Recommendation generatorWiseAdvice
Most of internet-store recommendations suck. We can make them really effective.
What is WiseAdvice?
Are these goods really seem to be usually bought together?
We doubt.
What is our solution?
WiseAdvice creates tools & experiences that help Internet-stores increase the conversion
and sales
{{
Who’s involved
WiseAdvice
Alexander KhasanovDevelopersenior MIPT student
Andy BelovDevelopersenior MIPT student
Rostislav KislenkoDevelopersenior MIPT student
Nikita PustovoitovTeam leaderMIPT graduate
Daria KazennovaAnalystsenior MIPT student
What’s the problem?
Internet-stores…
Customers…
… offer great range of products …
… but have a low frequency of purchases…
…want to find a product that is right for them …
… but can not find product they want...
Total: no one is happy :(
WiseAdvice is:1) Allocation of groups of similar products2) Product recommendation3) Personalization of advertising messages
What’s a solution?
Wise Advice
Your store
Significant sales
increase
Technology
Collecting
data
Data analysis
Recommendations
Current results
• Conducting our own experimentWiseAdvice recomendations
vs. Amazon recomendations
• Getting prepared for our first installation
$1,1 bln.
$2,8 bln.
$700 bln. IMRG Global e-commerce Overview 2012: World’s annual market
The current market
IMRG Global e-commerce Overview 2012: 100 largest internet-stores have 40% of total market
Amazon.com: up to 40% of sales come from online-recommendations.
5% of “recommended sales” gives up to $2,8 bln.
Competitors
SmartBuy Bridgewell prudSys RDE
Needs a lot of data to start
workingNO YES NO
Model flexibility HIGH MEDIUM MEDIUM
Performance HIGH MEDIUM MEDIUM
Costs of installation MEDIUM MEDIUM?HIGH MEDIUM
Our business-model
Base
Small and medium internet-stores
Fixed payments:200 – 800 $/month
Premium
Large internet-stores
Percentage of recommended products’ sales: 2 - 5%
Our plans
4-th quarter of 2012
• Conducting experiments
• First test installation
1-st quarter of 2013
• Experiment’s results analysis
• Having more installations
2-nd – 4-th quarter of 2013
• Developing cloud version
• Having much more installations
Investing
Goals for investing: Current investments:
• Growing marketing & developing team
• Increase marketing efforts
• Make profitability within 1 year
7000$ – U.M.N.I.C. Intel , spring 2012
Get in touch
WiseAdvice team