In two presentations, personalisation solution provider RichRelevance and US retailer Overstock.com will help retailers learn how to design, execute and achieve a successful personalisation strategy
London, U.K. – September 27, 2011—RichRelevance®, the leading provider of dynamic e-commerce personalisation for the world’s largest retailers today announced it will be presenting at Internet Retailing, the UK’s leading conference of online and multi-channel retailers. RichRelevance will discuss best practices for implementing a personalisation strategy, guidelines for vendor selection and why personalised recommendations are driving increases in average order value of up to 26%. Overstock.com, a RichRelevance customer, will also be presenting a case study at the event to highlight the challenges retailers face in managing customer data and the benefits a personalisation strategy has brought to the company.
Darren Hitchcock, vice president of UK and European territories, RichRelevance, said: “E-commerce personalisation has been widely adopted in the US, where it has proven to significantly increase profits. Now, retailers in the UK and Europe are taking notice, but many see implementing a personalisation strategy as a daunting task. At Internet Retailing, we aim to show how retailers can execute a personalisation strategy effectively and demonstrate the benefits that personalisation has delivered to our customer Overstock.com.”
Presentation Details:
What: The Path to Personalisation: Past, Present and Future
When: 11.20am GMT on Tuesday, 4 October 2011
Where: Room D, Novotel, Hammersmith, London
Who: Diane Kegley, CMO, and Darren Hitchcock, vice president of UK and European territories, RichRelevance
Why: Personalisation is increasingly playing a vital part in retail strategies because of its potential business value. With a multitude of options to choose from (build, buy, add-on) retailers need to begin to consider introducing personalisation into their retail site. RichRelevance Chief Scientist Darren Vengroff will discuss the personalisation options available to retailers, best practices in implementation of onsite and email recommendations as well as discuss RichRelevance technology and what to consider when choosing a vendor. RichRelevance will also share how retailers can play an unparalleled role helping to innovate in the personalisation space through RecLab—a project designed to enable academic researchers to code and run a variety of recommendation algorithms against live shopping traffic, without compromising trust and privacy. The opportunity to truly delight shoppers with personalised experiences via algorithmic improvements has never been more attainable for retailers.
What: Personalisation as a Revenue Generator
When: 12.20-12.50pm GMT on Tuesday 4th October
Where: Track 1: The Customer
Who: Sam Peterson, SVP, Technology, Website and Merchandising, Overstock.com
Why: A successful personalisation initiative can generate millions of pounds in attributable sales in the short term and strengthen relationships with consumers that increase their lifetime value. In his presentation, Sam Peterson will talk about the business benefits Overstock.com has achieved from leveraging customer insight to deliver a personalised user experience. He will also talk about how RecLab, a project designed to enable researchers to code and run a variety of recommendation algorithms against live shopping traffic on major ecommerce sites, is driving innovation in personalisation technology.
About RichRelevance
RichRelevance powers personalised 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 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 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 personalised 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.co.uk.
Rick Fawcett joins as Senior Vice President of Sales; Diane Kegley named as Chief Marketing Officer
San Francisco, CA – Sep. 22, 2011 –– RichRelevance®, the leading provider of dynamic e-commerce personalization, today announced two strategic executive appointments to drive the next phase of the company’s growth. Rick Fawcett joins RichRelevance as Senior Vice President of Sales. Diane Kegley, former Vice President of Marketing, will assume the role of Chief Marketing Officer. These executives will lead RichRelevance’s global sales and marketing team, expanding demand for the company’s retail and advertising offerings and accelerating adoption of Shopping Media.
“Over six years, RichRelevance has progressed from a small start up to the established market leader in enterprise retail personalization. Our top 5 clients, in aggregate, are 60% larger than Amazon.com and RichRelevance delivers 350 million recommendations a day,” said David Selinger, CEO of RichRelevance. “Diane and Rick’s expertise will play a large role as we build on this leadership to innovate the best in retail personalization and demonstrate how new approaches can yield big gains for retailers and advertisers alike.”
In his new role, Fawcett will oversee the global sales, sales operations and sales engineering teams. He will be responsible for driving the company’s growing revenues by forging new customer relationships among retailers, agencies and brand advertisers.
Kegley will continue to drive global branding and visibility for RichRelevance and its industry-leading product suite. She will also lead thought leadership initiatives around Shopping Media and other key market themes that directly impact the company’s clients and partners.
Both Fawcett and Kegley will report to CEO David Selinger.
Rick Fawcett, Senior Vice President of Sales
Fawcett brings 20 years of experience in sales executive roles including expertise in SaaS platforms, retail technology and digital media. Prior to joining RichRelevance, Fawcett was Senior Vice President of Sales for Origin Digital, which was acquired by Accenture in May of 2008. While at Origin Digital, Fawcett was tasked with overhauling and streamlining the company’s sales team, while decreasing sales costs and increasing deals. Fawcett discovered, managed and closed some of the company’s largest deals, including ESPN, CBS College Sports and XM Sirius Radio.
Before joining Origin Digital, Fawcett also served in senior sales positions at Vendaria, a creator of visual merchandising solutions; Colloquis, acquired by Microsoft in 2006; and WebCollage, a retail marketing solutions provider in product and brand publishing.
“RichRelevance is poised for hyper-growth as retailers and brand advertisers embrace personalization as the key to reaching shoppers who intend to buy,” said Fawcett. “I look forward to playing a key role in helping more brands leverage RichRelevance’s powerful personalization platform to increase sales and provide the best possible customer experience.”
Diane Kegley, Chief Marketing Officer
Since joining RichRelevance in 2008, Kegley has elevated the company’s leadership in its SaaS business from a new entrant to the established leader in ecommerce personalization. As VP of Marketing, she successfully led the marketing initiatives behind the company’s highly successful launch of enRICH for Brands and Shopping Media. She draws on more than 20 years of marketing, media and branding experience for companies like American Express, AOL, CNET, American Airlines, HP, Lockheed Martin and Sprint.
“I’m excited to continue this incredible journey at RichRelevance as we continue to innovate new approaches to personalization that bring us into new categories and markets,” said Kegley. “The industry is in the midst of a sea change when it comes to the way advertisers and retailers engage shoppers. Together, we are driving this transformation – and it’s an honor to work with RichRelevance’s executives and clients who represent the best in retail, technology and media.”
About RichRelevance
RichRelevance powers personalized shopping experiences for the world’s largest and most innovative retail brands, including Walmart, 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 $2.5 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 headquartered in San Francisco, with offices in New York, Seattle and London. For more information, please visit www.richrelevance.com.
Shoppers who land on retail sites through Facebook or Twitter are less likely to make purchases. Their conversion rates average 1.2% and 0.5%, respectively. Per average order, however, they spend more than those who come through Google. In fact, shoppers who originated from Twitter spend on average $121.33 — the highest average order value (AOV) of all, according to a recent study.
Consumers on average spent less online per order in August compared with the same month a year ago, though conversion rates remained virtually unchanged, according to data released today by RichRelevance.
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