Improved customer experience is one of the best ways to ensure customer success. The journey starts not after purchasing the products but from the time you land them on your website. In the same row, product recommendation engines have become highly popular amongst businesses to turn up their sales, boost revenue generation, CTR’s, and other essential metrics. They add up to the overall customer experience and make customer acquisition fairly easy. This translates into customer satisfaction, retention, and success of your online business. Let’s learn what it is, what are the best product recommendation strategy, and the top 5 tools you will require to ace it.
What is a product recommendation engine?
Product recommendation engines filter the customers’ information and use high-end algorithms and data to recommend the most relevant items to a particular user. The engines have to aggregate the user data and determine the item’s relevancy with their provided information for the engines to provide more personalized assistance.
Product recommendation techniques you need to know
The size of the eCommerce site and the number of products can make this task a bit more challenging for the product recommendation engines. An eCommerce site might have different types of products, which creates a huge impact on how recommendations should be used and presented in the store. The more the products, the more complex would be the algorithm, and harder would be the implementation. Meanwhile, you can leave the rest to the development team; you still have a big say in implementation. Here are the 5 most effective techniques for increased revenue.
1. Frequently bought together
This method helps you in suggesting related products on the cart pages. When a customer is ready to make a payment or adds a product to the cart, you can offer more products that are usually bought together. Such as when a person buys earphones, you suggest earphone cases. However, this comes with a drawback, as more the products added to the cart, more would be suggestions, and this might make the process complex. But where there is a will, there is a way; you can optimize your checkout pages to make sure the entire process is fast.
2. Top selling products
When you have multiple merchants selling the same products, your customers can get confused about which one to buy. To make the best buy, they open each product page and go through its description, rating, and other factors. A product recommendation engine fastens decision making and improves customer service by recommending the best seller products. This is also a good option when they don’t have much information on the user. Customize the store the way you want and display the products in the best way so that you can enjoy a higher ROI. We can help you get exceptional Magento store customization services and help you achieve your business objectives.
3. Latest products
This is one of the best ways to implement a recommendation engine. They don’t need any personalization. Thus, this method comes very handy for web browsers as they can identify the newest products and provide assistance to your users. Additionally, they can help your regular buyers find what’s new in the store within seconds. You can run limited-time deals and offer discounts to shoppers to increase your sales.
4. Similar products
Unlike the previous option here, you would require some data to assess your clients’ tastes and preferences to provide a highly personalized shopping experience. Suppose a person is a regular buyer on your site. In that case, you can collect much information from their buying behavior and what kind of products they have been looking for. Products they have purchased in the past, keywords, and other information help understand your customer needs and their interest.
5. Recently viewed products
When a person explores a particular product on your eCommerce site but is not making a purchase, maybe they are waiting for better options or a better deal on those products. Recently viewed products are the best way to inform your clients about these products and give them more suitable recommendations. They can browse through their search history to find the product they like and make a purchase. This improves their customer experience to a great extent.
Top 5 productivity tools for effective implementation of product recommendation engine
1. Customer Acquisition Tool – Hotjar
Hotjar has lately become a must-have toolset for all the sales professionals, and why not? The excellent toolset uses heatmaps that visualizes user behavior while browsing websites. It helps them understand their click, tap, and scrolling habits. Using this crucial information; the sales professionals understand their buyer behavior.
2. CRM tool – Insightly
Customer relationship management and lead generation issues can be efficiently resolved using Insightly. It brings two of the most important aspects of sales onto one singular dashboard and gives you a deeper understanding of the client’s purchases. It showcases the full detail of the order and step by step conversions and how the sales team performs. Further, closing deals are fully automated, and you improve your customer experience with automated sales and better sales relationships.
3. Customer Success – Salesforce
Salesforce is the bridge between the customers and the company. It provides the sales team a holistic view of each customer. It helps in understanding the person’s buying behavior by using different metrics necessary to retain the customer all throughout your business life cycle. Your 360-degree solution is to make effortless customer engagement, coordinate with your IT team, and improve the website and app for better customer retention.
4. Product recommendation engine tool – Magento 2 Most Viewed Product Extension
Built for Magento 2, this advanced product recommendation engine toolset helps you grab your site visitors’ attention and provide them recommendations of the most viewed products as per their query.
This advanced toolset can handle large inventory and helps the product recommendation faster, and accurately. With a dedicated admin dashboard, it is easily managed and easily customizable to display a catalog with the most viewed products. You can add this feature to the cart, wishlist, or homepage as per your sales strategy.
5. Product engine recommendation tool – Magento 2 Who Viewed This Also Viewed Product Extension
This tool is unique and one of the most recommended extensions by us. This extension is compatible with the websites built on Magento 2 and shows the most viewed products. It recommends related products present on your website and provides a personalized experience using a high-end, infallible algorithm.
The useful extension displays products to people to buy products from your site that other customers have seen. This helps them make better decisions as they can compare the most viewed products. Improved decision-making, happy customers, and what else could anyone have asked.
In hopes, you found this blog extremely helpful in understanding product recommendation engines, their working, challenges, and the best techniques to implement them. We would love to know how our recommendations helped you improve customer retention for your online business.