How to Measure the Effectiveness of Product Recommendations?
To ensure your product recommendations are performing well, track key metrics such as:
- Click-Through Rate (CTR): Measures how many recipients clicked on the recommended products. - Conversion Rate: Indicates the percentage of recipients who made a purchase based on the recommendations. - Average Order Value (AOV): Helps determine if recommendations are leading to higher-value purchases. - Customer Retention Rate: Monitors how well recommendations contribute to repeat purchases.