RichRelevance, which offers personalized product recommendations and sells advertising around them on websites for such retailers as Walmart Stores and Target, plans to acquire Searchandise Commerce, which sells the equivalent of search ads and creates virtual end-cap displays on e-commerce sites. The deal is intended to create a more comprehensive offering for online-shopper marketing.
Neither the terms of the deal, expected to close this month, nor the companies’ sales were disclosed. But RichRelevance said the combined companies will serve 10 of the 25 biggest retailers on the web, also including Sears. The company also said its Shopping Media platform serves personalized recommendations and advertising with more than 1.4 billion page views monthly and has delivered more than $3 billion in attributable sales for retail clients since its launch a year ago.
The deal combines companies in two of the fastest-growing segments of media and marketing in recent years: digital and shopper marketing.
Search is distinguishing factor in driving engagement for consumers on shopping sites, and the new combined media offering will drive increased conversion and sell-through for the world’s largest retailers and brands
RichRelevance’s VP for UK and Europe, Darren Hitchcock, is quoted in the “What the Experts Say” section of Internet Retailing’s supplement entitled “Digital Technologies, Analogue World.”
“Merchandising has an aspect of being about what the customer wants, but searchandising is often driven by metrics when it should be based on what is best or new or most appropriate for that customer.
Read Internet Retailing “Digital Technologies, Analogue Word” article
RichRelevance Chief Marketing Officer, Diane Kegley, is quoted in the “What the Experts Say” section of Internet Retailing’s supplement entitled “Searchandising & Recommendation”
“The three ways shoppers navigate online retail today are browsing the hierarchical categories, using the search box or discovering new products through personalised product recommendations. At this point in the purchase journey, the shopper is deeply involved in the process and very open to helpful suggestions. Increasingly online retailers are maximising the powerful moment by using algorithms that will present product recommendations that fit with the wider merchandising strategy, are highly likely to convert, and will drive sales.” – Diane Kegley, Chief Marketing Officer, RichRelevance
Read Internet Retail “Searchandising & Recommendation Supplement” article
Google have defined the ‘Zero Moment of Truth’ – the point at which a consumer starts researching a purchase online. Jake Bailey of RichRelevance offers best practices for CPG marketers seeking to optimise a vital moment in the relationship between brands, retailers and consumers.
The internet has changed the way consumers conduct pre-purchase research almost unimaginably in recent years. Recently Google christened this concept the ‘Zero Moment of Truth’ (ZMOT) – the moment a consumer researches a purchase online. To engage with a consumer who’s in ‘learning mode’ brands must supply her with real-time information. One of the most fundamental and effective ways to do that is to streamline your online merchandising strategy with the most influential e-commerce partners.
‘Tis the season! While most of us will be keeping pace with the busiest time of the year, I wanted to take a moment to remind us all why it is we all work so hard to give our customers the best possible shopping experience.
With all of the attention being paid to Occupy Wall Street and the ills of big business, it’s heartening to shine a little light on two new start up’s who are working hard to make the world a better place.
UK digital media site New Media Knowledge talks to RichRelevance Chief Evangelist Jake Bailey on how marketers can find success on their e-commerce sites below the mythical fold.
In 1994, when the Internet was in its infancy, renowned Internet strategist Dr Jakob Nielson argued that Web users paid much less attention to information not visible in the first screen view of a website. The term “below the fold” was born to highlight this area that was only visible after users scrolled down. Three years later Nielson added that scrolling was “no longer a usability disaster”, but the debate has raged amongst marketers ever since.