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Ease-of-use and business impact make Monetate’s Testing and Personalization Platform #1 in Customer Satisfaction according to Customer Reviews and Independent Research
PHILADELPHIA, Pa. – 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 copies 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, the global leader in personalization software for consumer-facing brands, enables marketers to create truly individual experiences that surprise and delight every customer, increasing engagement and improving performance.
Monetate’s approach to personalization starts with the understanding that each individual is unique, and instantly chooses the best interaction for each one. Unlike testing, which identifies the best choice for everyone, or segmentation, which defines the best choice for a group of people, Monetate’s 1-to-1 personalization engine reflects the full diversity of human beings and creates an experience for each one, in each moment.
In order to deliver true 1-to-1 experiences, Monetate’s platform is:
Founded in 2008, with offices in the U.S. and Europe, Monetate is used by leading brands around the world and influences billions of dollars in revenue every year for QVC, Newegg Inc., J. Crew Group Inc., The North Face, and hundreds of other market leaders.