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August 8, 2013

Monetate launches LivePredict to identify high-value customers

New cloud-based product allows marketers to target high-value customers with personalised offers in real-time.

By Claire Vanner

Monetate has announced the launch of LivePredict, which automatically identifies valuable audience segments.

The automated customer segment discovery product gives marketers the ability to instantly take action by targeting personalised offers and content at each relevant customer.

The new cloud-based product automatically identifies high-value customers and allows marketers to target them with experiences that drive higher conversions, loyalty and revenue

LivePredict addresses the shortcomings of traditional testing and segmentation, which has marketers swimming in data trying to determine which content to target to which group.

LivePredict identifies, at the brand and campaign levels, highest and lowest-performing segments, ranked by Impact Score (performance of the segment compared to the site average, multiplied by number of visitors in that segment), which allows marketers to understand the potential business opportunity of each segment.

The High Potential dashboard also helps marketers drive strategy and determine where to focus their efforts, in other marketing channels, to drive more of those high-value customers to their digital sites.

"LivePredict by Monetate provides us with insights about our customers we could otherwise never uncover," said Gregory Phillips, senior web analyst, testing and optimisation at OfficeMax. "With LivePredict, we can see the highest and lowest performing segments for each campaign we run, right within the user interface.

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"This insight allows us to target the campaign to segments that responded positively and try a different approach for the segments that didn’t respond well the first time around."

"LivePredict delivers the future of personalisation for marketers," said David Brussin, CEO of Monetate. "Smart marketers are focused not on the transaction, but rather on fostering a lasting relationship between consumer and brand. LivePredict helps them create that lasting bond."

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