A wide number of people have shifted from traditional in-store purchases to online purchases. They are loving the personalized buying experience that is making them feel like they are the single most important customer for any particular business. All this is possible only because of product recommendations. It enables businesses to enrich customer engagement along with the shopping experience. Amazon has stated that it accounts for over 30% of revenue from product recommendations. Most of the audience is unaware of items they want to purchase or look for until they are shown or suggested to them. That’s what a recommendation engine does! It shows your customers exactly what they need.
Product recommendation is an algorithm that predicts and displays products that your consumers would like to purchase. It uses user-specific data along with several filtering methods to offer customized recommendations. It analyzes several parameters such as ratings, comments on products, purchase history, return history, cart events, page views, click through and search log to offer accurate recommendations.
When done perfectly, Product recommendations can help eCommerce business owners boost their revenue and enhance customer retention.
When shoppers don’t find what they are searching for, they abandon it without completing a purchase. Users are overwhelmed with product choices. With a huge product catalog encompassing hundreds and thousands of products, shoppers need to be able to quickly find relevant products to make their purchase journey seamless. eCommerce businesses integrate recommender systems to personalize the shopping experience of the audience and in turn boost user engagement by showcasing the most relevant products to the individuals.
Most of the users have a poor navigation experience because of several reasons. It is not just about how eCommerce businesses present their products; it’s also how the overall on-site experience is provided to visitors. On-site experience depends upon several factors such as navigation, menu, images, button colors, homepage, banners, search bar, cart page design and many more. Navigation structure as well as labeling must be concise. Apart from that, providing personalized recommendations helps users easily navigate through the website and browse across all categories and products.
One of the fundamental benefits of a product recommender engine is the ability to recurrently collaborate with customers. When users are provided with relevant recommendations, there are a few chances of losing potential clients. It is evident that customers too are aware of recommendations made by a platform to personalize their experience and they are also willingly sharing their data in exchange for personalized recommendations. This shows how important product recommendation is and will continue to boost in future. Therefore, businesses should start using a product recommendation engine.
Cart abandonment is a complex problem and it dealing with it should be a part of every business’s strategy. Moving a prospect through the sales funnel only to lose them at the purchase point is quite frustrating. However, you can solve most of the factors driving abandonment through personalized product recommendations. eCommerce businesses can use browsing history and individual preferences to boost recommendations and enhance conversions.
Brands can also offer compelling discounts or free shipping along with the recommended products to entice customers to reach their carts and complete the buying procedure.
When a customer comes with a hope to find his/her favorite product but finds nothing relevant, they would jump to another website or application. 21st-century consumers are smart and will quickly take their money elsewhere. Well, you would never want the same happen to your store.
Personalized recommendations help engage your website visitors which eventually leads to lower bounce rates and higher conversions.
Customer engagement helps brands boost user engagement, increase conversion rates and enhance revenue flow. It also helps increase average order value and gain valuable insights into what customers like. Businesses can use a product recommendation system to offer users a highly personalized experience.
Alie would be the right product recommendation engine for your business that will help maximize your potential and offer end users a tailor-made store. It is an AI-powered recommendation tool that uses a machine learning algorithm to offer ultra-relevant product suggestions to users. Start a 14-days free trial and find out how it can help shoppers enjoy a seamless buying process.
Written by: Ankit Jena
Ankit is Content Writer for Muvi’s Marketing unit. He is a passionate writer with 5+ Years of Experience in Content Creation And Development. In his past time, he likes to dance, play football and google various things to quench his thirst for knowledge.
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