Q&A: Alex Major, CEO, RedBrain
RTIH: Tell us about RedBrain.
AM: RedBrain is an online sales generation specialist, combining expertise in paid search with artificial intelligence to deliver incremental sales to retailers. We are dedicated to enabling retailers to better reach the world of customers that exist beyond their platforms while helping consumers easily find the products they want when shopping online. We use our knowledge of shopping services to track behaviours online and deliver leads to retailers on a cost per action (CPA) basis, where the retailer only pays when they make a sale.
RTIH: What was the inspiration behind setting the company up?
AM: The team behind RedBrain had been developing shopping discovery sites for around eight years and wanted to combine this expertise with the power of AI to deliver quality leads to retailers and connect customers with the products they are searching for.
RedBrain was, therefore born, out of affiliate shopping business ASAP Compare. Our aim is to use this approach to become the number one shopping discovery site in the world.
RTIH: What has been the industry reaction thus far?
AM: The industry reaction has been incredibly strong so far, and the future looks really promising. We are already working with some of the biggest names in online retail, including eBay and Walmart in the US and John Lewis, House of Fraser, Currys, Nike and Argos in the UK.
RTIH: What has been your biggest challenge/setback?
AM: One of the biggest challenges facing organisations such as ourselves is the way affiliate networks operate in the online retail space. Some of our biggest retail customers are not even aware that we are delivering sales to them because we work with the affiliate companies and we make our money via affiliate commissions. We would like a closer relationship with retailers in order to secure direct product data feeds that would enable us to deliver even better levels of sales.
RTIH: What are the biggest challenges facing the omnichannel retail sector right now?
AM: Developing a detailed understanding of different customer journeys and adapting digital marketing approaches in a personalised way is one of the biggest challenges facing the omnichannel retail sector.
Customer journeys vary greatly but it is still possible to spot patterns in terms of the behaviour that identifies a customer who is likely to convert. As an example, we know if someone checks out a 4K TV on a review site on a Saturday that person is more likely to make a purchase on the Monday. This intelligence should be reflected in the time and way a retailer bids for key search terms.
RTIH: What can we expect to see from RedBrain over the next 12 months?
AM: We are very focused on growth and have just announced our large European expansion across Germany, France, Italy and Spain where we now list over 250 million products. We will continue to grow in line with our business aims to become the world’s number one shopping discovery service.