Did you know you can increase your revenue by 31% by just displaying related products in Shopify pages?
As an online retailer, you will almost certainly promote your products and discounts to your customers. However, in this era of personalization, this wouldn’t be enough.
Consumers would rather see products that specifically interest them than general suggestions. By configuring personalized related products sections, you can increase customer engagement and conversions.
It may seem daunting or time-consuming to tap into the interests of each visitor to your store and customize recommendations/related product sections for each shopper. However, with the right AI-powered related products recommendation engine, such as Perzonalization, you can set up personalized related products in Shopify in no time.
What are related products?
The term “related products” refers to the suggested purchases that appear near the shopper’s current location. In simple words, your shoppers will see a list of related/recommended products whenever they are on one of your product pages.
Through the related products section, you can recommend upsell and cross-sell products as well as newly stocked, trending, or on-sale products.
Benefits of AI-powered related products in Shopify
Displaying related products in Shopify pages can have a significant impact on your business. However, the products you recommend to your customers must meet their needs and make sense, given their purchasing patterns.
If done correctly, this can help you build stronger relationships with your clientele, boost your average order value (AOV), and keep visitors on your site for longer.
Here are some of the key benefits of AI-powered product recommendations in Shopify.
Increase revenue
Related products in Shopify allow you to keep showing products to customers that they are more likely to buy, which boosts your conversion rate and sales.
Having recommendations/related products in place is a surefire way to increase sales. Recommendations make up an average of 31% of a store’s revenue.
Improves customer experience
Retail Customer Experience found that 63% of online shoppers anticipate a personalized experience. They believe that brands should comprehend their behaviors and habits and provide customized shopping experiences from start to finish.
Therefore, customers anticipate receiving targeted marketing and a personalized experience when they shop at your online store. You can satisfy these expectations by recommending additional purchases to customers based on what they’ve already made.
AI-powered Perzonalization Shopify app can do this for you with little to no effort.
When the user experience is improved, there is a greater chance that the customer will be satisfied. And satisfied customers will pay more and more likely to return to your store.
Increase AOV (Average Order Value)
AI-powered related products sections can significantly improve your AOV. According to Salesforce, related products are responsible for 24% of orders and 26% of revenue, illustrating the correlation between product recommendations and higher earnings.
You can use cross-selling and upselling recommendation methods in your related products sections. There is a difference between cross-selling and upselling, but both involve showcasing complementary products.
Cross-selling is the process of drawing a customer’s attention to supplementary goods and services that enhance the value of the main offering.
You upsell a customer when you present them with a more expensive option of the same product they were just looking at.
Your suggestions in the “Related Products” section can include either of these items.
If your cross-selling efforts are successful, your customers will buy more of your products. If you’re able to successfully upsell to a customer, they’ll buy a more expensive item from you. In either scenario, the average order value rises, which in turn drives up your total revenue.
Increases engagement
You can keep customers engaged in shopping at your store by strategically positioning related products in key locations throughout your store.
A new customer will immediately begin browsing your selection of goods once they land on your website. They would browse a few product pages, reach the end of one, and then decide to leave the store. Customers are more likely to remain on your store and engage with your content if you provide them with relevant product recommendations at the end of each product page.
Reduce cart abandonment
Customers are less likely to abandon their purchases when they take advantage of your store’s recommendation features. Personalized related product recommendations can reduce the rate of shopping cart abandonment by up to 4.35%.
Increase conversions
All your marketing efforts should be centered around conversions. All your efforts will go in vain if your visitors don’t end up purchasing from you.
Conversion rates for online shops typically hover around 2.86%. If you don’t implement any new growth strategies, you’ll be leaving money on the table by alienating potential customers. Many online retailers have found that providing personalized product recommendations is the most effective way to help them increase conversions without appearing intrusive to customers.
Increases time spent on store
Shoppers will spend more time in your Shopify store if they are actively engaged in your website. When customers spend more time on your website, they are more likely to purchase from you. According to Salesforce, consumers who clicked on a product recommendation stayed on the site for an extra 12.9 minutes, compared to just 2.9 minutes for those who didn’t.
Increases the number of returning customers
If customers have a good time while they’re shopping in your Shopify store, they’re more likely to buy from you again in the future. Customers would find it more convenient to shop at your store if you display personalized related products recommendations on your store, and they would return to your store when they were planning to make another purchase.
In fact, if a website makes product recommendations, 56% more customers will return. Customers who chose to explore a related product were nearly twice as likely to return to the site, according to research by Salesforce.
Drive traffic
Customers are encouraged to provide positive feedback about your website across a variety of online platforms and social media when you use a solid recommendation system. This can encourage other prospective customers to visit your website and make purchases of your goods.
Perzonalization – The best Shopify app for displaying AI-powered related products
Perzonalization is an AI-powered personalization tool. It encourages customers to take action by recommending related products and cross-sell and upsell products using its predictive AI algorithm. This, in turn, leads to an increase in sales.
This real-time AI-powered micro-segmentation technology has personalized 5 billion pages helping over 20 million active online shoppers make smart buying decisions. Perzonalization helps Shopify business owners to increase their revenue by 15% with a minimum ROI of 10x.
Perzonalization is a cutting-edge real-time artificial intelligence platform that helps Shopify store owners make more informed product recommendations to their customers. When installed, it allows for the display of related products across the store’s various pages (category, product, cart, and checkout).
The Perzonalization app can also be set to automatically send abandoned cart reminder emails to customers. In addition, the tool can use both consumer behaviors and its own predictive and real-time artificial intelligence technology to craft one-of-a-kind personalized email messages.
Perzonalization’s strategies to display related products
The recommendation engine of Perzonalization displays personalized product suggestions and content based on each shopper’s specific shopping needs and preferences. Here’s how this tool is different from its competitors.
Instantly operational
Shoppers get related products suggestions right after you list the products in the catalog. As Perzonalization’s product recommendation software learns about shoppers’ tastes and preferences, the experience becomes increasingly personalized.
Predicts shoppers preferences
The product recommendation engine used by Perzonalization can quickly learn about shoppers’ intentions. It takes into account the types of pages that customers browse, the items that are added to their shopping carts, and the orders that are placed.
Real-time filtering
When a shopper leaves or returns to the site, the Perzonalization tool re-evaluates all suggestions. This ensures that the most up-to-date data is utilized when estimating the information necessary for a recommendation.
Customizable recommendations
You have full control over which products are shown to which users on your site, thanks to the advanced features of Perzonalization.
Flawless design
The style of your Shopify store will be taken into account when creating related products sections. You also have the option to preview the design and make adjustments to it as you see fit.
Individual related products section tracking
Perzonalization’s recommendation engine is able to track the performance of each widget, allowing you to determine which option and recommendation are most suitable for your Shopify website.
Omni-channel analysis
Information about a customer’s preferences is aggregated from their use of the website, mobile app, and email to form a holistic portrait of their shopping habits and preferences. Thus, personalized recommendations across channels can be both accurate and consistent.
An online retailer’s job entails not only coming up with advertising plans for eCommerce shops but also coming up with ways to improve the customers’ overall shopping experience. Implementing related products recommendation tools on your e-commerce website is, therefore, the optimal strategy.