Something happened in the early 2000s that completely disrupted the movie distribution industry and served as a huge lesson for improving sales within numerous industries worldwide.
This movie rental brand introduced a groundbreaking recommendation algorithm that managed to instantly turn a low-budget, fringe-comedy movie into a cult classic. The algorithm targeted offbeat comedy fans and recommended the film to just the right audiences that likely wouldn’t be able to find it without the help of the new recommendation system.
As positive ratings poured in, the algorithm introduced by this movie rental service amplified its promotion, leading to a big surge in DVD sales.
The movie is “Napoleon Dynamite,” and the company is Netflix, while this anecdote is a perfect segue into how algorithm- and AI-driven product discovery can turn niche offerings into profitable successes, driving revenue for the platform.
Want More Conversions? Improve Your Product Discovery
I probably don’t need to tell you how customer experience and product discovery make or break your sales figures. But I’ll do it anyway.
According to a recent survey by McKinsley, the two most important things your online shoppers want are easy site navigation and relevant products in front of them:
Think about it – when customers land on your site, they’re on a mission. They want what they want, and they want it fast. If they can’t find it easily, they’ll bounce off to your competitor’s site quicker than you can say lost sale.
So, how do you ensure that your store’s product search experience is the best it can be, leaving your customers delighted and coming back for more? Let’s dive in.
4 Ways to Enhance Your Store’s Product Search Experience
Optimize Your Search Bar
The search bar is the gateway to your store’s treasure trove of products. Make sure it’s prominent, easy to find, and offers autocomplete suggestions. This feature not only speeds up the search process but also helps customers discover relevant products they might not have known you offered.
Implement Natural Language Processing (NLP)
Gone are the days of rigid keyword-based searches. Text-based search is slow and limited as words are often not too friendly for describing specific items.
However, wordless search combined with the use of NLP allows your search engine to understand the intent behind the search queries, enabling it to deliver more accurate results. By analyzing the context of the search, NLP ensures that even misspelled or vague queries lead to relevant product suggestions.
Personalization
One size (or style) does not fit all, especially in e-commerce. This is why you must leverage customer data to personalize the search experience for each user.
Show them products based on their:
- Past purchase history
- Browsing behavior
- Preferences
By serving relevant recommendations, you enhance the user experience and increase the chances of upselling and cross-selling.
AI and Visual Search
There is simply no future of e-commerce without AI in the picture. According to Statista, 70% of e-commerce businesses in North America and Europe state that AI-driven technologies can boost their platform’s personalization, while 54% state it can help with their site search.
Perhaps the most effective way to use AI-powered technology to improve your e-commerce sales is visual search.
A picture is worth a thousand words, right? Visual search takes this concept to the next level by allowing users to search for products using images rather than text. By integrating visual search technology into your store, you empower customers to find products effortlessly, even if they struggle to describe them in words.
Boost Your Online Store Sales With Miros.ai Visual Search
In a landscape where product search is sub-optimal, and every lost sale due to bad product discovery represents lost revenue, the need for an effective and innovative solution grows.
Miros.ai is an innovative solution in the form of an AI-powered visual search e-commerce tool that is currently reshaping online shopping.
Unlike conventional methods relying only on keywords, Miros uses advanced visual AI for wordless search. It allows your shoppers to have a Pinterest-like shopping experience and get to the products they had in mind in mere seconds.
It works like this:
- The shopper inputs one text-based search query
- Taps on a couple of images that match their intent
- Miros.ai then accurately interprets the product images and delivers relevant results
Watch the video below to see how Miros.ai boosts e-commerce search accuracy and speed:
This intuitive approach not only enhances the shopping experience but also drives sales. It minimizes product tagging mistakes and allows your visitors to have an improved and more enjoyable shopping journey with minimized text search attempts. It also removes the need for manual product tagging and website cookies.
Case Studies and Tangible Numbers
Swap, a second-hand clothing retailer, for example, uses Miros to increase conversion rates by almost 5%, improve AOV by 8%, and boost GMV by 10%.
Momox, another Miros client, increased their GMV by 19%, their AOV by 11%, and ARPU by 10% – all that shortly after implementing Miros visual search.
Want to help your e-commerce and learn more about Miros? Book a quick demo here.
