A common problem for marketers and CMOs at various brands is that they often spend much digital advertising dollars to acquire new customers ($121B in 2014 according to TechCrunch), yet serve up a static and irrelevant digital experience to these users. To attract new customers and engage existing ones, marketers need to provide a personalized experience to users and show them increasingly relevant information. I interviewed Boston-based Evergage (www.evergage.com) this week to learn about how they could help marketers deliver real-time web personalization.
Evergage was founded in 2010 by CEO Karl Wirth and CTO Greg Hinkle. Both Wirth and Hinkle spent years developing products at Red Hat. CMO Andy Zimmerman led marketing, sales, and business development efforts at various software companies.
Evergage delivers real-time web personalization without the need for IT or development resources. Its features include Evergage Tribes, which shows customers relevant products based on the behavior of like-minded visitors; Evergage Promote, which provides automated cataloging and promotion of products based on visitor behavior; and Evergage Platform, which provides the tracking, segmentation, and web personalization abilities. Marketers and CMOs could use Evergage to understand the kind of paid advertising their users clicked on, and their demographic information and browsing history, so that they could deliver immediately relevant experience to them.
An example of the best use case for Evergage’s product would be a user coming from Google search to examine a particular product on an e-Commerce website. Evergage’s product could stop the user before they leave the website, show them the product that they have been examining, and give them a relevant promotion for the product to facilitate the sale. Likewise, Evergage’s personalized social experience could also enable brands to better engage existing customers. Visitors looking to purchase a suitcase who come to a website personalized by Evergage would be organized into “Evergage Tribes” such as road warriors, budget purchasers, etc. and shown a personalized experience tailored to their preferences.
Wirth said that Evergage is focused on four target customer groups: B2C retail and travel companies focusing on e-commerce optimization; B2B companies looking to improve demand generation; media companies and publishers looking to better engage readers; and SaaS companies looking to better communicate with customers through in-app messaging. Target buyers within companies include senior-level marketers and customer success professionals.
Evergage’s competitors include other companies in the Website Personalization Tools sector such as Monetate, Qubit, Personyze, and others. Wirth said that their competitors’ solutions are so technical that they require additional engineering resources, lack ability to take action in real time, and have limited personalization data and costly pricing structure. Evergage differentiates from its competitors by offering a completely marketer-driven solution so no technical resources are needed, giving real-time feedback that prompts users to take actions, and have sophisticated personalization data and affordable pricing structure. I have given Evergage an analyst pulse of “High” in recognition of its product market differentiation.
Evergage has achieved some impressive milestones this year including closing a $4M round of Series A funding, adding a few top online retailers to its customer list, and releasing new features including Evergage Promote and Evergage Tribes. Looking forward, we are excited to see how Evergage could continue enable marketers and CMOs at brands and businesses deliver real-time personalized digital experiences to increase customer engagement and retention.
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