Designed to enable retailers to offer customers real time individualized pricing incentives online, Runa announced today the release of “Conversion Marketing.” The solution is aimed at picking up where SEO and SEM stop, to focus on converting Web traffic into sales.
While traditional price optimization solutions have been rule-based tools, using data analysis from historical patterns Runa Co-Founder & CEO Ashok Narasimhan pointed out that conversion marketing-focused solutions, are goal-based and designed to allow real-time data to be combined with underlying data such as cost of goods. Rather than simply setting a price and establishing a corresponding markdown and promotion strategy, Narasimhan said conversion marketing tools are intelligent and learn over time.
“From the outset, we set out to address this opportunity in online marketing with a new approach; one that works within the conversion optimization funnel — not outside of it,” said Narasimhan. “Runa focuses on “the last inch” with a new approach to convert traffic into sales for our customers.”
Runa has defined conversion marketing by several key factors, including:
- Real-time shopper segmentation: Understand the context of shoppers by using pre-click and post-click information.
- Prediction of purchase intent: Dynamically determine the purchase intent for the items a shopper is currently looking at.
- Profit-optimized sale pricing: Use e-tailer’s business rules and analytics to determine the best sale price for each shopper.
- Real-time delivery of profit-optimized sale pricing: Dynamically delivering profit-optimized sale prices to individual shoppers while they are still on an e-tailer’s site. Additionally, the presentation and offer acceptance must be seamless on the e-tailer’s site.