated.