Nosto, a leader in ecommerce personalization and artificial intelligence (AI) tools for retail, today launched its new platform enhancements, including Content Personalization, Segmentation and Insights. These new offerings allow ecommerce retailers to deliver completely unique and highly targeted shopping experiences to different types of customers, deepening the customer’s relationship with the brand across the retail website, emails, pop-ups, Facebook and Instagram ads and more.
The company’s innovative retail personalization solutions have fueled a three-year growth rate of 260 percent in North America driven by deep relationships with 2,500 of the world’s fastest growing brands. Nosto has also driven a gross merchandise volume (GMV) of more than $10 billion through its customer stores, and is averaging a 22 percent increase year over year GMV for retail customers, significantly higher than the average of 14 percent for ecommerce retailers.
“When we first launched Nosto, our focus was on delivering AI-powered, personalized recommendations for products across an online store in real-time. Today, we’re expanding these capabilities by leveraging our vast network of retail data to deliver even more robust experiences — a fully personalized shopping experience with web content perfectly fitting the customer across any digital channel,” said Jim Lofgren, CEO of Nosto. “We’re energized by what we have been seeing during the beta period of these new products — increased sales and deeper brand relationships with retailers.”
Today’s new platform enhancements include:
- Content Personalization: Nosto’s Content Personalization platform goes beyond product recommendations, enabling ecommerce retailers to deliver completely different shopping experiences to different types of customers through real-time actionability. By creating dynamic, instant personalization based on different insights and personas, retailers are able to offer a fully customized and relevant customer journey for every individual who interacts with the brand.
- Segmentation: Nosto’s new AI-powered Segmentation leverages real-time behavioral and transactional data to identify customer positions in the shopping funnel and significantly improves targeting by immediately updating their interactions. By tracking their behavior in real-time and automatically updating their moment-by-moment experience, Nosto is able to deliver the most relevant experience at every point in the shopping journey.
- Insights: To best leverage the real-time data that powers AI, Nosto has developed an Insights platform so retailers can access all of the valuable data collected from their site to get a deeper understanding of every shopper that comes to their store and how they are interacting with their products. These insights provide retailers with deeper and more complex data which can help identify new opportunities for growth.
“Nosto’s goal has been to deliver an expanded platform to transform the way people experience online retail by making those experiences far more relevant and personal.
In order to deliver a truly personalized brand experience, retailers need to go beyond products and look at the brand experience as a whole,” said Lofgren. “Today, we’re delivering tools that enable our retailers to leverage our proprietary AI and machine learning algorithms, which now can be used to create memorable brand experiences at scale, ultimately driving more sales.”