Webloyalty Acquires Lift Media to Boost Conversion Rates and Attack Shopping Cart Abandonment for E-Tailers
NORWALK, Conn.--(Business Wire)--
Webloyalty.com (http://www.webloyalty.com), a leading provider of
incremental revenue for online businesses, today announced the
acquisition of Lift Media, a revolutionary payment platform company
based in San Francisco. The acquisition will benefit online retailers
seeking to increase their sales by providing them with a unique,
consumer-focused solution that reduces shopping cart abandonment and
elevates purchase conversion rates. No financial information on the
acquisition is being disclosed.
CheckoutFree(TM), the platform created by Lift Media, provides
alternative payment and shopping cart abandonment solutions for online
retailers. With CheckoutFree, consumers can receive products or
services for free or at discounted prices by agreeing to buy or sample
other products offered by various advertisers. Webloyalty works with
approximately 150 e-commerce sites to help increase incremental
revenue and repeat purchases. The two companies will combine
technologies and infrastructures as well as marketing and customer
service expertise to help e-tailers convert online window shoppers
into paying customers.
"Redcats USA and Webloyalty have worked together for many years.
They know online retail is one of the most competitive industries in
the world and we rely on them to look for ways to help us increase our
incremental revenue," said Milton Pappas, executive vice president,
corporate marketing and e-commerce, Redcats USA. "Webloyalty with the
addition of Lift Media now offers a suite of services that address the
common challenge of online retailers. Strategic companies like these
are the ones with whom e-tailers will partner."
Increasing Conversion Rates and Decreasing Shopping Cart
Abandonment
Forrester Research calculates the percentage of consumers who
started their research online and then went on to make a purchase to
be 32 percent ("How Consumers Actually Shop for Retail Products Across
Channels," May 2008). Marketing Sherpa estimates the average rate of
shopping cart abandonment to be almost 53 percent ("E-commerce
Benchmark Guide: 2007," March 2007). Products that address conversion
rate and shopping cart abandonment challenges will be valuable to
e-tailers.
Companies such as Bill Me Later(R), PayPal(R) and Google
Checkout(R) have provided consumers with more online payment options.
New advertising-supported alternative payment platforms, such as Lift
Media's CheckoutFree and TrialPay's TrialPay(R), boost conversion
rates by offering shoppers that abandon the purchase process other
products that they may have a higher propensity to buy.
Lift Media's proprietary optimization engine matches consumers to
the most relevant offers by analyzing general information on the
consumer, the product being purchased and the size of the purchase.
"Our conversion rate increased dramatically within days of
launching CheckoutFree. We sold significantly more units each month,
especially to new customers," said Bryce Lane, president and COO,
Peoplefinders. "Merchants and customers benefit from the use of
CheckoutFree. Online retailers can sell more merchandise and customers
gain an alternate method for purchasing products."
Webloyalty's Strategic Vision for Incremental Revenue
Webloyalty and Lift Media were founded by direct marketers who
built smart marketing technology platforms that drive incremental
revenue for e-tailers by enabling rapid, rules driven marketing
optimization of advertisers' offers. By joining forces, Lift Media
will also benefit from Webloyalty's existing infrastructure which
includes Payment Card Industry (PCI)-compliant systems and customer
services centers on the East and West Coast of the United States and
in the United Kingdom.
"Webloyalty partners closely with its clients. We listen and
respond to their business needs. Feedback from our partners was a key
factor in driving our decision to make this strategic acquisition,"
said Rick Fernandes, CEO and co-founder, Webloyalty. "Building off its
market leading position in the post transaction revenue category,
Webloyalty will continue to grow its commitment to becoming the
leading provider of incremental revenue for online businesses."
"Lift Media has the most sophisticated shopping cart abandonment
and alternative payment product on the market. We are proud to partner
our technological know-how with a powerhouse in sales and marketing
such as Webloyalty. All of our existing and potential clients will
benefit from our mutual commitments to increase conversion rates and
diminish shopping cart abandonment," said Jonathan Murray, CEO, Lift
Media.
About Webloyalty
Webloyalty.com, a leading provider of incremental revenue for
online businesses, has more than two million memberships in its
reward, discount and protection programs, including Reservation
Rewards and Shopper Discounts & Rewards. Members benefit from
high-value subscription services that match their needs and interests.
Webloyalty clients - more than 150 e-commerce, e-subscription and
e-travel sites - benefit from increased revenue and repeat purchases.
Founded in 1999, Webloyalty was recently rated one of the 200
fastest-growing technology companies in North America by the Deloitte
& Touche "Technology Fast 500" awards program.
Additional information about Webloyalty is available at
http://www.webloyalty.com. For customer service, please contact
1-800-732-7031 or customerservice@webloyalty.com.
Additional information about Lift Media is available at
http://www.liftmedia.com. For sales information, please contact
bizdev@liftmedia.com.
Webloyalty
Beth Kitchener, 203-295-2624
Corporate Communications
beth.kitchener@webloyalty.com
or
CK-PR for Webloyalty
Mark LoCastro, 212-251-1246
mlocastro@C-K.com
Copyright Business Wire 2008
