Independent Research Firm Details the Total Economic Impact of the Monetate Personalization Platform
Ease-of-use and business impact make Monetate’s Testing and Personalization Platform #1 in Customer Satisfaction according to Customer Reviews and Independent Research
Monetate, the leading provider of multi-channel testing and personalization solutions for brands worldwide, today announced the results of a commissioned Forrester Consulting Total Economic Impact™ Study which quantified the economic impact of the Monetate personalization platform.
We believe that this study, as well as Monetate’s evaluation in Forrester’s recent Online Testing Platforms Wave™ and top rating on user review websites Trust Radius and G2 Crowd, make it clear that ease-of-use and business impact make Monetate #1 in customer satisfaction.
Monetate commissioned Forrester Consulting to conduct a Total Economic Impact study to examine the potential return on investment enterprises may realize by deploying the Monetate platform to optimize the experience for each individual website visitor. The purpose of the Total Economic Impact study is to provide readers with a framework to evaluate the potential financial impact of the Monetate personalization platform.
Forrester Consulting’s interviews with a Monetate customer and subsequent financial analysis found that the customer experienced a risk-adjusted ROI of 595 percent. The analysis points to benefits of $11,102,719 versus costs of $1,598,619, adding up to a net present value (NPV) of $9,504,099. The payback period or break-even point was a very quick one month.
With the Monetate platform, the organization’s digital marketing group (which chose to remain anonymous) demonstrated that it could drive revenue and profit from the hundreds of personalization campaigns it was conducting. The organization’s vice president of ecommerce and marketing operations stated, “With Monetate, average order value is up, conversion rates are up, revenue per session is up, and overall revenue and profit impact is up.”
“The Total Economic Impact study tells a great story about the quantifiable impact that a strong personalization campaign can have on a brand’s bottom line,” said Lucinda Duncalfe, president & CEO, Monetate. “Monetate enables teams to build strong personalization programs by enabling an entire organization to shift to a true customer focus. Optimizing the experience for each individual is a much better way to market than optimizing for one-size-fits-all, and it shows in the numbers.”
Forrester Research also published its report, The Forrester Wave™: Online Testing Platforms, Q3 2015, which included Monetate as a Strong Performer. Monetate received the highest score possible in the customer satisfaction category, and achieved among the second highest scores in application usability, administration and security; test deployment and data handling; and executive vision criteria.
“We are so proud to have received the highest possible score for customer satisfaction in the Forrester Online Testing Wave. Our goal is to help our clients move down the path to personalization; testing is the first step on that path and an important component of our larger personalization platform. Our customers tell us that Monetate works for them because it enables maximum business impact with minimal complexity. The best personalization programs are the ones that are implemented, so we focus on ease-of-use and customer success,” said David Brussin, co-founder and chief product officer, Monetate. “Surprisingly, customer satisfaction accounts for only 5 percent of the Forrester weighting for vendors’ Strategy score. Monetate is relentlessly customer focused – and we believe that’s evidenced by our customer satisfaction ratings in this Wave report, and in our leading position with G2 Crowd and Trust Radius.”
To request a copy of the “Total Economic Impact of the Monetate Platform” study, or to learn more about “The Forrester Wave: Online Testing Platforms, Q3 2015” and the advantages the world’s leading brands are realizing from Monetate’s personalization solutions, please visit: www.monetate.com.
Monetate is the global leader in multichannel personalization and testing for brands worldwide. The Monetate platform is built for speed. It features an easy-to-use interface that allows marketers to create, test, and deploy customized real-time experiences across web, email, and mobile.
With Monetate, marketing is transformed from a world of discrete one-size-fits-all campaigns to one of always-on, personalized experiences that optimize the lifetime value of each customer.
Founded in 2008, Monetate influences billions of dollars in annual revenue for world-class brands like Macy’s, QVC, Office Depot, Patagonia, Sur la Table, and The North Face. During Cyber Week 2014, Monetate influenced a third of all US e-commerce sales. Monetate is the industry leader, with more clients in the IR 500 than any other personalization software provider.