As online retailers and shoppers mature with time, it is only fitting that the way we browse products within these websites get more refined and user friendly.
Sandeep Saxena, Co-Founder, YepMe, says people do not want to navigate through all the categories and "that is why an in-built search is very important for an online company as there are crore of products to search through."
In a bid to do exactly that, Pavan Vilas Sondur and Prashant Kumar have unboxed a slew of features which help e-retailers understand the buyer behaviour and throw relevant products according to the buyer's need and past shopping history.
"If a user comes to a website and looks for shirts, our engine decides what kind of shirts we will show him, depending on his past search history. It is optimal for the conversion rate for the retailer," said Pavan Sondur, Co-Founder, Unbxd. The Bangalore-based, three-year-old venture, started slowly but is growing steadily: globally, it has 1,000 plus online merchants using its service.
The software, which took the founding team one-and-a-half years to build, reduces a buyer's time on a website to find what sheislooking for by throwing up customised recommendations. It tracks user's behaviour on a particular website, such as what they look for, on what they spend most time and what they end up buying.
"All of this is tracked anonymously without keeping any sensitive information. With all these data, we are able to recommend right kind of product for online buyers," Sondur said. According to him, it increases the conversion rate for e-retailers by 40-80 percent.
"Having an effective search tool really minimises the user's time spent on finding the right product, but at the same time we will not be able to give them a showroom type experience," said Saxena, who has been using Unbxd search tools since last six months. He said it also reduces the load on the website as it does not have to navigate regularly.
Rutvik Doshi, Principal, Inventus Capital Partners, who is an investor in Unbxd, said the company solves one of the major problem of conversions that an e-commerce player face.
"How do you ensure that you throw relevant products to the buyers on your website? If you have that intelligence to show relevant sort of product it will be a hit among enterprises," said Doshi.
In October last year, the company raised $2 million from IDG and Inventus Capital Partners. Since the company's larger presence is in the US and UK, the funding was used to expand in India, Singapore and North America. Out of the 1,000 plus clients, around 800-900 are from the US and UK. It raised an undisclosed amount of seed money from IAN in 2011.
"We are one of the few technology companies from India who have been able to raise VC money," Sondur said.
The company's next challenge is to offer the same sort of tool for mobile portals, which is quickly evolving. Although Sondur has specified search tools for mobile, he wants to make it better.
"There is no frontier on mobile as of yet so there are no set ways of doing things. Almost 50-60%of the traffic comes from mobile, but the conversions are not high. Nobody has clearly cracked the formula and it is going to be very important," he said.
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Updated Date: Aug 21, 2014 16:20:02 IST