RichRelevance’s recent mobile study was cited on Smart Money’s “10 Things Your iPad Won’t Say”
Apple users tend to be bigger spenders than other tablet owners — they forked over an average $123 in purchases on their iPads and iPhones, compared to an average $101 spent by Android users, according to a separate survey by RichRelevance, a personalized product recommendation company.
The portability of the iPad, combined with the overall pleasant browsing experience allows for more instant gratification, says Darren Vengroff, chief scientist for RichRelevance. “There’s no remembering to go to the mall on the weekends to buy those jeans you liked,” he says. People tend to use their tablets in relaxed environments like their homes, which might cause them to spend more, according to a report by Adobe Digital Index, which found that tablet users spend 20% more per purchase than people shopping on computers. Tablet owners also tend to be more affluent than most online consumers, according to the report.
RichRelevance’s Chief Evangelist Jake Bailey shares his insights for marketers on iMedia Connection.
How often have you heard the phrase “reaching the right person, at the right time, with the right message?” It is a phrase that represents the Holy Grail of media. A phrase that promises hope to advertisers suffering from sleep deprivation and battling visions of dancing mortgage ladies in their heads. A phrase that, up until recently, was more of a dream than a reality.
Over the last few years, with the increase of consumer spending online, ecommerce sites have cemented their role as a critical marketing channel for brands that want to reach online consumers at the highest point of brand consideration. This ability has quickly changed the face of advertising and is reshaping how brands engage shoppers in wholly new media opportunities on retail sites, which were previously relegated to MDF and trade funds.
Prestigious award recognises leading personalisation provider for delivering innovation, imagination and uniqueness in its approach to e-commerce
READING, UK –March 14, 2012 – RichRelevance®, the leading provider of dynamic personalisation for the world’s largest retailers and brands, has won the 2012 award for Innovative Technology at the prestigious Marketing Innovation Awards, held at MI EXPO in London and hosted by leading digital training network, The Knowledge Engineers. The Awards, now in their second year, recognise the most innovative brands, agencies and technologies which are set to shape the industry for the coming year.
The Innovation Council judged the Awards and was comprised of high profile and respected industry experts from companies such as YouTube, the Internet Advertising Bureau, Viadeo and Interactive Services. Winners were judged on the following criteria: concept of innovation, imagination and uniqueness, commercial feasibility, market perception and achieved results.
“RichRelevance deservedly won the Innovative Technology category; their fantastic personalisation engine means online shoppers not only have a better experience but tend to spend more online as a result”, said Niall Mckinney, Founder & CEO, The Knowledge Engineers.
Founded and led by David Selinger, the e-commerce expert who helped pioneer personalisation at Amazon.com, RichRelevance delivers in excess of 350 million recommendations to online shoppers each day.
RichRelevance’s Shopping Media, a revolutionary new approach to personalised advertising, now complements its existing e-commerce personalisation strategies, allowing brands to message to shoppers when it matters most on premium retail sites.
Shopping Media is centred on the idea that leading retail sites attract millions of consumers each month, which presents a huge opportunity for brand advertisers who want to engage consumers at the moment of greatest purchase intent. Adverts are then delivered to customers via the enRICH Personalisation Engine, a state-of-the-art platform for the next generation of e-commerce.
enRICH simultaneously deploys segmentation, product similarity, ensemble learning, and collaborative filtering to deliver a superior personalised user experience on a retailer’s website. It enables retailers to integrate data from offline transactions with existing data on individual and group behaviour in order to deliver more relevant recommendation types. As a result, the context and message of the adverts are directly relevant to the shopper’s goals and behaviour, enhancing the purchase process and increasing the likelihood of a sale.
RichRelevance has delivered more than £2 billion in attributable sales for its clients to date, and is accelerating these results with Shopping Media. By combining the best of highly relevant advertising with the reach and scale of the world’s largest retail sites, Shopping Media drives brand engagement and sales while delivering a new revenue stream for retailers. Leading retailers have seen a measurable increase of 60-100% in sales lift for the advertised brand’s products as a result of Shopping Media campaigns on their sites.
