Have you ever wondered how product taxonomy raises the value of the average ticket and creates dynamic content? If you have some knowledge of taxonomy, you probably already know the answer to this question. However, as much as it is an extremely useful tool, taxonomy is not known by everyone. Keep reading Use Product Taxonomy With This API, we will tell you about this and about an API that will make the task easier: Text Classification IAB Taxonomy,.
How does the product taxonomy raise the value of the average ticket and create dynamic content?
Let us imagine the case of the purchase of mobile through an online store. First, the customer enters with the idea of taking that only product; but when adding it to the shopping cart, the same page makes some suggestions. They may be to include the screen protector, the case; and maybe a short cable to use it as a power bank.
When doing this, it is possible to display dynamic content that depends on the initial selection of the buyer. Additionally, this marketing action can make the person opt for adding one of the suggested products; thus raising the value of the average ticket.
This is possible if you have a detailed product taxonomy. This premise is what will allow us to classify the brand and model of the selected mobile; this is in order to later be able to make suggestions for the extras that agree with the initial decision.
Example cases of how product classification favors conversions within eCommerce
Nothing better than the example to demonstrate something, that’s just what we do at Barilliance, we offer our clients success stories of people who have decided to follow our personalized recommendations to improve the shopping experience within their virtual stores.
El Corte Inglés – Increase conversions from the home page
So, this multi-department store was clear that it was necessary to get more conversions from the home page and the main categories. Our team’s suggestion was to use product attributes to categorize featured items into sections of interest.
At the time of starting the study, banners of the brands they wanted to promote were displayed, but with the improvement proposed by Barilliance of displaying the best-selling and most visited products on these pages, the conversion rate was increased.
The products that are shown in each section are dynamic, they change according to the most sold and popular of each brand in a range of 30 days.
Many of the buyers are attracted by the offers, which is why campaigns such as Black Friday, Cyber Monday, and other special offers are so successful. Bearing this purchasing behavior in mind, a couple of dynamic sections were created on this website where the attribute to highlight is the promotional price of a certain product. With this, the objective of increasing sales and the conversion rate was achieved.
Check Text Classification IAB Taxonomy
The Content Taxonomy has evolved over time to provide publishers with a consistent and easy way to organize their website content. For example, to differentiate “sports” vs. “news” vs. “wellness” material. Text Classification IAB Taxonomy, specification provides additional utility for minimizing the risk that content categorization signals could generate sensitive data points about some things. Some examples are race, politics, religion, or other personal characteristics that could result in discrimination.
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Also published on Medium.