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Interview: John Squire, Chief Strategy Officer at Coremetrics
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John Squire is responsible for the development and management of Coremetrics Marketing Services and setting the company s vision of the market and technical strategy for Coremetrics Behavioral Analytics and Precision Marketing solutions. John holds an MBA with High Distinction from the University of Michigan and a B.S. with Highest Distinction in chemical engineering from the University of California, Davis. Q: John, how would you describe Coremetrics platform solution and what it offers businesses A: Coremetrics uses web analytics and digital marketing applications to build a complete set of customer behavior and marketing profiles. That comes from every single click that a person makes at a website. This is designed on top of a single data warehouse for a site. The business uses that information to help drive their digital marketing operations. Coremetrics creates this rich set of analytics to show how people perform at a website. Q: What are the strong points of your analytics solution A: The base of Coremetrics has been building on top of LIVE profiles. LIVE stands for lifetime individual visitor experience. This builds on top of an eCRM system. We build a single customer profile that contains all of their activity. Coremetrics has been built natively on top of a massive data warehouse. This lets us look at these profiles to understand how people respond to marketing programs or how products or specific content affects visitor behavior. As many businesses move from running a website to understanding the behavior of a customer both online and offline, we believe that this underlying infrastructure of a data warehouse build on top of customer profiles is going to be extremely valuable as we move into this melding together of offline and online programs. The big differentiator between us and some of the other big analytics players is our solution comes with the data warehouse. It is included in our package. For instance, with Omniture, you re required to buy additional services and modules, including the data warehouse, in order to step up to the next level of service. In doing research with Forrester, we found 45% of our clients have five people or more using web analytics in their companies on a daily basis. This tells us we re not building analytics for a single power user. Instead, we re building an analytics solution which lets everyone in the company access the data and do deep mining. There are no additional charges or package upgrades for segmentation, access to the data warehouse, correlating data, designing reports, etc. We also have Intelligent Offer, our cross-sell/up-sell recommendation engine. Intelligent Offer allows you to automatically generate relevant offers for your visitors on the fly, purely based on their behavior.
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CHAPTER 3: Analytics
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Q: Who is your target market or ideal customer in terms of revenue and monthly traffic volume A: Our ideal customer is someone who is curious about using and analyzing their website data. Many of our customers have used Google Analytics and need to graduate up from merely site analytics to customer analytics. Our ideal customer has some type of value event at their site, such as a conversion process, and they need to drive marketing, site optimization, or promotions. In retail, it s a sale. In travel, it s a booking. On a content site, it s page views per visit. For a B2B site, it s the number of leads and downloads. Our clients optimize their site to specific business goals. Our smaller customers have about 50,000 unique visitors per month. Fees start around $750 per month, which includes the data warehouse. Our clients go up to multiple billions of visitors per month. Our clients are spread out across retail, financial services, travel, and content. Q: Let me ask you the same question: Many people say, I have Google Analytics and it s free. Why should I upgrade A: There are a couple reasons. Many have to do with the depth of data they are trying to get to. Most of the time, they are trying to get to customer analytics to get a strong understanding of the business direction they need to go in. Google Analytics doesn t provide this depth of data analysis. This is why a lot of our customers upgrade. Q: Coremetrics is well-known as a digital marketing solutions company. Can a customer get your analytics platform without employing your digital marketing services A: Absolutely. They can get on the analytics platform for their business intelligence needs. If they need our digital marketing services, this would be an additional option. Furthermore, they do not need to buy the analytics solution. We have other applications that manage e-mail campaigns, paid search, etc. These applications are modular and don t rely on our analytics platform. Q: What is your first-click technology You talk about this in your case studies. A: First-click describes the ability to track through from the first marketing program to the last marketing program on a unique visitor basis. This enables marketing attribution. It provides visibility on all of the marketing programs that lead to a conversion. You can apply a time window, such as seven days, 14 days, 30 days, 60 days, or any other time frame you want. You can look at a specific program such as e-mail and then tie it back to any of those different click attributions. This helps a company understand their most effective campaigns. As a result, companies can systematically reallocate their budgets.
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