Recommendation engine: a way to boost your sales and optimize your customer journey
It is common that visitors land on your website, then disappear moments later and start surfing in the search engines again. For example, if your website shows irrelevant information and does not categorise its range of products. As more and more companies are selling their products online and the competitive landscape is becoming more intense, it is now more crucial than ever to have an easy-to-read, well-detailed product page which can ensure that customers have a better shopping experience and thus positively influence their decision to buy. A way to boost your sales and to offer your customer an ideal customer journey is through product recommendations on the product detail page. In this blog, we are going to discuss how Powerrelate offers you the best customer journey and generates more sales through related products, such as variants, accessories, products from the same line/family or samples using smart algorithms.
Imagine running a business in bikes and struggling to reach your sales targets, to promote your products, or to be well found online by your clients. You notice that many products are not sold, and even when you do sell some, often only a single product is placed in the shopping basket. As an entrepreneur, you are willing to offer more related products on the detail page in order to generate more turnover. Manually indicating which products are related to another product, for example in a PIM system, takes a lot of time and work. All major companies make use of this, where you are continuously being offered other dishwashers, of course on the basis of the characteristics of your products. Since it is very challenging and time-consuming for your business to offer this, we offer an automated way to do so using Powerrelate. Our algorithm not only automatically offers thousands of related products in a fraction, based on the characteristics of your products and sales data, it also provides an optimal customer experience and saves you both time and money. It requires no programming and thus no technical knowledge, allowing anyone to use the smart tool.
Suggesting similar products or accessories on a product detail page is a common strategy to sell more, and as a result, generate more sales. Bol.com is a platform that makes use of a recommendation engine e.g. by an including an extra tool for comparing selected products. In Powerrelate, smart algorithms will automatically configure product variants, alternative products or accessories based on the features of your products but also from sales data. For example, the smart algorithms ensure that in addition to the chosen product, similar items are also shown on the corresponding product detail page. Think of a 5 litre paint pot in matt black; on the product detail page, variants of paint pots in matt black can be shown, for example showing options between a 1,3 and 5 litre volume. In addition, exactly the same product can be presented, for example, a different brand, different colour, different content and other alternatives for the chosen product if, for example, it is not in stock. Accessories are also related to this product to generate higher conversion, by offering brushes on the same product detail page. With the Powerrelate tool, an A/B test was done for 2 months for the company Intergamma, leading to a 4.9% increase in the conversion rate.
Very interesting, but how exactly does Powerrelate work? Well, we will explain this with some examples of product variants and also accessories / upsell products.
Product variants are presented on a product detail page by means of product feature data. The smart algorithm then automatically defines clusters according to product characteristics and identifies the features that can be used to vary, such as colour. For accessories and upsell products, data is required from sales, such as sales figures, but also from certain rules, such as what products belong to painting. The algorithm already knows that a customer is looking for a paint pot and can therefore decide to add a brush as well. This doesn’t require training, only if the algorithm does not yet know the products.
Powerrelate ensures that you offer your customers an optimal shopping experience, but it also has other positive effects:
- Save valuable time and costs. Our algorithm offers hundreds or thousands of variants, similar products and accessories in an instant, based on the properties of your products
- 4.9% increase in sales. A/B tests have shown that sales are significantly increased when variants, alternatives and accessories are offered to customers using our smart PowerRelate.ai software
- No programming required. Due to the friendly user interface, no technical knowledge is required. The smart tool is accessible to everyone.
Are you interested in a demo of Powerrelate? If so, then please click on the link.