Every once in a while in most Web surfers’ lives, a suggestion pops up on the screen that leads them to wonder: How did they know that about me? The moment can seem magical, and a bit creepy.
eCommerce industry veteran to lead RichRelevance’s efforts in helping online retailers reach shoppers across the web
San Francisco – July 13, 2009 – RichRelevance™, the leading provider of next-generation personalization and product recommendation tools for enterprise-class eCommerce sites, today welcomed online retail industry veteran Jake Bailey as Head of Advertising. Bailey comes to RichRelevance from Overstock.com, where he was Director of International Business and Director of Marketing. In his new role, Bailey will lead RichRelevance’s new advertising division, helping customer-centric retailers boost re-interception rates and achieve higher engagement, increased conversion and stronger customer loyalty.
“Jake is one of those rare people with a sixth sense about online retail; he really ‘gets’ what works and what doesn’t in eCommerce,” said David Selinger, CEO of RichRelevance. “Jake’s many years of marketing experience at Overstock.com, as well as his thought leadership in the online retailing space, will be a huge asset to our customers as they continue to successfully navigate the white waters of e-commerce growth. We’re thrilled to welcome someone of Jake’s caliber and experience to the RichRelevance team.”
While at Overstock.com, Bailey launched the online retailer into 34 countries, and expanded the marketing department to 70 people while simultaneously managing over $300M in direct revenue. Bailey managed lead generation and Overstock.com’s 60,000-strong affiliate program, and drove business development for the merchandising department.
“There aren’t many companies in the eCommerce industry that are exciting and innovative enough to get me to pack up my family and move to San Francisco, but RichRelevance is truly on the cutting edge of online retail technology – helping retailers like Wal-Mart, Sears, and Burton boost sales and drive long-term customer value,” said Bailey. “The team at RichRelevance is world-class, and the products we’re building are ‘game-changing’ for the industry.”
A recognized thought leader in the eCommerce industry, Bailey is committed to creating new and innovative customer-driven marketing channels that help retailers succeed. He is a participating member of the Shop.org content committee, and has spoken at premier industry events including the Global E-Commerce Summit, Shop.org Strategy and Innovation Forum, eTail, Linkshare Symposium, and Affiliate Summit. Bailey joins several other recent hires at RichRelevance, which has more than tripled its staff in the last year, attracting top talent with experience at leading Internet and eCommerce companies including Amazon.com and PayPal.
About RichRelevance
RichRelevance is the leading provider of next-generation personalization and product recommendation tools for enterprise-class eCommerce sites, including Sears.com and Walmart.com. The company’s suite of SaaS-based offerings, including RichRecs™, RichMail™, and MyRecs™, are easily integrated and drive a range of key performance indicators by enhancing the entire shopping lifecycle, from interception through engagement to re-interception. Built on the enRICH™ platform, RichRelevance products offer robust merchandiser control and employ over 30 different recommendation types with cross-placement optimization and a closed-feedback loop to display relevant, clearly-explained product recommendations. Founded and led by the former head of Amazon’s Personalization R&D team, RichRelevance is headquartered in San Francisco.
Personalization and product recommendation systems vendor richrelevance has named Jake Bailey head of advertising. Prior to his new position, Bailey was director of international business and director of marketing at Overstock.com Inc., No. 29 in the Internet Retailer Top 500 Guide.
Bailey will lead richrelevance’s new advertising division, working to help retailer clients achieve higher engagement, increased conversion and stronger customer loyalty.
Have you noticed that, when showing cross-sells and upsells, many ecommerce sites hijack you off the page you’re looking at to view the suggested item, often with no way back to the other page without hitting “back?” Surely this is not the most usable way to suggest products and improve merchandising conversion rate.
Continue reading at Get Elastic
http://www.getelastic.com/display-product-recommendations/
One year after publicly launching with Sears.com as its first enterprise-class customer, RichRelevance is serving over 100 million recommendations a day across over 30 retail websites including Walmart.com
San Francisco – June 22, 2009 – RichRelevance™, the leading provider of next-generation personalization and product recommendation tools for enterprise-class eCommerce sites, today announced that is has achieved unmatched growth over the past year. The company, which emerged from stealth with a public launch announcing Sears.com as its first enterprise-class customer in June 2008, has now served more than 20 billion recommendations on over 30 sites, and currently serves more than 100 million recommendations each day. This has translated into channeling hundreds of millions of dollars of revenue for its customers through its enterprise-class enRICH™ personalization platform. The company announced Walmart.com as a client earlier this month, and is now the only personalization provider to successfully serve two of the top 10 online retailers.
“RichRelevance was built from the ground up by eCommerce experts to deliver real results for the world’s largest retailers,” said RichRelevance founder and CEO David Selinger, who formerly led personalization R&D at Amazon.com. “Over the past year, we’ve rapidly grown our company and added innovative new products to make sure we continue to raise the bar in personalization. At a time when every purchase counts, our growth is a testament to the strength of our personalization technology to meet the needs of shoppers, and drive real sales growth for retailers.”
JupiterResearch found that nearly half of all online shoppers (48%) plan to spend less this year, but a majority of those reluctant to make certain purchases (61%) can be positively influenced by online shopping resources like personalized recommendations. In the last year, over 30 retailers including large retailers such as Sears and brand-name niche retailers such as VitaminShoppe and Burton Snowboards have implemented RichRelevance technology. RichRelevance recently launched an Xtreme Personalization™ campaign to help retailers realize the benefits of higher engagement, increased conversion and customer loyalty with truly next generation personalization tools created by retail experts from Amazon.
