As our attention spans shrink by the minute, retailers are experimenting with different practices to reach a highly distracted customer. Retailers are not only battling each other but they are also competing with the myriad of distractions that surround our everyday lives. As retailers look for effective ways to reach their customers they must ensure that they provide personalized and appealing content to attract their customers. Personalized content not only reduces bounce rates, but also drives more relevance to customers and increases brand awareness. With this in mind, RichRelevance and Amplience launched our joint solution, Open eXperience Cloud (OXC).
Many personalization companies are tempted to use attributable sales as a metric for measuring the value generated by personalization. While it is important to have a healthy level of attributable sales to ensure your shoppers are engaging sufficiently with personalization, aiming to maximize attributable sales will ultimately result in degraded performance, and even a loss in revenue. That’s because the attributable sales metric does not take into account the impact of the following 3 phenomena: