Interviewed on 4 Sep 09
Lisa Joy Rosner, Vice President of Marketing
MyBuys is the leading provider of personalized product recommendations for online retailers. Via a SaaS model, the company builds deep profiles based on each individual shopper’s behavior, then uses a patented portfolio of algorithms and real-time optimization to deliver the most relevant recommendations on the web and in all forms of email. MyBuys’ clients are increasing average order value by 45%, improving conversion rates by 90%, and boosting overall online revenue 10-30%. Premier retailers—including Restoration Hardware, Armani Exchange, Lancôme, Gaiam, Wine Enthusiast and Cost Plus/World Market—rely on MyBuys to deliver dynamic, personalized merchandising to their shoppers.
What unique selling points do you offer?
Technology-Our SaaS-based recommendation engine which uses a portfolio of algorithms that gets to know each individual shopper. We build deep profiles for everyone: we store every click they ever make in a customer preference vault so that our engine knows precisely what to offer. We also maintain a datastore that understands the merchandising heuristics and the associated attributes.
Model-We are a complete pay-for-performance model. We only make money when we make more money for our clients.
Describe the services you offer?
MyBuys delivers targeted upsells and crosssells to zones on our clients websites, unique email alerts, call centers, and other touch points too. We drive new top line incremental growth through personalization to the tune of 10-30% increases in total online sales, 45% increases in AOV, and 90% increases in conversion rates across our client base.
Describe your target market?
Online retailers of all sizes from 1,000 to over 1,000,000 SKUs.
How is your company planning for the future?
Our roadmap is constantly growing based on client feedback. We recently released personalized recs in transactional emails and personalizated landing pages. Next up, will be recs for the call center, direct mail and online ads all via a SaaS model.
What benefits can you offer your customers?
The first day we launch MyBuys, the client sees an immediate impact to sales – they start selling more. In aggregate, our clients are increasing average order value (AOV) 45%, conversion rates are up 90% and overall online sales is boosted10-30%. In addition, if they were manually merchandising prior to MyBuys, they are able to reallocate resources to other projects and save the IT and merchandising teams hundreds of man hours each month. Other benefits include more loyal happy customers.
How do you support your customers?
We do not charge them for implementation. We handle every facet of the alert service which drives a tremendous amount of revenue for our clients each week. We have a dedicated client success team and optimization team that makes sure that the engine performs perfectly for each client. We also facilitate the sharing of best practices between our clients.
