Starting a business, generating traffic, keeping up with today’s market — it can be tough to find the optimal formula for growth. Our client, an ecommerce company, wanted to gain a competitive edge and increase revenue. You look to experts to try to replicate their strategy for success, but you know you need to do something different. Seeking to revitalize its growth trajectory, we helped our client improve their conversion strategy by leveraging our recommendation engine, advanced analytics, and targeted personalization across their site. They achieved a remarkable 700% increase in direct attributable revenue within a short timeframe.
Here’s how we did it.
Client Profile:
Company: Equipment and Supplies
Industry: Ecommerce
Size: Mid-sized
Challenge: Increase revenue growth in a competitive market
Step 1: Identify gaps in your customer journey
Is your site performance where you want it to be? If the answer is yes, you’ve probably got it all figured out. If the user experience isn’t exactly where you want it — we’ve got you covered. In this case, our client had a limited understanding of customer behavior which hindered their ability to create personalized experiences, ultimately leading to lower customer engagement and retention.
Recognizing the potential of data-driven strategies, we took a multi-faceted approach beginning with a comprehensive analysis of each touchpoint, from initial customer interaction to final conversion. This analysis of customer behavior to identify areas of friction and missing touchpoints across the site. This provided a holistic view of behavior and preferences that we used to address gaps and create a more streamlined and engaging experience for their customers.
Step 2: Turn passive customers into active buyers
Tailoring experiences to individual customer preferences fosters higher engagement, leading to increased conversion rates and customer loyalty. By proactively engaging these passive customers with recommendations that were personalized to them, we were able to turn them into active buyers. Nurturing relationships and providing solutions that align with the customers’ interests is key to growth. Gaining customer interest and guiding them towards making purchases boosts conversion rates and cultivates brand loyalty for a positive customer relationship.
Step 3: Learn and unlearn customer needs
Once you’ve tailored the customer experience to a customer, understanding their needs is an ongoing process that requires continuous learning and adaptation. Proto AI continuously learns – and unlearns empowering the client to identify evolving preferences. Flexibility is important and allows your business to remain attuned to changing behaviors while consistently delivering value that truly resonates with your customers. Because of this flexibility – we saw a 550% lift in revenue per recommendation click.
Step 4: Leverage the data for top-line growth
With a robust understanding of customer needs, it’s time to use the power of AI to drive top-line growth. Personalization remains a cornerstone, tailoring offers and experiences to specific customer behavior significantly enhances engagement and conversion rates — in the case of our client, after implementing Proto AI, click through rate of customers who saw a recommendation and clicked on the product improved by 34%. AI-powered approaches to on-site personalization not only contribute to revenue growth but also empower your business to make informed decisions that align with customer expectations in today’s market.
Results: Impact of personalization
From identifying gaps in the customer journey to leveraging data for top-line growth, the focus on customer-centric strategies resulted in a resounding success, lifting directly attributable purchases by 290%. The impressive increase in direct attributable revenue is a testament to the power of understanding, engaging, and adapting to your customers. Focusing on customer behavior, personalization, and optimization, the company achieved remarkable results, solidifying its position in a competitive market.