By Doug Bryan, Data Scientist, RichRelevance.
The oldest and largest marketing data aggregator, Acxiom, recently opened up its database to let individuals see and edit the data that the company has collected about them. Data scientists and marketers have been viewing the data and, often, chuckling at its inaccuracy. Acxiom admits that up to 30% of its data is wrong, and yet it’s the industry leader. How can Acxiom make so much money with data that’s only 70% accuracy? Simple: Most marketers’ data is worse, and in the land of the blind the one-eyed man is king.
Home improvement retailer leverages data-driven personalization to deliver recommendations based on consumer behavior, likes and profile data
San Francisco, CA – Sept. 12, 2013 – RichRelevance, the global leader in omni-channel personalization, today announced that Build.com has implemented the company’s RichRecs personalization suite to deliver highly relevant and curated experiences at every possible customer touch point. The implementation across seven sites, which was completed in a record eight days, enables the retailer to leverage data to present tailored recommendations, offers or content that provides a more helpful, intuitive customer experience for shoppers across channels, while driving sales and average order value (AOV) for Build.com, ranked #80 on the Internet Retailer 500.
“Personalization plays a key role in supporting our goal of being a trusted resource for our customers – regardless of where, when and how they choose to shop,” said Brandon Proctor, VP of Marketing at Build.com. “Great personalization leverages data to fuel an intuitive and helpful shopping experience in service to our customers as they move throughout a site. That’s the true power of personalization—when smart, behavior-based algorithms can pave the way from inspiration to installation. RichRelevance understand this promise and the emphasis we place on our customers’ satisfaction, and has been instrumental in making the experience better for our customers online.”
As the third-largest online home improvement company, Build.com leverages RichRelevance’s technology to present multiple recommendation placements on pages throughout all of its sites—home, category, item and cart pages, as well as in email.
Build.com had previously worked with two other vendors – one that had an add-on personalization solution as part of its ecommerce package, and another that was a stand-alone personalization vendor. While the first vendor integrated seamlessly with the company’s existing analytics platform, it required a major commitment of time and energy for customization from the internal team. The second vendor lacked the functionality and capability to customize and build out segments, or to create the frictionless personalized experience Build.com was searching for.
Ultimately, Build.com made the decision to partner with RichRelevance based on the sophistication and large number of RichRecs’ algorithms (100+) and the system’s massive customization abilities. “RichRelevance has customization abilities that are 4-5 times that of competitors, and has targeting capabilities built into the solution—with no separate vendor needed— and that was very appealing. The system had the equivalent of a lot of hard coding we were already doing. The fact that copy could be swapped out by our merchandising team and there was no heavy JavaScript required was ideal, ” says Proctor.
“Build.com has a deep commitment to its customers and has leveraged technology and data to deliver an experience that rivals that of an in-store shopping journey,” said Diane Kegley, CMO of RichRelevance. “We are excited to work hand-in-hand with Build.com to deliver personalization that builds and maintains lasting customer relationships.”
About RichRelevance
RichRelevance is the global leader in omni-channel personalization. More than 160 international companies use RichRelevance to turn data into actionable insight, which delivers the most relevant experience for consumers as they shop across web, store and mobile. RichRelevance drives more than one billion decisions every day, and has delivered over $8 billion in attributable sales to its clients, which include Walmart, Marks & Spencer and Cdiscount. Recently, the company opened its cloud-based platform to allow clients to easily merge disparate data sources and build real-time applications tailored to their specific business needs. RichRelevance is headquartered in San Francisco and serves clients in 40 countries from 10 offices around the globe. For more information, please visit www.richrelevance.com
Internet Retailer Ranks RichRelevance #1 for Personalization
Editorial board names RichRelevance as stand-alone leader based on client revenue
San Francisco, CA – Aug. 29, 2013 – RichRelevance®, the global leader in omni-channel personalization, today announced that it has been recognized by Internet Retailer magazine for its impact on ecommerce sales. RichRelevance was named the #1 vendor in the personalization category based on a combined $42.24 billion in online sales across its clients in the Internet Retailer 1000. According to the ranking, RichRelevance outperformed the #2 and #3 vendors combined and extended its lead over the competition in a year marked by innovation, client success and the acquisition of European merchandising platform leader Avail.
“RichRelevance ranks #1 for personalization in both the Internet Retailer 1000 and EU250 because of the powerful advantages we provide for larger retailers,” said David Selinger, CEO of RichRelevance. “As data and personalization continue to re-shape the retail experience, our clients rely on us to deliver the strategies, capabilities and approaches that unlock new value for their business – and their customers. We’re pleased to hold steady at #1 as we innovate the next era of data-driven retail hand-in-hand with the largest retailers in the world.”
With customers in 40 countries worldwide, RichRelevance serves over 1 billion personalized shopping experiences a day for the world’s largest retailers and brands, including Walmart, Sears, Target, Marks & Spencer and John Lewis. To date, the company has delivered more than $8 billion in attributable sales for its retail clients.
About the Internet Retailer Top Vendor Guide
Now in its second year, the Internet Retailer Top Vendor Guide ranks the leading suppliers to the Top 1000 retailers (as identified in the Internet Retailer Top 500 and Second 500 guides). More information on this year’s ranking will be available at InternetRetailer.com.
About RichRelevance
RichRelevance is the global leader in omni-channel personalization. More than 160 international companies use RichRelevance to turn data into actionable insight, which delivers the most relevant experience for consumers as they shop across web, store and mobile. RichRelevance drives more than one billion decisions every day, and has delivered over $8 billion in attributable sales to its clients, which include Walmart, Marks & Spencer and Cdiscount. Recently, the company opened its cloud-based platform to allow clients to easily merge disparate data sources and build real-time applications tailored to their specific business needs. RichRelevance is headquartered in San Francisco and serves clients in 40 countries from 10 offices around the globe. For more information, please visit www.richrelevance.com.
By Diane Kegley, CMO, RichRelevance
When I started my tech career 20 years ago, I was repeatedly warned that I was entering a ‘man’s world’. I have, however, always firmly believed that a successful career in technology is due to talent, regardless of gender.
My first introduction to the technology industry was at enterprise software firm Sybase. Here, I had to convince them that a new attitude and fresh approach could bring dividends to the technical arena, and then all I had to do was prove it! On my very first business trip, I studied all the technical manuals I could find, because I wanted to understand the software from the inside out. If I could understand the market and the customer’s mindset, I could market the product much more effectively.
It’s not just pure-plays leading the way in ecommerce evolution, bricks-and-mortar retailers are fast becoming bonafide etail experts. Matthew Valentine outlines the key trends emerging.
The ecommerce channel continues to evolve as shoppers’ use of technology develops. Here we outline five of the
key trends retailers need to know about now.
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Following its spring acquisition of recommendations engine Avail, ecommerce personalization and shopping media company RichRelevance has acquired the assets of data analytics startup Precog, for an undisclosed sum.
Founded by former Amazon exec David Selinger in 2006, San Francisco-based RichRelevance currently has close to 200 customers including Walmart, Target and Marks & Spencer. Precog CEO John De Goes, along with members of that company’s senior engineering team, have joined RichRelevance.
Darren Vengroff, chief scientist & VP of product at RichRelevance, also a former Amazon engineer, spoke to AdExchanger about the acquisition.
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