On September 26th, Nosto’s London crew gathered at a top London hotel for the eCommerce Awards for Excellence. Gladrags were donned and there was excitement in the air. The results? Allow us to recap…
Nosto + Knomo = Personalization Success
Our AI-powered personalization solution we integrated for bag and accessory brand Knomo was celebrated for its stellar results. By analyzing visitors’ online shopping sessions, Knomo customers each receive relevant, real-time product recommendations, personalized Facebook ads and emails, and triggered pop-ups. Knomo is as obsessive about delivering a superlative shopping experience to their customers as we are, and together we’ve implemented some of our most ambitious and effective personalization strategies.
The results have been impressive: since going live with Nosto’s personalization technology, Knomo has seen a 16% increase in Average Order Value from onsite product recommendations, a 60% increase in conversions from using onsite pop-ups targeting cart abandoners, and a 10x Return on Ad Spend via Facebook retargeting.
And it seems the judges agreed! At the beginning of the night, we won ‘Best Use of Personalization’ – an award that our team* is extremely proud of receiving.
*We should point out that the below image is not actually of a Nosto team member, but we suspect we acted in a very similar manner to noted Academy Award winner Eddie Redmayne.
Transforming Retail Through AI-Powered Experiences
But that wasn’t the end of the excitement. Nosto was also recognized for ‘Best Use of AI’. Second time around, we* were more channeling this (*again, while Adele isn’t officially part of the Nosto team – yet – she does illustrate our emotional state at being two time award winners):
Both awards recognized the power of our AI-powered Ecommerce Intelligence Engine, which has been built by a team of PhDs and Data Scientists, using state-of-the-art machine learning algorithms. It’s analyzed thousands of online stores and billions of shopping journeys, allowing us to predict and automatically deliver the most relevant experiences to customers, driving business growth for online retailers.
The ‘Best Use of AI’ award was particularly well timed, because while we’ve just recently launched our AI-powered offering which transforms the way customers interact with brands online.
Segmentation & Insights and Onsite Content Personalization
Our new AI-Powered Segmentation & Insights and Onsite Content Personalization offering analyzes customers in real-time, segmenting them while they’re browsing and automatically delivering them a tailored experience depending on their place in the funnel.
Crucially, we use the behavioral data gained from observing shoppers browse rather than merely the transactional data gleaned when they buy. Since the latter accounts for just 1.6% of data captured, the power of this behavioral data is enormous. And it’s available in real-time, which means these insights can be actioned as the customer browses, rather than just collected at the end of their session ready to use on their next visit.
Missed our big announcement in September?
Feel free to chat with us 1:1 to get a first-hand look at how Segmentation & Insights and Onsite Content Personalization is changing the game when it comes to tailoring the retail journey.