The Personalization Roundup is an ongoing blog series featuring the most evocative news, articles and blogs curated by Baynote each month on the topic of web personalization. For this month’s roundup, we’ve combed the web to once again bring you the latest and greatest on the personalization revolution.
There’s a chill in the air and leaves on the ground as we say goodbye to October and hello to November in our latest roundup. With Halloween just around the bend, what better time to look at how personalization is helping retailers offer treats, not tricks to shoppers? Just look at our exciting new partnership with Crowd Factory; by integrating Baynote’s personalization software with Crowd Factory’s leading social marketing platform, for the first time ever, merchants are able to deploy social offers in line with real-time buyer intent. Considering the recent buzz surrounding daily deals and social commerce, this partnership is right on time!
This month, the New York Times and Huffington Post weighed in on the current state of daily deals. Meanwhile, social commerce grabbed headlines as retail juggernaut Wal-Mart announced plans to reinvent online shopping with the introduction of WalmartLabs, which hopes to model itself after Facebook and insert social into the shopping experience. For these personalization updates and more, read on:
Coupon Sites Are a Great Deal, but Not Always to Merchants, New York Times—The daily deal business model burst onto the market just a few short years ago, but now that the fireworks are over and the smoke has cleared, what’s left? In taking a hard look at the daily deal marketplace, David Streitfield indirectly highlights the importance of a new modality that will help merchants offer the right deals to the right customers at the right time. Could real-time personalization be the solution?
Growing Pains: Frenzied Daily Deal Market Starts To Mature, Huffington Post—“Daily Deals are here to stay” says Robert Ball, CFO of RapidBuyr, who makes an interesting, if not strangely familiar argument about just what it will take for daily deal sites to succeed outside of the bubble: “Know your audience, what makes them tick and find the best way to reach them.”
Retail giant’s @Walmartlabs plans to reinvent online shopping with ‘social commerce’, The Globe and Mail—Wal-Mart is banking on social commerce to reinvent its current shopping platform and position itself at the forefront of the social and mobile commerce industries. One prototype it’s working on is an in-store Twitter that allows people to communicate in real-time with other shoppers and seek their opinions or assistance. The hope is that this in-the-moment, real-time and personalized feedback will enhance their overall shopper experience.
Macy’s Ecommerce Solution Tests True Fit Technology, ZippyCart—Another retail behemoth made bold moves this month, when Macys announced the integration of a new ecommerce solution that offers personalized styling to buyers based on their actual physical statistics and buying history. With 10% of all clothing and accessory purchases are currently being made online, analysts believe that if buyers respond well to this new innovation, it could very well change the landscape of ecommerce.
Web Engagement: Should Your Recommendation Engine Work with Real-Time Data?, CMSWire—Arjen van den Akker of Alterian stresses the importance of allowing recommendation engines to work with real time data in today’s marketplace in order to provide consumers with the timeliest and most appropriate recommendations. If that sounds familiar, it may be because you’ve heard it referred to by Baynote as ‘Personalization 3.0’: the latest frontier in recommendation software and where we’re planting our flag.
Search Personalization and the User Experience, Search Engine Watch—David Harry lifts up the hood and gives readers an up-close look at the personalization software powering today’s search engines while addressing some of the specific challenges that search engine developers face today. He also offers up one of the most succinct arguments for personalization we’ve read to date: “If you know your history and have an intimate understanding of the present, you will most certainly be positioned well for the future.”
Oracle to Buy Endeca, Internet Retailer—Lastly, news of Oracle’s acquisition of search and online marketing technology vendor Endeca made waves this month. Experts say the acquisition represents Oracle’s attempt to become a major player in the e-commerce market, and underscores the importance of creating extremely relevant experiences for customers online.