If you have an eCommerce website and are looking for ways to increase conversions and average order value, then one way to achieve this is using a third party to personalise the user's experience.
The industry standard of personalisation on your eCommerce site will lead the expected benchmark results of:
- 5% increase in the Average Order Value
- 10% increase in the Conversion Rate
These expected results can be increased/decreased within the spreadsheet
As a helping hand to cut through all the blurb and other resources available for all the providers, we have compared the costs for the following personalisation providers; PureClarity, Bunting, Omniconvert, Personyze & 4Tell.
- Want to know the ROI for personalisation on my eCommerce site?
- Want to know the effect on sales revenue, the volume of orders and profit in doing personalisation?
- Want to know how your current personalisation provider compares against the competition?
- Thinking about changing your current personalisation provider?
- Interested to know how much costs vary for different personalisation providers?
What do I need to do to find the cost of each personalisation provider?
Download the Excel spreadsheet where you can compare how much each provider will cost the business (we have broken down the expenses on a daily, weekly, monthly, quarterly and yearly basis). We have also calculated the impact in terms of the extra volume orders, revenue generated, profit and ROI.
Spreadsheet to compare personalisation providers (70KB)
The only information you need will be based on five key statistics over a year.
- The number of pageviews the website generated
- Amount of revenue generated
- Average Order Value
- Your current conversion rate
- What's your current profit margin
For ease, the statistics take into account 'flat-lining' any seasonal business statistics which could get a better gauge on calculating the potential costs.
Is the cheapest option right for my eCommerce website?
So you have used the provided spreadsheet so you now know the costs. Is it a matter of just choosing the cheapest? While cost is important, unfortunately, there are many other aspects when choosing a personalisation provider and the decision shouldn’t be dictated by price alone.
Depending on the needs and wants it’s recommended you include other factors such as:
- Other personalisation tools eg: personalised email campaigns, cart abandonment emails
If you fancy a chat about choosing a personalisation provider and to get you closer to making a decision, feel free to drop us an email [email protected] or give us a call on 0114 279 7779 to speak to a Quban.