Enhanced customer loyalty with the help of personalized experiences
Retailers can create a personalized experience for online buyers
through algorithms to monitor and categorize customer persona…
Process
The client is a leading retail company. The current project was to personalize the product display for repeat customers to the e-commerce site. In the as-is process when a buyer logged into the website they would only see a static page which was common for every customer. The search results for a customer was also based on product availability and sales; there was no personalization on the basis of demographic or user-persona.
Solution
An algorithm was developed to monitor and categorize user-persona. The initial persona was created using historical buying trend of the user. Machine Learning (ML) was applied for the algorithm to continuously adopt and add to the created persona, as the customer kept purchasing from the e-commerce site. The intend was to create a personalized experience for each customer. This also reduced the time and effort spend by a customer in searching for products to their liking. Matched with the latest trends, the Artificial Intelligence (AI) model was able to create a seamless experience, which is equivalent to a personal shopping assistant in a physical store.
Challenges Addressed
Irrelevant content
The current process displayed products which included things that the customer doesn’t like and he/she had to shift through those to find something of their interest.
Low customer satisfaction
Since the e-commerce site was displaying products generally bought and available, the impact on the user was low.
Low search-to-purchase ratio
Search results and shifting through unwanted products resulted in customers dropping out without purchasing from the site.
Less cross-sell opportunity
Creating a user-persona helped create targeted cross sell opportunities which was there earlier.
High time-to-purchase
Displaying products which were personalized to the user helped reduce the time purchase from the time of logging into the site.
Outcome
- Enhanced search-to-buy ratio by 27%.
- Increased positive customer feedback by 18%.