Predict what your customers will buy, before even they know it
There’s usually no way around it: to increase your share of wallet, you need each customer to buy more of what you’ve got to sell. This means, for starters, having the right products in stock or in your product portfolio. But it also means being able to predict which products customer are most likely to buy, so you promote exactly the right product to each customer. Data science makes this possible, by combining customers’ online behavior with historic purchase data to determine exactly the right product/customer pairing – making product recommendations and other promotional strategies more effective.
Stronger product recommendation
Promoted products are more relevant and interesting when they’re developed based on rich data and cutting-edge analytics. Move beyond pairing products by intuition or user logic.
Increase conversion and basket size
Make customers more likely to purchase by showing them products they’re interested in. They’ll also add more to the cart before checking out.
Improve customer experience
The more relevant each promoted product, the more these recommendations seem like a service, not a sales tactic.
Better strategic planning
Understand the customer-product propensity matrix and factor these insights into your go-to-market strategies.