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4 Uses of Machine Learning in Conversion Optimization
Machine learning has become a mainstay in the world of digital marketing, and we'll be seeing it come into new applications in the near future. But can it be used to help with conversion optimization? Absolute - and many big brands are already using machine learning in conversion optimization.
However, before diving into examples of machine learning in conversion optimization, it's essential to take a moment to break down what machine learning and conversion optimization are and how they can be combined to your benefit.
What is Conversion Optimization?
Conversion optimization is testing and optimizing your website to drive more sales. This is done by analyzing your users' behavior, understanding what leads to a conversion, and then making modifications to your website that increase the conversion rate.
This is done through A/B testing and other forms of testing. By using data that is collected from your website, you can determine which changes to your website cause a positive impact on your conversion rate. This is where machine learning comes in.
How Can Machine Learning Help with Conversion Optimization?
Machine learning is a branch of artificial intelligence that uses algorithms to perform tasks that humans typically perform. These tasks include image recognition, speech recognition, and even translation.
With this, you can use machine learning to analyze data on your website and then make changes to it that will increase your conversion rate. By using machine learning, you can:
- Recommend products based on your users' past buying habits
- Recommend content based on your users' past browsing behaviors
- Personalize your website to your user's interests and needs
- Create real-time reports that can be viewed by your team
The key to these features is that machine learning helps you optimize your website to the needs of your users.
4 Examples of Machine learning in Conversion Optimization
Machine learning has become a staple of conversion optimization because it's an essential part of designing and building websites. If you're not quite sold on the idea of machine learning in conversion optimization, then you'll want to check out these examples in action:
1. Recommendation Engines
A recommendation engine is a computer program that recommends items to users. Recommendation engines are quite literally everywhere nowadays and drive millions in sales. Statistics show that of all the machine learning use cases in the retail industry (worldwide), 30% of use cases fall under product recommendation engines.
Amazon
Amazon is one of the most well-known organizations that utilize recommendation engines to help drive more sales. Their recommendation engine is called Amazon-recommendations. This recommendation engine recommends items to users based on their past buying habits.
Hulu
Hulu is another example of a recommendation engine that takes user data and makes relevant suggestions for shows to watch. In this instance, machine learning is used for conversion optimization to encourage free trial users to pay for a full subscription after their 30-day trial is up.
Spotify
Finally, Spotify is also another example of a recommendation engine. It's a music streaming service that has over 100 million users across the globe. Based on their user's listening habits, Spotify recommends songs that they believe their users will enjoy.
While users do have the option to have a free account, they do have to sit through regular commercial breaks. That said, Spotify utilizes machine learning in conversion optimization to encourage users to upgrade to a premium plan and improve the user experience by eliminating the annoying commercials.
2. Real-Time Personalization
Real-time personalization is also a big part of conversion optimization, and it's one of the most effective ways to increase your conversions. In this instance, machine learning is used for conversion optimization to determine what content to show to each individual user based on their interests, needs, and other data points.
Hushly
On the Hushly website, we use machine learning to provide viewers with personalized content. We do this by using data that we've collected from our viewers. We take their viewing history, interests, and other data points and then determine what content to show to them based on that.
Amazon
Real-time personalization is also a big part of conversion optimization, and it's one of the most effective ways to increase your conversions. In this instance, machine learning is used for conversion optimization to determine what content to show to each user based on their interests, needs, and other data points.
3. Real-Time Product Rankings
You can even use machine learning to create real-time product rankings. If you can determine what products are most likely to be purchased, you can optimize your site to give users the best experience possible.
These product recommendations are more powerful than you may think. Research shows that 54% of retailers report that product recommendations are the key driver of the average order value in the customer purchase. Meanwhile, 75% of customers are more likely to buy based on personalized recommendations.
4. Real-Time Data Collection/Reporting
Finally, machine learning can be utilized in conversion optimization through real-time data collection and reporting. Machine learning can be used to collect data, analyze it, and then determine what changes to your website will have the most impact on your conversion rate.
Google Analytics
Google Analytics is one of the most widely used analytics platforms on the internet. It allows you to collect a vast array of data that can be analyzed to determine what is working and what isn't so you can make the necessary changes to improve engagement and overall conversions.
Social Media Insights
Social Media Insights is another example of machine learning used for conversion optimization. It allows you to see which posts are receiving the most engagement and which posts are not performing as well. This data can be used to make changes to your social media marketing strategy.
Boost Your Sales with Hushly
Here at Hushly, understand just how powerful machine learning can be in conversion optimization.
That's why we've built a machine learning algorithm that recommends the best products to our users based on their interests and past buying habits. You can also use machine learning to create real-time reports that your team can view and make changes to your website to increase conversion rates.
It's time to take a look a look for yourself! Book your free demo today!
The post 4 Uses of Machine Learning in Conversion Optimization appeared first on Hushly.
