17 Elements of a Product Recommendation Strategy
Creating personalized experiences in your ecommerce platform requires the right product recommendation strategy. But just like in-store, shoppers seek out expert guidance when buying online. So, the product suggestions of your online store need to be “smart”.
That's why ecommerce brands have turned to recommender systems to mirror the in-store shopping experience — allowing them to offer up suggestions like “Shop the look”, “Recommended for you”, or “Frequently bought together”.
In our ebook, “The Recommendation Periodic Table” we introduce you to the 17 elements (divided in 5 categories) of an effective product recommendation strategy.
The very same elements Amazon or Walmart.com use in their recommender system!
Take a sneak peek at some of the useful insights you'll find in this ebook:
- Product recommendations can help to increase revenue. According to McKinsey, product suggestions are responsible for 35% of Amazon sales, and 75% of Netflix selections.
- Content is fast becoming a necessary service for shoppers. Our table is not just about product recommendations but also content recommendations, as they can also inspire shoppers throughout their customer journey. For example, through recipe recommendations, or “How-to” posts.
- To work effectively, each recommendation category requires specific types of data. Discover what types of data your recommender system needs to provide a personalized experience — even when you have very little information about your customer.
- Experimenting and testing are key to building a successful product recommendation strategy. Learn when and where to use each recommendation element on your ecommerce
- Offer context-based recommendations. These suggestions are based on your products' attributes, your customer's context, observed trends, and other visitors' behavior — such as best seller, trending, new, or top rated products.
- Suggest products based on your business goals. This means recommending products that help you generate profit, clear expiring inventory, or satisfy supplier relationships — through products on sale, curated, or sponsored.
- Recommend products based on your customer's profile. Help your shoppers easily find a recently viewed or purchased product by suggesting to buy it again — and increase customer loyalty.
- Give product-based recommendations. Help your shoppers make more informed decisions and increase your sales by suggesting complementary, gradient, or similar products.
- Offer content recommendations. When you provide helpful content to your visitors — through “how to” guides, blogs, videos, or recipes — , they'll be more likely to make a purchase. Inspire them, facilitate their purchases, and offer customer support through content recommendations.
Your turn to create an effective product recommendation strategy for your ecommerce platform.
Get Coveo's “Recommendation Periodic Table” today!
