Personalization is the future of e-commerce

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If you were an e-commerce company, your key success metric is most likely conversion. This means every data on your shoppers’ behavior a key to optimizing the shopping experience. It may be challenging to collect all the data, processing them and analyzing to gain insights. However, you cannot ignore the massive opportunity it opens for you.

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Personalization:

Personalization The Future of e-Commerce Confidential © IQLECT 2018

Understanding e-Commerce :

A key metric to gauge the success of any e-Commerce business is conversion. Understanding customer behavior patterns on an e-Commerce platform is important to optimize the experience. Customer experience is the most important factor that will spell success or failure of any e-Commerce business. Your users must find it easy to navigate and find what they want on the platform. This will boost retention and increase repeat visits. Understanding e-Commerce Confidential © IQLECT 2018

Problems Faced by eCommerce Businesses:

Problems Faced by eCommerce Businesses Confidential © IQLECT 2018 Here are a few of the major problems that e-Commerce platforms face in achieving success: Inconsistent recommendation Irrelevant search results Lack of personalization Although e-Commerce platforms may be seeing high traffic to their sites, what they are missing is conversion and customer retention. It takes a strategic business plan and targeted marketing efforts to turn a failing e-Commerce venture into a successful, thriving one.

What to Focus on for e-Commerce Success:

What to Focus on for e-Commerce Success Confidential © IQLECT 2018 Know Your Customer Spend time to closely analyse your audience’s demographics. Understand what potential customers are searching for on the platform. This will enable you to make the online shopping experience more relevant to each prospective customer. Real-time Personalization e-Commerce, being online is different from a brick-and-mortar shopping experience. Hence, personalization is key. Use real-time data to understand what your customer is looking for now, rather than what they were looking for one week ago.

Achieve e-Commerce Success With IQLECT:

Achieve e-Commerce Success With IQLECT Confidential © IQLECT 2018 At IQLECT we have developed a sophisticated, real-time e-Commerce solution that works seamlessly with real-time data, allowing you to make the most of real-time personalization. Machine Learning and AI offer a powerful blend of predictive analytics on data about your customers. Learn m ore at IQLECT