Personalise shopping experiences to boost conversion rates with Nosto
22 November 2022
With online shoppers becoming increasingly impatient and fickle, and customer acquisition costs constantly rising… e-retailers know that personalising the shopping experience is the new goldmine, not only in physical shops but also, and above all, online.
Nosto, a Finnish company founded by e-commerce entrepreneurs, was originally set up to generate product recommendations based on algorithms that enable cross-selling. With 200 employees and offices in Helsinki, New York, London, Paris, Berlin and, most recently, Sydney, Nosto can boast a seamless global presence and a dynamic market with numerous retail clients (Eden Park, Le Tanneur, Lidl, HP, Columbia…) as well as numerous e-commerce partners that need no introduction (Prestashop, Shopify Plus, Salesforce…).
Nosto’s mission: to create personalised shopping experiences
With the help of numerous technological integrations – such as e-learning and algorithms – Nosto offers a range of solutions and products that enable you to stay one step ahead of your current and future customers and, in turn, build their loyalty. In short, Nosto helps e-retailers reduce bounce rates and increase conversion rates by an average of 10% to 30% through A/B testing, the catalogue explorer, insights and recommendations, product recommendations, personalised emails, and so on.
Today, an e-retailer not using Nosto only has access to transactional data relating to their customers and products, but lacks access to behavioural data – which accounts for an average of 98 per cent of an e-commerce website’s data – and which enables the personalisation of online shopping experiences.
- How does it work?
When you visit a website and give your consent to cookies, companies such as Nosto can track your behaviour in relation to the products on the site. Subsequently, when you return to the site, the products you have previously interacted with are suggested again, or new products are shown to you based on your preferences, which have been analysed following your previous visits to the site in question.
Using PIM to personalise shopping experiences
As plug-and-play technologies, Nosto and Quable work together and complement each other perfectly with a single aim: to make the experience of your visitors and future buyers as personalised as possible. To promote and recommend products based on visitor behaviour, Nosto requires information (product data, descriptions, images, media, ingredients, etc.) that is reliable, high-quality and systematically updated – which is the core strength of the Quable PIM solution. Product recommendations are crucial for turnover: they account for around 10 per cent of a retailer’s revenue and can increase the conversion rate by 10 to 30 per cent.
The strength of the Nosto/Quable partnership lies in providing all the necessary product information (such as high-quality product listings, for example) to maximise the personalisation of the shopping experience, building on a solid foundation of product information supplied by the Quable PIM.
Conclusion
A customer visiting your site for the first time, or a loyal customer who has lost count of how many times they’ve visited, will therefore not see the same products or the same information. Their shopping experience will be personalised according to their tastes and behaviour, and the relevance of this precise personalisation also relies on the reliable, high-quality data provided by the PIM solution in this context.
The Quable/Nosto partnership therefore ensures the most personalised – and thus the most relevant – shopping experience possible. What results can you expect? Higher average basket values, an increasing conversion rate and a growing conversion rate.