Macromedia Inc. upgraded its real-time LikeMinds Web
personalization solution to version 5.0, saying the new release extends the
power of brick-and-mortar marketing technology to e-businesses.
This version offers “more relevant product recommendations” and was designed
to increase average order size and customer retention, the company said.
Macromedia also released a version of LikeMinds 5.0 software specifically
developed to integrate seamlessly with BroadVision One-to-One Commerce
applications and to
complement its rules-based personalization solution. Macromedia also
introduced Aria Enterprise 5.0 software, the latest version of its Web site
tracking, reporting and analysis solution.
LikeMinds 5.0 is a patented collaborative filtering personalization software
solution that can analyze visitor buying patterns in real-time, while a
customer is actively engaged
on the site. In addition to making real-time recommendations based on
clickstream, purchase history, preferences and product matching, LikeMinds
5.0 adds a new Item Affinity Engine for performing online market
basket analysis.
The market basket analysis technology , already in use in the
brick-and-mortar retail marketing world, makes “if then” recommendations for
products that real-time analysis has shown are frequently purchased in
tandem. These products can range from intuitive
cross-sells such as a camera and a carrying case to less obvious choices such
as recipe ingredients (like sour cream and French onion soup mix for chip
dip) that are often purchased together but would be unlikely to be related in
a pre-defined selling rule.
“The more relevant and satisfying e-marketers can make the shopping
experience for their customers, the more likely both customer retention rates
and online order size will increase,” said Stephen Elop, senior vice
president and general manager for Macromedia.
“LikeMinds 5.0 makes the
consumer shopping experience seamless. Visitors can purchase more products
that address their individual needs in less time”
LikeMinds 5.0 also has a new Web-based administration interface and
additional capabilities for personalizing the experience of first time
visitors.