Justin Olson, head of eCommerce for Burton Snowboards, has seen how personalized recommendations powered by the enRICH platform make a dramatic impact on sales. In a recent Forbes article, Olson said using RichRecs™ on-site recommendations from RichRelevance to steer customers toward relevant Burton merchandise from previous seasons doubled sales for the fall and winter product line. What’s more, Olson reports that overall sites sales jumped 73% year-on-year after implementing RichRecs.
Over the past year, RichRelevance has rapidly expanded its team, technology and infrastructure to best support its retail partners. Highlights include:
Expanded Product Suite
Over the past 12 months, RichRelevance has built out an enterprise-grade SaaS product suite based on the enRICH platform that delivers rich, relevant customer experiences and increased profits for retailers. Products include:
- RichRecs: Personalized product recommendations for product, category, cart, purchase complete, home and search pages
- RichMail™: Personalized product recommendations in email
- MyRecs™: Individual, personalized page of relevant product recommendations
enRICH is the only personalization platform on the market that leverages multiple recommendation approaches including collaborative filtering, personalization, analysis of current and past individual and “crowd” shopping behaviors, cross-placement optimization and a closed feedback loop to deliver the most relevant recommendations for each shopper at every moment. Automatic “competition” among the different strategies ensures the most accurate product recommendations are delivered in real time throughout the entire online shopping lifecycle. The groundbreaking enRICH platform also includes state-of-the art merchandising tools to help retailers fine-tune their product merchandising strategies.
Investment in Ironclad Infrastructure
In just one year, RichRelevance launched several new data centers, bringing the total to five fully-redundant and geographically-distributed data centers across the US. RichRelevance delivered 100% uptime during the holiday 2008 season, and the average response times for page loads is under 0.1 second.
Team Expansion
During the last year, RichRelevance more than tripled its staff, attracting top talent with experience at leading Internet and eCommerce companies such as Amazon.com, CleverSet, Microsoft, CVS.com and Redfin.com. Key hires include Tyler Hoffman as Vice President of Sales, who previously spent seven years building and running PayPal’s enterprise sales team; Todd Pearson, former Vice President of Sales at PayPal, as Chief Customer Officer; Darren Vengroff, former Principal Engineer at Amazon.com, as Chief Scientist. In May, RichRelevance was voted the #1 “Best Place to Work” in the 25 – 50 employee category by the San Francisco Business Times.
About RichRelevance
RichRelevance is the leading provider of next-generation personalization and product recommendation tools for enterprise-class eCommerce sites, including Sears.com and Walmart.com. The company’s suite of SaaS-based offerings, including RichRecs™, RichMail™, and MyRecs™, are easily integrated and drive a range of key performance indicators by enhancing the entire shopping lifecycle, from interception through engagement to re-interception. Built on the enRICH™ platform, RichRelevance products offer robust merchandiser control and employ over 30 different recommendation types with cross-placement optimization and a closed-feedback loop to display relevant, clearly-explained product recommendations. Founded and led by the former head of Amazon’s Personalization R&D team, RichRelevance is headquartered in San Francisco.
San Francisco – June 9, 2009 – RichRelevance™, the leading provider of next-generation personalization and product recommendation tools for enterprise-class eCommerce sites, today announced it has integrated RichRecs™ product recommendations online at Walmart.com (www.walmart.com). Shoppers now enjoy an enhanced shopping experience with personalized product recommendations as they browse through the site. A variety of recommendation types based on individual and group shopping behavior adjust in real-time to ensure the most relevant products are just a click away.
RichRecs was initially implemented at Walmart.com in the fall of 2008 in time for the busy holiday season. Following a smooth and successful implementation, RichRelevance delivered 100% uptime throughout Q4. “We’re thrilled to partner with the online store of the world’s largest retailer,” said David Selinger, CEO of RichRelevance. “RichRecs has performed flawlessly at Walmart.com, especially during the crucial holiday season.”
RichRecs, the only SaaS-based personalized recommendation solution developed exclusively for retailers, is built on RichRelevance’s patent-pending enRICH™ platform. The enRICH platform delivers sustained sales lift by presenting the most relevant products for cross-sell and upsell throughout the shopping experience. In concert with robust merchandiser controls, enRICH recommendation models adapt in real-time, responding to continually changing individual and crowd behaviors.
About Wal-Mart Stores, Inc. (NYSE: WMT)
Every week, millions of customers visit Walmart Stores, supercenters, Neighborhood Markets, and Sam’s Club locations across America or log on to its online store at www.walmart.com. The company and its Foundation are committed to a philosophy of giving back locally. Wal-Mart (NYSE: WMT) is proud to support the causes that are important to customers and associates right in their own neighborhoods, and last year gave more than $296 million to local communities in the United States. More information about Walmart can be found by visiting www.walmartstores.com. Online merchandise sales are available at www.walmart.com.
About RichRelevance
RichRelevance is the leading provider of next-generation personalization and product recommendation tools for enterprise-class eCommerce sites, including Sears.com and Walmart.com. The company’s suite of SaaS-based offerings, including RichRecs™, RichMail™, and MyRecs™, are easily integrated and sustainably increase sales by 5-30% while enhancing the overall shopping experience. Built on the enRICH™ platform, RichRelevance products offer robust merchandiser control, are exclusively retailer focused, and employ over 30 different recommendation types with cross-placement optimization and a closed-feedback loop to display relevant, clearly-explained product recommendations. Founded and led by the former head of Amazon’s Personalization R&D team, RichRelevance is headquartered in San Francisco.