Personalization has been a major trend on e-commerce and classified sites in recent years, because of the increased customer loyalty, and profit it is capable of delivering.
In Turkey, EBay’s Gittigidiyor.com recently invested in personalization (product recommendations), when it signed an agreement with Hungary-based recommendation/personalization expert Gravity R&D. As is standard practice at Gravity R&D, the company did A/B tests (comparing performances of the client’s site with and without Gravity R&D’s recommendation engine).
Oguzhan Poyrazoglu, technology and product director of Gittigidiyor.com, said, “Not only did Gravity R&D’s (software) deliver the best result in the pilot period, but the company’s staff also worked completely to our satisfaction and responded quickly”.
The cooperation between Gittigidiyor and Gravity R&D is still young, and it’s too early to measure results. But, the result of partnership between Gravity R&D and Tiki.vn, one of the biggest e-commerce websites in Vietnam, is old enough to deliver analyzable results – and they are pretty remarkable.
In the pilot period, Gravity’s recommendations generated an additional $13.15 gross merchandise volume (GMV) per 1,000 recommendations delivered to the site, and an average conversion rate of 6 percent – which is not to be sneezed at.
Since the cooperation (here) earlier this year, the visits to Tiki.vn have been on a steady increase. According to Similarweb, visits (desktop and mobile sites) to Tiki.vn went from 7 million in April to 12 million in August.
There were certainly more reasons for the increase, but Gravity R&D must have had something to do with it, when visits rose 70 percent in the first four months after it came to the party.
Gravity R&D business development manager Marton Vertes, said, “Our cooperation with Tiki was a major milestone in the company’s expansion in Southeast Asia. We recently opened an office in Vietnam to establish more partnerships, and provide maximum support to our current and future clients in the region”.
Tamas Motajcsek, global business development manager of Gravity R&D, told us, “we have several horizontal and vertical classified website as clients, as well as e-commerce sites, such as global job search engine Jora.com of SEEK Group, and about ten websites of Schibsted. We decided (recently) to focus on job sites, aggregators (search engines) and real estate websites, instead of horizontal classifieds.”
Gravity R&D provides recommendation software that enable sites to significantly increase their revenue and improve user experiences. The company delivers more than five billion personalized recommendations per month, that generate more than $40 million U.S. in revenue for their clients around the world.
Gravity offers scalable solutions. Clients with unique needs and larger traffic numbers find its Enterprise solution interesting, and small and medium-sized businesses its turnkey, SaaS recommendation engine called Yusp.