Personalization traditionally works best when you have tons of behavioral data for each product. But how do you personalize for new products or ones that are considered “long-tail”? How do you ensure that this inventory is immediately visible and recommended to your customers? Well, you couldn’t until recently .. not without NLP.
Holiday season is fast creeping up upon us and retailers are gearing up for it with new catalogs, seasonal promotions, refreshed website, new content and more. But how do you prevent the dreaded “abandoned cart” which threatens to destroy all of our hard work, causing prospects and customers to leave mid-way through the purchase? Studies place cart abandonment as high as 80%! Reducing it by even a few percentage points can mean massive recovered revenue.
RichRelevance Dynamic eXperiences with Engage has you covered. Read on for more.
A McKinsey survey of senior marketing leaders found that only 15 percent of CMOs believe their company is on the right track with personalization. In this recent article, they summarize 3 trends in the future of personalization:
- Digitization of Physical Spaces
- Scaled Empathy
- Usage of Ecosystems by Brands
MAKING THE LEAP TO HYPER-PERSONALIZATION
One trend continually on the rise is shopper dissatisfaction with what once passed for personalization. More so than ever before, your customers want and even demand that you know them better, understand their individual needs, and inspire them to continue shopping. The time has come to rethink personalization by making the leap to Hyper-Personalization. With Hyper-Personalization, and the new features launched in support, we allow you to take the next evolutionary step and do what the marketing clouds and rest of the personalization industry can’t: deliver real-time personalized and shoppable experiences at the individual level.
Many recommendation engines rely on patterns of consumer behavior — which are not very useful for new products that have no browsing or purchase histories.
That’s the view of Carl Theobald, CEO of shopping personalization platform RichRelevance, which announced Monday enhancements that are designed to overcome this “cold start” problem on retailers’ sites.
The future of B2B is consumerized and therefore personalized. At least, that’s the takeaway from industry leaders with whom I shared the stage for a keynote panel on digital transformation at the recent B2B Online conference.
As we discussed the internal challenges and external forces confronting the industry, a dominant theme emerged: Personalization is the only way to drive differentiation and growth for B2B companies who want to become the Amazon of their category … before Amazon is.
UK’s leading retailer of quirky and unusual gifts implements personalised recommendations to drive online sales
London, UK, 04 December 2018 – RichRelevance, the global leader in experience personalisation, has been appointed by Qwerkity, part of The Book People Group, to provide personalised product recommendations through its Xen AI platform.
Leading fashion brand, GANT has seen online sales improve by 15% since putting their trust in personalization.
GANT wanted to move away from a manual, time-consuming recommendations platform to improve their overall site experience as well as enhance their navigation.