Monetate Sees Strong Growth First Half of 2013, Increasing Revenue by 127% Year Over Year and Furthering Reach into the Online Travel and Hospitality Markets
Continued demand for personalization and the launch of Monetate's anticipated automated segmentation product drives growth in retail, travel and global markets
PHILADELPHIA, Aug. 15, 2013 /PRNewswire/ -- Monetate experienced strong growth in its revenue and client base in 2013 as marketers tapped big data to address growing consumer demands for smarter and more relevant digital experiences. In the first six months of 2013, Monetate boosted revenue by 127 percent year over year and signed new brands in a variety of industries across the globe.
Monetate furthered its presence in the travel and hospitality industry – signing brands including Celebrity Cruises and Air Arabia. Travel brands use Monetate to provide a relevant experience for every online customer, based on preferences, channel, device, destination and more. Brands that personalize yield significant gains in bookings, upsells, brand loyalty and market share.
"Travelers now want personalized experiences that reflect their preferences and brand loyalty, and they want to be able to book at any time, on any device," said Gene Quinn, founder of TNooz and member of Monetate's advisory board. "Travel brands must have the merchandising tools to react dynamically to the customer in any situation in order to remain competitive."
Retail continued to be a strong market for Monetate. The platform powers retailers to deliver the Amazon-like experience consumers crave, and more and more brands understand the importance of leveraging big data tools like Monetate to enable that experience.
"The growth of Monetate, when you look at transactions and the amount of data we handle, is astounding," said John Healy, COO of Monetate. "In Q2 last year, we handled $2.3 billion in transactions on the Monetate platform. Q2 this year has that number at just over $6 billion, an increase of 155 percent. Monetate was engineered for scalability, which positions us for continued growth."
Monetate Expands Global Footprint; Enables Clients to Grow 33 Percent More than Their Competitors
Monetate also further expanded into global markets in the first half of 2013, specifically in Europe and South America, where Monetate signed brands including: BeautyBay.com (UK), JD Sports Fashion (UK), B2W, Inc. (Brazil), and Charles Tyrwhitt (UK).
"A key driver in Monetate's success is that we allow companies to bring together data, analysis and marketing; teams that in many cases have operated in disconnected silos," said David Brussin, CEO and founder of Monetate. "The Monetate suite collects data, provides instant analysis around customer preferences and responses to campaigns, and gives the marketing team the power to immediately act on those insights, all within one cloud-based interface."
The proof is in their success. Last year, Monetate customers grew revenues 33 percent more than the average ecommerce brand.
Automated Segmentation with LivePredict
Positioning the company for continued momentum, Monetate this month launched LivePredict, an automated segment discovery product that automatically identifies valuable customer segments and the attributes that define them, and gives marketers the ability to instantly take action by targeting offers and content specifically to those segments.
"LivePredict offers a new way for marketers to understand and influence digital visitor behavior," said Brian Hawkins, partner and optimization specialist at Web Analytics Demystified. "Enabled by Monetate's proactive targeting technology, LivePredict automatically surfaces customer segments that might otherwise go unnoticed or undiscovered, potentially driving significant changes in customer acquisition strategies and internal resource investments."
Monetate empowers marketers to leverage big data to create more personalized and engaging online customer experiences. By providing more relevant web interactions, leading brands are able to anticipate and react to consumer preferences to generate stronger customer relationships and significantly increase profits.
Monetate drives billions of dollars of revenue every year for some of the best-known brands in the world, including Best Buy, Frontier Airlines, Aeropostale, The Sports Authority and PETCO. The company's solutions and conversion expertise enable marketers to deliver a more relevant customer experience with unprecedented agility.
Leading marketers rely on Monetate's cloud-based browser solutions to achieve a new level of speed and control, allowing them to run 16 times more optimization campaigns compared to industry averages. Monetate solutions include advanced products for testing, merchandising, targeting and cross-channel consistency, providing an opportunity to bypass IT restraints and react in real time to customer demands. Monetate also helps marketers implement best practices and drive online revenue through its expert strategic services and content publishing teams. For more information visit http://monetate.com/ or follow us on Twitter@Monetate.
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