IQ Intelligence Suite to Optimize Online Retailer's Cross Channel Marketing Programs and Improve Ad Spend Efficiency
Needham, MA – October 17, 2011 - Cross channel marketing attribution software provider Visual IQ today announced that it has added leading online retailer O.co, also known as Overstock.com, to its roster of leading brand clients. O.co will use the company’s IQ Intelligence Suite to measure cross channel marketing performance and optimize marketing spend across all online and offline channels.
O.co tapped Visual IQ for its robust attribution management offering, which determines exactly how much monetary credit should be given to each marketing touchpoint that contributes to a conversion. The platform will enable O.co to translate large amounts of disparate marketing data into actionable insights that the company will use to determine the ideal marketing mix, drive increased marketing performance and inform ad spend decisions.
“We expect Visual IQ’s solution to allow us to quantify the interactions between our marketing channels and attribute the right value to each accordingly. The intuitive dashboards and spend management interface will help us optimize our marketing mix based on this understanding,” said Patrick Byrne, CEO of O.co. “Visual IQ’s technology will help us understand the impact of each marketing initiative on the others—and on the bottom line.”
In addition to attribution management and marketing mix modeling, Visual IQ will help O.co implement the platform’s recommendations into daily spend decisions and operations. Ultimately, O.co expects the efforts to increase sales as the company maximizes the investment of each and every marketing dollar.
“It’s no longer a matter of whether marketers will or will not adopt attribution management, but how they will unlock its full potential,” said Manu Mathew, CEO, Visual IQ. “O.co is a forward-thinking organization that clearly understands that the future of marketing lies heavily in how companies are able to make use of the data available. We are thrilled to bring them on as a client and look forward to helping them drive greater sales through more efficient and effective cross channel marketing.”
The IQ Intelligence Suite currently manages more than $5 billion in advertising spend on behalf of its clients, which include two of Advertising Age’s top three U.S. advertisers and two-thirds of the top agency holding groups worldwide. It is a hosted solution that requires no software to install or maintain, and all deployments include complete set-up, training and ongoing user support by the expert Visual IQ software support team. The Intelligence Suite can be used to manage as few as two channels, or for measuring and optimizing an entire marketing ecosystem, as O.co is doing.
Visual IQ produces the world’s most powerful cross channel marketing intelligence software products. Our hosted IQ Intelligence Suite reveals cross channel performance insights hidden within companies’ marketing data, driving actionable recommendations to improve marketing effectiveness.
These enable marketers and agencies to adjust their advertising strategies and tactics to significantly increase marketing ROI across their entire marketing mix. The state of the art science behind our marketing software products combines a user-friendly visual interface with built-in advanced attribution management and predictive modeling that clearly shows clients where opportunities exist for marketing optimization.
O.co, also known as Overstock.com, is Your Savings Engine offering brand-name products. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. O.co, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com and http://www.o.co. O.co regularly posts information about the company and other related matters on its website under the heading “Investor Relations.” Overstock.com is a registered trademark of Overstock.com, Inc., O.co and Your Savings Engine are trademarks of Overstock.com, Inc., Inc. All other trademarks are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding the forecasted benefits and performance of the software platform. Overstock.com’s Form 10-K for the year ended December 31, 20010, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and its other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.