“We are delighted that Shopping Media has won the Innovative Technology of the Year award,” said Darren Hitchcock, VP of UK and European Territories. “The award is testament to our success and proves our commitment to our clients to provide them with real actionable insight into the customer’s online shopping experience”.
About RichRelevance
RichRelevance powers personalised shopping experiences for the world’s largest and most innovative retail brands, including Walmart, Sears, John Lewis, Marks and Spencer and others. Founded and led by the e-commerce expert who helped pioneer personalisation at Amazon.com, RichRelevance helps retailers increase sales and effectively monetise site traffic by providing the most relevant products, content and offers to shoppers regardless of the channel in which they are shopping. RichRelevance is headquartered in San Francisco, with offices in New York, Seattle, Boston and London. For more information, please visit www.richrelevance.co.uk.
New report digs into the right tools to define, find and reach the right online consumer at the right time in the right context
San Francisco, CA – Mar. 13, 2012 –– RichRelevance®, the leading provider of dynamic personalization for the world’s largest retailers and brands, today released a new whitepaper, Finding Your Audience, to help advertisers put a stop to wasted impressions in order to impact the consumer on their path to purchase.
The report examines what the rise of mobile devices and resulting “ubiquity of screens” means for brands and offers concrete strategies to shift media investments to directly align with consumers as they shop and research products through multiple vehicles (online, social, mobile, flash sales, etc.). Finding Your Audience goes beyond theory to provide a step-by-step guide to define the right target audience, determine where and when to reach them, and pinpoint the method that will have the largest brand and sales impact.
The whitepaper also illuminates pitfalls with popular approaches such as third-party intent data, as well as industry ad servers. Key topics include:
• WHO is Your Audience: Defining “Who” Matters: Nearly half of in-store purchases today are influenced by online research (source: Google & IPSOS OTX, September 2010). Google and other search engines have found a way to insert themselves at the top level of “intent” within the shopping funnel, but Shopping Media goes to the point of sale to ensure that brands can target consumers when they are in the shopping mindset.
• WHERE is Your Audience: “Where” Do They Begin Their Path to Purchase? After defining a target audience, brands must target the right impressions that capture the greatest value. Targeting audiences on retail sites is richly contextual, precise and offers new opportunities through co-occurrence targeting and adjacencies of complementary categories.
• WHEN to Reach Your Audience: Timing is Everything: Beyond owning impressions in your brand’s category, the “when” of targeting an audience involves attacking the points of intent within retail such as visits brand’s product pages, keyword searches for, add-to-cart impressions, and impressions that can capture consumers with previous relevant session behavior.
• HOW to reach your audience: Targeting is pointless without the right vehicle for execution. To ensure the highest ROI, an ad server must be able to understand retail. When buying impression, brands must be able to integrate personalization and retailer promotions within an ad campaign, as well as do things like “target my ads to anyone that has put my products in their shopping cart” or “buy all impressions for people that have purchased my products in the last 30 days.”
“A consumer’s shopping mode can be turned on at any moment, from anywhere – in bed with an iPad, on the bus, or waiting in line at the store,” said Jake Bailey, Chief Evangelist at RichRelevance. “The old rules of media buying no longer apply and brands are under tremendous pressure to find their target market when and where it matters most. Technology is changing advertising today in countless way, but one thing is certain: It’s always best to engage consumers while they are shopping and researching products, and the brands that do will be the ones that win.”
AboutRichRelevance
Over 350 million times per day, RichRelevance is powering the personalized shopping experiences for consumers shopping the world’s largest and most innovative retail brands like Walmart, Sears, Target, Marks & Spencer and John Lewis. Founded and led by the e-commerce expert who helped pioneer personalization at Amazon.com, RichRelevance helps retailers increase sales and customer engagement by recommending the most relevant products to consumers regardless of the channel they are shopping. RichRelevance has delivered more than $5 Billion in attributable sales for its retail clients to date, and is accelerating these results with the introduction of a new form of digital advertising called Shopping Media which allows manufacturers to engage consumers where it matters most—in the digital aisles on the largest retail sites in world. RichRelevance is headquartered in San Francisco, with offices in New York, Seattle, Boston and London. For more information, please visit www.richrelevance.com.
