Coveo, the experience intelligence platform leader for enterprises, today announced Coveo for Commerce, an AI-powered solution that will drive the next era of personalized, profitable omnichannel customer interactions martech news. Coveo for Commerce enhances product and content discoverability, detects buyer intent, and automatically merchandizes personalized product recommendations that make business sense.
“The experience economy is built on data and AI. Tech-first companies have trained people to expect personalized, relevant, and unified experiences. With Coveo every business can be an intelligent experience leader,” said Coveo Chairman and CEO Louis Tetu. “But personalization alone is not enough; businesses also want to increase the profitability of their customer lifetime journeys. Coveo for Commerce enables businesses to do that elegantly, and compete in the data and AI take-all economy.”
Organizations using Coveo for Commerce can elevate their customers’ experiences and – in the process – grow their businesses.
Harness all catalog content and product information
Coveo for Commerce connects and unifies product catalogs and product-related content to provide shoppers with comprehensive, relevant information in their shopping experience. Structured product catalog data can blend with unstructured content, e.g. community reviews and YouTube videos. Digital, eCommerce and marketing leaders can offer richer shopping experiences that combine information types to enhance the shopper’s journey.
Help shoppers find what they want, and what they need
If customers can’t find the products they’re looking for, fast, they’re not buying them. It’s that simple. Coveo for Commerce gives merchandisers the reassurance that everything in their catalog is searchable, and that the most relevant products are presented first – increasing discoverability and add-to-cart conversions. All this without the need to manually build rules for every possible promotion.
Understand buyer intent to predict what to offer
Shoppers provide clues to their intent at every interaction. Coveo for Commerce gathers those shopper signals, connecting the dots in the customer journey, and applies machine learning to automatically predict what is most relevant to each shopper. Coveo’s Automatic Relevance Tuning (ART) uses past behavior from all shoppers to predict the content that will be most useful to each new shopper in turn. And it is constantly learning – adapting to new trends and continuously improving. Each shopper’s experience is tailored to them, including highly individualized catalog search query suggestions, product recommendations, navigational facets and search results ranking.
Streamline the shopping experience
Retailers, distributors and brands with highly complex product catalogs can now help shoppers quickly find and select what they want. Coveo’s Dynamic Navigation Experience (DNE) applies advanced machine learning to automatically change the order of search facets, and facet values, based on shopper queries, to help them quickly narrow down results to the item they need. By presenting dynamic, intent-driven facets and values, DNE helps refine searches, find the right product faster, and increases add-to-cart conversion.
Optimize your digital business
Coveo recommends products not just based on the personal attributes of the shopper, but also on what makes profitable business sense. Coveo for Commerce optimizes in real time to increase conversions from products with higher margins, as well as promoted and highly rated products. Coveo unifies context and intent data content from multiple sources across the enterprise. Those sources, which include customer support cases and product reviews, inform better buying decisions and increase customer value from upselling and repeat buying.
Leading global marketing technology solutions provider STRATACACHE today announced a strategic technology partnership with Hakuhodo DY Holdings, a well-established international marketing, advertising and communications company based in Japan, to jointly develop innovative customer engagement experiences to influence shopper behavior and drive digital transformation martech news.This partnership comes in the midst of a retail evolution driven by shifting consumer demands, which is seeing more brands and retailers recognizing the value of digital transformation, leveraging advanced marketing technologies to boost in-store sales.The Hakuhodo DY Group Digital Location Media Business Center brings marketing methods which reflect how “everyday lives are changing as a result of digitalization and technology.” STRATACACHE’s complementary marketing technology offering includes a full in-house suite of marketing technology hardware, software and services to deliver scalable, personalized customer experiences.
Through STRATACACHE’s in-house retail analytics platform, Walkbase, retailers are empowered to learn deeply about their customers’ shopping preferences and behaviors, allowing for personalized shopper interaction.The collaborative partnership offers a unique combination of STRATACACHE’s digital technology solutions and Hakuhodo DY Holdings’s marketing technology capabilities.
The groups will conceptualize, develop and test new consumer experience strategies and scalable transformative technology solutions, providing a competitive edge in rethinking retail experiences and revolutionizing experiential retail.
Further, the two companies will research new methods to enhance path to purchase marketing and develop best-in-class solutions for retailers, manufacturers and media companies.Manish Kumar, Managing Director & SVP-APAC of STRATACACHE, said, “This collaboration fits into our strategic regional growth plan, strengthens our continual efforts to better serve our customers and helps to capture the immense potential in Japan and the expansive APAC region.”Chris Riegel, CEO of STRATACACHE, added, “At STRATACACHE, we create strategic partnerships to bring digital display, sensor, mobile and emerging technology to market, at scale.
STRATACACHE strongly believes in technology innovation and adding value to the in-store experience our customers are delivering to their shoppers by continually enhancing our solution offering.
This partnership with Hakuhodo DY Group’s robust marketing and solid business networks make our partnership a clear win-win.”“Through this partnership, STRATACACHE is unlocking marketing and media capabilities and the extensive customer base of one of the largest integrated marketing solutions companies in Japan.
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