E-Commerce Analytics Provider MarketLive Reports 95 Percent Renewal Rates Among Customers
While many companies are finding success in their e-commerce transactions – in many cases, more success than they are finding via other channels, such as brick-and-mortar retail, for many, the e-commerce channel is still a matter of chance.
Companies may still not understand (precisely) who is visiting their websites, how long they are spending on pages, what is best attracting these customers and how they behave through the course of their visit. They may not understand what is converting browsers into shoppers, and what’s converting one-stop shoppers into repeat customers. Analytics solutions can help provide some insight, but many companies lack the technology and the expertise to interpret the results.
E-commerce solutions provider MarketLive (News - Alert) this week announced customer performance results the company says demonstrate that its Insightful Commerce model -- a mix of e-commerce technology, data analytics and merchandizing best practices -- is driving breakout success among its customers. The platform, combined with analytics technology and merchandising advice, was created to help customers understand their e-commerce operations better and make decisions that can affect it positively.
"We've cracked the code in combining eCommerce technology, data driven analytics and expert strategies to help our merchants drive growth and compete," said Mark Pierce (News - Alert), CEO of MarketLive.
"Our customers' 2012 results are even more impressive given the trend of Amazon pulling market share. What's more, our customers' strategy is not using only low prices and free shipping; instead our customers are strategically implementing the total solution we provide to optimize their commerce experience, including mobile, social and outbound marketing. Their results show growth in revenue and improved experiences for their customers at every touch point."
MarketLive reports that its new subscription bookings are growing at a compound annual growth rate (CAGR) of almost 40 percent, and customer renewal rates are at about 95 percent.
Edited by Brooke Neuman