Net Perceptions Unveils E-Commerce 5.0: Next Generation Personalization Solution
Companies Can Now Easily Bridge Marketing and Merchandising Activities With Real-time Personalization Strategies
November 10, 1999 08:13
MINNEAPOLIS, Nov. 10 /PRNewswire/ -- Net Perceptions(R) (Nasdaq: NETP), the leading supplier of realtime personalization solutions, today announced that it will unveil Net Perceptions for E-Commerce 5.0 at the first Personalization Summit in San Francisco, Monday, Nov. 15.
The latest version of the world's first 1:1 personalization recommendation engine for e-commerce represents a significant advancement in power and sophisticated new tools, including several new integrated merchandising and analysis features that will enhance both marketing and logistics for retailers. The e-commerce personalization product also features the most current version of Net Perceptions' award-winning recommendation engine with increased usability and scalability, making it easy for retailers to install and integrate it into high-traffic Web sites.
"This product successfully combines our personalization recommendation engine with tools that allow sophisticated merchandising, integrated reporting and analysis," said Steven Snyder, Net Perceptions president and CEO. "The qualities of this latest version make it an incredibly powerful marketing tool. It dramatically strengthens our position as the world's most widely deployed realtime personalization solution for e-commerce."
Three New Modules Target Specific Needs
Net Perceptions for E-Commerce 5.0 consists of three new modules that target the specific needs of the shopper, the retailer and the marketer.
Central to the company's latest version of its e-commerce software is the Net Perceptions Personal Shopper(TM). It serves as the customer's personal shopper by understanding the individual's preferences and what they've bought in the past, as well as their immediate interests based on what they're looking at today. The product learns preferences and can recommend items from the customer's favorite department as well as offer daily specials selected especially for them. It can find gifts for family and friends and remind them of other items they may want to buy.
"We modeled this feature after experienced personal shoppers in the best stores," said Steve Larsen, Net Perceptions senior vice president. "Now consumers get the highest level of personal service possible without having to pay higher prices for special treatment."
From the retailer's perspective, Net Perceptions Smart Merchant(TM) complements the Personal Shopper by allowing retailers to implement specific sales strategies such as recommending related items, incorporating new product promotions and making cross-department recommendations.
Net Perceptions for E-Commerce 5.0 is smart enough to avoid offering out-of-stock items and nimble enough to differentiate between similar products. In addition, merchants can target their customers based on shopping behavior, such as offering close-out specials to bargain-hunters or newly featured top-end items to quality-conscious shoppers. Net Perceptions for E-Commerce 5.0 can also be used to help create more relevant loyalty programs for a retailer's best customers.
Bruce Kasanoff, CEO of Accelerating 1to1, said, "Net Perceptions for E-Commerce 5.0 provides a much-needed bridge between the way enterprises are used to doing business and the personalization capabilities Net Perceptions has long provided. It makes it easier for enterprises to remember information for customers in a manner that benefits each customer. Companies that leverage this technology can gain true competitive advantage while delighting their customers."
The third significant addition to Net Perceptions for E-Commerce 5.0 is the reporting and analysis capability. Net Perceptions has partnered with MicroStrategy Inc. (Nasdaq: MSTR) to create a reporting and analysis module specifically designed for companies using Net Perceptions personalization products. Net Perceptions is incorporating MicroStrategy's Intelligent E-Business(TM) Platform as part of its Net Perceptions Decision Support module.
The Decision Support features allow retailers to track specific online promotions across time and at all customer touch points. By providing insight into the products being recommended, bought and ignored, retailers have the information needed to make more actionable merchandising decisions. Retailers also can analyze customer purchases based on how recently or frequently individuals buy and how much they spend.
Andrew Dorward, director of personalization at Bertelsmann's BOL.com, said, "We are very excited about the new reporting and analysis capabilities. They will help our marketers better understand our individual customers, overall consumer trends, and allow us to monitor the success of the Net Perceptions product in generating click-throughs and sales."
"This is a significant extension to the existing Net Perceptions for E-commerce feature set," Dorward said. "We plan to take advantage of the ability Net Perceptions gives us to learn more about each shopper's preferences and interests, both long-term and within the context of individual shopping sessions. By using Net Perceptions solutions, we are able to serve our customers better."
Net Perceptions for E-Commerce 5.0 will be shown at the Personalization Summit, held Nov. 15-16 in San Francisco. The product is currently available. Additional information on Net Perceptions' products is available at www.netperceptions.com.
About Net Perceptions
Net Perceptions is the leading supplier of real-time personalization solutions that enable businesses to market to customers on a true one-to-one basis. Net Perceptions solutions increase new and repeat business by learning more about each customer's individual needs, tastes and preferences with every interaction, then making increasingly personalized product and service recommendations. Net Perceptions, based in Minneapolis, is a publicly held company that operates additional offices in New York, San Francisco and Reading, England, and a joint venture office in Japan. Customers include many of the world's best-known brands including Art.com, Bertelsmann, Billboard TalentNet, CDNOW, E!Online, Micron, SkyMall, Tower Records and Ticketmaster Online. For more information about Net Perceptions products, visit www.netperceptions.com or call 800-466-0711.
Net Perceptions is a registered trademark of Net Perceptions. All other trademarks are the property of their respective owners.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the company's limited operating history, delays in product development, development of the Internet market, changes in product pricing policies, competitive pressures and the risk factors detailed from time to time in the company's periodic reports and registration statements filed with the Securities and Exchange Commission.
SOURCE Net Perceptions
/CONTACT: Jacqueline Hanson of Net Perceptions, 612-918-1749, or
800-466-0711, or jhanson@netperceptions.com; or Susanne Buti of Waggener
Edstrom, 425-637-9097, or sbuti@wagged.com, for Net Perceptions/
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