Recomendation generator

Recommendation generatorWiseAdvice

Most of internet-store recommendations suck. We can make them really effective.

What is WiseAdvice?

Are these goods really seem to be usually bought together?

We doubt.

What is our solution?

WiseAdvice creates tools & experiences that help Internet-stores increase the conversion

and sales

{{

Who’s involved

WiseAdvice

Alexander KhasanovDevelopersenior MIPT student

Andy BelovDevelopersenior MIPT student

Rostislav KislenkoDevelopersenior MIPT student

Nikita PustovoitovTeam leaderMIPT graduate

Daria KazennovaAnalystsenior MIPT student

What’s the problem?

Internet-stores…

Customers…

… offer great range of products …

… but have a low frequency of purchases…

…want to find a product that is right for them …

… but can not find product they want...

Total: no one is happy :(

WiseAdvice is:1) Allocation of groups of similar products2) Product recommendation3) Personalization of advertising messages

What’s a solution?

Wise Advice

Your store

Significant sales

increase

Technology

Collecting

data

Data analysis

Recommendations

Current results

• Conducting our own experimentWiseAdvice recomendations

vs. Amazon recomendations

• Getting prepared for our first installation

$1,1 bln.

$2,8 bln.

$700 bln. IMRG Global e-commerce Overview 2012: World’s annual market

The current market

IMRG Global e-commerce Overview 2012: 100 largest internet-stores have 40% of total market

Amazon.com: up to 40% of sales come from online-recommendations.

5% of “recommended sales” gives up to $2,8 bln.

Competitors

SmartBuy Bridgewell prudSys RDE

Needs a lot of data to start

workingNO YES NO

Model flexibility HIGH MEDIUM MEDIUM

Performance HIGH MEDIUM MEDIUM

Costs of installation MEDIUM MEDIUM?HIGH MEDIUM

Our business-model

Base

Small and medium internet-stores

Fixed payments:200 – 800 $/month

Premium

Large internet-stores

Percentage of recommended products’ sales: 2 - 5%

Our plans

4-th quarter of 2012

• Conducting experiments

• First test installation

1-st quarter of 2013

• Experiment’s results analysis

• Having more installations

2-nd – 4-th quarter of 2013

• Developing cloud version

• Having much more installations

Investing

Goals for investing: Current investments:

• Growing marketing & developing team

• Increase marketing efforts

• Make profitability within 1 year

7000$ – U.M.N.I.C. Intel , spring 2012

Get in touch

WiseAdvice team