A Profitero study showed Target’s online prices were 25% more expensive than Wal-Mart’s, which were just slightly more expensive than prices on Amazon.
Intelligent Offer automates cross-sell offers based on recorded visitor behavior for retailers including online and catalog merchant FootSmart. It’s one component of an enhanced tool set in Coremetrics’ new release.
The web site of FootSmart, a beta user of Intelligent Offer, a core component of a new tool set from web analytics provider Coremetrics Inc., saw cross sells rise 147% as a share of total online sales after implementing the new hosted feature. In addition, FootSmart saved about 20 hours of merchandising team staff time each week, the company estimates, by automating cross-sell offers based on visitor behavior.
“Not only have we increased the relevance of the offers, we have driven up conversions, sales and average order value while freeing up time to focus on other priorities,” says Sarah Bowler, senior manger of E-retail at Benchmark Brands. FootSmart is a division of Benchmark Brands Inc, No. 216 in the Internet Retailer Top 500 Guide to Retail Web Sites.
Intelligent Offer is one element of Coremetrics 2007, the recently launched new release of the technology provider`s on-demand web analytics and marketing solutions platform. All platform elements leverage data from Coremetrics LIVE profiles, which record visitor behavior across sessions. Intelligent Offer’s cross-sell recommendations are based on recorded shopper browsing and buying data, as well as rules set by the retailer user’s merchandising team.
Real-time campaign management is another enhancement of the previous feature set. A Real Time Monitor application, which displays both standard and customized metrics on a graphical dashboard, allows merchandisers to view web campaign results as they accrue. The real-time data allows merchandisers to make any alternations needed to optimize results to the campaigns or to the web site more quickly.
Along with other enhancements to its new web analytics offering, is a new reporting capacity, Conversion Events, that tracks the relative value of potentially thousands of events that represent non-commerce related web site goals, such as downloading information or signing up for a gift registry. The new reports are designed to help companies evaluate the performance of content or marketing-related programs in achieving their goals, according to Coremetrics.