There is no avoiding the fact that well-executed personalization efforts can tremendously increase your conversion rates.
As it were, 92% of companies who personalized their emails saw an increase in conversion rates. Imagine if your whole platform is personalized to suit your readers, with a focus on their experience.
Thankfully, there is no need for imagination. With Pelcro’s machine learning algorithms, you’ll get to see a platform that has been tailored for publishers and their readers.
Keep on reading to learn how personalization can boost your conversions with Pelcro’s machine learning algorithms.
Personalization 101: The System’s Foundation
With versatile APIs and SDKs, Pelcro offers machine learning predictions using multiple formats, enabling access to the prediction scores from different devices and platforms.
Moreover, you’ll find that one of the many perks of machine learning is the ability to improve as the algorithm matures.
In addition, as time goes on, you’ll start getting to know your audience better and you’ll be able to make your own spin on things for a fully-customized experience.
However, for now, we’ll start with the current machine learning models, which will set you on the right path.
1. The Content Personalization Model
In our day and age, no one expects to see the same content twice. Content on the internet is ever-evolving to change according to the user’s preferences. This experience is highlighted on social media platforms, like Facebook’s feed.
The way the feed works is by using an algorithm to sort out the different posts from your friends, and rank them from the most relevant posts —to you— to the less important ones.
Following the same idea, Pelcro’s algorithm can personalize your homepage content to better suit each individual reader. It’ll be curated just for them.
2. The Recommendation Model
Remember the Facebook Feed we talked about earlier? well, the recommendation model couldn’t be better showcased than Spotify’s recommended playlists.
The main difference between the recommendation model and content personalization is that recommendation comes in after your readers have already engaged with your content.
The next step would be keeping their attention by recommending either content or products that are both relevant to the content your readers are engaging with, as well as the culmination of their past actions on your platform.
For example, if your reader has just finished reading an article about soccer, then recommending an additional soccer-based article would be the algorithm’s way of ensuring that its presenting relevant content.
A deeper layer would be sifting through the reader’s past actions and tailoring the recommended section according to these data points.
If the same reader is having fun reading articles about soccer, with an emphasis on a specific team, then the algorithm wouldn’t just through any soccer article.
It’ll choose the ones about this reader’s favorite team and ensure that it’s added to the very top of the recommendation list.
Recommendations can be aimed at content or products or both. It’ll all depend on your readers’ interests.
3. Prediction Scores
A great way of utilizing your readers’ data to your benefit is prediction scores. Prediction scores are percentages that signal your reader’s likelihood of taking a certain action.
Furthermore, these scores are immensely helpful when you’re aiming to create engagement campaigns. In addition, they decrease your churn rates.
Pelcro offers two types of prediction scores:
Subscription Prediction
This score calculates in real-time according to your reader’s engagement. It uses historical data points to predict the likelihood of your reader signing up for your subscription.
Churn Prediction
Moreover, this prediction score calculates your current subscribers’ churn score. It notifies you of the likelihood of your subscriber deciding to unsubscribe before they take that specific action.
Personalize to Thrive
Personalizing your platform to suit your readers won’t just help with your conversion rates.
However, it’ll add value to your readers, which in turn, helps with making your regular readers into die-hard fans, and attract new readers to your platform.
On the other hand, we understand that it can be a bit tricky to figure out at first. Schedule a demo with our team, and we can showcase what our algorithms can add to your platform.
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