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How to Improve Average Order Value and Conversions With Product-Based Widgets

Riya
|
April 1, 2023
|
Min read

Merchants who use product recommendations effectively on their eCommerce sites know how powerful the feature could be. Product recommendations boost user engagement, enhance the experience, increase average order value (AOV), and boost conversions. In other words, they make shoppers discover products of their interest and positively influence the bottom line.However, curating the right product recommendations strategy is the key. Thus, with Tagalys's new feature—Product-Based Widgets—merchants can do this effectively. This feature takes the standard non-merchandisable widgets a level up by allowing retailers enhanced merchandising flexibility and customisation.Currently, Tagalys offers two use cases for product-based widgets: similar products and cross-selling products. So let’s dive deeper into the two.

What’s Unique About the New Feature?

The new feature of Tagalys allows merchants to automate or hand-pick product recommendations. In addition, merchants can also select a hybrid option that offers the best of both worlds.

  • Automated

Merchants can set automated rules for each product type/category or any attribute. In addition, they can set rules to cover multiple products at once under the rule. For example, a fashion apparel merchant may showcase other shirts as recommended products when a user views any shirts. But they can also set the rules to show the same or different colored shirts.

  • Hand-Picked

As the name goes, merchants can manually pick which products they would like shoppers to see. This allows them to add products they know customers would love manually.

  • Hybrid

This is a blend of automated and hand-picked settings. For example, the merchant may set automation rules. Along with those rules, they can also add new products, remove the existing ones, or pin some products. Hybrid is the best example of how retailers can make data-driven and intuitive decisions.

What Merchandising Options Are Available?

Retailers can merchandise the product recommendations in the following ways:

1. Sequencing

Sequencing means arranging products in a particular manner. In product-based widgets, merchants can sort sequences based on type/category/color, and more. They can also refine sequences to make custom changes to the automated sort order.

2. Pinning and Scheduling Hand-Picked Products

Merchants can pin products on any position they want by overriding the automated results or hand-picking their sequence.They can also schedule products, allowing them to gain complete control over when a sort preference needs to be displayed. For example, merchants can choose to showcase a product for up to a specific time or after a particular time. This is especially helpful when running a time-bound campaign, like the holiday season sales.

3. Curating

Lastly, merchants can curate their own sort order of similar products by removing certain products from the sequence.

How Does This Feature Help Tagalys Merchants?

The latest Product-Based Widget enables merchants to make their own recommendations setup. Additionally:

  • Except for smart widgets, the other recommendation widgets were originally non-merchandisable in Tagalys. Merchants didn’t have the flexibility to override the algorithm or hand-pick products. The new feature allows retailers customisation and merchandising flexibility.
  • Merchants can now merchandise products by sequencing, pinning and scheduling, and curating. This allows merchants added flexibility to display unique product recommendations.
  • The newly introduced cross-selling widget allows merchants to increase their chances of boosting sales and increasing AOV. Not only this, but also it will boost shoppers’ experience and engagement.

Use Cases for Product-Based Widget

  • Similar Products

Similar products display product recommendations based on similar attributes and tags as the source product. The algorithm matches the similarities, like type/color/category, and more, to show products related to the source.Merchants can set up rules to automatically pull similar products and display them to users.

  • Cross-Selling

Cross-selling means showcasing products that are related to or complement the source product. For example, an apparel retailer suggests skirts, shoes, and accessories to visitors browsing a tee shirt. “Complete the look” is often used to showcase complementary and related products.

Conclusion

The Product-Based Widget can be a game-changer for any eCommerce business. Merchants now have the added flexibility and customisation to override the algorithm, tweak sorting preferences, or group the products. This feature makes recommending similar products and cross-selling complementary or related ones effective.Merchants can get a demo of Product-Based Widgets by contacting us.

The Evolution of KYC

KYC is a fundamental regulatory requirement aimed at preventing money laundering, fraud, and identity theft. Historically, KYC involved manual verification processes that required customers to submit physical documents, leading to delays and potential errors. The advent of digital KYC has transformed this space, enabling faster, more accurate, and seamless verification processes.

Image courtesy of Vlada Karpovich via Pexels

Vision and Approach

Neokred is at the forefront of this digital transformation, offering cutting-edge solutions that simplify and streamline KYC procedures. Their approach is rooted in leveraging advanced technologies such as artificial intelligence (AI), machine learning (ML), and blockchain to create a secure, efficient, and user-friendly KYC process.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”

Key Features of Digital KYC Solution

  • AI-Driven Verification
    Neokred uses sophisticated AI algorithms to verify customer identities in real-time. By analyzing patterns and detecting anomalies, AI ensures that only genuine documents are accepted, significantly reducing the risk of fraud.
  • Seamless User Experience
    The platform is designed with the end-user in mind, offering an intuitive interface that guides customers through the verification process effortlessly. Users can upload documents, capture selfies, and complete verification steps from the comfort of their homes.
  • Blockchain Security
    Blockchain technology enhances the security of KYC data by creating an immutable ledger that is resistant to tampering. This ensures that customer data is protected and can be audited with transparency.

