Baynote, a leading provider of personalized customer experience solutions, today announced several corporate milestones achieved in the first half of its 2012 fiscal year ending on June 30 (1HFY12). These results include a 71 percent increase in average revenue with new customers as leading ecommerce properties continued to extend and expand the scope of their Baynote deployments. During the first half of the year, Baynote gained significant traction with apparel, home and beauty retailers, signing new deals with 15 leading brands including Urban Decay, Lilly Pulitzer and Hayneedle.
More than 325 major ecommerce websites rely on Baynote to personalize their shopping experience and deliver compelling offers, content and product recommendations proven to increase engagement, conversion and average order value. Hayneedle is currently ranked as the fourth largest home furnishings website by Internet Retailer. "With over one million home furnishing and decor products, Hayneedle needed a partner to help us present customers a selection customized to their unique style and taste," said David Markle, director of site experience, Hayneedle. "Baynote's unique personalization technologies and innovative spirit make them the perfect choice." Rachael Crews, director of ecommerce, Lilly Pulitzer had an immediate need to automate manual merchandizing and increase average order value. "We felt Baynote was the most qualified vendor to provide a solution to our business challenges," said Crews.
A summary of 1HFY12 customer performance metrics includes:
· Shoppers clicking on at least one Baynote recommendation during the period converted to purchase 225 to 355 percent more frequently than those who did not;
· Baynote customers experienced conversion rate increases of up to seven percent depending upon the industry;
· Baynote recommendations increased shopper average order size by 15 to 20 percent;
· Ecommerce revenue directly resulting from or influenced by Baynote recommendations ranged from 34 to 47 percent depending upon the vertical industry.
"The first half of 2012 has been extremely successful," said Bill Hustad, president and CEO, Baynote. "Baynote continued to increase the size and scope of our customer engagements, while benefiting from extremely high renewal rates for existing contracts. As forward looking retailers look to build personalization into the very fabric of their customer experience lifecycle, Baynote is uniquely equipped to serve their needs."
Baynote is a leading provider of personalized customer experience solutions for multi-channel retailers. Using Baynote's patented approach, retailers personalize the shopping experience in the moment across touch points, increasing consumer engagement, conversions and order values. Based in San Jose, Calif., with offices in the U.K. and Germany, Baynote's personalization solutions are trusted by more than 325 of the world's most well-known brands including, Anthropologie, Bluefly, Campbell's, Dell, J Crew, Jockey and Urban Outfitters. For more information about Baynote, visit http://www.baynote.com.
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