Product personalisation models matter
Products tailored to customer needs are better for the customer, and improve sales outcomes for insurers. This is because a personalised web experience creates more customer value and greater satisfaction. Optalitix Models enables personalisation by hosting any model as an API, and enabling web journeys that are responsive to the customers' needs. According to Yieldify, 74% of ecommerce companies have a website personalisation program. For this reason, 360i estimate the recommendation engine size will be $2.7bn in 2027.
Why is personalisation important?
Mckinsey surveys indicate that 71% of consumers expect personalisation as part of their online expeirence, and 76% get frustrated when they don't find it. Our data shows that there is a significant uplift in sales when personalisation is applied, with customers experiencing increases of over 50% in sales in the first year after personalisation was introduced. So if you want an extra boost to your sales, and to impress your customers, personalisation is an easy option to explore.
Understand your customer
Knowing your customer enables a sales journey that is customised for them. This involves a deeper understanding of the type of customers that explore your offering, the customers who go on to buy, and the products they choose. Setting up your website with an integratkion to Optalitix Models means you are learning about your customers from day 1.
No-Code makes model deployment simple
Optalitix Models enables rapid system deployment to reduce the time to go live with new customer insights to test and learn, with faster updates using our rapid deployment capability. Integration is simple, with automatic hosted APIs and developer documentation to simplify the development process. Model deployments take less than 3 minutes, so customer can make regular changes to your personalisation engine parameters.