Press Releases

San Mateo, CA – July 12, 2004 – Coremetrics™, a leading provider of hosted Web analytics solutions, today announced that they have delivered a successful solution for Fingerhut Direct Marketing, a leading catalog retailer, resulting in a significant increase in revenue this year based on detailed analysis of online customer and visitor behavior from Coremetrics.

Fingerhut used a single report from Coremetrics to identify which search terms on the www.fingerhut.com Web site displayed zero results and caused customers to leave the site dissatisfied. After identifying that 55% of on-site searches were returning no results, Fingerhut began to fix failed search terms and immediately recognized a 10% increase in search revenue and a 26% increase in conversion rates.

"We knew on-site search was a problem, but had no way to quantify it without Coremetrics," said Mike Sidders, director of eCommerce at Fingerhut. “Within days of deploying our Coremetrics custom report, we gained outstanding actionable visibility that identified the opportunities. This single Coremetrics report will have a significant ROI for the company."

Fingerhut needed to quantify the impact that on-site search was having on customer satisfaction. The leading catalog retailer relied upon Coremetrics to rapidly create a custom report that determined the average number of users that received a failed search message, as well as the exact search terms that were failing.

Fingerhut Direct Marketing, Inc., a unit of Petters Group LLC, is a direct to the consumer marketing company selling a broad selection of merchandise including electronics, housewares, home textiles, jewelry and furniture. Products are marketed through catalogs and the Internet to millions of consumers nationwide. Fingerhut’s maintains a proprietary database to provide credit, target offers and build lifetime relationships with customers. For more information visit www.fingerhut.com.

"On-site search is one of the most valuable tools for online retailers because it helps high-value customers quickly find what they are looking for," said Joe Davis, president and CEO of Coremetrics. "Unfortunately, on-site search is not an easy feature to manage because the specific terms and results have to be constantly analyzed and modified to drive higher conversions. Coremetrics data is invaluable to that process and Fingerhut is a great example of how we help companies manage critical functionality like on-site search to increase profitability. It is expertise like this that makes us the #1 provider of web analytics solutions to online retailers."

About Coremetrics
Coremetrics is a leading provider of hosted Web analytics solutions. The company’s flagship product, Coremetrics Online Analytics 2004, is the industry's only Web 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. With Coremetrics Online Analytics 2004, online marketers, IT managers, and e-commerce executives are able to attract and convert high value visitors, increase customer lifetime value, and create a multi-channel view of customer behavior. Coremetrics service s over 230 unique brands online, including Bank of America, Columbia House, CompUSA, Eddie Bauer, Motorola, The Weather Channel, Victoria's Secret, and Williams-Sonoma. Coremetrics is privately held with funding from Accel Partners and Highland Capital Partners, and is headquartered in San Mateo, California with offices in Austin, Texas and Portland, Oregon. To learn more about Coremetrics, visit www.coremetrics.com or call 877-721-CORE.

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