The company plans to use the funds to expand internationally.
Web analytics provider Coremetrics Inc. adds more CRM experience at the top. Web analytics and CRM are becoming increasingly intertwined as both segments mature online, says new CEO Joe Davis.
Web analytics provider Coremetrics Inc. has tapped the former group vice president and general manager of PeopleSoft Inc.’s CRM business as its new CEO. Joe Davis, also the former president of Nortel Networks` e-business division and the vice president and CRM general manager of business service management software developer Remedy, tells Internet Retailer that CRM and web analytics are increasingly intertwined as both mature online. Coremetrics will be positioning itself for that trend by adding functionality that helps marketers and merchandisers better use the data collected from CRM and by expanding partnerships with other specialized vendors to deliver that intelligence, he says.
Coremetrics collects customer data in what it calls LIVE Profiles – for lifetime individual visitor experience – which capture and store every click of an individual visitor on a Coremetrics customer`s site. Currently, the LIVE Profiles database at Coremetrics includes 1.2 billion profiles, drawn with some overlap from more than 200 online brands. Davis likens the collected information in the database to “the central nervous system of the customer experience," a repository of information to support not just customer service but customer outreach.
One Coremetrics product, for example, called LIVEmail, pulls data by customer out of the database and passes it to outsourced e-mail vendors with which Coremetrics has partnerships. “If it’s winter and your customer is in Florida, you don’t want to send an e-mail campaign on winter coats,” says Davis. “So the customers of these outsourced e-mail vendors know that as their data come in, it’s gone through a lot of analytics from Coremetrics.”
In addition to leveraging the LIVE Profiles database through partnerships with other types of service vendors for its retailer customers, Davis says Coremetrics will intensify its push beyond retail to supply analytics to other online segments such as financial services and content sites. The Bank of America already is a customer. “Our goal now is to continue our growth on the retail side and continue to sell this product into other areas,” says Davis.