Baynote, Inc., the leader in recommendations and social search, today announced continued significant growth in the adoption of its Collective Intelligence Platform (CIP) as part of the larger growth trend in the overall recommendations space. Counter to an overall decrease in spending on software, companies continue to adopt Baynote because it can rapidly lead to higher revenue and lower costs. Over 130 organizations and 200 websites now leverage the Baynote CIP.
"Having Forrester recognize product recommendations as a 'quick win' validates what our customers already know, that Baynote delivers the kind of short-term ROI everyone is focused on in a tough economy," said Jack Jia, CEO for Baynote. "And backing up the Forrester comment is the actual traffic stats from our datacenter that shows us breaking from the pack and taking the lead in this growing space."
One indication of Baynote's growth in particular is an analysis of the traffic (user visits) to its datacenter which has seen a 1200% growth year over year according to Compete.com. Even during the difficult time between November 2008 and January 2009, the traffic grew an additional 80%, an indication of continued adoption of the platform. This 'recommendation served' increase not only indicates the overall growth of the recommendations space, it also shows that Baynote's growth significantly exceeds any other recommendation provider, a testament to the superiority of Baynote's social and cognitive science approach.
Another indication of the continued importance of the overall space and why this growth continues despite the deep recession can be found in a recent Forrester report titled The Impact of The Economic Crisis On eCommerce Technology Investment. The report says, "Combined with the positive impact on business metrics and the customer experience, we expect SaaS offerings in the reviews, recommendations, marketing, customer service, and analytics spaces to continue to see strong momentum." Recommendations technology was one of three technologies described as "quick wins" in the Forrester piece. The analyst responsible for the report will be speaking on a joint Baynote-BazaarVoice webcast on April 8th at 11:00 PDT.
A driving factor behind Baynote's continued expansion in customers, which include Fortune 500 companies and leading global eCommerce sites, is customers experience significant lifts after implementing Baynote's CIP. Baynote's customers that have recently gone live are global leaders in their respective categories, including:
• One of the largest US wireless carriers;
• Online stores for the world's top media conglomerates;
• One of the top 10 largest US eCommerce sites;
• A top international lifestyle apparel and specialty retail company;
• A top UK-based international department store.
Another continuing trend among the Baynote customer base is the extension of the CIP beyond the initial website implementation. For some customers this means they have extended to crowd-based navigation, for others email recommendations, search marketing and other marketing channels.
Launched in 2006, Baynote (baynote.net) delivers on-demand recommendation technology and social search for websites. By automatically displaying the best content and products, the Baynote Collective Intelligence Platform (CIP) increases online revenue, leads and impressions. Baynote delivers millions of recommendations each day for more than 130 eCommerce, media and enterprise customers, including Expedia, Motorola, NASA, The Knot and US Appliance.
Baynote™ and UseRank™ are registered trademarks of Baynote, Inc. All other trademarks are properties of their respective owners.