leveraging data to achieve greater sales
DESCRIPTION
Presented by Ken Levy for InnoTech Oregon 2011TRANSCRIPT
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Ken Levy CEO & Co-Founder
Leveraging Data to Achieve Greater Sales
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Ken’s Background
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In the store…
Sales Agent’s Knowledge
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Train More Sales Agents…
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Online
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Problem
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Opportunity
ONLINE DATA• Purchases• Product Views• Product Attributes• User Generated
Content• Social Profiles• A/B Testing
NEW SOLUTIONS• Personalized
Recommendations• Ratings & Reviews
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Stats
eMarketer Survey: Features to Add to Website
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Personalized Recommendations
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Better Shopping Experience
Convert Browsers to Buyers
Larger Orders
More Repeat Customers
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Key Types of Recommendations
Cross-sell
Similar
Personalized Up-sell
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Data
How Does It Work?
Recommendation Engine
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Product Page: Cross-Sell
Customers Also Bought
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Product Page: Similar & Cross-Sell
Scrolling Window
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Cart: Personalized Cross-Sell
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Email: Personalized Up-sell
Monthly Newsletter Order confirmation Shipping Confirmation Ratings & Review Request
Abandoned Cart Use Cross-Sell
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Email: Personalized Up-sell
Based upon your buying habits, you may also like…Based upon your purchases, you may also like…
Monthly Newsletter Order confirmation Shipping Confirmation Ratings & Review Request
Abandoned Cart Use Cross-Sell
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25% More Sales
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50% larger average order value
15% higher conversion
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10% more sales
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Ease of Integration
Ecommerce Platform
Online Retailer Online Retailer Online Retailer
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Affordable Pricing
$50 to $1,300 per MonthRecommendations Displayed
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Ratings & Review
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Recommendations & Ratings /Reviews
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Future: Social Recommendations
Friends who bought this…
Dan BoydChris Wicker
Nash Levy
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Future: Social Profiles
Movies For You
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In-Store Recommendations
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In-Store Trends
1. Price compare and leave– Keep shopper in store with
recommendations
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In-Store Trends
1. Price compare and leave– Keep shopper in store with
recommendations
2. In-Store Kiosks with Recommendations
3. Employee Handhelds with Recommendations
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Merchandising Decisions
• What type on which pages?– Product Pages = Similar and Cross-sell– Cart = Cross-sell– Shipping & User Admin Pages = Personalized Up-sell– Newsletter, Order and Shipping = Personalized Up-sell– Cart abandonment = Similar and Cross-sell– Social / Facebook Store = Personalized Up-sell
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Merchandising Decisions (2)
• How many recommendations?– Show 3 to 5 at a time and include a slider
• Where on the page?– To Right of product, or– Below product, but above the fold
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Merchandising Decisions (3)
• Titles – shoppers like to know why– People also bought…– People also viewed…– Based upon your order, may we suggest…– Based upon your past purchases, you may also like…
• Same decisions for ratings & reviews
• Measure Results with Analytics