RichRelevance doubles office space with new headquarters in the heart of San Francisco’s SOMA tech community
San Francisco, CA – Mar. 30, 2012 –– RichRelevance®, the leading provider of dynamic e-commerce personalization for the world’s largest retailers and brands, today announced it will open its new global headquarters in San Francisco’s SOMA neighborhood in July 2012. The new 28,000-square foot headquarters, located at 633 Folsom Street, combines central proximity along with a state-of-the-art work environment in the center of San Francisco’s vibrant technology community.
“Our company touches one-third of all e-commerce traffic happening today, and we are continuing to expand our footprint across retail and more recently the digital branding channel,” said David Selinger, Founder and CEO of RichRelevance. “As we grow, driven by our clients’ success and our employees’ passion for solving the most interesting challenges in technology today, we are excited to take on a great new space in SOMA that offers the best work environment, as well as room for continued growth.”
The San Francisco headquarters will serve as the primary location for RichRelevance’s two business units: RichRelevance Advertising and RichRelevance Retail and their accompanying technology, development, sales, marketing, product and operations teams. The company selected Gary Koshaba and Jessica Wyant of RMW as the space’s architects to create an open environment that fosters cross-functional collaboration and teamwork.
The new headquarters significantly expands RichRelevance’s existing office space as the company continues to rapidly grow its US and European operations. In the last year the company signed a strategic partnership with CNET to take over its Intelligent Cross SellTM recommendations offering and most recently acquired Searchandise as part of its strategic expansion of Shopping Media. A two-time winner of San Francisco Business Times’ “Best Places to Work” award, the company also maintains offices in Seattle, New York City, Boston and London to best serve its client base which includes world-class retailers like Walmart, Sears, Target, and Marks & Spencer, John Lewis, and innovative brands like Toyota, Colgate, P&G, SC Johnson, and Verizon.
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.
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.
Let’s cut straight to the point, even though digital ad targeting has become significantly more advanced over the past few years, brand advertisers have significantly less clarity into the tools that help them reach and communicate with their most important consumers: those who are active and in-market for their particular product or brand. So, not only do brands have to deal with the fact that there are a number of entirely new marketing channels, they also have to deal with ad offerings that are confusing the market about whether or not they’re maximizing their advertising ROI. With that said, it’s no wonder to me that ad spend is still out of whack, and is largely being spent on TV. If we can’t provide the right mechanisms in the digital world, then brands will miss out on the huge opportunity to define, locate, and empower their most important customers.
We released a white paper today to help brands with this battle. Retailers sit at the center of facilitating this next digital advertising revolution, and the results we’ve seen thus far speak for themselves. This paper speaks to the WHO, WHERE, WHEN and HOW to connect with consumers, bringing them that much closer to establishing an effective targeted campaign that delivers results, but without wasting budget on unnecessary ad impressions. Every ad impression counts, and it’s the ad industry’s duty to ensure brand advertisers get the greatest return on money spent.
Give the paper a read, and take some time to consider the following: As long as there’s e-commerce, personalized brand advertising within the context of the retail environment is the most powerful, relevant method to effectively target your preferred audience.
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.