Monetate Research Shows Increase in Personalization and Better Performance over Last Year
NEW YORK, Nov. 07, 2019 (GLOBE NEWSWIRE) — Monetate, a Kibo Company and a worldwide leader in personalization, today announced findings from Thanksgiving weekend including Black Friday and Cyber Monday. The company, which experienced a 2x increase in session volume this year over last year, found that retailers have increased their use of personalization, and are benefitting this holiday season with dramatically better conversion rates and order values.
- US Conversion Rates were 5.6 times higher for pages with Monetate personalization compared to non-personalized pages.
- UK Conversion Rates were 3.2 times higher for pages with Monetate personalization compared to non-personalized pages.
- Average Order Value increased 54% for US shoppers exposed to Monetate personalization
- Average Order Value increased 11% for UK shoppers exposed to Monetate personalization
Monetate also found that retailers grew the use of personalization by more than 200% from 2018 to 2019 across the US and the UK. This includes growth across segmented experiences, Individual Fit Experiences (one-to-one personalization) and Majority Fit Experiences (dynamic testing).
Individual personalization often affords brands the most effective approach, but brands must first identify visitors. Monetate found that over this Thanksgiving weekend, US retailers identified just over one-third (35%) of their visitors across desktop and mobile compared to only 23% visitor identification last year. In the UK, identification rates are lower due to stricter data laws, but UK retailers still increased their visitor identification rates by 2% across desktop and mobile. This is good news for brands as they work to create better cross-device personalization as well.
“Our retailers dramatically increased their use of personalization across many channels, and the effort paid off with higher performance this Thanksgiving weekend,” said Lisa Kalscheur, CMO at Kibo. “Combining different personalization tactics enables brands to deliver a cross-channel experience that is better for customers, and better for business.”
Monetate, acquired by Kibo in October 2019, is the global leader in personalization software for consumer-facing brands, enabling marketers to grow more of their customers into their best customers. Monetate’s industry-first programmatic Personalization Exchange allows brands to create a more relevant and personalized customer experiences. Monetate’s scalable, powerful, and agile Personalization Engine helps brands deliver individualized interactions that delight customers and increase customer lifetime value.
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, Timberland, Celebrity Cruises, The North Face, and hundreds of other market leaders. Learn more at www.monetate.com.
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