Kurt Peters , Executive Editor
ORLANDO – February 13, 2007 – Channel Intelligence today announced two new intelligence data services for its CommerceIQ™ platform that enable online retailers to improve ROI and sales in comparison shopping engines and online marketplaces. AttributeIQ™ is the first solution on the market to deliver the product attributes now required to advertise products on Google Base, Amazon and other leading shopping channels. KeywordIQ™ complements this technology by identifying, ranking and integrating high-performance keywords in these shopping channels.
The new intelligence data services from Channel Intelligence are designed to help online retailers take advantage of the trend toward guided product search, which allows consumers to refine their search using attributes and keywords. Amazon started mandating product attributes for its marketplace in June 2006, and Google has set a March 1 deadline for compliance. As the trend toward guided product search accelerates, online retailers must choose between exclusion from key shopping channels or investing in improving their product data. Channel Intelligence solves these data issues through its unique attribute and keyword discovery process designed to deliver on key performance metrics.
“Online retailers can leverage this as an opportunity to enhance their performance, as consumers who narrow their product search using attributes are more likely to purchase,” explains Rob Wight, President and CEO of Channel Intelligence. “This leads to improved conversion rates and more valuable clicks from shopping engines and online marketplaces. AttributeIQ and KeywordIQ are the latest innovations that continue to keep Channel Intelligence at the forefront in helping online retailers benefit from shifts like this in the market.”
As a part of the suite of offerings within SellCast™Retailer Solutions, the new AttributeIQ™ and KeywordIQ™ integrate with the existing CategoryIQ™ and ModelIQ™ technologies to deliver the industry’s most complete, powerful solution for performance-based data enrichment and marketing effectiveness.
CategoryIQ™ – Every product is individually placed into the correct category within the universal taxonomy created by Channel Intelligence, which is currently supported by over 25 online shopping channels. In addition to powering intuitive category-based search for products, the context provided by these detailed product clusters allows for powerful data analytics and enables further data enrichment.
ModelIQ™ – Every product is matched against the product catalog of each shopping channel using a patented product unification process, resulting in more products appearing on the shopping channels even if product identifiers like Manufacturer and Model Number are incorrect or different from the values expected by the shopping channel.
AttributeIQ™ – Relevant product attributes are automatically extracted from the retailer’s online product catalog and used to power guided product search at the leading shopping channels. This increases click-thru value from these shopping channels due to the increased likelihood of purchase by consumers who narrow their product search using attributes.
KeywordIQ™ - Search terms used by consumers to find and buy specific products are captured and then measured against retailer-defined performance metrics. High-performing keywords are used to attract qualified consumers, while low-performing keywords are eliminated to minimize click-thrus from consumers that are unlikely to buy.
Example: How the Four Types of Product Search Work Together
A retailer that markets a black leather handbag will attract qualified buyers by ensuring 1) the product is correctly placed into the correct type-based category (even if the retailer uses merchandising categories like “New Arrivals” on its own site); 2) the product identifiers match the values expected by the shopping channel; 3) the product listing includes keywords that drive conversion instead of attracting online window shoppers; and 4) the product is assigned key attributes like brand name, material, color, occasion, and gender that are relevant for consumers interested in buying that particular product.
The AttributeIQ™ and KeywordIQ™ technologies are now available through SellCast™ Retailer Solutions from Channel Intelligence. SellCast is the leading solution for the syndication, optimization and management of product data for comparison shopping engines and online marketplaces.
About Channel Intelligence
Based in Orlando, Florida, with offices in Geneva, Switzerland, Channel Intelligence is a leading provider of innovative data solutions that make it easy for online shoppers to find and buy products whether they start at retailer sites, manufacturer sites or destination shopping sites. CI’s patented optimization technology and data solutions currently manage and syndicate over $3 billion in product value to over 50 destinations every day. CI customers include nearly 200 of the best known retail and manufacturing brands such as Best Buy, Baby Universe, Black & Decker, Canon, Circuit City, Electronic Arts, eToys Direct, Fujifilm, HP Home and Home Office, ICE.com, Idea Forest (Joann.com), LG Electronics, Northern Tool + Equipment, Neiman Marcus Group, Olympus, Panasonic, PC Mall, PETCO, Smart Bargains, Target, The Inside Store and Things Remembered. For more information, visit the company’s website at http://www.channelintelligence.com.
Channel Intelligence, Inc.