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Webinar: Elevate Your Digital Commerce Platform with AI-powered Search

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Today’s ecommerce leaders are elevating their digital commerce platforms with AI-powered recommendations and hyper-personalization.

In this webinar, you'll learn how retailers are combining human expertise with machine learning to deliver uniquely personal online shopping experiences.

Published in: Technology
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Webinar: Elevate Your Digital Commerce Platform with AI-powered Search

  1. 1. S P E A K E R N A M E S P E A K E R T I T L E Elevate Your Digital Commerce Platform with AI-powered Search R I C H A R D I S A A C , C E O , R E A L D E C O Y C O N S U LT I N G J U S T I N S E A R S , V P P R O D M A R K E T I N G , L U C I D W O R K S
  2. 2. Richard Isaac CEO RealDecoy Consulting
  3. 3. Justin Sears VP, Product Mktg
  4. 4. HYPER PERSONALIZATION Maximize opportunities to tailor the experience to each and every shopper’s wants and needs.
  5. 5. HYPER PERSONALIZATION Go beyond static personalization and business rules applied to pre-defined customer segments. Use AI and machine learning to adjust the shopping experience and make it uniquely personal.
  6. 6. Better Outcomes ATC Increased Add to Cart AOV Improved Average Order Value CTR Boosted Click Thru Rate
  7. 7. Some Lucidworks Commerce Customers
  8. 8. Employees and customers have an insatiable need for information. cognitive search delivers it. It augments employees’ intelligence to help them make smarter decisions and complete tasks faster. It helps customers support themselves and find information about products and services. -- The Forrester WaveTM: Cognitive Search, Q2 2019
  9. 9. Hyper-Personalization BrowseSearch Curate
  10. 10. CUSTOMER EXPECTATIONS ARE CHANGING
  11. 11. Over 95% of money spent on customer acquisition fails to directly convert customers.
  12. 12. Increasing customer retention rates by 5% increases profits by 25% to 95%. B A I N & C O M P A N Y
  13. 13. “While many companies have scored a few modest successes with their personalization experiments and initiatives, few know how to do it on a large and consistent scale across all channels.” M C K I N S E Y | J U L 2 0 1 8
  14. 14. LUCIDWORKS FUSION Real-time, personally relevant search results Machine learning for product discovery and recommendations Query intent predictions at scale, with humans in charge
  15. 15. SEARCH FILTER VISUALIZATION NAVIGATION INSIGHT RELEVANCY STATISTICS RANKING CORRELATION ACTIVITY CONTENT INDEX NATURAL LANGUAGE BOOSTED RESULTS MACHINE LEARNING QUERY RULE MATCHING USER SIGNALS FACET, TOPIC & CLUSTER D ATA Human Generated System Generated Application Generated S O L U T I O N Digital Commerce
  16. 16. Advanced connectors and AI enrichment, delivered by intuitive applications created with App Studio D ATA Any format, any platform S O L U T I O N Personalized to meet needs of each unique buyer FUSION Server FUSION AI FUSION App Studio FUSION AI F U S I O N P L AT F O R M Human Generated System Generated Application Generated Digital Commerce
  17. 17. Hyper-Personalization BrowseSearch Curate
  18. 18. SEARCH CHAL L ENGE Deliver relevance without the shopper having to ask
  19. 19. SEARCH WI TH FUSI ON Superior user experience Real-time indexing Hyper-personal relevance Performance at scale
  20. 20. 30% of website visitors start their website visit by using the search box
  21. 21. When website search is used, conversion rates average 4.6% instead of 2.8%
  22. 22. Giving Shoppers What They Want, When They Want It Deliver highly performant search at scale built on Apache Solr and Spark Increase add-to-cart by providing access to pertinent product information Enable teams to rapidly prototype relevance strategies
  23. 23. BROWSI NG CHAL L ENGE Run, scale, and maintain ML models for browsing and product discovery
  24. 24. BROWSI NG WI TH FUSI ON Hyper-personalization Navigation intelligently augmented with ML Ownership of your customer data, to use as you please
  25. 25. Personalizing the Shopper’s Browsing Leverage signals to auto-classify, cluster and tag new products Predict user intent to optimize cross-sell, upsell, and ATC metrics Personalize recommendations and relevancy to boost loyalty and AOV
  26. 26. CURATE CHAL L ENGE Gracefully combining human and machine intelligence to maximize service & experience
  27. 27. CURATI ON WUTH FUSI ON Analytics to optimize the customer journey Manual relevancy tuning, where necessary Predictive merchandising
  28. 28. Today’s online buyers simply expect to find all the information they want on a company’s website.
  29. 29. Which of these KPIs is impacted by site search?
  30. 30. Curate the Experience, Augment Intelligence Enable precise control of the search and browse experience Refine the user experience through A/B testing of query pipelines Display the most relevant products to each shopper based on signals aggregation
  31. 31. “ We’ve seen dramatic bumps in conversion rates and some of those key success metrics for transactional revenue have seen a 50% increase since the migration.” M A R C D E S O R M E A U | S E N I O R M A N A G E R , D I G I T A L C U S T O M E R E X P E R I E N C E | L E N O V O
  32. 32. Register for our June 26th Webinar with Forrester Analyst Mike Gualtieri. • Lucidworks leadership position in Cognitive Search Wave • Cognitive Search’s critical role in ecommerce https://lucidworks.com/webinar/lucidworks -forrester-leader-in-cognitive-search-2019/
  33. 33. K YOUTH YOAN

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