PeC: Why is conversion important to ecommerce businesses?
Paolucci: Ecommerce businesses are constantly seeking new ways to enhance their websites to drive incremental revenue, reduce costs associated with customer acquisition and sales and increase customer loyalty. While driving traffic is important, optimizing site conversion is required to meet the above objectives. Why? It is simple math, if you want to double sales, you need to double conversion, not traffic. If one out of 100 visitors purchase a product, you have a conversion rate of one percent. If two out of 100 visitors purchase a product, you have a conversion rate of two percent, and your revenues increase. Getting visitors to the site is one thing, but if you want to increase sales, you need to focus on increasing the conversion rate rather than just increasing traffic.
PeC: How can an ecommerce site improve its conversion?
Paolucci: A key to improving conversion is setting a measurement strategy that aligns with the company’s key business goals. But to drive a winning business and respond to competitive threats, ecommerce business owners also need real-time insight into how their company is performing relative to industry-best practices. Being able to benchmark the keyperformance indicators for the business against industry peers is critical to business success and should not be overlooked.
PeC: What services does Coremetrics offer to ecommerce businesses?
Paolucci: We deliver a suite of products and services designed to address the data and marketing needs of our clients. This begins with a visitor-behavior database. By capturing and storing every click made by every visitor to a site in a LIVE (Lifetime Individual Visitor Experience) Profile, we allow clients to perform unbounded analysis of customer behaviors.
On top of this data we provide a set of analytical tools called Online Analytics. These tools leverage embedded, industry-specific, best-practice templates and metrics to provide actionable insight.
To reduce cost and improve marketing ROI, Coremetrics provides the Precision Marketing Application suite to automate and optimize digital marketing activities via direct integrations to leading search engines, email marketing vendors and ecommerce platforms.
Finally, Coremetrics seeks to be more than just a technology provider; we look to be a trusted business partner to our clients. As such we have vertically aligned services teams that partner with our clients to help them achieve their analytical and business goals.
This complete offering of data, analytics, applications and services is critical to client success.