The Conversion-Boosting Power of Personalized Recommendations
Online shoppers have more options available than ever before. But, this isn’t always a good thing. Never-ending options overwhelm customers and increase bounce rates. Fight decision fatigue by targeting individual shopper preferences.
Personalized Product Recommendations help create the ultimate shopper experience.
Why You Need Personalized Product Recommendations
Personalized Product Recommendations are one of the most effective ways to boost conversions. They attract first-time buyers and encourage repeat customers.
Shoppers that click on recommendations are 4.5x more likely to complete their purchase. What’s more, purchases with a recommendation clicked have a 10% higher order value. 54% of retailers report recommendations as a key driver of AOV.
Impulse buys are more likely when shoppers receive tailored suggestions. 49% of consumers have bought products they didn’t plan to buy as a result of Personalized Recommendations.
Not all recommendations are created equal. The true power lies in personalization. Personalization takes the guesswork out of which products to display to which customers.
Types of Product Recommendations
Don’t show shoppers unrelated products under the guise of “you may also like.” The first step to high-converting recommendations is understanding what’s available.
Show products a shopper should consider purchasing in addition to the item they are viewing. For example, accessories that match the dress they are viewing or products often purchased together.
Display alternatives to the item being viewed. Don’t force shoppers to return to category pages to find more of the results they’re interested in.
Highlight products a shopper is most likely to purchase based on order history or recently viewed items. Capture their attention with individualized suggestions.
Trending Products and Best Sellers
Display your most popular items or a specific category throughout the site. Target new visitors with products that are most likely to end in a purchase.
3 Tactics to Drive More Value From Product Recommendations
Get the right product in front of the right shopper at the right time for better conversion rates. To drive more value from Product Recommendations, try these tactics:
1. Upsell Higher Priced Products
When recommending similar items to the one being viewed, set a rule that prioritizes slightly higher-priced alternatives. This leads to higher cart values as shoppers are drawn to more expensive makes or models than they had first considered.
2. Highlight Must-Have Accessories
Cross-sell products that are typically purchased together. Imagine a shopper is on your site to purchase a suit jacket. Recommend matching trousers and a shirt and tie. You could persuade them to buy the full set. This can be applied to a wide range of products – from jewelry sets to electronics with add-on accessories.
3. Use Exclusion and Attribute Rules
Control products you don’t want to display. For example, exclude out-of-stock products from recommendations. Drive shoppers to unavailable products and you will damage conversion rates. Use attribute rules to prioritize products or brands with higher margins to boost the bottom line.
Boost Conversions by 5x With Product Recommendations
Want to learn more about how to boost conversions with Product Recommendations?
Check out our webinar How to Deliver Intelligent Shopping Experiences with Personalized Product Recommendations.