Product recommendations have become integral parts of the online shopping experience. By analyzing data from 50 million shopping transactions, Dynamic Yield learned that visitors who engage with product recommendations generate 2.8x higher revenue per visitor and 20% greater average order value. Thus it is vital to maximize exposure to recommendations to help users move from window shoppers to buyers.
However, merely deploying a one-size-fits-all personalization approach fails to leverage the full power of product recommendations. To drive more revenue, it’s time to improve your marketing strategy and put your data to work to personalize each promoted product. Onboard all available site behavior, purchase behavior and CRM data to tailor recommendation strategies that yield higher revenue per user.
The findings are conclusive: Product recommendations tailored to each individual user are one of the most impactful tools available to online retailers:
Check out the infographic below and click here to discover how you can maximize revenue through personalized product recommendations.