Darren Vengroff to address Congress on deriving value from machine-generated data and to participate in a panel session on why the cloud is vital to big data
RichRelevance employees select company based on employee engagement, satisfaction and organizational health
Priceminister.com customers now receive relevant, meaningful product recommendations when they shop online, with a resulting 2% increase in conversion rate
Today, retail is all about engagement: learning what the consumer wants, while promoting products and messages — often without a selling mentality. And it is making everyone more social.
McKinsey’s Nora Aufreiter, senior partner in marketing and sales, and retail practices, says social media remains largely about discovery and advocacy versus transaction.
“Almost three quarters of consumers rely on social networks to guide purchase decisions, and photo-based interfaces like Pinterest, Tumblr, etc., have really driven engagement,” Aufreiter says, saying reports show significant increases in traffic and conversion when products are posted on these sites. “Social will continue to play a role in commerce, just not how it was first imagined.”
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With Sheryl Sandberg’s Lean In as a welcome backdrop, here’s how one Silicon Valley shop—RichRelevance, the one that pays me to be its chief marketing officer—fares in the challenge of gender parity. Right now, like most tech companies, we’re not even close to gender parity.
Our company’s leadership is 20 percent female. Our total employee statistics skew more male than female (79 women, 170 men). Those numbers are important because we plan to double in size this year, and we want to recruit a brilliant—and, ideally, diverse/balanced team—to launch our latest products, but right now male applicants far outnumber female applicants. According to our most recent Jobvite statistics, female candidates make up 25 percent of engineering and sales applicants; 30 percent of ad ops, client services, and science applicants; and a scant 3 percent of applicants in the IT department.
I’m laying out all our numbers to spark discussion about what we should be trying to do to encourage more young women to pursue science, technology, engineering and math (STEM) careers in the first place. After all, if they don’t want to get into these fields in the first place, there won’t be much leaning in actually going on.
As a tech firm, there are some things we can do to help fix the imbalance. But there are also things we just cannot do.
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As consumers continue to demand more personalized e-Commerce interactions, “retailers need to stand out from the crowd and find ways to deliver a unique, exceptional shopping experience,” said Deena Amato-McCoy, Research Analyst at Aberdeen Group, in a Retail TouchPoints feature series about personalization. “The best way retailers can achieve this is to personalize brand interactions to individual shoppers and groups that share similar preferences and/or demands.”
The new RichContent offering from RichRelevance, a provider of e-Commerce personalization strategies, helps retailers deliver these individualized experiences. RichContent uses multiple algorithms to assess e-shoppers’ specific interests based on clicks, searches, social network cues and more, then display the most relevant content in real time. This content includes preferred products, colors and styles; recommendations based on those preferences; videos; and other unique value propositions based on specific consumer behaviors.
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Darren Vengroff will join OMMA Data-Driven Marketing event to discuss new ways that brands and retailers are turning data into actionable insight