CentrPort Study Shows Marketers Can Win Back More Lost Consumers.Business Editors/High-Tech Writers WESTPORT, Conn.--(BUSINESS WIRE)--March 8, 2004 Purchasing Study Proves that Fortune 1000 Businesses Are Underestimating the Potential to Re-Acquire Consumers who Abandon Online Purchasing Processes Purchasing Purchasing is the formal process of buying goods and services. The Purchasing Process can vary from one organization to another but there are some key elements that are common throughout The process usually starts with a 'Demand' or requirements CentrPort Inc., a leading provider of enterprise dialogue marketing solutions to Fortune 1000 companies, today announced the results of a study confirming that Fortune 1000 marketers are missing critical opportunities to re-acquire consumers who abandon the online purchasing/application process. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the study, marketers can re-capture a much larger proportion of purchasing and application abandoners by better leveraging their existing ad server, email and website systems to identify and re-engage this highly valuable segment. "Conventional wisdom has led us to believe that the best and only opportunity to re-acquire purchasing and application abandoners is before they leave the site," said Art Melville, senior vice president of application strategy for CentrPort. "These numbers confirm that there are, in fact, several more opportunities on and beyond the website to re-engage and acquire the customer if the proper strategies and systems are in place to coordinate messaging across ad servers, call centers, websites and point of sales channels." The study, which evaluated online purchasing activity across several considered purchase goods markets, including the airline, automotive, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. industries, found that in the 10 days following online purchasing abandonment, businesses not only have subsequent online interactions with 33 percent of their abandoners, but the rate at which they encounter those abandoners is 300 percent greater than the average rate for non-abandoners. Of these subsequent interactions, approximately 20 percent occur on the business' website and the remaining 80 percent occur on third-party sites via banner ads A graphic image used on Web sites to advertise a product or service. Banner ads come in numerous sizes, but are often rectangles 460 pixels wide by 60 pixels high. Also 460 x 55 and 392 x 72 sizes are commonly used. . In a comparable study released late last year, CentrPort found that businesses which re-engaged their consumers in coordinated one-to-one messaging across both banner ads and corporate websites experienced, on average, a 25 percent increase in customer re-acquisition. This was compared to a control group that received conventional static mass marketing messages. Combining this study with the results of the abandonment study released today reveals that marketers who employ real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. one-to-one messaging across their banner ads, call centers and websites can achieve profitable and sustainable increases in their customer re-acquisition efforts by simply honing Honing could refer to
"Today's businesses Today's Business is a show on CNBC that aired in the early morning, 5 to 7AM ET timeslot, hosted by Liz Claman and Bob Sellers, and it was replaced by Wake Up Call on Feb 4, 2002. are capable of driving greater campaign results and marketing ROI Marketing ROI is a related term to Return on Marketing Investment (ROMI) and is a measure of the effectiveness (see also marketing effectiveness) of various marketing activities. from existing channels and customers if they can continue to close the execution gap between marketing insights and sales execution," said Liz Roche, vice president, Technology Research Services, META Group. "By investing in cross-channel integration, dialogue marketing and intelligent message arbitration arbitration Process of resolving a dispute or a grievance outside a court system by presenting it for decision to an impartial third party. Both sides in the dispute usually must agree in advance to the choice of arbitrator and certify that they will abide by the , enterprises can evolve their tactics and execution to focus on delivering the right offer to every customer, thereby boosting each interaction's relevancy, value and effectiveness." CentrPort's study of online purchasing abandonment leveraged millions of records collected across half a dozen businesses and spanned a 16 month time period from 2002-2004. For more information about this study, or to see how these findings could apply to your business, please contact Jon Diorio at jdiorio@centrport.com, or at (203) 341-8000. About CentrPort Inc. CentrPort is the leading provider of real-time enterprise marketing solutions that enable Fortune 500 organizations to better acquire, retain and grow customers by creating and maintaining sustainable one-to-one marketing dialogues. Leveraging CentrPort's E-Business Marketing Platform(TM), leading organizations can transform their disparate mass marketing systems, including ad servers, call centers and websites, into a coordinated one-to-one marketing platform that ensures the right person gets the right messages at every touch point. Several of the world's largest marketing organizations, including 5 of the Fortune 10, have used CentrPort to increase customer acquisition rates, decrease customer attrition Customer attrition, also known as customer churn, customer turnover, or customer defection, is a business term used to describe loss of clients or customers. and grow customer profitability Customer profitability (CP) is the difference between the revenues earned from and the costs associated with the customer relationship in a specified period. According to Philip Kotler,"a profitable customer is a person,household or a company that overtime,yields a revenue . More information on CentrPort can be found at www.centrport.com. CentrPort E-Business Marketing Platform(TM) is a trademark of CentrPort, Inc. in the U.S. and other countries. All other trademarks and registered trademarks are property of their respective owners. |
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