How to automatically redecorate your online storefront for every potential customer
Are you satisfied with a 50% error rate? Especially online retailers would immediately deny this question:
In order to be able to enforce the strong competition, they optimize every corner of their shop. But especially the “shop windows” of online shops, product lists, are often neglected. Find out how their individualization helps you to take off from the competition.
Optimize your lists and increase your enormous sales potential: Because currently, 50% of all product list browsers jump off instead of taking a closer look at products.
Source: odoscope GmbH
Product list sorting by retailer relevance falls short of the mark
“In 2018, it will be crucial for online shops, to present their individual customers only the inventory that is really relevant to them. This poses a major challenge, especially in the mobile sector. The screen is smaller, and the user often moves through the streets while looking at his smartphone. In these situations, it is even more important for the shop owner to offer exactly the right product. Therefore, have to move away from a pure listing of search results to an individualized experience.”
– Denis Burger, Senior Director Seller Growth at eBay Germany in the Internet World Business.
Online retailers lag far behind these expectations: They usually present the same product list to all their visitors, sorted by the top sellers for all customers. Therefore, many visitors jump off disappointed. The problem: Up to now, shop operators had no possibility to resort product lists for the current visitor in an individually meaningful way.
Individual user relevance through situational personalization
odoscope, the first provider of an operational intelligence solution for e-commerce, solves this dilemma: Thanks to prescriptive analyses and innovative in-memory technology, the next generation of BI is able to evaluate all historical data situation-related within 20 milliseconds. The results are used to resort product lists data-driven: Like individualized shop windows, they show each individual visitor the most relevant products – for him and his current situation.
Even unknown users are optimally addressed in this way: The system satisfies its situation-related characteristics for individualization. Highest performance values and shop visitors who stay, buy more and come back confirm this approach.
Individualize situational: Features such as referrer, channel, device, browser or geolocation of the visitor have a high influence on his shopping behavior, e.g. on the ordered products.
Same search query, different situations, completely different top hits: with situational personalization you are able to show every user the most suitable products.
Full automation for reduced workload and cost savings
In contrast to conventional product list maintenance, which is often done manually, Operational Intelligence is fully automated. Online providers thus save considerable costs. Nevertheless, they retain full control: The dashboard provides permanent insight into all optimization measures. Also, the own business logic can be easily integrated: At the push of a button, corporate goals are taken into account when individual product lists are sorted.
You set the direction: Boost certain product attributes such as ‘winter jackets on sale’ or ‘new collection’. These are included in the individual sorting of your lists with a higher weighting.
“The data-driven approach of odoscope has convinced us in the long term. We can completely save the constantly increasing manual effort for product list sorting and thus significantly reduce our costs for shop maintenance while simultaneously achieving double-digit sales increases.”
– Michael Heine, CEO, Praxisdienst
odoscope at a glance (https://www.odoscope.com)
- Individualization of the shop windows of online shops:
Data-driven sorting of dynamic content for each individual visitor.
- Situational data evaluation in real time:
Personalization for unknown visitors within 20 milliseconds.
- Fully automated optimization:
Self-learning system for optimizing individual business goals.
- Highest transparency and control:
Insights for business users and consideration of individual company goals.
- Individual support for your company’s success:
Partnership-based advice with daily performance supervision.