RichRelevance Introduces RichPromo™: Dynamic Campaign Targeting for Retailers
Innovative offering helps retailers provide a more engaging shopping experience by delivering the most relevant campaigns (promotions, local deals, loyalty bonus offers) to target customer segments
San Francisco, CA – April 4, 2012 –– RichRelevance®, the leading provider of dynamic personalization for the world’s largest retailers and brands, today launched RichPromo to provide state-of-the-art dynamic content targeting for retailers. The newest addition to the company’s integrated personalization suite, RichPromo, combines real-time consumer behavior analysis with a retailer’s existing customer segments to deliver the most relevant, appealing campaign content to online shoppers. Now, retailers can optimize their valuable web real- estate for overall engagement, revenue and conversions, while delivering a highly personalized and engaging shopping experience that respects consumers’ real-time behavior and past history with the brand.
“We have architected our personalization platform to enable retailers to efficiently maximize every pixel in concert with delivering a high touch customer experience in the online environment,” said David Selinger, CEO of RichRelevance. “With a single integration, retailers can now harness the power of our proven personalization suite and this campaign management targeting tool to dynamically reach consumers in a way that respects their brand and their shoppers’ experience.”
“There is a tremendous tension right now between consumers’ expectations of a consistent, personalized multichannel experience and the technical reality of large retailers who are managing literally hundreds of marketing and co-marketing campaigns, thousands of segments, and millions of site visitors,” said Darren Vengroff, Chief Scientist at RichRelevance. “RichPromo cuts through the complexity to allow retailers to effectively match every shopper to the right segment and serve the most relevant campaign content – with total control, in milliseconds, and to tremendous effect.”
Office Depot ranks #5 on Internet Retailer’s list of the largest online merchants, with annual online sales exceeding $4 billion a year. Said Rachel Davis, Senior Manager of Digital Marketing Promotions: “We’re excited about implementing the RichPromo functionality on our website, and we look forward to seeing positive results in terms of revenue and conversion.”
RichPromo: Features & Benefits
Powered by the enRich Personalization Engine, which serves 350 million tailored experiences each day for the world’s largest retailers, RichPromo combines the industry’s most advanced personalization technology with a user-friendly campaign management platform to dynamically deliver promotional content based on existing segments, previous shopping patterns, and real-time customer interest – at a scale of millions of site visitors. Targeted campaigns can now be created, optimized and modified without site releases or IT involvement, giving marketers and merchandisers unprecedented control over on-site promotions, as well as significant strategic insight into how to improve multichannel marketing efforts. Key capabilities include:
• Dynamic Content Targeting: RichPromo offers retailers the ability to run marketing and category specific campaigns that ensure the most relevant promotions are being shown to each shopper. By targeting promotions to shoppers according to their behavior and context within the site, RichPromo dramatically improves engagement and conversion. A highly flexible solution, RichPromo can be customized to target user segments predefined by the retailer, or by leveraging segments within the RichRelevance dashboard.
• Creative Optimization: Not only can a user target campaigns to the right customer in real-time, but the campaign can also be set to dynamically optimize for the best performing creative.
• Sophisticated Workflow and Interface: RichPromo allows retailers to automate online promotion workflow, enabling marketers to target the right audience, merchandisers to coordinate products, creative teams to upload assets and business leads to oversee the whole process all through one interface.
• Campaigns Defined by Marketing Channel: RichPromo allows retailers the ability to quickly and easily develop a campaign-specific landing page that is tailored to match the creative imagery and messaging of the campaign, complete with products that are eligible for the promotion.
• Insights and Analytics: RichPromo offers detailed reports for the entire site or individual campaigns, including placement views, click-through-rate, revenue, average order value and more. Data can be easily exported for easy reporting.
RichPromo features real-time behavioral analysis and self-tuning optimization based on the best performing algorithms, a technology known as ensemble learning. RichPromo provides control over marketing campaigns in a way that is scalable for any volume of traffic and able to support peak loads (Black Friday, Cyber Monday, etc.).
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.