Smart search technology is a powerful tool that can help ecommerce businesses maximize profit. The development of search technology has revolutionized the way we find information. We now have the ability to find what we are looking for almost instantly. This technology can also maximize profit on an ecommerce website. By understanding how smart search technology works, website developers can design websites to appeal to potential customers.
Life is fast. Customers prefer to save time as compared to a few extra bucks on a product. Businesses like Netflix and Uber provide immediate search solutions for customers, which played a role in their explosive growth. These immediate solutions on an easy-to-navigate platform help ensure customer retention. Introducing smart search technology to your ecommerce platform is the perfect approach to save effort and time.
According to UX Booth, a content publishing organization, up to 30% of site visitors use the search bar to look for relevant products. Neil Patel, an SEO expert, suggests that users that use site search are 2-3 times more likely to convert.
What is Smart Search?
Smart Search is a type of search engine that is powered by artificial intelligence (AI). It removes data silos and retrieves fast and accurate search results. Smart search technology also identifies synonyms and spelling mistakes. Smart search technology fixes the user’s mistakes and returns relevant results.
For more details on smart search technology, read this detailed blog on Clotho Search Platform (a product of UpStart Commerce).
How Smart Search Technology Works
Each organization implements smart search technology differently, but the basic concepts remain the same.
- Connect Data
Connect and crawl your structured and unstructured data to retrieve the answers from any database.
- Index Data
Index the data by creating a unanimous index to rank and collect similar data.
- Enrich Content
Categorize and identify key content by using natural language processing. You can use entity extraction and sentiment analysis to improve search.
- Analyze Content
Identify similar content and organize it on the basis of relevancy.
- Return Results
Use intelligent algorithms to track results according to relevancy and return the correct results to the user.
How Smart Search Maximizes Profit in Ecommerce
There are numerous benefits to implementing smart search technology on an ecommerce platform. Here are a few ways smart search technology increases profit in ecommerce businesses::
A blog post by the Sales Funnel Strategist, an online marketing agency, says that 10% to 30% of ecommerce sales happen with upselling.
Implementing smart search technology allows businesses to easily recommend bundles of related products along with search results. The chances of a customer purchasing multiple products at a discounted price increase, making upselling easier.
Filters Out Unwanted Results
Add Search, a smart search technology developing organization, estimates that 68% of shoppers would not return to a site that provided a poor search experience.
Businesses ensure that users only see relevant results to their searches with smart search technology. Artificial Intelligence structures data in indexes that retrieves results, not only on the basis of words but also their context.
Saves Customers’ Time and Effort
Time is of the essence for online shoppers. Algolia, a search platform provider, concludes that 53% of mobile users leave a website that takes longer than three seconds to load.
Smart search technology is fast, efficient, and returns accurate results to the user. It is important for every ecommerce business to speed up the search process.
Reduces Consumer’s Frustrations while Searching
According to a survey done by Adobe, 51% of consumers say they are more likely to make a purchase from a brand if the website content is personalized.
Ecommerce platforms quickly serve relevant results to interested buyers with the help of smart search technology. Therefore, the possibility of incorrect results reduces drastically. This helps eliminate a customer’s frustrations during the search process.
Helps Identify Customers’ Buying Patterns
Smart Insights, a digital marketing firm, estimates that 48% of consumers spend more when their experience is personalized.
Search terms, top searched pages, user engagement, active sessions with each search, and engagement with results are some of the most important information required to understand buying patterns. Businesses can use this information to recommend products to their loyal customers. Smart search technology seamlessly collects all of the necessary data.
Clotho
Clotho, a product of UpStart Commerce, is a smart search platform that enables ecommerce platforms to help their customers find what they need quickly and efficiently.
Efficient Data Indexing
All the data across your ecommerce platform is stored in a special data structure called indexes. They are easy to traverse and retrieve the relevant data within a few milliseconds.
Aggregations
Similar data is grouped together on the basis of multiple factors such as their price, product type, and other similar factors in structures called aggregations. This allows users to filter their searches according to their requirements.
Autocomplete
Autocomplete in Clotho allows users to complete their queries faster and as soon as they start typing. Users are able to finish their search term quickly with minimum input from the user. It highlights the portion of the result which matches the initial query. Autocomplete gives the users the ability to jump to a results page directly i.e. the product page.
Synonyms
Clotho offers synonyms to its users to enhance search results. As the name implies, the purpose of synonyms is to search for words with similar meanings and also retrieve related results. Because of the synonyms, all ambiguities while making the search are removed for the searcher.
Easy to Integrate
One of the best features of Clotho is that it easily integrates with any ecommerce platform. To understand how the APIs work and the basic integration process, you can go through a detailed Clotho user guide that helps you understand every concept.
Interested in Clotho? Visit our product page for more information.