With a growing selection of products, online retailer Lucky Vitamin looked to find an easier way to recommend items to its customer base. After turning to cross-channel personalization provider MyBuys, the retailer was able to achieve a “noticeable lift” in conversion rates.
“[MyBuys] definitely took a load off of our plate both manually optimizing and setting up cross-sell configurations,” said Sam Wolf, CEO of Lucky Vitamin, in an interview with Retail TouchPoints. “We were able to intelligently make recommendations to our customers who were browsing the site so they could find other items that may interest them based on what other customers had bought, looked at or clicked on.”
The retailer was seeking a solution that could dynamically recommend products via intelligent algorithms. MyBuys fulfilled that need.
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“There’s a sharing of data where the clients teach us their products, categories, how they market their campaigns and how they target,” said Bob Cell, Founder and Chairman of MyBuys. “We, in turn, use that data to say ‘that’s great, but how do things really go together, and what consumers actually like to buy what things?’ We do a lot of modeling with our algorithms and then we constantly refine it so that when we’re interacting with consumers we can do one integration with a client. That then allows us to partner over time in all these different touch points by using the same dataset.”
Today, Lucky Vitamin offers more than 30,000 SKUs, according to Wolf. Because the product catalog is so extensive, the Lucky Vitamin staff was not able to effectively personalize individual recommendations manually.
“We tried building some little things in-house that dynamically recommended top sellers,” Wolf said, “but we needed a solution that was more intelligent that took into account a lot of the other touch points: Views, conversions and clicks.”
A Three-Pronged Approach To Personalization
MyBuys builds up an e-Commerce experience through its three cross-channel platforms: MySite, MyMail and MyAds. Lucky Vitamin kicked off its partnership with MyBuys using the MySite feature, which provides on-site personalization. Next, the retailer added the MyMail email personalization and MyAds display advertising personalization features.
The MyAds platform consists of four personalized display advertising solutions designed to engage consumers at multiple points during the shopper lifecycle:
- MyAds Acquisition, which targets new, anonymous shoppers;
- MyAds Retargeting, which targets browsers that haven’t purchased a product;
- MyAds Reactivation, which re-engages previous purchasers; and
- MyAds GeoTargeting, which targets online consumers in an effort to drive them into the brick-and mortar store.
“We always are looking at ways to acquire new customers, retain the ones we have and bring back the ones we may have lost,” Wolf said. “MyBuys really hit on each one of those issues in a unique way and more of a programmatic way to find solutions for those three common retailer needs.”
