Table of Content
- 1.AI improves retargeting leads
- 2.AI decreases Cart Abandonment rate
- 3.AI chatbot to enhance customer experience
- 4.AI assists in understanding customer desires
- 5.Increases the Conversion Rate
- 6.Improves customer experience in various ways
- 7.AI to create more sales
- 8. Learning past purchases and online browsing habits
- 9.Forecasts future demands by analyzing patterns
- 10.Satisfying services that save customers’ time
- 11.Personalized recommendations, Voice assistants
- 12.AI helps with timing and strategy
- 13.Omnichannel conversational AI experiences
- 14.AI helps to automate processes
- 15.Better shopping experience from virtual trial rooms to image search
- 16.Hyper-Personalization and Predictive analysis
- 17.AI for data insights and optimization
- 18.AI makes smarter business decisions from inventory to Advertising
- 19.Virtual shopping assistants
- 20.Make customers feel special and valued
- 21.Recognizes patterns and make predictions
- 22.Multiple reasons
Technologies are evolving at a dizzying speed, bringing significant change to businesses. We can see how things that appeared unimaginable a decade ago have become common due to the influence of these technologies.
Artificial intelligence has gained a tremendous traction in every commercial sector, including e-commerce. Since it operates and thinks like a human, it can help businesses in addressing real-world issues and improve customer experience.
In this blog, we will explore various strategies to leverage AI in eCommerce development to enhance sales in the business.
AI improves retargeting leads
"It's no secret that many eCommerce shops create retargeting strategies in order to increase their consumer base. After a period of time, everybody who did not convert in a previous Marketing campaign is retargeted with new offers. Such attempts, however, are dependent on a lot of guesswork. To put it another way, you can't be sure if your retargeting efforts will pay off this time and if customers would be willing to convert. Furthermore, many marketing efforts and resources are squandered on leads that are never contacted in the first place. Your retargeting purposes can be considerably improved with AI's assistance. AI can supply you with valuable customer data. It achieves this by evaluating vast swaths of data that are freely traversing the Internet. You may build specialized communications and personalized offers to guide a retargeted potential customer down your sales funnel more efficiently and flawlessly if you have the correct information at your disposal."
"AI can be used to great effect by brick-and-mortar stores to retarget customers on their e-commerce websites. Stores can use AI-powered facial recognition software to note how much time a specific customer spends near a particular product. For instance, if a customer spends a notable amount of time next to a sunglasses section, this information will be stored. When the same customer visits the eCommerce site of the same store, they will receive special recommendations for sunglasses. In essence, AI will allow eCommerce websites to provide special offers to customers based on their in-store dwell time. This will increase the probability of customers purchasing those items, which, in turn, would increase sales."
"Businesses develop retargeting campaigns to gain more customers, which they missed in the last marketing campaign. However, this can be a challenging process because it is difficult to understand whether the lead will turn into a potential customer or not. With AI’s assistance, you can vastly improve your retargeting because AI can provide relevant consumer data based on your business needs. Moreover, this is done by analyzing the data from all over the internet. If you have the correct information, you can construct personalized offers to lead a retargeted potential client down your sales funnel more quickly and effectively. It will allow you to gain more customers, which in return will increase your sales automatically."
AI decreases Cart Abandonment rate
"Cart abandonment is one of the issues that affect eCommerce sales. Consumers are ready to buy, yet frequently abandon their carts throughout the checkout process or even before that. In fact, the global cart abandonment rate for online businesses has risen to 69.57 percent. You want as few abandoned carts as possible on your eCommerce platform for good sales. Fortunately, AI can assist you in this regard. AI, on the other hand, can assist you in automating follow-up queries for every abandoned cart. As a result, it might give you information on why your leads gave up when they were so close to converting. It could have been a technical issue, a lack of payment choices, delivery circumstances, or hidden fees, among other things. The data you get can assist you in removing roadblocks that lead customers to abandon their carts, resulting in increased sales."
