RichRelevance Takes Home ad:tech Innovation Award for Shopper Marketing
Industry leaders single out RichRelevance’s Shopping Media as the most promising technology to emerge for brand advertisers this year
San Francisco, CA – April 14, 2011 –– RichRelevance®, the leading provider of dynamic e-commerce personalization for the world’s largest retailers, today announced that it has won the 2011 ad:tech Innovation Award in the Shopper Marketing category. The award was presented to RichRelevance CEO David Selinger at the ad:tech San Francisco conference yesterday, following Selinger’s presentation on Shopping Media and the future of Shopper Marketing at the ad:tech San Francisco Startup Spotlight. Selinger’s session demonstrated how Shopping Media and RichRelevance’s enRICH for Brands can deliver superior results for CPG ad campaigns on leading retail web sites including Target, Sears and Overstock.com. In a live walk-through, Selinger showed how a hypothetical $500,000 ad campaign featuring Shopping Media delivers 20x industry standard engagement rates, increase in sales and unprecedented brand insights to agencies and advertisers.
“Shopping Media combines 1:1 personalization, optimization, data and insights – all in real-time in a way that is completely transparent to shoppers,” said Selinger. “As advertisers and agencies strive to engage consumers along the entire path to purchase, Shopping Media ensures that the right brand assets are available at the point of purchase in a way that enhances the shopping experience. Our clients understand that relevance deep in the funnel drives a huge uptick in online and offline purchases – and enables unprecedented brand measurement. It is very exciting to see this knowledge so eagerly embraced by the ad:tech community.”
In his session, Selinger also highlighted a real RichRelevance client, a leading toy manufacturer, who has used Shopping Media to generate and measure exceptional results:
- 27% increase in sales for advertiser-related products.
- 36,000 more searches (31% increase) for advertiser-related terms compared to 3 week period prior to campaign.
- 75% of all advertiser-related purchases sold during the campaign were driven by ads served through RichRelevance Shopping Media technology
Studies show that 41% of shoppers visit retail websites prior to making a store visit, and that 62% of shoppers engage in at least one digital deal activity for half or more of their shopping trips. Shopping Media complements the online shopping experience with engaging rich media – including video tutorials, testimonials, couponing, trials and reviews – integrated directly into product recommendations on leading retail sites. Through this technology, advertisers and marketers gain an entirely new way to increase brand awareness, drive brand preference and increase cross-channel sales by telling their brand story where it has the most influence and impact – at the point of purchase. To date, the company serves more than 30 brand advertisers, including Universal Studios, Kellogg’s, Colgate Palmolive and Toyota.
About the ad:tech Innovation Awards
Ad:tech Innovation Award winners in data, mobile, social and shopper marketing were selected from companies who qualified for ad:tech’s Startup Spotlight Series at ad:tech San Francisco. The Startup Spotlight features the most promising services and technologies for brands and marketers in the digital space. For more information, please visit: http://www.ad-tech.com/sf/startup/ad-tech_startup.aspx
RichRelevance powers personalized shopping experiences for the world’s largest and most innovative retail brands, including Wal-Mart, Sears, Overstock.com and others. Founded and led by the e-commerce expert who helped pioneer personalization at Amazon.com, RichRelevance helps retailers increase sales and effectively monetize site traffic by providing the most relevant products, content and offers to shoppers as they switch between web, store and mobile. RichRelevance has delivered more than $1 billion in attributable sales for its clients to date, and is accelerating these results with the introduction of a new form of personalized advertising called shopping media which allows brands to engage shoppers where it matters most – at the point of purchase on the largest retail sites in world. RichRelevance is located in San Francisco, with offices in Seattle and London. For more information, please visit www.richrelevance.com.