Coremetrics

Multiple Touch Points Analytics

Back in the day when we old analytics folks looked at the launch of Google Analytics, it was clear that the mass approach will come with a few downsides. One of those downsides that Google Analytics and many other analytics solutions faced, was the fact that user decisions happen via multiple touch points and not via a single action. Only Coremetrics was able to offer that, which is why many online retailers decided to got that route. Times have changed......now Google Analytics is offering multiple touch points analytics and with the seamless integration of Adwords it's a huge improvement for any Google Analytics user.

Here's the full video:

IBM Fires Shot at Google & Adobe, Acquires Coremetrics

IBM, long considered a behemoth of the technology industry, has often also been considered on the "outside looking in" for many of the last decades' web technology developments. As the company moves to solidify it's position as a vendor that can provide data computing power, their acquisition of web analytics firm Coremetrics adds a specialized product line that helps close the gap.

This move could be a shot right into the heart of online powerhouse Google and Adobe (which acquired Omniture). Coremetrics focuses their offerings on product analytics for the online commerce market, tracking data to a granular level, such as comparing the average sale for a specific company versus sales for other companies in the same or different sectors. The company also heavily relies on cloud computing strategies to enable more flexibility for it's customers' needs. All interesting fields for IBM.

Coremetrics' prowess in web marketing analytics may allow IBM to gain a foothold in the market where Google and Adobe remain market forces. While the company was considering an IPO, an enticing offer from IBM and last minute deal making solidified the acquisition.

Coremetrics was a dot-com company in the days where venture capital flowed to internet startups in obscene amounts. The startup was able to secure an initial $113 million in support of it's core business model.

After the dot-bomb years the company was again able to secure a capital infusion of approximately $111 million from new partners.

Much of the appeal of Coremetrics for IBM was not only it's staying power, but the quality of the company's existing clients, which include such heavyweights as Office Depot, Bank of America, Holiday Inn and Virgin Atlantic Airways. In addition to larger clients, scores of smaller online sites and retail outlets rely on Coremetrics analytics and metrics to improve their bottom line.

What's really interesting about this deal is that specific monetary details have not as yet been disclosed. IBM does not see this as the buyout and elimination of a competitor, but an add-on to their own line of product offerings. The core product line of Coremetrics is expected to continue to be developed and enhanced over time.

One of the attractive services that IBM hopes to integrate and offer to it's existing customers is the ability of Coremetrics to enable companies to collaborate across business silos. Often, within an existing organization, data is segmented and walled off from shared sources, and offering a way to break those barriers is an attractive option for Big Blue.

The company and it's employees will be integrated with IBM's existing corporate structure, bringing Coremetrics 2,100 existing customers along for the ride. It's hoped that by creating a lasting partnership with existing customers, IBM will be able to offer a wider array of services to those same clients.

Overall after the Adobe-Omniture deal another interesting deal in the web analytics market.

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Coremetrics Interview

There is a great interview with Coremetrics CEO Joseph Davis over at Mycustomer.com. A few quotes I really liked and for a lot of companies this statement is so true:

"We have an inherent advantage in the way that we deploy ourapplications in that everything is the same, we don't do customisation. So while Omniture can take months to deploy because they continue to customise and customise, our implementations are all the same. So if you're a retailer, then the implementation can be up and running and there are 60 or so reports sitting there waiting for you. So the ROI comes quicker".

Here the entire interview

Coremetrics Secured $60 million

Coremetrics announced that it has secured $60 million in Series E financing. The round was led by 3i, a global investment fund, headquartered in London, with offices in Silicon Valley. Existing investors Accel Partners, FTVentures and Highland Capital Partners also participated in the round. Coremetrics will leverage the additional capital to build upon sales growth and accelerate marketing initiatives. Congrats to the Coremetrics team. It's a smart move by the investors. Websidestory got acquired by Omniture, Webtrends is according to many people not a real competitor anymore and a solution tailored for strong e-retailers but less pricy is exactly what the industry needs.

I also hope that Coremetrics develops a solution for small-medium sized publishers and rolls out their product in more languages (and currencies).

Coremetrics now offers solutions for smaller websites

BtoBonline reports that Coremetrics is now targeting smaller websites with their SMB Solution: "The vendor hopes that by offering its Coremetrics SMB Solutions as a service—priced for a typical installation at about $1,000 per month—it will be able to entice small businesses that need a thorough analysis of how their Web sites are performing. And that means not just page views but more in-depth analysis such as e-commerce or other action-driven conversions"

Not sure if $1000/month is really cheap, but  definitely an interesting move by Coremetrics. Maybe a reaction to the price war between them and other top vendors.

Coremetrics LIVEmail 2.0

Coremetrics released today the 2.0 edition of LIVEmail, the company's behavioral email marketing offering. Here it's main functionality:

Combined power of LIVE Profiles and Intelligent Offer – Coremetrics’ recommendation engine that allows organizations to automatically deliver highly relevant, targeted offers that have consistently proven to maximize returns. Based on larger, group trends, Intelligent Offer calculates the best possible product recommendation for any type of behavior, including browsing, shopping, conversion, and buying

Advanced segmentation capabilities – Through a broad set of new technologies leveraging Web services, Coremetrics allows clients to self-configure and provision LIVEmail 2.0 segments by a wide set of behaviors stored in their Coremetrics LIVE Profiles data warehouse. Clients can either customize these exports to their specific business needs or use pre-built segments that are configured ideally for specific LIVEmail 2.0 partners.

