Press Releases

Northern Tool Projects $3 Million Boost in Revenues With Detailed Analysis of Online Behavior from Coremetrics

Marketforce for Retail Enables Major Supplier of High Quality Tools & Equipment to Double Conversion Ratios Through Data-Driven Cross Selling

Coremetrics™, the leading provider of online marketing analytics solutions, today announced that Northern Tool has projected a $3 million dollar increase in annualized revenue by leveraging detailed analysis of online customer and visitor behavior from Coremetrics Marketforce for Retail. Northern Tool, a major supplier of high quality tools and equipment at discount prices, leveraged analysis from Coremetrics Marketforce for Retail to identify specific products that sold well together based upon the historical purchase behavior of customers. Northern Tool used this data in a new cross-selling initiative and found that customers exposed to product presentations based upon Coremetrics data converted at nearly twice the average rate. Coremetrics was recently named the sole market leader in an industry report on Web analytics conducted by Forrester Research, and is the only company to offer an online marketing analytics platform that captures and stores all visitor and customer clickstream activity to build LIVE (Lifetime Individual Visitor Experience) Profiles that serve as the foundation for all successful marketing initiatives.

"By using Coremetrics to help us intelligently deploy cross-sell offerings throughout our site, we expect to generate more than $3 million of additional annualized revenues," said Nate Miller, eCommerce marketing manager at Northern Tool. "Without Coremetrics and the historical customer purchase information stored in our LIVE Profiles, this detailed, in-depth analysis would have been impossible to perform."

The Northern Tool e-commerce web site (www.northerntool.com) is a strategic distribution channel for the company, offering customers a full range of tools and equipment via the web. Northern Tool wanted to boost sales and customer satisfaction by effectively promoting items that sell well together on the company's most popular product pages. Using LIVE Profile data captured and stored by the Coremetrics Marketforce for Retail solution, Northern Tool created a custom report detailing the top 3000 previously sold products and the top 7 related products that sold best with them. Northern Tool used this data to add and populate a "Customers who bought this item also bought…" section to exclusive product pages, featuring related products most likely to be purchased by the same customer. After implementing these changes and testing the results, Northern Tool found that if cross-selling were not deployed in this manner, the company would have generated approximately $300,000 less in revenue over the 27-day testing period.

"Northern Tool's use of Marketforce for Retail is a prime example of the unique value that Coremetrics LIVE Profiles bring to the market," said Scott Kauffman, chairman of Coremetrics. "With a $3 million projected increase in annualized revenues by simply identifying and promoting products that compliment each other and have sold well together, Northern Tool leveraged actionable insight from Coremetrics to rapidly drive their business forward. Historical customer data is a great predictor of future customer behavior, and as the established leader in the Web analytics market, Coremetrics gives companies the tools to easily exploit the full potential of this data."

About Coremetrics Marketforce for Retail
Coremetrics Marketforce for Retail is the industry's only marketing analytics platform that captures and stores all visitor and customer clickstream activity to build LIVE (Lifetime Individual Visitor Experience) Profiles of online customers and visitors that serve as the foundation for all successful marketing initiatives. The foundation of Marketforce is the Core Data Platform , a hosted dynamic data warehouse containing the most complete and accurate online customer and visitor information available in the market. Through a patent-pending browser-based data collection technology, the Core Data Platform anonymously gathers and stores behavioral information directly from the visitor's browser and records interactions in real-time to build LIVE Profiles that are the source of all Coremetrics Marketforce reporting and analysis. Coremetrics Marketforce for Retail is a managed solution that requires no new hardware or software and is deployed within days.

About Northern Tool
Northern Tool & Equipment Catalog Company has been a major supplier of high quality products to do-it-yourselfers and businesses including automotive shops, grounds maintenance professionals, contractors and more for over 21 years. Northern's main product lines are generators, small engines, pressure washers and hand, air and power tools but it also carries a variety of hydraulics, pumps, trailer parts, seasonal equipment and much, much more.

About Coremetrics
Coremetrics is the leading provider of online marketing analytics solutions, empowering companies to develop and act upon a comprehensive understanding of all visitor and customer interactions within their online channels. The company services over 150 unique brands online and was recently named the sole market leader in an industry report on Web analytics conducted by Forrester Research. Coremetrics Marketforce is the industry's only online marketing analytics platform that captures and stores all customer and visitor clickstream activity to build LIVE (Lifetime Individual Visitor Experience) Profiles that serve as the foundation for all successful e-business initiatives. Coremetrics Marketforce enables online marketers, IT officers, and e-commerce executives to attract and convert high value visitors, optimize shopping path design, and increase customer lifetime value. The company's clients include Ann Taylor, Bank of America, The Columbia House Company, CompUSA, Eddie Bauer, Motorola, Nortel Networks, Victoria's Secret, and Williams-Sonoma, Inc. Coremetrics is headquartered in Burlingame, California with offices in Austin, Texas and Portland, Oregon. The company is privately held with funding from Accel Partners and Highland Capital Partners. To learn more about Coremetrics, visit the company's Web site at http://www.coremetrics.com or call 877-721-CORE.

Coremetrics has strongly supported online privacy since its inception. To learn more, visit www.coremetrics.com/company/privacy.