In its second-largest acquisition, Amazon buys the company for $970 million.
Lexity enables e-commerce merchants to manage online advertising across multiple channels.
SAN FRANCISCO (Sept. 28, 2011): Vurve, the marketing-as-a-service pioneer that puts “advertising on autopilot,” today announced that it has rebranded to Lexity, Inc. In conjunction with the rebranding, Lexity revealed the industry’s first and only “Ad Intent” system for e-commerce merchants of all sizes. Lexity is changing the conversation from tactical concepts – such as keywords, adgroups and creative – to specific Ad Intents. Now, merchants can simply indicate precisely what they want to their advertising to accomplish (i.e., drive brand awareness, drive product interest, drive purchase commitment, drive repeat purchase) – and Lexity will automatically build, run and optimize the ad campaign across media channels to achieve that goal.
A demonstration of Lexity in action can be viewed at: http://www.youtube.com/watch?v=dz1kl2M3JD0&hd=1.
Lexity enables merchants to choose their precise Ad Intent and then automatically generates the right ad creative, media channel mix, audience targets and timing to meet this intent. Lexity has designed Ad Intents using the classic AIDA model to support the entire marketing funnel:
- Awareness Intents – Merchants looking to build brand awareness can select Themes to target this intent to advertise their store broadly across the right combination of search, display and social channels.
- Interest Intents – To generate interest in specific products, merchants can use Themes for the Interest Intent to deliver the right ad through search, display and social channels.
- Evaluation Intents – Merchants can use this intent to facilitate comparison shopping using Themes that submit shopping engine feeds.
- Commitment Intents – To drive customers to complete their transaction, Themes focused on the Commitment Intent utilizes retargeting techniques to drive the prospect to purchase.
“Online advertising has become so sophisticated over the last few years that e-commerce merchants now have a host of options – from display to search to social to retargeting – to help them meet precise marketing goals. But with this sophistication has come real complexity as merchants try to determine not only what channels to use, but how to effectively manage them,” said Amit Kumar, founder and CEO of Lexity. “Lexity completely eliminates the complexity from online advertising. Unlike other approaches and ad platforms that try to force-fit merchant objectives into whatever ad media they’re selling, we are entirely focused on what the ad needs to accomplish. It is an affordable and simple model to advertising that has not been seen since the early days of self-service AdWords.”
Automating the Minutiae
Lexity offers a simple process that lets merchants select their Themes, create the ad, and execute – usually less than 10 minutes. As a result, the complexity of traditional marketing tools and services are eliminated:
- No Multiple Account Management – Lexity manages accounts automatically on all ad media on behalf of merchants, including Google Adwords, Google Analytics, Google Webmaster Central, Google Merchant Center, Facebook, Microsoft Advertising, etc.
- No Fiddling with Script Tags – Lexity automatically adds and manages analytics instrumentations to merchant websites, so they don’t have to fiddle with script tags.
- No Keyword Management – Lexity automatically generates keywords, organizes them in adgroups and bids based on performance in real time. Merchants can review and add more keywords at any time.
- No Ad Creative Management – Lexity automatically creates and manages ad creatives. Merchants can review and edit the ads or upload their own ads if they prefer – but they don’t have to.
- No Need for Daily Account Reviews – Lexity’s cloud-based servers constantly review customer accounts, every hour, for new information that can be used to improve the campaign performance.
Industry-first Metrics for End-to-End Conversion Tracking
For the first time ever in advertising, Lexity is introducing metrics that measure precisely how each Theme is performing. These metric include detailed reporting on:
- How many visitors the Theme attracted?
- How many page views did a Theme lead to?
- How much total time did visitors coming through this Theme spend?
- How many products did visitors coming through this Theme view?
- How many products did visitors coming through this Theme add to a shopping cart?
- How much revenue did this Theme generate?
Additionally, Lexity offers a real-time view of customer activity through its Live View.
Live View shows all the visitors that are interacting with the store at that precise moment, including Conversion Paths® that tracks the paths customers take in navigating the store on their way to the final conversion.
Lexity (previously known as Vurve) puts “advertising on autopilot” for small businesses, providing the most affordable, simple and effective way for e-commerce merchants to manage online advertising across multiple channels. Backed by Spark Capital, True Ventures and Dave McClure’s 500 Startups, Lexity is headquartered in Mountain View, in the heart of Silicon Valley, and has a presence in Bangalore, India. For more information, visit www.lexity.com.