How AI-Powered Product Recommendations For Magento Can Boost Sales

July 7, 2020 2,163 Views
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How AI-Powered Product Recommendations For Magento Can Boost Sales

With the substantial rise in Ecommerce, there are a number of platforms available to help established Ecommerce businesses for increasing sales, boosting Average Order Value (AOV), extending their advertising budgets, and more. One relatively new item to add to the list is product recommendations. Product recommendations are an Ecommerce feature that not only improves the shopper experience but also keeps customers coming back for more, leading to more sales. In this article, we look at the benefits of product recommendations for Ecommerce businesses, specifically by Magento based, and how artificial intelligence can substantially improve their performance.

The Benefits of Product Recommendations

Product recommendations are just what they seem: they recommend similar or relevant products to customers. With the power of AI, product recommendations can be based on buyer behavior, such as products relevant to a customer’s purchase or products they have in their shopping carts, or even based on purchase or order history. In addition to increasing sales, AOV, and repeat customers, here are some other benefits of making product recommendations work for your Ecommerce business.

More Engaging Shopping Experiences

By simply personalizing the shopping experience according to their needs, customers spend approximately 40 percent more time shopping on your site. Magento is one AI-powered platform that allows Ecommerce businesses to do just that. Magento allows you to create personalized content, promotions, product recommendations, and more. By creating more engaging shopping experiences, this helps pave the way to purchase.

Increase the Impact of Digital Merchandising

Magento is also designed to increase the impact of your digital merchandising efforts. By understanding performance—and what is working and what isn’t—you can make adjustments accordingly to maximize your budgets further while reducing the manual work necessary to discover meaningful or relevant products for customers.

Reduce Manual Work

There was a time when Ecommerce businesses had to manually research and seek out relevant or similar products to recommend to customers, or manually build back-end tools to perform these tasks. However, both approaches were inefficient and oftentimes inaccurate. However, by leveraging product recommendations powered by AI, you can reduce the amount of manual work, increase efficiency and accuracy, and increase sales. Magento automatically analyzes shopper behavior to provide a set of recommendation types Ecommerce businesses can use across various storefront pages. Product recommendations can be individual shopper-based, item-based, and contextual popularity-based.

Boost Your Ecommerce Experience with AI

All in all, AI is more than just a buzz term today. Most SaaS tools and platforms today are designed with some AI capabilities. In regards to Ecommerce, AI fuels a collection of algorithms that automatically analyze shopper behavior to provide shoppers with the best possible and most personal experiences. Additionally, AdScale is another AI-powered tool that can help better allocate ad spend budgets and monitor and optimize campaigns across all channels, unlike any human.

Take your shopping experience one step further, and boost your Ecommerce business to another level.

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