How we increased the conversion rate of an e-commerce by 250% using product recommendations 🚀🚀
The best way to increase the conversion of an e-commerce is to get the right product in front a the right buyer. Machine learning can be used to understand each customer preferences at an atomic level, so we can personalize the e-commerce offer.
Tech giants like Microsoft, Google or Amazon use recommendation systems to boost customer engagement. Particularly, 35% of Amazon's revenue comes from product recommendations.
In RecoMind, we have been helping retailers to use AI to personalize their product offer. We recently changed our business model, there is no up-front investment or cost per click, we only get paid when we generate a sale. Our solution is actually free for the e-commerce.
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These pictures are really good, I think that helped as well.
Thanks 👍
what was your conversion rate before and what was it after?
and how much volume of conversions are you getting now?
edit: i think i misunderstood
hi, it actually depends on the ecommerce, the kind of business they are, whether they have users that buy continuously or sporadically (warm vs cold users), and the position of the recommendations in their web page (the lower is the location, the worst is the conversion). These values could vary between 50% and 250%.
In order to measure the conversion change, we perform an A/B test