Product Recommendation Interpretation
Enhencer makes it unprecedentedly easy to analyze and predict customer journeys and customer behaviors by providing pre-defined templates for the whole process.
This is the Product Recommendation dashboard. It packs a handful of meaningful insights.
- Product Category: The Topmost drop-down shows the list of product categories present in the data and the dashboard is the corresponding results of the chosen product category.
- Overall Summary: All segments show the overall statistics like the total number of customers. Most importantly, it also shows the overall purchase rate for the chosen product by all the customers over time.
- Segment Insights: Enhencer segments the customers based on
their past purchase behavior and website visit behavior and their
likelihood to purchase the chosen product. The segments’ insight can
be seen to identify customers’ behavior in particular segments. Just
hover over to the info icon located at the left corner of any segment
and the segment insight will be shown.
- The IF AND portion of the insight represents the past behavior of the customers under this segment.
- The number of customers on the right bottom shows how many customers fall into this segment or can also be interpreted as; these many customers have similar behavior in relation to purchasing this chosen product.
- Purchase Likelihood represents the proportion of customers from these segments that actually ended up buying this chosen product in the past. It can also be interpreted as these particular behaviors of the customers leads up to this percentage of successful purchases of the chosen product by the customers.
- Cumulative Purchase Likelihood of Segments: The bar plot on the right side shows the cumulative purchase likelihood of the selected segments. The highlighted segments are being selected at the moment and vice versa. The top segments are the customers with the highest likelihood to purchase and the likelihood decreases as we go down the segments list.
- Notice the number of customers on the right plot is significantly lower than the overall customers shown in the left plot. This is because Enhencer has segmented customers with the most likelihood at the top segments. This also means; a trade-off can be made here by selecting the optimum number of segments to reach optimum return for any marketing campaigns and finding out the target customer group.
- Popular Products: This area on the top right shows the most popular/sold products according to the average basket size of the customers. Slide the Number of Popular Products slider to obtain the desired number of poplar products in the selected product category. One thing to notice is; the products will change if you are to slide the average basket size as well. This is because Enhencer segments the customers based on their past behaviors alongside taking consideration of their budgetary factors. Therefore, products could be popular in the high budget groups while completely missing in the lower budget groups.
- Return on Investment: This area shows the possible future return of investments if the targeted customer with a higher likelihood to purchase the selected product category is reached with marketing campaigns. Among all the customers’ users can choose a portion of customers based on their likelihood of churn. The targeted customers are the ones that belong to the selected number of segments from the top list.
- Actions: To take immediate actions on the targeted customer segments click the Send Audience to Ads, Email, SMS button and it will take you to the Action Page of Enhencer.
- Exports/API: All these segments, predictions, and likelihoods can be downloaded in a static file as well as can be integrated into your own platform using API connectors.