Magazine Article | June 17, 2016

Personalized Recommendations Drive Double-Digit Conversion Lift

Source: Innovative Retail Technologies

By Matt Pillar, chief editor

July 2016 Innovative Retail Technologies

One-to-one customer engagement enabled by machine learning yields a 13 percent reduction in bounce rate and a 33 percent average order value improvement at Marmot.

A recent study from Gallup shed light on just how valuable it is to invest in customer engagement. Fully engaged customers, defined as those who have had a measurable reaction, connection, or experience with your brand, represent a 23 percent share of wallet, profitability, revenue, and relationship growth premium compared to average shoppers. By contrast, the study found that disengaged customers — those who have no emotional connection to your brand — represent a 13 percent discount in those same measures.