AI chatbot to enhance customer experience
"It's no secret that one of the most essential components in increasing sales is the consumer experience. If customers are unhappy with your eCommerce site for whatever reason, they are unlikely to make a purchase and may eventually abandon it. AI can help you find the correct solution. A chatbot is an answer to this problem. When it comes to offering great customer service and assistance, a simple computer program powered by AI can make a difference. Chatbots are available in messaging apps and can communicate with customers using natural language recognition.
Furthermore, they may serve numerous customers at the same time and are available 24 hours a day, seven days a week. However, that isn't the strongest aspect of chatbots. Their key advantage is their capacity to cater to customer wants by evaluating any pertinent data about a single customer. They can offer advice, answer questions, and resolve any issues that a consumer may have. Younger generations prefer to communicate with a chatbot rather than a personal representative from your customer care and support department, hence chatbots are becoming increasingly popular."
"Using automation chat tools can help establish the tone of your brand while gathering more knowledge of your customer base, increasing sales and helping to improve the experience for the future. Gorgias is helpful to stay engaged at every step of a consumer’s visit to your site. As a tool, it harbours all the data it receives into a central location giving valuable information on customer habits, enabling us to edit orders, problem solve and stay connected while providing quality service every step of the way. Whether offering live chat or automating your responses with a personal touch, your ability to address specific requests the customer may have at the moment they are ready to act is the key to success in e-commerce."
"Almost all businesses are now remodeling their marketing strategies to target personalization over mass markets. Chatbots automate your customer service to an extent and help your customer get an immediate personal experience with your eCommerce website. Chatbots also take on some of the responsibilities from your customer service team and automate order confirmation and processes as well. It is a low-cost solution that provides many services and reduces the hiring of additional employees for some of these tasks. It is now becoming more of a need, as opposed to an option."
"It's no secret that one of the essential components in increasing sales is the consumer experience. AI can help you find a suitable solution. When it comes to offering satisfactory customer service and assistance, a simple computer program powered by AI can make a difference. A sales chatbot can help organizations save time and money while also increasing sales. A chatbot is less expensive than a human salesperson, can work around the clock, and is typically more effective. AI-enabled chatbots as the primary channel provide real-time help, quickly respond to inquiries, and increase customer satisfaction. So, immediately plan to automate customer communication and ensure a smooth customer journey at all times."
AI assists in understanding customer desires
"The understanding client wants, preferences, desires, and expectations is key to increasing sales. Any eCommerce store that wishes to generate sales must be able to cater to client demands and expectations. You can't achieve that until you actually comprehend and know what your customers desire. That is something that AI can assist with. In reality, the primary motivation for eCommerce businesses to use AI is to obtain a deeper understanding of their customers (31.4 percent). AI can collect and analyze customer data faster than any human data scientist. Nonetheless, any data AI can supply you with can be used to better your efforts, personalize and tailor offerings, and entice customers to buy from you by catering to their demands. The more precise and relevant data your eCommerce site receives from AI, the more sales it will be able to generate as a result of better-informed and strategic decision-making."
Increases the Conversion Rate
"Artificial Intelligence is beneficial in providing a fast response and accurate suggestions to customers. Chatbots are a common form of AI and this helps in retaining customers and increasing the conversion rate.
Take a look at the complete guide on eCommerce conversion rate optimization to understand it in detail.
AI is also capable of analyzing previous searches and suggesting similar products to customers which makes shopping and product-finding easier for buyers. AI is also capable of generating personalized messages which contribute to the customer's engagement. Campaigns and even the services themselves become more accurate through the help of AI. For the sake of increasing sales, the business should maximize the benefits that they can get from it."
Improves customer experience in various ways
"AI has opened new opportunities for the eCommerce industry by helping it improve the customer experience and generating new business. It is also helping the industry to gain a better understanding of business.
According to a study conducted by Forrester, the AI-driven business of e-commerce is expected to reach $9 billion by 2021. In 2020, more than 80% of customer interaction will be handled by AI.
