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BizReport : Ecommerce archives : October 08, 2010

Buysight focuses on consumer insights

With a name change from Permuto to Buysight, the online platform is ready to focus not just on consumer acquisition and remarketing but on consumer insights. For brands across the web, finding in-market consumers and analyzing their browsing and buying habits can be the difference between a consumer who visits often and a consumer who buys often.

by Kristina Knight

buysight.jpgAccording to Buysight CMO Jeff Weitzman, the name change is about more accurately branding the platform so that marketers know exactly what they are getting - customer acquisition, remarketing and real time branding.

"Buysight gathers timely shopping transaction and activity data, and transforms that data into real-time insights," said Weitzman. "By leveraging data from our Buysight Co-Op and turning that data into actionable insights, we are able to accurately predict what over 65 million individual shoppers what to buy and connect them to companies that best meet their needs with instantly personalized, relevant offers for products they are interested in."

From an advertising standpoint, most brands are looking at ways to more deeply engage with the consumer. Targeted and retargeted ads as well an deeper metrics are the way most brands are approaching the second decade of the 21st century. One of those metrics is purchase intent.

"Advertisers have long tried to appeal to individuals by making assumptions about large groups and the demographics or behavior they have in common," said Weitzman. "Understanding purchase intent is an attempt to base advertising on what a single individual wants; it's a whole new ball game. Sometimes an individual may be brand loyal and other times she may be more price sensitive. Purchase intent-based advertising tries to factor all that in and address the individual consumer."

The problem, of course, is that there is no magic bullet that immediately finds its mark with a consumer who will definitely buy a specific product at a specific time. Instead, it is an analysis of what that consumer might do and from there the marketer has to do their job.

"If it were just a matter of collecting data, everyone would do it well. It's how you interpret and draw insight from a wide range of data that makes the difference," said Weitzman. " That's why basing advertising on what a shopper does on one site is limiting--they may or may not be acting in accordance with their true intent on that site. If you can look across a number of sites where the shopper is engaged in similar activity, you get a more accurate picture and you can draw inferences that lead to better, more effective advertising."

Tags: ad targeting, brand advertising, Buysight, customer acquisition, ecommerce, Jeff Weitzman, online advertising

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