Success Stories

Neokred is at the forefront of this digital transformation, offering cutting-edge solutions that simplify and streamline KYC procedures. Their approach is rooted in leveraging advanced technologies such as artificial intelligence (AI), machine learning (ML), and blockchain to create a secure, efficient, and user-friendly KYC process.

Conclusion

Digital KYC solution represents a significant leap forward in the way businesses approach identity verification. By harnessing the power of AI, blockchain, and seamless integration, not only simplifies the KYC process but also enhances security and compliance. For businesses looking to stay ahead in a competitive market, embracing innovation could be the key to unlocking greater efficiency, cost savings, and customer satisfaction.

Share it with the world!

Merchants who use product recommendations effectively on their eCommerce sites know how powerful the feature could be. Product recommendations boost user engagement, enhance the experience, increase average order value (AOV), and boost conversions. In other words, they make shoppers discover products of their interest and positively influence the bottom line.However, curating the right product recommendations strategy is the key. Thus, with Tagalys's new feature—Product-Based Widgets—merchants can do this effectively. This feature takes the standard non-merchandisable widgets a level up by allowing retailers enhanced merchandising flexibility and customisation.Currently, Tagalys offers two use cases for product-based widgets: similar products and cross-selling products. So let’s dive deeper into the two.

What’s Unique About the New Feature?

The new feature of Tagalys allows merchants to automate or hand-pick product recommendations. In addition, merchants can also select a hybrid option that offers the best of both worlds.

  • Automated

Merchants can set automated rules for each product type/category or any attribute. In addition, they can set rules to cover multiple products at once under the rule. For example, a fashion apparel merchant may showcase other shirts as recommended products when a user views any shirts. But they can also set the rules to show the same or different colored shirts.

  • Hand-Picked

As the name goes, merchants can manually pick which products they would like shoppers to see. This allows them to add products they know customers would love manually.

  • Hybrid

This is a blend of automated and hand-picked settings. For example, the merchant may set automation rules. Along with those rules, they can also add new products, remove the existing ones, or pin some products. Hybrid is the best example of how retailers can make data-driven and intuitive decisions.

What Merchandising Options Are Available?

Retailers can merchandise the product recommendations in the following ways:

1. Sequencing

Sequencing means arranging products in a particular manner. In product-based widgets, merchants can sort sequences based on type/category/color, and more. They can also refine sequences to make custom changes to the automated sort order.

2. Pinning and Scheduling Hand-Picked Products

Merchants can pin products on any position they want by overriding the automated results or hand-picking their sequence.They can also schedule products, allowing them to gain complete control over when a sort preference needs to be displayed. For example, merchants can choose to showcase a product for up to a specific time or after a particular time. This is especially helpful when running a time-bound campaign, like the holiday season sales.

3. Curating

Lastly, merchants can curate their own sort order of similar products by removing certain products from the sequence.

How Does This Feature Help Tagalys Merchants?

The latest Product-Based Widget enables merchants to make their own recommendations setup. Additionally:

  • Except for smart widgets, the other recommendation widgets were originally non-merchandisable in Tagalys. Merchants didn’t have the flexibility to override the algorithm or hand-pick products. The new feature allows retailers customisation and merchandising flexibility.
  • Merchants can now merchandise products by sequencing, pinning and scheduling, and curating. This allows merchants added flexibility to display unique product recommendations.
  • The newly introduced cross-selling widget allows merchants to increase their chances of boosting sales and increasing AOV. Not only this, but also it will boost shoppers’ experience and engagement.

Use Cases for Product-Based Widget

  • Similar Products

Similar products display product recommendations based on similar attributes and tags as the source product. The algorithm matches the similarities, like type/color/category, and more, to show products related to the source.Merchants can set up rules to automatically pull similar products and display them to users.

  • Cross-Selling

Cross-selling means showcasing products that are related to or complement the source product. For example, an apparel retailer suggests skirts, shoes, and accessories to visitors browsing a tee shirt. “Complete the look” is often used to showcase complementary and related products.

Conclusion

The Product-Based Widget can be a game-changer for any eCommerce business. Merchants now have the added flexibility and customisation to override the algorithm, tweak sorting preferences, or group the products. This feature makes recommending similar products and cross-selling complementary or related ones effective.Merchants can get a demo of Product-Based Widgets by contacting us.

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