How Well Do Recommendations Engines Work for Your Product?
Personalized recommendations have a big impact on consumer behavior in retail, entertainment, news, dating, and many other settings. But while marketers know that recommendation engines can be critical in consumer choice, they may not fully understand when--and for what products--recommenders work well and when they don’t. In this webinar, Kartik Hosanagar will discuss research addressing two questions: For what product categories are recommendations more effective (e.g., utilitarian versus hedonic, search versus experience)? And, within a category, what kinds of products (e.g., mainstream or niche) are more likely to benefit from recommendations? In addition to study findings on these questions, he will offer insights on strategies that retailers and producers can use in a world where the question has shifted from, “How does our product get discovered by consumers?” to “How does our product get discovered by algorithms?”