Technology pioneer, Amazon veteran and social-minded CEO stands out as one of the bright stars shaping future of e-commerce
San Francisco, CA – Mar. 7, 2012 –– RichRelevance®, the leading provider of dynamic e-commerce personalization for the world’s largest retailers and brands, today announced CEO David Selinger has been named one of the Bay Area’s brightest young superstars in San Francisco Business Times’ prestigious 40 Under 40 Award. Selinger was recognized for making a major impact on the Bay Area’s economy, community and culture and was named a standout leader for his innovation, business and technical acumen. Alongside executives from some of the biggest names in business and technology, Selinger will be honored at a ceremony on March 7 at the Levi Plaza Atrium in San Francisco.
“Leadership is not defined solely by business success,” said Selinger. “The executives that I admire extend their success to the broader community and provide opportunities for those around them to succeed. Community involvement and mentorship have always been a strong part of my leadership style and I’m glad to see this trait is shared – and recognized – in the place where we work and live. This award is a great honor and I am pleased to join such a prestigious group of local leaders.”
Selinger is widely recognized as a thought leader who is changing the face of e-commerce. His impact on the market began at Amazon.com where he led personalization R&D and increased the company’s annual profits by over $50 million. During his tenure at Amazon, he was credited for setting the industry standard for personalization and innovating in new forms of monetization.
As co-founder and CEO of RichRelevance, his technological innovation and leadership enables clients like Walmart, Target and Sears to go beyond Amazon.com to deliver personalized shopping experiences. To date, RichRelevance has delivered over $5 billion in attributable sales for its retail clients. Selinger’s latest innovation is a revolutionary new form of digital advertising called Shopping Media, which allows manufacturers to engage shoppers where it matters most – in the digital aisles on the largest retail sites in world. Brands like Colgate, P&G, AT&T, Verizon, Toyota and Cisco are rapidly adopting Shopping Media and Advertising Age recently credited the company as an ‘online shopper-marketing juggernaut’.
Aside from his ecommerce leadership and pioneering, David is a generous philanthropist, volunteering his time and know-how to many causes worldwide. David serves as a Board Member for Family Giving Tree and Potential Energy (formerly the Darfur Stoves Project) and as an Advisory Board Member for Fostering Change for Children and Solace International. He also volunteers his time as an advisor with New Seed International in Ghana.
About 40 Under 40
The San Francisco Business Times’ annual 40 Under 40 Award is selected by the publications editorial staff, based on a nominees leadership in the local business community, market and community involvement. The winners represent the most influential young leaders across the spectrum of Bay Area businesses – all under 40, and all high achievers for their companies, industries and the community. In the 2012 class are CEOs, entrepreneurs and top executives making a difference now, and certain to do so well into the future.
Additional Resources:
- More information on David Selinger is available here.
- More information on RichRelevance is available here.
- Connect with RichRelevance on Facebook and Twitter for updates and news.
AboutRichRelevance
Over 350 million times per day, RichRelevance is powering the personalized shopping experiences for consumers shopping the world’s largest and most innovative retail brands like Walmart, Sears, Target, Marks & Spencer and John Lewis. Founded and led by the e-commerce expert who helped pioneer personalization at Amazon.com, RichRelevance helps retailers increase sales and customer engagement by recommending the most relevant products to consumers regardless of the channel they are shopping. RichRelevance has delivered more than $5 Billion in attributable sales for its retail clients to date, and is accelerating these results with the introduction of a new form of digital advertising called Shopping Media which allows manufacturers to engage consumers where it matters most—in the digital aisles on the largest retail sites in world. RichRelevance is headquartered in San Francisco, with offices in New York, Seattle, Boston and London. For more information, please visit www.richrelevance.com.
Retailers act swiftly to engage consumers armed with smart phones and other mobile devices. ANA Magazine talks to Diane Kegley, RichRelevance CMO.
“Mobile is becoming the cornerstone of how retailers and brands engage with consumers,” says Diane Kegley, CMO at RichRelevance, a San Francisco-based company that analyzes online shopping patterns. “From the consumer standpoint this is being driven by what we call the ubiquity of screens. Consumers are neither online or offline, they are just always connected.”