Turning Big Data Into Action Key to Monetate's Growth in Q2 2012
Monetate, a leading provider of cloud-based technology for online marketers, reported its largest quarter of new customer sales in the second quarter of 2012.
The company sees an increasing demand from brands to act on data to deliver more relevant customer experiences in real time.
Monetate’s solutions, which combine A/B and multivariate testing with behavioral targeting, merchandising and product recommendations, are used by global brands across a spectrum of industries. Monetate enables brands to use Big Data to increase conversions by creating a more relevant online experience.
According to data from research firm eMarketer, 45 percent of companies reported that they are not effectively using data to personalize online marketing, citing the inability to apply data insights on the individual customer level. Monetate’s solutions turn big data into action, which has spurred its growth in the second quarter. Of the 28 new clients who signed with Monetate in Q2 — including drugstore.com, National Geographic, Boscovs, Mattel and Gamestop — many are working with Monetate to personalize the online customer experience through the application Big Data.
“Companies are excited about the opportunity big data presents, but many are still unable to act on the data to deliver the online experience customers now demand,” said Monetate founder and CEO David Brussin. “Monetate helps marketers tap into the power of big data and develop features that matter to their customers and ultimately drive conversions. Monetate’s expertise in delivering actionable data is at the core of our success.”
Also during Q2 2012, Monetate opened its EMEA headquarters in London driven by strong demand for the company’s services in those areas. The company was also recognized among the top 250 private technology companies by AlwaysOn and its CEO David Brussin was named Ernst & Young Entrepreneur of the Year for Greater Philadelphia.
“One of the biggest trends we’ve seen in the latest wave of web innovation is the use of data to drive intelligent decisions across all aspects of the business,” said Josh Kopelman, Managing Director of First Round Capital. “Monetate understands how to put this collected data into action, and it’s exciting to see the company bring this analytical approach to its customer base of large global brands.”
Monetate drives billions of dollars of revenue every year for some of the best-known brands in the world, including Best Buy, Comcast, Urban Outfitters, Aeropostale, The Sports Authority, and PETCO. The company’s comprehensive product suite and conversion expertise enable marketers to deliver a more relevant customer experience with unprecedented agility.
Leading marketers rely on Monetate’s cloud-based browser technology to achieve a new level of speed and control, allowing them to run 16 times more optimization campaigns compared to industry averages. The Monetate Agility Suite includes 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.