Every customer today is urged to get personalized service from the service providers, be it offline or online service scenarios. Customer experience is considered the most important aspect for businesses to scale up. Recommendation engines moving on the same line helps create a win-win situation for both the customers as well as businesses.
Providing personalized experience and ease in buying journey of the customers. They provide either content-based recommendations or collaboration-based recommendations or a hybrid model.
Let’s see how this benefits the businesses to scale up their business-
- Facilitate up-selling – The recommendations provided mostly lures the customer to buy more and thus ultimately lead to more sale conversions.
- Facilitate cross-selling – Along with up-selling the recommendations facilitate selling other products which other customers have bought/recent offers/combo offers, which helps the customer guided towards buying this which he might have required buy not yet planned, but through these recommendations, they end up buying those.
- Customer engagement – Recommendation engines facilitate businesses to engage customers on the website. With the recommendations, most of the customers navigate a little more on the website which might facilitate more chances to buy products.
- Reporting assistance – they facilitate generate detailed reports on customer buying behavior/preferences leading to facilitate businesses to make informed decisions.
We at smartData Enterprises implemented a recommendation engine in a SaaS-based web and mobile platform that tracks manages and provides risk recommendations analytics and alerts in real-time, also in quotation platforms,s, etc.