Press Release Summary:
Compatible with any e-commerce store front, search engine, or merchandising rules, Community-Guided eCommerce delivers dynamic product and content recommendations for e-commerce sites to connect visitors with right set of products and services. Web 2.0 solution recognizes shifts in visitor interests and automatically adjusts which products are recommended. A/B Measurement performs visitor split testing, allowing managers to see how much revenue lift is generated.
Original Press Release:
Baynote Delivers Profits from 'The Long Tail' with New Community-Guided eCommerce Solution
CUPERTINO, Calif., April 30 -- Baynote, Inc., the leader in content guidance software for the business web, today unveiled Community-Guided eCommerce. This new on-demand Web 2.0 solution delivers dynamic product and content recommendations for e-commerce sites to connect visitors with the right set of products and services and thereby increase conversion rates. Driven by the collective wisdom of other like minded shoppers, Baynote product and content recommendations are fully automatic and proven to instantly lift e-commerce revenues by over 20 percent across all online retail channels.
Online retailers can benefit from "The Long Tail" of e-commerce by selling a more diverse, high-margin set of products than what is possible for traditional brick-and-mortar stores who have finite shelf space and physical inventory constraints. To make this a reality, however, e-tailers are facing the daunting task of identifying thousands of micro-segments of shoppers who visit the website, and match them with the best products available. Baynote automates this process by using the wisdom of like-minded shoppers to dynamically display the best products to the visitor, uniquely enabling online retailers to capture these niche shoppers along the Long Tail to build a more profitable and scalable business.
"Implementing Baynote allowed our site to provide every consumer the specific information that was most relevant to them, instead of taking all consumers down the same path," said Chris Walshe, chief marketing officer, Midwest Center for Stress and Anxiety. "As a result, visitors stay on our site much longer, view a lot more pages, and consequently our conversion rate has increased by over 20 percent. And generating this revenue lift, without increasing advertising costs, has doubled the profit from our online sales channel. Nothing else we've implemented has even come close to that improvement."
The new Community-Guided eCommerce solution offers a complete set of benefits exclusive to Baynote customers, including:
o Peer-Driven Recommendations - automatically identifies segments of
shoppers based on consumers' website behavior, and recommends specific
products based on what peer-shoppers have considered and purchased
o Seasonality & Fad Detection - recognizes shifts in visitor interests
that happen immediately or over time, and automatically adjusts which
products are recommended to continually optimize conversion rates
o Product Gaps - identifies products that shoppers are looking for but are
not currently offered on the website
o Dynamic Landing Page Optimization - recognizes site visitors who come
from paid or natural Web search, email campaigns, and affiliate sites
and automatically displays visitor-specific recommendations that
maximize the conversion potential for all incoming site traffic
o Implicit Folksonomy - uses shoppers' normal searching, browsing, and
purchase behavior to automatically tag all products on the site with the
same words shoppers use to find them, providing SEM managers with deep
insight into which keywords should be purchased
o Built-in A/B Measurement - automatically performs visitor split testing,
giving e-commerce managers the tools and reports to see precisely how
much revenue lift is generated by Baynote
"The beauty of the Long Tail is that e-tailers can offer an unlimited array of high-margin products, but only if they can identify and target those micro-interests of consumers, and deliver precisely the products they desire," said Jack Jia, founder and CEO, Baynote. "With Community-Guided eCommerce, online retailers can start profiting from the Long Tail instantly by using shoppers' own experiences to deliver highly precise and intuitive recommendations that result in more orders, fuller baskets and shorter purchase times."
Availability and Pricing
Community-Guided eCommerce is available now and offered under both subscription and pay-for-performance models. To get started with Community- Guided eCommerce please visit www.baynote.com/.
Launched in 2006, Baynote is the technology leader in on-demand content guidance software for business websites and web applications. Today, more than 40 major businesses including Motorola, Network Appliance, and US Appliance use Baynote to increase e-commerce, online marketing and support conversions. Baynote's patent-pending UseRank(TM) technology discovers the implicit visitor affinities that form among products and website content and delivers visitor- specific product recommendations, targeted content suggestions and socially- driven search results. For more information, please visit www.baynote.com.
Source: Baynote, Inc.
Web site: www.baynote.com/