The ability to discern meaningful patterns, where other just sense inchoate information, is what distinguishes pioneers from the rest of the pack. Put another way, connecting the dots ahead of others is what exceptional business leaders and companies do. After all, intuiting the needs of consumers—even before the customers know what they want—defines what entrepreneurial vision is all about.
Merchandisers instinctively understand the importance of anticipating what their customers want. In the past, hunches and spreadsheets—or sometimes a combination of the two—accounted for predictive analysis. Today, data-mining tools can provide business people with real-time actionable insights that inform the kind of decision-making that drives accelerated growth.
Today the Customer is King -- How Do You Attract and Retain?
For example, today’s consumers have innumerable choices at their fingertips. Online shopping experiences—especially navigation through digital product catalogues—must be quick, seamless, and intuitive. If you are a merchandiser, and a customer mistypes a product name or search term, you’ll want to make sure they are directed to the right item anyway. Or, perhaps, capitalize on mistakes by pointing them towards comparable or appropriate items based on the incomplete information they provide.
Filling in the proverbial blanks on behalf of the customer is what leading-edge services like Elasticsearch allow you to do. Put simply, by making big catalogues smart, easy-to-use, and extremely responsive to consumers you capture a lot more business. Consequently, conversion rate optimization improves dramatically.
Optimizing Search -- The Elasticsearch Difference
Companies are using Elasticsearch to rethink how business is done, disrupt marketplaces, and create entirely new fields of opportunity. For instance, Leadboxer, a sophisticated mobile and web-based lead capture and qualification firm, is harnessing Elasticsearch features to overturn the conventional wisdom regarding what search engines can do. As co-founders Cralan Deutsch and Wart Frasen opine, “We thought search engines were designed for searching through docs, not qualifying sales leads!”
However, the flexibility and versatility of Elasticsearch allowed Leadbox to identify qualified sales leads from digital activity based on the criteria and metrics that matter to them and their clients. As a result, it allows them to find the proverbial golden needle in the haystack of unstructured information, which is a game-changer as far as conversion rates go.
The Future of Customer Acquisition
Conventional search engines are relatively easy to configure. But high-quality recommendations systems
are another matter. That’s because they depend on machine learning programs and integrating multiple distributed networks. However, the inherent customizable flexibility and versatility of the Elasticsearch platform allows business configure their own recommendation engines. This is where the future of ecommerce and customer acquisition is heading, in a hurry.
Platforms that combine predictive analytics with graphic mapping in an intuitive manner have the potential to confer a huge competitive advantage. Businesses don’t have to be data scientists or hire them. Instead, with Magento 2.1 they can visualize at a glance possibilities and opportunities while their competitors struggle to connect the dots.
Mapping relationships opens the door to undiscovered business opportunities. Magento 2.1 has incorporated Elasticsearch within its platform, which greatly enhances the search tools available for your business.
By teaming up with the right platforms and partners, Magento 2.1 has turbocharged the search solutions that can dramatically accelerate growth at your company.
Magento reduces the time to market, helps merchants create more engaging experiences, streamlines payments, and provides actionable insights into customer behavior. No wonder it’s a growth accelerator. For example, Munchkin
, a baby product maker employing Magento, has enjoyed an impressive 37 percent increase in daily visits, a 122 percent increase in units sold, and a 201 percent increase in daily revenue. With result like that, what ecommerce leader wouldn’t want to harness the power of Magento 2.1?
To learn more about how the new elastic search functionality in Magento 2.1 can help your user experience, contact Guidance