One-click integration with leading email service providers – Email marketers simply click a button and LIVEmail 2.0 exchanges the unique visitor behavioral data with their email service provider in a well-defined, fully integrated format.

I really like Coremetrics new developments compared to other companies. Coremetrics develops and improves core functionalities without loosing the focus on what webanalysts need. Other competitors came up with fancy new functionalities, that nobody really needs or that most web analysts

Every owner of an Onlineshop should definitely consider Coremetrics as a great product and not only focus on Omniture and Visual Sciences.

Coremetrics Introduces 3D Marketing Analytics

Coremetrics finally released Coremetrics 2007. Here are the enhanced features: 1. Marketers are now able to identify, for the first time, the influence of multiple touchpoints such as email, blogs, online ads, natural search and paid search over time, enabling them to allocate investment accordingly.

2 .The new offering enables marketers to simultaneously track the multiple influences that impact each consumer at any point in the sales cycle, drawing on Coremetrics LIVE Profiles, the industry's only complete record of all visitor behavior and cross-session activity. It provides unlimited insight into marketing campaigns along three dimensions: ability to draw new visitors to the site, nurture them along the conversion cycle, and trigger action.

3. The Spring release of Coremetrics 2007 also enables marketers to understand the impact of Web 2.0 technologies that require the ability to evaluate 'intra-page' activity associated with technologies such as Flash, Flex, and other AJAX-based pop-ups and slider bars.

Coremetrics records record revenue in 2006

Coremetrics recorded 85% growth in annual revenues for 2006 and a 220% increase in revenues for the fourth quarter of 2006 over the same period in 2005.

Coremetrics has also reached the 1,000 customer milestone, signing clients including Amerimark, Bealls Department Stores, Blair Corporation, Lenox, Orkin, Inc. and SmartBargains.com.

Overall a big success for Coremetrics in 2006. Besides Fireclick, Coremetrics is definitely undervalued by the industry and customers. Most companies that I know compare Websidestory vs. Omniture and forget the other big players. As written before, I believe that Coremetrics biggest advantage is its accuracy when it comes to sale referrals.

Data Feed analytics

Mercent has partnered with Web analytics firm Coremetrics to launch a new platform called Coremetrics Marketplace.

Here the key features:

  • Automatically track and report referrals, conversions, and orders across shopping portals and comparison shopping engines such as Yahoo! Shopping and Shopzilla
  • Track and report ad spend and the cost to acquire transactions and customers across channels, regardless of channel pricing model
  • Process orders automatically from transactional channels such as Amazon.com and SHOP.COM
  • Define dynamic per-channel product assortments based on operational and performance criteria
  • Append and optimize product content and merchandising offers to improve marketing performance
  • Automate product categorization uniquely for each online marketplace and shopping portal
  • Manage CPC bids based on channel, category, and product-level performance criteria
  • Great feature for all Coremetrics retailers, b/c they don't even have to add any additional tracking code. Coremetrics is clearly trying to be the webanalytics leader for online retailers.

    I haven't seen their latest version, but I always was impressed by the reporting ability. Especially when it comes to track detailed sales referrals Coremetrics is able to track down several steps before a sale is done. Most tools cannot accurately record when a customer comes to a shop via Google Adwords, but then decides to buy because of an promotional email. The sale referral of most tools won't be recorded as coming from Google Adwords, but from the promotional email.

    Gap content building

    YourAmigo, a SEO company, today announced a partnership with Coremetrics, about 2 months after they signed a deal with Omniture. Under the partnership, Coremetrics will resell YourAmigo's unique Spider Linker(TM) SEO service.

    The upgraded Coremetrics package provides unique page creation capability. It provides deep analysis of the web site content and millions of search terms to identify "content gaps." It then fills these gaps by creating new pages which are highly optimized to drive more relevant search engine traffic.

    To be honest: Before the deal w. Omniture (in Dec.)I've never heard of Youramigo and I've been deeply involved in the SEO scene for quite some time.

    Despite that Spider Linker looks like a great tool that provides content to websites/keyword queries that are supposed to be there. I ususally handle this issue with a customized 404 page, which is obviously not as good.

    I haven't tested Spider Linker, so I am not sure how it works, but I am a little curious if this "gap content building" works in real-time and within the SE guidelines.

    Coremetrics adds automated bidding

    Coremetrics Search 2007 integrates comprehensive LIVE Profiles data and granular keyword analysis with automated bidding and support for Yahoo! V2 online advertising platform

    The new version of Coremetrics Search is the first paid search management application to fully integrate automated bidding with in-depth analysis, powered by Coremetrics LIVE Profiles, so that the entire search marketing program can be managed from within a single interface. The company has added a comprehensive Campaign Landing Page Report and detailed Keyword Zoom features to help marketers increase the relevance of their programs. It has also introduced an automated bid management system, which reduces the administrative burden of search management, allowing marketers to focus on more valuable, revenue-generating activities.
    Big Big steps for Coremetrics. An integrated bid mangement is what everybody is looking for. SEM, SEO and Webanalytics are one big field! No matter what David Pasternack or others say. Depending on the quality of Comscore's new tool, Atlas bid management just added one more serious competitor.