When you shop for shoes in an eCommerce store, it is very helpful to have a list of similar shoes that are similar to the ones that you are looking for. This makes it very personal and valuable for the customer.
Voice assistance is becoming more prevalent in today’s world. It simplifies the process of finding products and making an order."
"Collection of customer data
To boost sales, you need to understand what your customers need. It is your duty to meet their demands and expectations, and AI can help you collect this data. AI gathers and interprets data quickly, providing you with important insights that can guide you. You will be able to improve your services, customize offers, and meet every demand of your customers.
Better customer experience
Customer experience influences the sales rate at any e-commerce business. When customers feel happy with your e-commerce platform, they will purchase your products. You can leverage AI to provide customers with the best experience in your e-commerce store. It can help you with customer service and support, ensuring customers feel satisfied with your service."
AI to create more sales
"Use AI to identify exceptional target prospects. New AI technology will provide you with the real-time intelligence you need to handle problems like lead creation. Mintigo, a predictive marketing company, for example, offers AI solutions for marketing, sales, and CRM systems.
You can also create a more efficient sales process using AI. Integrating AI into your CRM is the way to go if you want to customize your problem-solving solutions and generate a strong sales message that reaches consumers at the appropriate moment on the right platform. Many AI systems, such as Siri or Alexa, support natural language learning and voice input."
"Artificial intelligence is key to growing sales (as well as many other areas of business). For example, A.I. gives us access to customer data like previous purchases, searched products, and online shopping habits. This leads to better customer retention and as a result, higher sales. The more data we have the more we can provide a personalized shopping experience, which is really more and more what customers are looking for."
"Today, AI techniques are used in over half of the sales process. This can be done through chatbots, voice assistants, machine learning algorithms, and many other applications. This method is both innovative and challenging for companies who want to come up with ground-breaking services or devices. It also brings about new opportunities for online marketing professionals like marketers, executives, and developers alike which can be seen as a business opportunity for them.
Search engine optimization is the process of optimizing the search rankings by making small changes on a website to make it more visible to users who are searching for information on search engines like Google, Yahoo, or Bing. One of the most common problems online businesses are facing is that they are investing too much money in SEM without any success. The reason why the PPC and SEO get hard is that search engine rankings fluctuate constantly changing depending on how much activity there is on your website. You need to make small changes regularly to make sure your site will rank higher in search engines like Google and Yahoo (the main ranking sites). Using AI should help you improve PPC and SEO for yourself.
One of the most common problems we face today is that we do not trust or trust ourselves. Using AI in eCommerce development will help businesses that sell products or services that they are selling. You can use this technology in your business to make decisions on what to sell based on the customer behavior pattern and the previous purchases of the same type of product by your customers. Using AI will help you improve operations, marketing, and customer service which is a big advantage for businesses that want to be successful."
"One way that we use AI within our business is for something called retargeting. To put it simply, retargeting is when you target individuals with personalized content based on how they’ve interacted with your website. This does a number of things to help you increase sales. Firstly, it creates a more personalized experience for your audience. This strengthens your relationship with them and improves your chances of getting them to buy your product. Secondly, it reminds them of the products that they were considering buying or paying to use, which can bring them back to your website to finish the actions that they started. And thirdly, it can be used simply as encouragement (not just a reminder) giving them that extra little push that might be needed to convert them into paying customers. Retargeting AI has been an extremely valuable part of running our business for quite some time now, and we’re always looking at how we can improve in this area of our business to provide better experiences for our audience."
"AI is being used to produce targeted marketing and advertising, customer retention, and sales process improvement through automation. With that said, advanced chatbots that are intuitive are getting better at giving a customer experience. It also has new features such as natural language processing (NLP) to cater to the needs of voice-based commands of its customers through mobile and other smart devices. It also has the capability to self-learn so it can provide personalized or targeted product recommendations to online shoppers which increases conversion rates immensely."
