The Power Of Persuasion-Capture New Clients And Increase Upsells With A Custom-Tailored Recommendation Engine! Well-Known Online Marketplace Experienced A 33% Increase In Comp Sales, Without Increasing Their Marketing Budget!
Client was a well-respected online marketplace, offering over 40,000 SKUs in multiple product categories. Sales volume was on a steady rise, but due to marketing spending and promotions-profit margins were low. Client was searching for a way to increase sales and profitability, without increasing their marketing budget.
Profit-driven recommendation engine produced double-digit lift in sales.
Increased sales volume, and upsells-without increasing focus on discounts and promotions.
Improved users experience, as intuitive recommendation engine suggested the right products, at the right time.
The client was a major player in the online marketplace. While they experienced exponential growth from 2010-2013, their sales volume experienced modest profitability in the past three years. While marketing campaigns helped to increase overall sale volume, it was at the cost of highly discounted products and value-adds-that minimized profitability. While there was still a place for promotions and discounts, such as longer return policy, free shipping, expedited shipping, and cash back offers-the client was searching for an innovative new recommendation engine that would accurately determine the needs of the shopper. Their current recommendation engine accounted for less than 6% of sales, and the Dextro Analytics team knew we could do better!
1. Just in two-months, client saw 33% sales through recommendation engine.
2. The client was highly amazed by image detection feature, which quickly refines the recommendation at scale.
3. Dextro's proprietary cold-start algorithm helped personalize the website for new visitor based on where they come from.
“In the history of our company, we never saw double-digit growth in sales just by recommendation engine. Dextro Analytics dazzled entire management team.”
- Chief Marketing Officer
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