I’m thrilled to introduce today’s featured company on the Growthverse Spotlight: RichRelevance. I go way back with the founder of RichRelevance, David “Selly” Selinger, so naturally I was excited to see RichRelevance was part of the Growthverse. We had the chance to catch up with Chief Product Officer Mahesh Tyagarajan to hear some of his insights on marketing automation and the customer experience.
Last week over 200 in-store innovators from 120 enterprise retailers, gathered at Future Stores in the Victoria Park Plaza in London. The event is a ‘one-stop-shop’ for retailers seeking practical solutions to accelerate their in-store transformation projects from concept to reality.
For retailers large and small, it’s no longer a question of whether to personalize their customer engagement. The questions now revolve around how much personalization, and what kinds, are most effective. In essence, retailers need to “personalize” their personalization efforts, continuously adjusting and fine-tuning them to ensure they don’t cross the line that separates “helpful” from “creepy.”
Can a better user experience disrupt an industry? I don’t mean digital-only experiences like Angry Birds or FarmVille, but industries with physical assets and high marginal costs like taxis and 200,000 square foot stores.
I wanted to highlight a particularly interesting case study of RichRelevance customer, PriceMinister. The second most visited ecommerce site and leading marketplace in France, PriceMinister, part of the Rakuten Group, was looking for a personalisation platform to help improve their commercial performance and give them a competitive edge.
The usage of proximity-based beacons seems to have floundered since they were introduced in 2013. After reading this very interesting article about the Regent Street App, it is obvious why.
As competition increases more than ever in the digital space, retailers must provide a seamless personalised experience to engage shoppers. Drapers explore what some tech savvy retailers are doing with personalisation and how this is benefiting the customer experience of their shoppers.
E-retailers increasingly realize the importance of using data about their shoppers to connect on a personal level, but challenges persist.
Getting to know customers is easier than ever, even if most e-retailers never meet them. Consumers leave behind a mountain of data when they browse, buy or otherwise interact with a merchant online, and e-retailers can draw insights from that data to personalize future product recommendations and promotions to consumers’ interests, leading to sales and increased loyalty.