Leveraging Data to Achieve Greater Sales

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Presented by Ken Levy for InnoTech Oregon 2011

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  • Agenda: Today, we are going to look how to use your online data to increase sales, specifically with product recommendations and ratings and reviews.SurveyHow many people work in ecommerce?How many people are from web agencies?How many familiar with recommendations or product reviews?
  • Sales Data for Cross-SellProduct attributes for low volume sales dataView Data for Similar1.5 seconds for websiteHold data in memory
  • Leveraging Data to Achieve Greater Sales

    1. 1. Leveraging Data to Achieve Greater Sales<br />Ken Levy CEO & Co-Founder<br />
    2. 2.
    3. 3. Ken’s Background<br />
    4. 4. In the store…<br />Sales Agent’s Knowledge<br />
    5. 5. Train More Sales Agents…<br />
    6. 6. Online<br />
    7. 7. Problem<br />
    8. 8. Opportunity<br />ONLINE DATA<br />Purchases<br />Product Views<br />Product Attributes<br />User Generated Content<br />Social Profiles<br />A/B Testing<br />NEW SOLUTIONS<br />Personalized Recommendations<br />Ratings & Reviews<br />
    9. 9. Stats<br />eMarketer Survey: Features to Add to Website<br />
    10. 10. Personalized Recommendations<br />
    11. 11. Better Shopping Experience<br />Convert Browsers to Buyers<br />Larger Orders<br />More Repeat Customers<br />
    12. 12. Key Types of Recommendations<br />Cross-sell<br />Similar<br />Personalized Up-sell<br />
    13. 13. Data<br />How Does It Work?<br />Recommendation Engine<br />
    14. 14. Product Page: Cross-Sell<br />Customers Also Bought<br />
    15. 15. Product Page: Similar & Cross-Sell<br />Scrolling Window<br />
    16. 16. Cart: Personalized Cross-Sell<br />
    17. 17. Email: Personalized Up-sell<br /><ul><li>Monthly Newsletter
    18. 18. Order confirmation
    19. 19. Shipping Confirmation
    20. 20. Ratings & Review Request
    21. 21. Abandoned Cart
    22. 22. Use Cross-Sell</li></li></ul><li>Email: Personalized Up-sell<br /><ul><li>Monthly Newsletter
    23. 23. Order confirmation
    24. 24. Shipping Confirmation
    25. 25. Ratings & Review Request
    26. 26. Abandoned Cart
    27. 27. Use Cross-Sell</li></ul>Based upon your buying habits, you may also like…<br />Based upon your purchases, you may also like…<br />
    28. 28. 25% More Sales<br />
    29. 29. 50% larger average order value15% higher conversion<br />
    30. 30. 10% more sales<br />
    31. 31. Ease of Integration<br />
    32. 32. Affordable Pricing<br />$50 to $1,300 per Month<br />Recommendations Displayed<br />
    33. 33. Ratings & Review<br />
    34. 34. Recommendations & Ratings /Reviews<br />
    35. 35. Future: Social Recommendations<br />Friends who bought this…<br />Dan Boyd<br />Chris Wicker<br />Nash Levy<br />
    36. 36. Future: Social Profiles<br />Movies For You<br />
    37. 37. In-Store Recommendations<br />
    38. 38. In-Store Trends<br />Price compare and leave<br />Keep shopper in store with recommendations<br />
    39. 39. In-Store Trends<br />Price compare and leave<br />Keep shopper in store with recommendations<br />In-Store Kiosks with Recommendations<br />Employee Handhelds with Recommendations<br />
    40. 40. Merchandising Decisions<br />What type on which pages?<br />Product Pages = Similar and Cross-sell<br />Cart = Cross-sell<br />Shipping & User Admin Pages = Personalized Up-sell<br />Newsletter, Order and Shipping = Personalized Up-sell<br />Cart abandonment = Similar and Cross-sell<br />Social / Facebook Store = Personalized Up-sell<br />
    41. 41. Merchandising Decisions (2)<br />How many recommendations?<br />Show 3 to 5 at a time and include a slider<br />Where on the page?<br />To Right of product, or<br />Below product, but above the fold <br />
    42. 42. Merchandising Decisions (3)<br />Titles – shoppers like to know why<br />People also bought…<br />People also viewed…<br />Based upon your order, may we suggest…<br />Based upon your past purchases, you may also like…<br />Same decisions for ratings & reviews<br />Measure Results with Analytics<br />
    43. 43. Thank You<br />Ken Levy<br />Co-Founder & CEO<br />Ken@4-Tell.com<br />971-338-9837<br />

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