Enhancing digital customer experience with personalized recommendations enabling Informa to tailor cross-sell and up-sell product bundles for increased revenue.
Benefits & Results
Background
Informa is a global business intelligence, academic publishing, knowledge, and events company. It operates across various sectors, providing market insights, organizing industry events, and offering specialist content. Informa supports businesses in making informed decisions, fostering innovation, and connecting professionals through its comprehensive data and event services.
Challenges
The rapid change in the world of events with many physical events being replaced or augmented by virtual events and marketplace services presented challenges for Informa. Their customer-facing platforms/products failed to retain users or traffic due to poor user browsing experiences, resulting in customers not finding what they were looking for (poor discoverability) or spending a lot of time scrolling without finding an item they liked (no recommendation).
Solution
NowVertical created a comprehensive recommendation model delivering recommendations to Marketplace 365’s Virtual Events and Media sites including: User Recommendation Service, Company Recommendation, Product Recommendation Service, Content Recommendation Service.
Implementation
NowVertical implemented a comprehensive recommendation model across digital platforms using a multi-faceted framework. The model integrates content and product similarities, collaborative filtering, and user behavior analytics. It employs Elastic Search for real-time data processing and NLP techniques like TFIDF to analyze content. Recommendations are enhanced through collaborative filtering, displaying products viewed together, and leveraging a Customer Data Platform (CDP) for dynamic user segmentation. Continuous improvements and user feedback loops ensure the system remains effective and relevant in delivering personalized content and product suggestions.
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