Coremetrics is expected to announce today a new version of its Online Analytics 2004, boasting features that make it easier to use and measure which marketing is directly generating sales.
The Burlingame, CA, Web analytics company said the hosted product now features LIVEview, which is designed to give users a quick and easy way to visualize Web analytics information. Instead of a spreadsheet full of numbers, LIVEview tags let users look at the actual Web page and see how each link performs in terms of metrics like click-through rates, conversions and sales.
Brett Hurt, chief architect at Coremetrics, said LIVEview's graphical layout was part of the company's drive to make Web analytics easier to use.
“We expect it to put power in the hands of people that have no experience with Coremetrics,” he said.
Hurt said Coremetrics has 4,000 users across 200 brands. With LIVEview, he expects the number of users to double.
Another addition to Online Analytics 2004 is improvements to Marketing Management Center, the reporting hub of the analytics product. With True Measure, users can see more clearly which of their many marketing programs are directly paying off in sales. Instead of crediting marketing partners along the sales cycle, True Measure assigns sales and conversions only to the marketing vehicle that directly led to the sale.
True Measure would let customers avoid “double-paying” for marketing campaigns, Hurt said. The function lets them assign the total sales value to the marketing vehicle that directly led to a conversion. In this way, at the end of the month, marketers can get a holistic view of which marketing platforms performed best in terms of direct response, without the concern that some sales are credited to more than one source.
“You can really find out what's truly driving the conversions,” Hurt said.
The Online Analytics 2004 update includes new capabilities for its more experienced users. With Real Estate reports, users can gain a more detailed view of the information available with LIVEview, including the ability to test different page formats quickly. An On-Site Promotions function lets users track the success of in-site marketing campaigns in much the same way as MMC handles external marketing.
The updated version goes into beta testing next month with a general rollout slated for April.