Frank Faricy, founder of XGen AI, shares his insights on all things eCommerce and dives into how eCommerce marketers can leverage personalization through AI. XGen AI is the first fully automated, easy to integrate, easy to use AI powered platform designed to empower eCommerce companies to create unique experiences that adapts to each and every consumer behavior and need.
Can you set the stage for me? What are ecommerce personalization platforms?
You’d most likely know them as carousels at the bottom of a product page under the tagline “Selected for You” or “Best Sellers.” Personalization platforms provide brands the ability to deliver shoppers any sort of content, recommendations, or offers based on previous actions, demographics, and other personal data.
What are some of the current challenges ecommerce marketers face when adding personalization to their ecommerce websites? How does XGen solve those challenges?
The biggest problem we solve is that we’re actually making ecommerce personalization platforms personal. We build tech on the fundamental philosophy that it needs to service the individual consumer by giving them the experience they want as opposed to picking one experience that we think is right and applying it to the same people over and over again.
XGen enables brands to drive a totally personal and unique experience to each consumer that adjusts and adapts to their needs in real-time.
The majority of tools are based on segmentation practices where consumers get placed into large groups based on past data with fixed rules and stereotypes. So, it’s not really individualized and it’s rarely real-time.
Imagine being in a stadium with a brand sales-rep in the middle of it, pitching the same set of four products to the hundreds of thousands of consumers in that stadium. That is the experience most websites give to its consumers.
Competitors have enabled brands to separate that stadium into groups of thousands of people and set-up an interactive billboard that changes the selections sometimes. The problem is that consumers are still given fixed experiences that are the same to everyone in that group.
XGen essentially gives every consumer in that stadium an iPad with an interactive, highly knowledgeable sales-rep on the other end.
Another issue is integration times for personalization platforms can be notoriously long and complex. Our integration process is 5X faster than the industry standard, requiring minimal work on the part of the eCommerce team.
Finally, we provide a level of measurement and transparency that doesn’t exist in the market. It’s hard for marketers to determine if their tools are actually helping drive sales and if so, what is a scientific, undeniable way to count that. Existing systems are not transparent about this and are actually quite dishonest. We offer detailed metrics showing actual results in empirical tests. This builds trust with our clients.
Can you talk about it from the end consumer POV? How does XGen AI improve their online shopping experience?
As a shopper, forget about the recommendation “carousel” I mentioned as a reference point. Instead, imagine a custom website built just for you that adapts and shifts in real-time with your demands and needs. No two consumers will ever see the same experience.
It’s like having a transparent and non-invasive sales-rep hovering around you in a store and silently offering you the perfect product at every touch point, making your experience far more enjoyable.
Beyond being validated, we also save shoppers time by giving them what they want immediately vs. making them work for it. How many times have you gotten so frustrated with the infinite scroll or click for page 2,3,4 buttons and items that don’t fit your needs that you end up leaving things in the cart?
Talk to me about the technology itself. How does it work?
XGen’s innovation in the tech space lies first and foremost within its X2Mind prediction engine. This is a hyper-advanced AI system designed to predict every aspect of a consumer’s relationship with a brand. It calls on hundreds of data points per consumer and years of customer service knowledge to predict every single person’s next steps on the site, down to any action they may take.
This intelligence can be injected anywhere into the site, creating locations that will become entirely unique in design and content to the individual.
What sorts of brands would benefit from XGen AI?
Name an ecommerce site that is running profitably with a decent amount of traffic and 99% of the time they would be a good fit. If they only have one product or only a few monthly visitors, they would need to scale up a bit before investment in optimization tools of any kind would be useful.
There is a minimum amount of traffic required per month in order for our system to work properly. If you are at or above 25k monthly unique visitors, the system will work well.
How do you work with brands from onboarding to implementation and beyond to ensure a seamless experience?
We pride ourselves on our service-driven approach. We don’t just implement and walk away. We walk side-by-side with clients through the process, check in regularly, and provide quarterly deployment strategies based on a full analysis of the site and traffic flows to understand the areas of opportunity, drawing on our experience of site optimization to leverage maximum results. Of course, I love seeing our platform lift sales. But, even more, I love receiving notes from clients thanking us for seamless integrations and guiding them as strategic partners.
What results do you typically see after a brand implements your solution?
All brands we work with unanimously have seen enough revenue lift to pay for the entire annual subscription within two months of using it. Meaning, within two months of a 12 month subscription, they are ROI positive….in a big way.
We have seen revenue lift as high as 35% and Average Order Value go up as high as 199% when iterating with XGen experiences.
More importantly, these are real results derived through empirical A/B testing and not subject to interpretation and bias from platform providers. XGen performance means actual lift. This is a big shift in this industry.
What’s your goal for XGen AI over the next year? 5 years?
Our goal is to reinvent the paradigm of on-line ecommerce experiences. We want to bring the personal touch of walking into a store and being serviced one-to-one in an online environment and to drive a service-driven experience for consumers.
Trends prove that service is where you will win as a brand. eCommerce is a cold experience subject to the opinion of a few and rendered upon the millions. XGen is the new-new. It is an existential shift in how we look at on-line shopping, and it works.