E-commerce platform Marketlive has partnered with TrackIf, an "alerting technology" that places a "Notify Me" button on product pages, giving shoppers the ability to opt-in to receive personalized email alerts on price drops and items coming back in stock.
The potential of the product is appealing to retailers who continually struggle with lost sales among those consumers that don't immediately purchase. By enabling shoppers to "self-personalize" the marketing messages they receive, Trackif touts campaign open rates as high as 60 percent with sales increases of 12 to 20 percent. Think of the offering as an evolved interactive wish list for Internet retailers.
"Using personalized e-mail alerts makes shoppers feel in control because they get alerts for the items they really want," said Doug Berg, CEO of TrackIf. "These personalized alerts are the next era of marketing, much like TiVo changed television. We allow customers to curate what product promotions they want to receive and when. In return retailers gain huge customer loyalty and increased participation because their promotions are all tailored to the customer's preference."
MarketLive customers that are already using TrackIf's technology include Cost Plus World Market and Wilson's Leather.