How To Leverage The Power Of Artificial Intelligence In eCommerce
Understanding the power of artificial intelligence in ecommerce, and how it can help your business, is a great way to grow your ecommerce success.
In the contemporary tech landscape, Artificial Intelligence (AI) has emerged as the most dominating trend. If you are reading this article, then you might have already heard about the AI. However, have you thought about how to get benefit from AI in your ecommerce Store? In reality, AI can boost your ecommerce business’s potential by a great extent. Today, AI has influenced almost every industry. Be it the food, health care, electronics, flight scheduling, and more areas, AI can be found everywhere.
“By 2020, about 80 percent of Customers’ Interaction will be managed without a Human”
Statement by Business Insider The tech giant Google Inc. has invested on the DeepMind, a startup focused on artificial intelligence development. On another hand, Microsoft is taking steps toward AI development, highlighting the significance of AI in the upcoming days. The largest social network Facebook and Yahoo are on the brink of introducing AI-based features actively. Keeping in view the demand of artificial intelligence in the tech industry, many ecommerce businesses are already adapting AI to get better insights about customers’ buying behavior and improving business processes. In this article, we are going to reveal how you can leverage the power of AI to increase your business’s potential and achieve more sales and profits. Read along to discover everything:
Efficient Sales Processes
Surprisingly, businesses have moved on from the traditional cold calling practices, and are now focusing on leading edge digital marketing approaches including the Search Engine Optimization (SEO), paid marketing, and more techniques. Gone are the days when customers tend to look into the Yellow Pages to come across a reliable provider for a product. Even TV ads are no longer effective than the trendy YouTube ads. Moreover, stories-based ads such as those displayed on SnapChat are taking the advertisement by storm and reshaping the facet of advertisement. Through leveraging the power of AI in an ecommerce store, a business can revive the sales processes with relevant data. The updated ecommerce store will be displaying relevant products to individual customers based on their searches and browsing behavior. In this way, AI will be able to make benefiting changes to businesses, offering rapid access to relevant information and improving overall sales effectively. Moreover, if a business wants to know how to customize sales processes and deliver a robust sales message to the target audience, the adapting AI into CRM can deliver great results. Today, various AI solutions understand natural language and recognize voice such as Google Siri and Amazon’s Alexa. Such AI solutions can enable a CRM system to automate response for customers’ queries, solve issues, and even identify valuable opportunities for sales. Various AI-based CRM solutions can also offer multitask function handling too.
Personalization across Leading-Edge Devices
When talking about the ecommerce, personalization isn’t a fresh concept. In case, you have visited Amazon for some time, then you might know about ecommerce personalization. But, keeping in view the rigorous development in Artificial Intelligence and Deep Learning, cutting-edge personalization has come into the bigger picture. AI-focused personalization across ecommerce industry has appeared in the recent days. The fresh development in the AI has enabled the businesses to identify how customers make interaction online. Be it a mobile app, website, paid marketing, email marketing, or any other technique, AI can monitor identify different devices used by end-customers, and then create a personalized view for them. In this way, ecommerce businesses become able to deliver a remarkable experience to customers utilizing different platforms. For instance, if a customer is looking for an iPhone screen protector on your website, they might get a push notification telling them about a crystal glass protector available on your ecommerce store. It will allow the customers to make a direct purchase, cutting down on various processes.
AI can automatically organize and tag content through identifying aspects in an image or video, then labelling media accordingly. In addition, AI can be taught to understand fresh concepts about product, logo, and much more. AI has proven to provide businesses with a competitive edge. Also, AI is available for businesses and developers belonging to different budget and scales. For instance, the Pinterest’s new extension for Chrome allows users to choose an item in a photograph, and then ask Pinterest to show relevant items through using photo recognition algorithm. AI isn’t limited to Pinterest only. Businesses around the world are adapting AI to revive ecommerce store’s capabilities, improving on the customer experience and sales respectively. The product match is another great benefit of including AI in ecommerce. It allows an ecommerce store to display relevant and complementary products to customers, increasing the chances of inclusive sales. In essence, AI can assess color, size, shape, and more attributes of a product. Understanding such attributes enables a business to come up with relevant products easily. Moreover, through identifying visual cues in an image of a product, AI can show products that a customer may desire to purchase. For instance, if a customer searches for a Nike’s Shoes on your ecommerce store, AI might show Adidas shoes, fitness shirt, or trouser in suggested products. This might lead to more sales on your ecommerce store.
Among the best sales’ concept, re-targeting potential customers hold great importance. According to a research, the sales staff do not nurture about 33% of the leads. It means a business might be missing on a large number of potential buyers that may be actually interested in your product or service offerings. Moreover, various business are imbued with unorganized customers’ data that can actually help in improving sales intelligence, building customers’ insights, understanding customers’ buying behavior. For instance, CCTV cameras have been used for a long time by retailers to identify shop lifters and thefts. However, through utilizing AI concepts, retailers can used these CCTV recording to identify recurring customers how come often and make purchases. Afterwards, they can see if a customer spend more time on Android or iOS devices, identifying their preferences towards individual products. Later on, a retailer can offer special offers to specific customer on products that they prefer more.
AI is changing the face of marketing and sales. Thanks to AI that today, businesses can actually read mind of customers and leverage the information to come up with better sales offering.