San Francisco, California (PRWEB) October 20, 2009
California-based software company Amplified Analytics announced this week that the V2P Accelerator is available for public beta testing. The V2P Accelerator is a one-of-a-kind widget that displays product reputation metrics derived from customer reviews and is designed to significantly increase online retailers' visit-to-purchase conversions. Amplified Analytics is currently looking for online retailers of computers and consumer electronics to place the widget on their websites and reap the rewards.
The V2P Accelerator is built on a foundation of proprietary technology that produces product ratings that are both unbiased and consistent. Each rating is an aggregate summary of customer experiences with a specific product based on specialized metrics that measure the difference between the customer's expectations and their actual experiences with the product.
According to CEO Gregory Yankelovich, placing the widget on a product page is as simple as adding a few brief lines to the site's code. The widget itself clearly displays three individual product ratings that are both more reliable and more easily understood by consumers than the commonly used but ambiguous and confusing 5-star rating system (Liekert scale) invented early in the 20th century for psychometric survey research.
Providing customers with readily available, reliable, easy to understand ratings for the products they are considering purchasing has been shown to dramatically increase visit-to-purchase conversion rates. Yankelovich and his team of developers and mathematicians are optimistic that the V2P Accelerator widget will achieve even more impressive results.
"Ultimately, it improves the effectiveness of advertising," Yankelovich says. "Studies show that 97% of visitors to an online retailer leave without purchasing anything, which is a terrible waste of the advertising dollars spent to bring customers to the site. Simply put, increasing the conversion rate increases revenue, and if even a flawed system can increase conversions, imagine what can be achieved with a clearer and more modern methodology!"
The Accelerator's unique rating system, which provides a score of 0-2 for each of the three metrics it analyzes (product functionality, reliability, and support) takes much of the guess-work out of online shopping, a fact that Yankelovich is proud to say eliminates waste all along the supply chain.
While it is not the primary goal of the V2P Accelerator, Yankelovich shares that optimizing the supply chain is a great side benefit of helping customers make more informed product purchasing decisions. "Decreasing the uncertainty of a purchase also decreases the likelihood that it will need to be returned or repaired," he says, "which in turn decreases emissions and the overall environmental impact of production."
Online retailers interested in placing the widget on their product pages are encouraged to contact Amplified Analytics or visit the V2P Accelerator website to have a closer look at the technology.