Find out what similar products really serve.
Users go to the product page for various reasons and via many different channels. Google search results, price comparison sites and advertising redirect people to it. Customers usually do not know exactly what they want to buy, but they only have a general idea of how this product should look. That is why it is so important to use the strategies on the product page to help customers decide on the purchase and at the same time bring profits to your business. There is a solution that perfectly meets these two assumptions: recommendations of similar products.
According to QuarticOn specialists, as many as 98% of new users on the store's website are not determined to buy. In addition to the fact that they undoubtedly facilitate the shopping process, increasing customer satisfaction, they have one more important function: they enable intelligent management of the assortment. In this article, we discover what similar products really serve.
Certainly, your e-store has faced the situation when the product that was available on the site was sold out. What will the customer do when it turns out that the product they are interested in is out of stock? They will find it in the competitors' store! There is also a second option: they will buy another from your offer. If you design the unavailable product’s page in a way that it will stop the customer in the store and encourage them to buy an alternative product! The main character of our today's article is: recommendations of similar products.
Let's look at this - only seemingly - difficult situation from a different perspective:
First: the product was sold out because the customers liked it and there is a demand for it. Use this information!
Second: if the product sells so well, it means that it effectively attracts customers' attention and brings them to your store. It will still do it! It's a chance for you to sell other items from the offer.
At this point, present products similar to the one currently displayed. A customer who is aware of their needs will look for a suitable alternative to an already unavailable product. Recommending similar products will make the customers find products in your store instead of starting to search for competition.
This strategy will also help you:
- increase the conversion;
- lower bounce rate;
- increase the time spent on the site.
Too long delivery time, so the customer goes to...
... competition? Not necessarily! For sure, they will start looking for an alternative that will be delivered earlier. It's up to you whether they can quickly and efficiently find the right product in your offer. Condition: it should be presented to the customers. Remember the most important thing- the visitor in this case knows exactly what they want to buy- for example, a sports watch as a gift for their brother. What's more, they cannot put it off later, because he celebrates his birthday in three days time.
The customers will make a purchase in your e-store if finding the right item costs them less time and effort than going to the competition. It is important that your recommendation system works dynamically, which allows you to show the right offer in real time. The recommendation engine of QuarticOn uses artificial intelligence - based algorithms that record the behaviour of each user individually and thus can create the most effective links between products. Only the faultless selection of the product will convince the customer to add it to the basket. In this case, it will be a similar product with a shorter delivery time.
Everything is correct, except for the price
A customer who can afford to buy a top-class watch will buy it anyway. Many people, however, can be discouraged by the prices. It does not change the fact that they are still interested in buying a watch, so they will look for a cheaper equivalent. And they will surely reach for it, as long as you present it within their sight! Based on modern technology, the intelligent algorithm will examine their preferences and present similar products, but with slightly lower parameters and thus - at an affordable price. The customer will see them in the recommendation frame, displayed just below the currently viewed product.
What can you achieve with similar products?
- You will reach various groups of clients who do not even have to go to the next page to see the product perfectly matched to their preferences;
- You will increase customer’s satisfaction, who will surely appreciate a well-matched offer;
- You will stop the user on the site
- You will decrease the bounce rate;
- You will increase the conversion;
- You will increase sales: a customer who can afford to buy an expensive product, will buy it anyway, and the rest will buy cheaper but similar products.