This is a guest post by Bob Bell, CEO of LimeSpot.com – a leading product recommendation application for eCommerce stores.
EXCLUSIVE OFFER: After reading the article, should you wish to try LimeSpot to help you drive store sales, simply mention this blog post in an email to email@example.com, after installation, to receive Shopify Plus level plan services for theme customization and app configuration.
A Recommendation App is an application that uses information about your shoppers (e.g. their behavior within your store) to provide them with suggestions of products that are most likely to appeal to them. If you use Netflix or Amazon you see some of the fundamental principles of recommendation technology in action. Because you watched a particular show, or bought a particular product, other shows or products are recommended to you.
If you’re in the eCommerce business it’s a safe bet that one of the primary reasons that you’re in business is to sell product. The whole idea behind any type of personalization or recommendation technology is to address the very real problem of choice overload. This problem makes people either not buy anything or buy less than if they were shown products that they are genuinely interested in. If the technology is good, and the recommendations are accurate, you will see increased click through rates and your store will generate more sales.
Up until very recently it hasn’t been. Recommendation engines have traditionally relied on lots of site traffic to create the big data necessary to generate the “people who bought this also bought this” type of recommendations. This is great for sites like Amazon and Netflix, but not really a personalized experience and not applicable for smaller eCommerce companies with limited traffic. Technologies now exist that use other methods so that even small businesses can benefit from recommendation software.
Yes they will. From a consumer perspective, a recent eMarketer study found that 81% of shoppers surveyed wanted to see product recommendations. From a business perspective, studies show that companies that use data to deliver personalized customer experiences have 49% higher revenue growth and 30% higher return on investment. In fact, Amazon reports that close to 30% of their sales come from product recommendations. They really do work!
Ideally you want a solution that gives you:
There are a number of Recommendation Apps to choose from. And frankly speaking, recommendation technology in and of itself, regardless of the app that you choose, will help your store’s performance. So why choose LimeSpot? Most recommendation technology relies primarily on behavioral and trend analysis which requires big data to be effective.
This limits the usefulness for smaller shops and imposes a warm-up period before it can be effective. LimeSpot doesn’t have this limitation and incorporates all of the functionality highlighted above.
However, what makes LimeSpot truly different is the relevance of its product recommendations, and the unique ability to use profile information (i.e. Facebook and Twitter) to provide an actual personalized experience for your shoppers with the “Top Picks for You” functionality.
LimeSpot uses linguistic analysis and machine learning to understand your store’s content and the relationship between products. Understanding the relationship between different types of content negates the traditional warm-up period for effective recommendations and allows content to inspire discovery.
This ensures that product recommendations are instant, extremely relevant, and lead to best-in-class conversion rates.
EXCLUSIVE OFFER: Thanks for reading. Should you wish to try LimeSpot on your Shopify store, simply mention this blog post in an email to firstname.lastname@example.org, after installation, to receive Shopify Plus level plan services for theme customization and app configuration.