SEMDirector, Inc. Changes Name to Covario, Inc. to Reflect Expansion of Business Strategy and Product Line
Covario Enables Measurement of Interactive Advertising Performance in Addition to Search Marketing Metrics
SAN DIEGO — Covario, Inc. (formerly SEMDirector, Inc.) today announced in conjunction with its annual event, INFLECTIONPoint, to be held January 24-25 in La Jolla, Calif., that the company has changed its operating name to Covario, Inc. due to an expansion of its business strategy. The name change is a result of the company’s broadening focus to include performance management technologies, not only in search advertising, but also in additional forms of interactive media, specifically display advertising. “Covario” is a play on the word “covariance,” a statistical term used to describe how well different systems relate to each other. This concept is indicative of how Covario will allow advertisers to understand the relative effectiveness of various forms of interactive media.
Covario focuses on designing products and solutions which bring unity and order into the interactive marketing management process. According to Suresh Vittal, senior analyst at Forrester Research, “Today interactive marketing is a fragmented discipline in which marketers work with many different vendors to develop and execute marketing programs. But as the number of channels and programs grow, this situation becomes untenable.”
Vittal added, “Forrester believes the time is right for the online marketing suite to emerge. This suite, underpinned by a central hub, is the eventual destiny for all online marketing technology and will enable a single view of the customers across channels, provide process tools to support collaboration, centralize optimization and support a partner ecosystem.”
While operating as SEMDirector, Covario focused on building out best-in-class technologies for managing paid and organic search. According to eMarketer research, search marketing programs comprise upwards of 40 percent of the interactive marketing budget of most large advertisers. Covario’s strategy expansion is geared towards the other 40 percent of this budget, which is spent on display advertising. The remainder of the budget is allocated to social media, email, mobile and other forms of online channels.
“In the past 12 months, the majority of our customers have asked us to expand the scope of our search-focused technologies in order to access a central hub by which to gain visibility into the comparative performance of their overall interactive marketing spend,” says Russ Mann, chief executive officer of Covario. “Already in production with more than 35 major advertisers, our technology platform – Marketing Action Platform – was built with the intention of serving as that key hub.”
In 2008, Covario will bring new products to the market in order to expand the scope of the company’s solutions and to provide advertisers with 360 degree visibility into all of their interactive marketing performance. The new products will support areas such as display advertising, mobile and social media.
“We wanted a company name to match the increased scope of our solution and the Covario brand succinctly summarizes the more holistic offerings we are bringing to the market in 2008 and beyond,” added Mann.
Covario offers the Covario Marketing Action Platform[TM], a hosted solution designed for large advertisers to efficiently manage complex global search engine marketing campaigns. Covario Marketing Action Platform automates the gathering of search engine, Web analytics and other sales and marketing data to provide a consistent business view of information that includes budget and purchase order allocations, customer engagement and return on ad spend (ROAS). The platform offers two core software solutions: Covario Paid Search Insight[TM] and Covario Organic Search Insight[TM]. Covario Paid Search Insight provides search, digital and interactive media executives and managers with a single environment for tracking and evaluating paid search marketing performance. Covario Organic Insight enables large enterprises to automate Web site auditing for effective compliance with search engine optimization (SEO) best practices. Both solutions also deliver actionable information for global organizations to evaluate, monitor and measure corporate and competitive online brand presence across multiple Search Engine Results Pages (SERPs) for paid and organic programs.
To learn more about Covario, please visit www.covario.com.
About Covario, Inc.
Covario, Inc., formerly known as SEMDirector, is the leader in interactive marketing analytics (IMA) software. The Covario portfolio provides global organizations with robust interactive and search marketing analytics solutions for display advertising, paid search advertising and organic search engine optimization across the enterprise and throughout the channel. Covario enables complex and distributed organizations to control brand integrity, ensure budget transparency and deliver quantifiable results across business units, distribution channels and languages. Headquartered in San Diego, Covario’s growing customer list includes some of the world’s best known brands in high tech manufacturing, financial services, electronics, media & publishing and consumer packaged goods, such as Intel, Procter & Gamble, Hewlett-Packard, Lenovo and AIG/AIU among others. For more information on Covario call 858.397.1500 or visit http://www.covario.com.
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