Among the many successful Israeli startups of recent years there are 3 e-commerce ones that stand out as having massive promise. All three offer what will soon be essential services to online retailers. All three are attractive because each will increase conversions and profits. Merchants can measure the return on their investment (ROI) and discontinue any service that does not give a positive RoI.
All three are prime examples of the Software as a Service (SaaS) model with low entry costs so as not to deter sign ups. All three provide services which were not even thought of a few years ago, but all are quickly becoming essential to online marketers who want to achieve maximum conversion of visitors into buyers.
Wiser offers retailers the ability to use Big Data to make different offers available to different website visitors. The offer shown are based on how the visitor’s behavior.
Wiser is a dynamic pricing engine which offers everyone from small and mid-sized to enterprise ecommerce sites the same ability to change prices every few minutes that giants like Amazon have. Retailers can set it to automatically change prices to match their competitors’ offers.
Merchants can change prices in real-time in order to maximize profits, end discounts if their competitors are out of stock or make special offers to particular groups of customers.
Wiser has other features besides price-matching though. It offers retailers the ability to make special offers to particular segments of their customers: Discounts could be offered to loyal customers or to purchasers of big ticket items on a Saturday night. These would increase the feel-good factor those customers have and make them more likely to buy more.
Wiser has different plans so there is something for every retailer, but every plan includes the most important features of real-time re-pricing and tracking history. Retailers can start with a small monthly plan and increase it when they find a favorable ROI.
Shoppimon allows Magento e-commerce website owners to monitor their sites 24/7 and still get some sleep. It is also free for one store, and it does not get any better than that. The service works by sending bots to visit a site, to navigate around it and even to simulate purchases. The payment gateway as well as every page and link on a site are all tested many times a day.
Subscribing to Shoppimon means that a retailer knows with certainty that his e-commerce Magento store is fully functional. The service will find and report any obstacles in your site that cause slowdowns. This is important because slow page load times will cost you potential customers and revenue because people are increasingly impatient online and they will click away rather than wait an extra 0.1 second.
Commerce Sciences offers website personalization features that boost conversions. Different people have different needs and respond to different stimuli as a result. With Commerce Sciences Software as a service (SaaS) you can set your site to promote different products and offers to different groups of users.
SaaS sites can convert an engaged visitor into a client by offering a free trial, whereas a hesitant visitor would be better served by a free white paper or report. Commerce Sciences analyzes visitor behavior to place them into different segments that you define. It then personalizes your pages for each visitor, increasing your conversion ratio.
E-commerce sites could use the Commerce Sciences SaaS to convert hesitant shoppers by offering one-off discount codes. Price-sensitive shoppers could be led to clearance sale pages.
There are different plans that depend on the number of stores that are included and the number of visitors they have, so there is something for owners of stores of all sizes.
Who Will Be Next?
Two of these three services, Wiser and Commerce Sciences, use applications of Big Data. The companies have analyzed the behaviors of large numbers of website users and have extracted patterns they can use and apply. Extracting patterns from data, so-called data mining, is an Israeli growth industry that will fuel the development of many more companies over the next few years.
The third service, Shoppimon, is an excellent example of ingenuity in its use of automation and new technology to solve common problems that businesses have.
With companies like these our future prosperity can be assured.
Over to You
Can you see how these companies’ services could help your online business?