*Net Perceptions to Give Marketers a Heads Up
This new technology is designed to simplify the reporting process for marketers interested in monitoring their Web site activity. It accomplishes this through a customized browser that includes a new function called "overlay."
When this is activated, a user sees how well each offer on the site is working in terms of revenue, duration, clicks, profit and other criteria.
"Our goal is to provide superior intelligence and communication," said Steve Larsen, senior vice president of marketing and business development at Net Perceptions, Edina, MN. "HeadsUp lets me look at how I'm allocating the real estate on my Web site and puts that information in context."
This reporting technology will work with all Net Perceptions software, including its new E-commerce Analyst, which launched this week at the Direct Marketing Association's Net.Marketing show.
This analytic software allows users to "look at behavior patterns regarding people, products and promotions," Larsen said. "It will help them to make far better decisions relating to acquiring the most profitable customers. They will be able to do this through an in-depth understanding of product and customer issues as they interrelate."
An example of this software's functionality is its ability to allow a company to find an affinity between products. For example, Garden.com, which has beta tested the software, discovered that buyers of aquatic plants also are likely to purchase outdoor furniture. "By understanding product affinities, you will be able to increase your profits," Larsen said. In the case of Garden.com, "you take a $30 or $35 sale and bring it up to $400 or $450."
The E-commerce Analyst can also identify buying habits such as shoppers who regularly buy DVDs on their release date.
This technology begins at $100,000. However, customers are expected to recoup their costs within six to 18 months, Larsen said.