Two New Qubit Features That Empower Marketers and bring Integrity and Transparency to Website Optimization

NEW YORK, September 29, 2014 /PRNewswire/ --

• Revenue Impact and Vendor Testing to launch at Shop.org, Seattle
• New tools give marketers more control and help them avoid 'marketing blind-spots'
• Features are latest off Qubit production line fuelled by new $26m investment

Online customer experience and personalization platform Qubit today released two features designed to open the black box that sits behind digital marketing and optimization technologies running on eCommerce websites.

A recent Forrester survey identified that, when asked about the state of their existing digital technology, indicated, 77% of marketers felt that at least some of the features and functionality are not being used. More than a quarter of those said that at least some of this technology was "shelfware."

Qubit is committed to empowering marketers with web optimization and personalization tools that reduce this waste and put them at the heart of business planning in the boardroom.

Revenue Impact and Vendor Testing are the latest new features to emerge from Qubit's fast and ongoing product innovation cycle and will premiere at Shop.org in Seattle. Both are designed to arm marketers with real insights that lead to robust, rapid and sustained ROI.

Revenue Impact: The most robust statistical measurement for revenue testing in ecommerce 

Topshop Case Study 

Revenue Impact enables Qubit's clients to take a revolutionary approach to measuring impacts in average order value as a result of personalization and A/B testing.

Revenue Impact is a predictive A/B testing model that understands when a client's sales will increase specifically because customers are buying more items per visit; crucial information that would not be picked up by a simple conversion optimization test that measures purchases per new visitor.

A TopShop US case study demonstrates an example of where the same test showed no statistical significance in conversion rate but was found to increase revenue by 4.5% with 99% statistical significance. The test localized the online experience for its loyal US shoppers by showing them garments in US sizes on product pages as opposed to UK numerical sizes. Without Revenue Impact built in the test might have been overlooked as relatively inconsequential and subsequent incremental revenue would never have been realized.

Simon Pritchard, eCommerce Director at Arcadia said: "Testing by revenue is critical to our business; conversion tells only part of the story.  Qubit's rigorous statistical methods ensure that we can trust that the results of our online personalisation strategy flow through to the bottom line, ensuring that we can continue to invest in our product and customers," he said.

Vendor Testing : Validating third party technology with A/B testing 

Monsoon Accessorize case study 

Qubit is also launching a new integration between Opentag and its Deliver A/B testing platform enabling ecommerce businesses to measure the true uplift of third party technologies that they deploy on their websites. This enables marketers to measure the actual impact of retargeting, live chat or ratings & reviews technologies versus a control group in order to justify a genuine ROI from these technologies.

Qualitative data from Qubit's Visitor Opinion and quantitative data from its Discover platform had revealed to Monsoon Accessorize that its search functionality was repeatedly highlighted by users as a 'weak point' of its site. It wanted to test the hypothesis that new search functionality would increase conversions. A 50/50 A/B test was split between the control and the new third party search functionality.

Once the test saw an uplift in conversion, Monsoon validated the technology for financial viability by looking at the incremental revenue it was creating against the technology cost. As a result, Monsoon pushed the third party search to Always On (95% of traffic) and continues to deploy it through Deliver.

Mark Dugdale, head of online marketing and customer loyalty at Monsoon Accessorize, said: " Being able to rigorously validate our third party technologies removes the need to rely on a 'gut feel' and replaces it with statistically reliable data - while deploying it through Qubit means that we can continue to monitor their effectiveness."

Qubit CEO Graham Cooke said: "Both these features are an important move forward for Qubit and the industry at large. They give marketers more control by helping them better understand what activities drive the bottom line. With so many different technologies and ways to engage consumers it is vital that you understand what is giving you the biggest and most sustainable ROI."

Qubit announced this week that it has closed a $26m Series B investment led by Accel Partners, with participation from original investor Balderton Capital and Salesforce Ventures, Salesforce.com's corporate investment group.

The investment will be used to fuel rapid expansion of Qubit's presence in the US and accelerate its ongoing programme of product innovation.

About Qubit 

Qubit's personalization platform helps brands meet the demands of the Apple, Google and Uber generation of consumers, where user experience trumps marketing hype. Built around the needs of omnichannel businesses, its technology collects detailed information about users' interactions with a website and analyses it to identify patterns of behaviour that drive onsite revenue and inspire business-wide optimisation decisions. Founded in 2010 by four ex-Googlers, Qubit is headquartered in London with offices in New York and Paris. Qubit works with some of the world's leading ecommerce businesses, including TOPSHOP, Uniqlo, John Lewis, Jimmy Choo and Staples. Qubit recently announced that it has closed a $26m Series B investment led by Accel Partners, with participation from original investor Balderton Capital and Salesforce Ventures, Salesforce.com's corporate investment group.

Qubit - Mark Choueke +44-7832-139827 

SOURCE Qubit