Learning past purchases and online browsing habits
"With the help of big data, AI in E-commerce is able to tailor its customer experience by using knowledge about past purchases and online browsing habits. This leads to better retention rates for customers as well as being more likely to make sales with custom-tailored emails especially tailored towards each online shopper's needs!"
Forecasts future demands by analyzing patterns
"Artificial intelligence is a game-changer for e-commerce. It helps platforms forecast future demand by analyzing the website’s consumption patterns and anticipating inventory needs, all while increasing efficiency to reduce costs and improve business performance in an increasingly competitive world marketplace where customer satisfaction reigns supreme. One must not overlook how delivering on promises of fast delivery time (or response) can make or break one's online selling efforts with potential customers!"
"AI bots built with machine learning are being used by online retailers like Wish and Amazon for customer service, inventory management, product recommendations, and more. AI software also has its benefits in marketing, where it handles forecasting demand for products, handling promotions or coupon campaigns; making pricing decisions; creating personalized websites that offer offerings based on their users’ interests."
"Artificial Intelligence or AI helps eCommerce platforms to speculate future demand by assessing the website’s expected inventory needs and its consumption patterns. This enhanced efficiency lowers costs and boosts business performance. By utilizing AI, eCommerce sites can create customized online experiences and recommend necessary products ideally suited to each customer. Lastly, the biggest consideration of AI in eCommerce development is in enhanced customer experience by providing solutions through chatbots, which remain online 24/7 and satiate anyone's needs."
Satisfying services that save customers’ time
"Artificial Intelligence is often maximized to give satisfying service, thus generating sales. Many businesses can use this in having automated responses to queries, which can give faster assistance to customers. As we all know, speedy service and replies are a plus point for a business. Being able to answer back questions immediately can help both entities and customers to save time. Additionally, AI is also useful in anticipating customers' interests. They analyze recent searches of a user and suggest a respective product based on this. This creates an easier browsing experience for them."
Personalized recommendations, Voice assistants
"AI provides personalized recommendations to customers, making them feel valued and important, ultimately enhancing the customer experience.
- The use of voice assistance provides an easy way for users to find products and shop for them.
- Using visual search technology based on AI, real-world images such as snaps, screenshots, Internet images, etc. for online searches, customers can find exactly what they're looking for."
AI helps with timing and strategy
"A.I. can be extremely handy in helping sales teams hone in on the types of prospects who are more likely to make purchases. Not only that, but A.I. can inform salespeople of when the sale is most likely to happen. Timing is key. Essentially, the more data they have, the more they can create better, more tailored processes that appeal to the right customers at the right time. It’s all about the strategy. This is really key to the future of how we sell products online."
Omnichannel conversational AI experiences
"Accelerating revenue with conversational AI to deliver exceptional customer experiences is a must for eCommerce brands looking to gain a competitive advantage in the industry.
The fastest way to deliver this is through omnichannel conversational AI experiences on Facebook Messenger (1.3 billion monthly active users), Instagram DM Automation (1 billion monthly active users), and WhatsApp Automation (2 billion monthly active users) - meeting buyers where they are and helping them buy with ease, by engaging them in AI-Assisted 1-on-1 dialogues that add value to every step of their customer journey."
AI helps to automate processes
"With the use of AI, online marketers can focus on more targeted marketing and advertising, and with personalization now becoming an essential aspect of standing out and engaging with audiences online, through machine learning, online businesses can be able to analyze big data from purchase histories and other customer interactions, in order to effectively customize and personalize content by each user. This will then allow them to zero in on what the customers really want and allow them to deliver the message that is most likely to resonate with them. Moreover, through the use of automation tools like live chatbots or marketing tools, online businesses can leverage AI technology to help automate a variety of repetitive tasks that can help to keep your online store functioning and your customer service experience seamless. For instance, with AI , you can automate things like loyalty discounts, low-level customer support, product recommendations, and even create a more efficient sales process by automating abandoned carts follow-up emails, and more."
