Monetate, the leading personalization platform for delivering better customer experiences, today announced results and key accomplishments for Q2 2023. Responding to the needs of the industry, the second quarter of 2023 focused on enhancements to the company’s AI-powered product recommendations, including improved UI and reporting capabilities.
“Prospect and client feedback are big drivers of innovation at Monetate, and with these key improvements, we are further differentiating our personalized merchandising offerings to help organizations move more inventory at scale,” stated Brian Wilson, CEO of Monetate.
Monetate’s Global Recommendations Reporting enhancements include two additional reports to better break down and understand how various experiences and recommended products are performing at the account level for increased visibility across large and enterprise organizations. Another release, allows brands to deliver customer-relevant product recommendations in order confirmation and shipment confirmation emails to help drive upsell and cross-sell opportunities during key junctures of the post-purchase journey.
These enhancements come on the heels of original research from Monetate’s eCommerce benchmarks showing that emails sent by Monetate clients that also included product recommendations saw an increase of 45.6% in purchases when compared to this period in 2022.
Furthermore, in Q2 2023, email proved to be a solid performer with a 2.6% increase in total purchases and a 2.9% increase in conversion, compared to Q2 of 2022. Data from this same period also showed a 12.3% increase in total purchases from desktop compared to Q2 2022.
These trends indicate that when leveraged correctly, and across the right digital channels, personalized merchandising and marketing yield valuable gains for businesses.
Monetate Product Recommendations incorporate robust product discovery capabilities and algorithms familiar to marketers and merchandisers from the legacy Certona platform.
“It’s an exciting time at Monetate, and for our clients as we hit the mid-year mark and head into the fall, we’re ready to help them continue to drive real-time personalization and cross-channel optimization,” added Wilson.
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