e-Commerce Site Search – Quantitative benefits
‘Personalized search results’ is the ability to showcase unique, relevant, and accurate search results for each visitor that is personally relevant. Personalized eCommerce search has a great impact on business metrics. All our clients ask us how much of upliftment in buy conversion can be expected from the Tagalys search. The truth is we do not control that directly, but we do control conversion to product discovery. This leads to an uplift to buy conversion rate. So what metrics do we directly or indirectly influence?
Tagalys will reduce the bounce rate for visitors who search due to the quality of search results
There will be an increase in product views if the product thumbnails shown in the results are personally relevant to each visitor.
Listing page to View Conversion rate:
Our goal is to ensure more visitors to view products. There is a direct correlation to product views and conversion rates, especially for visitors who search. More the product views per visitor, the higher the buy conversion rate. Our primary goal at Tagalys is to improve this conversion rate as that is what our engine has control over.
We have noticed a 20% to 40% improvement in order value or basket value, with personalized search.
Frequency of visits:
As results are identifiable by visitors and user experience has improved, we have noticed a 10% to 20% rise in the frequency of visits before purchase. Our hypothesis here is that this segment is probably undecided visitors who revisit the site and continue shopping. There is an increased probability that this segment could have been lost after the second visit.
Reducing time to transact:
While the frequency of visits has increased for a small subset of the search audience, there is an overall decrease in the time to transact by over 40%. Our hypothesis here is that these visitors are more decided. They find products faster, convinced by details on the product page, and trust the retailer. Improved product discovery, helped reduce time thus time to transact.
Visitors who search:
Across most of our clients, search volume is between 6% to 15% of overall traffic, there has been a 50% jump in the overall percentage of search. While returning visitors will continue to search, our hypothesis of this increase is due to the increase in new visitors who search. This behavioral shift is driven by UI changes, the addition of a clear call to action and best practices of site search for eCommerce
We cannot directly take credit for all the increase in revenue. It has also be tied with the trust a retailer has created with its audience. The details (images, specs, etc.,) on the product page would make the decision easy. The design of the product page, internet connectivity, and payment gateway reliability could be other determinants. But, due to the increase in metrics 1-7, there is a direct correlation to the increase in revenue.
Tagalys maximizes conversion rate & gives merchants visual control of products displayed in Site Search, Category pages and Product Recommendations at their online store. To know more about our solutions and features, get in touch with us now.