Increase Conversion and Boost Revenues with Personalised Recommendations
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Increase Conversion and Boost Revenues with Personalized Recommendations Isaac Moshe, UK Managing Director Manchester Tuesday, 8th July
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Transcript of Increase Conversion and Boost Revenues with Personalised Recommendations
Increase Conversion and Boost Revenues with Personalized Recommendations
Isaac Moshe, UK Managing Director !
Manchester Tuesday, 8th July
Nosto enables online retailers to deliver customers a personalized shopping experience… !
…increasing conversion, AOV and customer retention.
About Us
+1.8 billion personalized recommendations generated
AN INTERNATIONAL LEADER1200+ etailers in over 50 countries
Impact of Personalized Recommendations
Objectives Nosto performance
Reduce Bounce Rate +213%Customers who clicked Nosto recommendations spent 213%
more time on the site
Increase Average Order Value +24%Customers who clicked Nosto
recommendations have 24% higher Average Order Value
Boost Conversion Rate +66%Customers who clicked Nosto recommendations converted
66% better
Today’s Talk
The State of E-commerce Right now
A Proven Solution
Typical E-commerce journey
The Good, The Bad and The Ugly
Q&A
The State of E-commerce Right now : The Growing Problem of Conversion
A Proven Solution : Personalized Recommendations
The Good, The Bad and The Ugly : Examples of best practices
Typical E-commerce User Journey : Which Recommendations work best at each stage in conversion funnel
Q&A
Buyers Are Shopping Around More
Buying Cycles Are Getting Longer
Customer Acquisition
90%
100%60%30%
Total visitors
Visiting Shopping Area
Place items in cart
But… after all that hard work and money
1% On mobile
Make a purchase2.8%
Over 75% of Amazon’s Pages Contain Personalized Recommendations
Conversion rate
18%Over 75% of Amazon’s Pages Contain Personalized Recommendations
Personalizing the customer journey
Cart Page
Home Page
Category Page
Product Page
Search Page
Pinky Board 404
Error Page E-mail
SurfboardsCart Page
Search Page
Home Page
YES? NO?6 seconds
Average time before an internet user decides if he stays or leaves a website
baby items sold on Bodie & Fou
baby items, paintings…
baby items, paintings, jewellery…
baby items, paintings, jewellery, wedding gifts
baby items, paintings, jewellery, wedding gifts
Time spent on the site increased
by 66% !
Number of products viewed increased
by 126%
Buying cycles are getting longer…
research website awareness
product search
Pinky Board
product awareness
decision payment reception satisfaction
extensive research
price comparison
browsing competition
sharing for
feedback
research website awareness
product search
product awareness
decision payment reception
Pinky Board
satisfaction
are buying from the 1st contact
<15%Buying cycles
Average CTR 7.4%
Category Page
Surfboards
Product Page
Pinky Board
Ave. 13% Greater
Conversion
£25
£18
£25
£18Dynamic Up-selling
£12
Cart Page
Cart Page
Search Page
Search Page
Search Page
Search Page
Customers who search are !
3-4x !
more likely to buy
Total items : 1005 51 pages
Personalizing the customer journey
Pinky Board 404
SurfboardsCart Page
Search Page
Cart Page
Home Page
Category Page
Product Page
Search Page
Error Page E-mail
Personalizing the customer journey
Pinky Board 404
SurfboardsCart Page
Search Page
Search and visited items
!Search and
purchased items
Recommend Hottest Items
of the moment !
Personalize Content
right down to individual recipient
Top List within the category
!Pro Tip:
Filter by brand, price point or
other tags
Top List: Most Popular
Right Now
Top List showcasing store
offering !
Personalized Recommendations
Cart Related items
!Personalized
Recommendations
Cross-selling Up-selling
!Pro Tip:
Filter by relative price point to increase AOV
Cart Page
Home Page
Category Page
Product Page
Search Page
Error Page E-mail
