If you’re looking to significantly increase your online or email revenue, personalized product recommendations are the way to go.
There are a number of factors that go into the types of recommendations you can use. Are you helping customers discover new merchandise or complement a purchase? Or do you have specific inventory considerations you need to consider? The chart above outlines the different types of recommendations you can use to reach your goals.
But there are other factors to consider, such as items that are low in stock, merchandise with a price point that is much higher or lower than what the customers are viewing, even what products have previously been recommended to the shopper.
IBM found that adding personalized product recommendations online will give you a 23% revenue lift.
Listrak’s Product Recommender lets you set business rules for these specific scenario:
If using browse history, you can even recommend up to the last 25 items that the shopper viewed on your site: