Perfect Knowledge of All Online Activity Enables World’s Largest Intimate
Apparel Company to Optimize Shopping Path Design, Reduce Web Site
Abandonment Rates & Increase Customer Retention
Burlingame, CA – July 29, 2002 – Coremetrics, the leading web services
provider of marketing analytics solutions, today announced that Victoria’s
Secret has selected Coremetrics to optimize the online customer experience
and improve online profitability. Coremetrics provides Marketforce, a
complete data capture, storage and decision-support system that allows
companies to achieve knowledge of customer and visitor activity within the
online channel. Victoria Secret will leverage the knowledge delivered by
the Coremetrics online marketing analytics platform to optimize shopping
path design, reduce Web site abandonment rates, and improve retention
marketing initiatives. Victoria’s Secret is the world’s largest intimate
apparel company and is consistently ranked among the top ten largest online
retailers.
“We view the Victoria’s Secret web site as a natural extension of our
catalog and brick and mortar stores,” said Ken Weil, vice president of new
media at Victoria’s Secret. “We are very focused on customer service, with
a firm commitment to making the online experience as rewarding for customers
as our catalog and in-store experiences. Coremetrics provides extremely
detailed analysis of our customers’ online behavior, delivering insights
that help us improve the online shopping experience and run our web site
more effectively. The combination of a rewarding shopping experience and
increased efficiencies in managing our online channel has resulted in
opportunities for revenue enhancement.”
Coremetrics Marketforce is the industry’s only marketing analytics platform
that captures and stores all customer and visitor clickstream activity to
build LIVE (Lifetime Individual Visitor Experience) Profiles of online
customers and visitors that serve as the foundation for all successful
marketing initiatives. Victoria’s Secret is able to leverage the LIVE
Profiles in Coremetrics Marketforce to analyze the shopping paths of
specific customer and visitor groups in detail, highlighting back button
navigation and high departure rates that often indicate potential problems
in the customer experience. Victoria’s Secret has utilized Coremetrics
Marketforce to achieve significant improvements in web site design that
result in reduced shopping cart abandonment, increased repeat visits to the
company’s online store, and greater revenues. Unlike competitive solutions,
Coremetrics Marketforce is deployed within weeks to deliver immediate ROI,
and requires no new hardware or software purchases.
“With the foundation of an incredibly valuable brand and a powerful online
presence, constant improvements in customer experience are critical to
continued success for Victoria’s Secret,” said Scott Kauffman, president and
CEO of Coremetrics. “We’re honored to be an integral component of their
e-commerce strategy, delivering perfect knowledge of online visitor and
customer behavior through our LIVE Profile technology. Our relationships
with leading companies like Victoria’s Secret confirm that Coremetrics is an
ideal strategic partner for online businesses, providing essential tools for
companies to achieve all of their online profitability and retention goals.”
About Victoria`s Secret
Victoria Secret is the leading specialty retailer of lingerie and beauty
products and is a business of Limited Brands (NYSE:LTD). One of the world`s
most recognized brands, Victoria’s Secret offers modern, fashion-inspired
collections, prestige fragrances and cosmetics in over 1,000 stores across
the country, a catalogue and e-commerce site, www.VictoriasSecret.com.
Victoria’s Secret’s total brand sales in 2001 were $3.3 billion.
About Coremetrics
Coremetrics is the leading web services provider of marketing analytics
solutions, empowering companies to develop and act upon a comprehensive
understanding of all visitor and customer interactions within their online
channels. Coremetrics Marketforce is the industry’s only online marketing
analytics platform that captures and stores all customer and visitor
clickstream activity to build LIVE (Lifetime Individual Visitor Experience)
Profiles that serve as the foundation for all successful marketing
initiatives. Coremetrics Marketforce enables online marketers, IT officers,
and e-commerce executives to attract and convert high value visitors,
optimize shopping path design, and increase customer lifetime value.
Customers include Ann Taylor, The Columbia House Company, Grainger, Nortel
Networks, Victoria’s Secret and Wal-Mart. Coremetrics is headquartered in
Burlingame, California with research and development offices in Austin,
Texas. The company is privately held with funding from Accel Partners,
General Catalyst, and Highland Capital Partners. To learn more about
Coremetrics, visit the company`s Web site at http://www.coremetrics.com or
call 877-721-CORE.
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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.
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