Competing with Amazon is not about price, it's about experience
Online retailers finding footing by improving digital customer experience
Key Points
- Billions lost in online shopping due to poor performing websites
- Machine Intelligence recovers over $300M in online shopping carts
- Algorithms processing over $30 Billion of eCommerce
COLORADO SPRINGS, Colo., May 15, 2017 /PRNewswire/ -- As digital commerce growth continues to outpace brick and mortar retail, retailers are discovering that lowest prices and best marketing are no longer enough to compete with the likes of Amazon. eRetailers are finding that customers are choosing and repeating business with fast, frustration-free, and easy-to-checkout websites.
While physical interactions in stores provide immediate feedback to retailers on how they can improve the in-store experience, many digital shoppers are quick to leave when sites are slow to respond or not easy to navigate, without providing feedback on why they left. eRetailers are left wondering the "why" behind dismal online conversion rates.
Quantum Metric, a Colorado SaaS startup, has pioneered the use of machine learning with behavioral pattern recognition to understand when customers are frustrated while shopping online. Analyzing over $30 Billion of eCommerce transactions and over 1M requests per minute, Quantum Metric sifts through big data to find the "little data" which indicates poor customer experiences. Tracking behaviors like rage clicking a broken "Add to Cart" button, Quantum Metric groups frustrated shoppers together to provide a prioritized list of revenue-impacting issues affecting a website.
"With digital sales driving greater revenues for retailers, executives have realized perfect digital experiences are a must for their digital success. CMOs are finding there are easy wins to improve their digital customer experience, often netting millions in increased revenue with simple website improvements."
- Mario Ciabarra, Quantum Metric Founder & CEO
Previously requiring expensive data scientists to mine data, Quantum Metric has shifted shopping cart optimization to machine learning, helping recover over $300M in lost online sales within its first year of launching. The end result is allowing eRetailers to understand where, when, and how many customers are walking away because of a failure, without waiting for users to call/email/tweet their issues. Quantum Metric customers are increasing digital revenues by delivering rapid improvements, design iterations, and optimizations for their digital presence.
"The Quantum Metric analytics platform has provided clarity in how our users navigate our digital presence, helping prioritize our customer experience optimizations. The web session replay gave us the pixel perfect view of exactly what we needed to improve."
- Annouchka Yameogo-Stanzler, VP Creative Design & UX LegalZoom
ABOUT QUANTUM METRIC
Ever try to buy a product online and couldn't checkout? Quantum Metric fixes this.
Quantum Metric simplifies discovery of digital customer struggle. With the unique perspective of quantifying revenue impact, Quantum Metric helps enterprises identify and prioritize customer experience improvements. Applying Machine Intelligence to advanced behavioral and predictive analytics, Quantum Metric provides insights in minutes that traditionally required hours of data science.
SOURCE Quantum Metric
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