Online behavioural marketing and analysis company RedEye has won £185,000 funding from the Department of Business Enterprise and Regulatory Reform (BERR) via the Northwest Regional Development Agency (NWDA) to support the company’s software development programme. This will be in the area of behavioural marketing, creating real-time, event-driven, closed-loop tracking technology.

One of the key reasons RedEye has been awarded this grant was the unique way in which it enables advanced, flexible and unlimited online segmentation of data, which it carries out for a number of blue-chip clients including William Hill, Asda and Warner Breaks. With this investment, the company can further improve and progress its capabilities in this area, helping the online marketing arena to become smarter in its customer communications through better targeting and relevance. RedEye is therefore starting to work on an advanced segmentation tool as part of a wider development fund project called ROME (RedEye Online Marketing Engine).

Mark Patron, CEO of RedEye, commented, “This is a very prestigious and incredibly useful funding award which will enable us to make significant technological advancements that deliver a unique, next-generation online marketing product. It will ultimately be very beneficial for our clients as it will allow them to successfully achieve increased marketing effectiveness through enhanced behavioural marketing, driving personalised and relevant emails in a way that has not been possible to date.”

Mark Hughes, Executive Director of Enterprise and Skills at the NWDA said: “England’s Northwest is home to a number of internationally competitive sectors, which are knowledge based with a wide growth potential. The NWDA supports innovation at all levels and encourages companies who have the skill, support and know-how to realise their ambitions.

“The grant for research and development from the NWDA will enable RedEye to increase analytics revenues to £4.9m by 2014. This type of growth will strengthen the Northwest’s image as a technically competent region, a thriving place to do businesses, with a highly skilled workforce.”

The behavioural marketing development programme that RedEye can create as a result of this funding will focus on two areas. Initially it will centre around profile-based, segmented and personalised email marketing, creating a system that makes it possible to analyse individuals’ website visits in order to populate, in real-time, the profile database. This, in turn, will generate further emails informed by the visitor’s actions every time they come back to the site – enabling increasingly more relevant communications to be delivered.

The next stage is then to use the user profile information to dynamically personalise website content, such as providing an individual list of the most relevant hot links in terms of their personal interest and time of visit.

There are several key benefits of this new generation of behavioural marketing service. It will increase ROI of direct email marketing campaigns; increased relevancy will enable clients to improve both the level of sale per website visit and also the number of visits generated by marketing campaigns; email deliverability rates will improve as increased email relevancy will ensure that emails from clients will become more acceptable to the recipient and so more likely to be allowed through by ISPs.

Patron adds, “We are now at a very exciting point in our company development as this funding allows us to take our behavioural marketing capabilities to the next level, leading the way in this exciting sector.”

ENDS
Contacts:
Mark Patron at RedEye: T 020 7824 9979, M 07810 640888, E mark.patron@redeye.com
Susan Perolls at Loudmouth PR: T 020 7981 9858, E susanp@loudmouthpr.co.uk
About RedEye

RedEye was established in 1997 and clients include William Hill, Asda and Butlins. RedEye helps clients sell more and communicate better through the internet. RedEye provides a unique combination of web analytics, email and usability services under the banner “online behavioural marketing and analysis”. These allow competitive advantage to be gained from a deeper understanding of user needs and activity. RedEye is one of the fastest growing digital marcoms businesses in the country and recently featured in the Sunday Times’ Tech Track 100 league table.

About NWDA
The Northwest Regional Development Agency (NWDA) leads the economic development and regeneration of England's Northwest and is responsible for:

• Supporting business growth and encouraging investment
• Matching skills provision to employer needs
• Creating the conditions for economic growth
• Connecting the region through effective transport and communication infrastructure
• Promoting the region’s outstanding quality of life

For further information and to view previous press releases visit us at www.nwda.co.uk/press

Published on: 12:00AM on 22nd October 2008