We collect a wealth of data about our visitors every day, and making good use of it gives us the opportunity to innovate and personalise customer service and the user experience. To grow e-business, we need to create new and meaningful value for e-commerce and retail visitors.
Over the last five years, e-commerce has grown significantly, changing consumer shopping habits, the user journey and the shopping experience. Today, people are not just buying a product, they are buying a brand, and their purchases also reflect our social, environmental and political views.
Creating a personalised shopping experience across the omnichannel is becoming increasingly important. Consequently, it is essential that a brand delivers a personalised experience at every point of the customer journey, be it blogs, ads, customer support, social media or an app. Being present at every customer touch point increases brand loyalty, raises awareness and customers feel recognised.
Are your customers frustrated?
Segment’s “The 2017 State of Personalization” report found that, on average, 71% of consumers express some degree of frustration when their shopping experience is not personalized. 44% of consumers said they are more likely to become a loyal customer after a personalised shopping experience.
The report also found that 77% of shoppers expect a personalised shopping experience in large e-shops, but only 23% of them actually experience it. For niche e-shops, 24% of shoppers expect a personalised user experience and 25% of them actually experience it.
How to create a personalised user experience?
Creating a personalised user experience leads to happy and loyal customers. To deliver a personalised and relevant user experience, data from every customer touchpoint (retail, e-commerce, mobile, email, advertising) is needed to create a 360-degree user profile with segments.
Lumav’s partner, Nosto’s mission is to make shopping more enjoyable by providing customers with a personalised shopping experience across every channel. With Nosto’s AI technology, merchants can deliver one-to-one personalised shopping experiences at every user point.
Nosto is a Finnish company founded in 2011. Today, they have offices in 7 different cities around the world and 2 500+ customers from more than 100 different countries. Their clients include companies such as Helly Hansen, Everlast, Bauhaus, Gymshark and many more.
How does Nosto work?
The Nosto eCommerce Intelligence Engine works on four different levels.
1.Product level
Nosto knows all the products in your e-shop and how they are related to each other, giving you product details such as margins, stock levels, the products most frequently purchased together, or which products shoppers actually buy the most after viewing a particular product.
2.Buyer level
Nosto creates a unique and rich profile of each visitor to your online shop. Using a unique identifier, it identifies the shopper’s location, individual interests, preferences, price sensitivity, brand similarity, purchase history and more.
3.Profit optimisation level
This layer analyses each product’s historical revenue level, giving the products an additional weight that maximises the e-store’s revenue potential.
4.Social level
The fourth and final layer is the layer of integrations and APIs, which enriches data from elsewhere with the e-shop. This can be social information (such as ratings and reviews) or user-generated content and data.
Sheet-based product recommendations
Nosto AI analyses each visitor’s unique browsing and shopping behaviour, creating individual customer profiles to tailor the user experience. This allows Nosto to recommend relevant products in real-time and personalise the shopping experience, thereby increasing customer satisfaction, repeat visits and conversion rates. Nosto’s page-based product recommendations increase conversion rates by an average of 15%. Some of the possibilities of Nosto product recommendations:
Dynamic kits
Dynamic Bundles enable the creation of linked and fully dynamic bundles that inspire users and increase average order value.
Best-selling products and trendy products
Inspire customers with the most popular and trendy products.
Personalised landing pages
Welcome returning visitors by recommending products based on their individual purchases.
Search with recommendations
Recommend products that other customers viewed or bought after using the search term.
User-generated content, ratings and reviews
Use social media to showcase products in real-life situations.
Cross-sell and up-sell
Suggest products that go well with the product you are looking at or the contents of your shopping cart in a product card, category or shopping basket.
Interested?
Contact us if you would like to interface your Magento e-shop with Nosto software.
