May 2, 2007

Invisible Crowds of Like Minded Shoppers: Boosting Online Revenue with Baynote

What if you went to a car dealer looking for the perfect car for you and your family. You went to the parking lot and were presented with an over whelming display of car choices to pick from. The choice would be quite hard. Having the sales person help, would help a bit, but the choice is still confusing.

How much easier would the process be if you walked into the auto dealer and there were 10 other people, who were just like you. They had 3 kids, a dog, a white picket, fence, home owners, apple pie in the oven and went on vacation twice per year.

What if they told you they bought a 2007 Dodge Caravan? Wouldn't you trust their judgment and buy. Sure, you'd think about it a bit, but knowing what 10 others bought, who fit your profile, would help guide you to the right decision.

Baynote does this very thing for ecommerce web sites.

Baynote's new offering automatically delivers dynamic product and content recommendations for e-commerce sites to connect visitors with the right set of products and services and thereby increase conversion rates. This means MORE sales to your web site.

Why has Amazon.com been so successful. One huge reason is by leveraging the power of "others who bought this book also bought this book" to make your buying decision easier and to get you to buy MORE.

Baynote enables online retailers to sell a more diverse set of high-margin products that are not profitable for brick-and-mortar stores to keep in stock. By identifying like-minded shoppers and automatically recommending products for particular tastes, online retailers can uniquely address the needs of these niche shoppers, selling far more products at lower costs than traditional retailers with finite shelf space.

The new Community-Guided eCommerce solution offers a complete set of benefits exclusive to Baynote customers, including:

Peer-Driven Recommendations - automatically identifies small and large segments of shoppers based on consumers' website behavior, and recommends specific products based on what peer-shoppers have considered and purchased

Seasonality & Fad Detection - recognizes shifts in visitor interests that happen over hours or months, and automatically adjusts which products are recommended to continually optimize conversion rates

Product Gaps - identifies products that shoppers are looking for but are not currently offered

Dynamic Landing Page Optimization - recognizes site visitors who come from natural or organic web search results, and displays visitor-specific recommendations that maximize the conversion potential for all traffic generated by search engines

Implicit Folksonomy - utilizes shoppers' normal searching, browsing, and purchase behavior to automatically tag all products on the site, significantly increasing traffic

Built-in A/B Measurement - automatically performs visitor split testing, giving e-commerce managers the tools and reports to see precisely how much revenue lift is generated by Baynote

What Baynote is offering

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