Launch of Segment Builder, a new interactive reporting system and performance enhancements helped clients generate over $425 million in additional revenue in the first quarter of 2012
(Indianapolis, Ind. – April 20, 2012) – iGoDigital, the market and technology leader in personalized product recommendations, and guided selling tools, today announced major updates to its personalized recommendations platform including the launch of Segment Builder, and a new interactive reporting system and performance enhancements. The platform enhancements were rolled out during the first quarter of 2012 and helped clients further personalize through various channels and generated over $425 million in additional revenue during that time.
“The first quarter was headlined by the launch of Segment Builder, which enables retailers to quickly sift through vast amounts of customer data to create and execute highly-targeted, real-time marketing campaigns – all without the involvement of IT resources,” said Matt Coffman, chief technology officer, iGoDigital. “The new tools and enhanced reporting further enable brands to create real and actionable results while laying the groundwork for significant product rollouts in Q2 – all of which continue to provide iGoDigital customers with the most complete recommendations platform.”
Segment Builder is powered by iGoDigital’s Customer Intelligence Engine, which collects information about a customer's activities, in real-time, creating an immediate profile of habits and preferences. Segment Builder enables retailers to create customer segments based on a particular product, a customer’s buying habits and/or timely events. From there, marketers can send relevant, personalized marketing messages, which can also include product recommendations from iGoDigital. iGoDigital client Dungarees.net increased its email open rates by 2.5 times its average open rate and doubled the average click-through rate with its use of iGoDigital Segment Builder.
iGoDigital also continued to enhance platform scalability and its ability to handle large catalogs, which was demonstrated by iGoDigital client Better World Books and its 30 million stock-keeping units (SKUs) catalogue. After a prior recommendation vendor was unable to complete the implementation due to the size of the catalog, iGoDigital stepped in to process the data and provide recommendations for one of the biggest catalogs in the industry.
Other significant new features or enhancements include:
· Enhanced interactive reporting system for Guided Selling Tool. The reporting system features a user selection analysis tool, enabling customers to drill into their data and see how users are answering questions, the spectrum of answers received and how many questions are being answered. A flexible key performance indicator setting was also added. This allows customers to set their unique benchmark goal when building a guided selling tool.
· Addition of Sticky Attribute. This feature takes explicit data from the end customer this is unlikely to change (gender or college/university attended) and stores it as a “fixed” attribute in the customer’s profile. Instead of traditional view-based behavior data that can change while the customer shops, the Sticky Attribute allows the retailer to ask the customer a question, store the answer inthe individual’s profile and use the attribute to make more insightful recommendations This data can also be leveraged by the retailer in the Segment Builder tool.
· Upgraded recommendations reporting platform with new enhancements including: extended visibility into historical data and ability to re-run analytics multiple times a day.
· Opened additional data centers in Europe and Asia to more directly support international customers.
· Improved overall platform scalability and performance including implementing a new server capacity management system enabling customers to proactively make scalability decisions.
Used by many of the largest online retailers, iGoDigital's personalized product recommendation solutions expose customers to relevant and desirable products at multiple interaction points during the shopping process. The platform analyzes individual shopper behavior, the wisdom of the crowds, and individual product attributes to show the most relevant products, in real-time, to each shopper. Because each tool is powered by iGoDigital's Customer Intelligence Engine, retailers can leverage their investment across multiple personalization solutions.