You probably caught today’s news that SAP has announced the intention to acquire SeeWhy, subject to closing and regulatory conditions. In this blog I’ll net out why we decided to align with SAP, and what it means for our customers and partners.
SeeWhy was founded on pioneering principles of continuous calculations that enable real time 1-to-1 marketing. Last year, the Company was awarded a patent covering our CORE™ in memory calculation engine, which we use to continually process in the region of 20 billion events per day as visitors interact on more than 4,000 ecommerce sites around the world.
Click-by-click, as data streams in, the SeeWhy CORE technology analyzes everything from a first visit to a purchase in real time to trigger the next best action for that unique customer at that moment in time. CORE enables SeeWhy to analyze data very differently from traditional architectures: There’s no data warehouse. There are no batches of data. There are no segments. 1-to-1 marketing campaigns are driven by the behavior of individual visitors, and the real time context of what the shopper is doing, right now. True 1-to-1 marketing at scale. In practice, this means that SeeWhy is always in step with a customer’s path to purchase and driving the highest ROI in ecommerce (on average lifting ecommerce revenues by more than 5% representing $10’s of millions of incremental revenue for larger brands).
In recent months, our technology has become strategically important to marketers as the explosion of data sources meets a desire to move away from bulk campaigns that risk annoying customers with irrelevant noise. They are seeking out easily integrated and automated technologies that leverage ‘signals of intent’ and personalize at a 1-to-1 level at scale, capturing the moment when the customer is ready to buy and serving up engaging and contextually relevant content. (…)
The average shopping cart abandonment rate is 72% across all devices*. But mobile devices (excluding digital downloads), have an astounding 97% abandonment rate*. Recently, several people have asked me about the difference and whether or not they should be considering separate mobile device strategies.
My short answer is ‘Yes’ and ‘No,’ because there are really two answers.
Before I explain, let’s take a quick look at why customers abandon shopping carts in the first place and what makes the mobile experience so different. Then we can explore specific techniques for improving the mobile shopping experience. (…)
Recovering abandoned shopping carts and web forms is a lucrative business. On average 70 percent of shopping carts and 56 percent of web forms are abandoned before completion. In an effort to win these customers back, retailers employ email remarketing campaigns that should recover on average between 10 and 30 percent of abandoners. That translates directly into significant incremental revenues.
Lessons learned from Cyber Monday shopping trends 2009Black Friday and the holiday shopping season are fast approaching, and customers know this just as well as retailers. Based on last year, between Labor Day and mid-November we can expect online customers to change their behavior by deferring purchases. As an industry, we have conditioned our customers to expect exceptional offers in the run up to Black Friday.
‘Have we conditioned most customers to the point that they expect discounts and won’t buy without one?’
This is a great question, and it’s worth considering in more depth. Recent research shows that coupon redemption is at an all time high, and at the same time, Ben Bernanke warns that the economic recovery is fragile and taxes will inevitably have to rise. It’s no wonder that customers are nervous and cautious. (…)