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Retailing: Many Merchants Lack Measurement
When the 200 senior executives that participated in the study were asked to rank their top technology initiatives for 2003, measurement was dead last.
Nearly half (43 percent) [of the sites surveyed] could not provide shopping cart abandonment figures and 14 percent could not identify customer conversion rates.
This is the new frontier. We are going to start seeing a big surge in companies offering these kinds of services - primarily because it’s important.
But I wouldn’t run out and start your conversion analysis company. My instinct is it is going to become commoditized, much like email marketing has. That warning won’t be enough to hold back the companies that enter this arena as experts. It seems too good a market to pass up. There will be, and are, companies that offer this service at a very high level. But the services for small guys are mostly going to be done with plug and play software tools at a low monthly fee.
