Maximize Online Sales with Product Recommendations
A product recommendation is an essential tool used by many E-commerce websites to promote feelings of trust and credibility. However, a product recommendation can be tricky to arrange and the way that they affect a business can be hard to calculate.
Product Recommendation Statistics
100% of the top 10 websites in the Internet Retailer 500 use product recommendations
70% of the homepage on Amazon.com is filled up with product recommendations
25% of time for merchandising teams is spent on setting up product recommendations
Benefits of Product Recommendations
A product recommendation can increase revenue up to 300% and raise the conversion rate of your business to 150% as well. Also, the average values of the orders that you receive can be increased up to 50% on average.
Difficulties of Product Recommendations
Some ways in which product recommendations are hard to put up with are that a marketer cannot place his/her input into the recommendation, the impact the recommendation may have on potential customers cannot be measured, and the amount of space needed to place a recommendation on the page may be hard to find.
Tools for Gaining Insights and Control
Transparent Algorithms with Controls
With this tool, a merchandiser may select the algorithmic pattern that customizes which recommendation each visitor sees.
Using this utensil an E-commerce executive can tailor suggestions to appeal to certain audience segments.
Easy Testing with Decisive Reporting
This program allows merchandisers to test recommendations with a control group and find out what works best.
Rapid, Code-Free Deployment
This helps a merchandiser add recommendations without making any physical changes to a page. It is recommended to place them at the browser level, where there are no limitations on page real estate.
Product recommendations may be hard to come by and manage, but in the end, they can raise the amount of business you have. It is important to get the most out of a product recommendation to maximize and raise the number of your online sales.