Better shopping experience from virtual trial rooms to image search
"E-commerce – being the mammoth that it is – could use every single bell and whistle AI has to offer. From virtual trial rooms to image search to virtual personal shoppers, AI has made some remarkable inventions to help people shop better from their homes. The most breakthrough AI technology that in my opinion e-commerce needs today, is personalized recommendations. Recommended products and related products that users see when they click on one product are major drivers of purchase. Instead of being lost in a sea of choices and fatigued from scrolling, which often leads to cart abandonment, AI can enable users to see more of what they love, prompting them to press Buy Now. AI can better understand what a user is looking for and steer them in the right direction. This way, users not only buy more but also feel satisfied with their experience, thus coming back for repeat business and minimizing return requests.."
Hyper-Personalization and Predictive analysis
"Messages are based on in-depth information of potential consumers' behavior, allowing you to predict your customers' wants and wishes. This hyper-personalization of messages extends beyond email and chat conversations. However, it also applies to all types of information, dynamic websites, and landing pages. The capacity to collect data is another advantage of having access to client profiles. Customers will be more responsive to your message if you use predictive marketing. It provides marketers with an advantage over competitors who continue to rely on traditional marketing tactics and channels.
Besides, personalization has been enabled by advances in AI and machine learning, allowing users to modify the material. It is a secret sauce to attracting more leads, closing more initial sales, and building a connection that results in happy customers and high lifetime values. You can discover what your customers want and convey the message that will resonate the most by evaluating big data from purchase histories and other customer interactions. The possibilities are endless, which is why AI and machine learning are becoming increasingly popular in the eCommerce market. Most of us marketers can't design, test, or check as many patterns as they can. They're also good at getting data on outcomes."
AI for data insights and optimization
"By using Artificial Intelligence, you can enhance the customer experience in the most efficient way possible. The best example would be offering personalized product recommendations to customers based on their past purchases or recent searches. The AI machine would most likely analyze the buyer's purchase history on the website and recommend products that would be best suitable for them. Retailers are now heavily relying on AI for data insights and optimization of content as well."
AI makes smarter business decisions from inventory to Advertising
"With AI, one can easily predict which products are likely to be purchased by any customer based on their past purchases and preferences. It helps to anticipate customer needs before they arise. It is common for eCommerce platforms to collect information about customers' shopping habits including previous purchases, product reviews, searches, etc., which can be used to create personalized recommendations tailored toward each customer's needs and wants. This helps you make smarter business decisions about everything from inventory to advertising."
Virtual shopping assistants
"One area where AI is really making an impact is virtual shopping assistants. A handful of online retailers have introduced chatbots that will help shoppers find their products or customize them with different features or sizes. Some retailers are using artificial intelligence to make recommendations based on what's most likely to sell at any given time. This helps stores better understand their customers' tastes and preferences."
Make customers feel special and valued
"One of the most important issues of eCommerce is personalization. After all, if customers feel like you care about them and understand their needs, they will surely return to your store time after time. That's why it's so important to make customers feel special and valued every time they visit your website. AI-based personalization solutions can help you achieve that goal by tailoring your site's content to each individual customer. For example, if you want to show some special deals to people who are interested in certain products or who recently bought something from your store, you can use AI-powered software for that purpose."
Recognizes patterns and make predictions
"Artificial Intelligence is an amazing tool that allows eCommerce store owners to get ahead of their competition. The real power of AI lies in the ability to recognize patterns and make predictions about future events, which means you can do things like personalizing your customer's shopping experience based on their previous purchases recommend new products they might be interested in, and even establish automated marketing campaigns designed to reduce cart abandonment.
It's important these days to take advantage of automation so that Artificial Intelligence and Machine Learning can do the bulk of work and operations. Through investing in AI, market monitoring is made easier with less risks of errors. Replacing traditional marketing methods is also deemed critical in the coming years with AI reducing costs and errors in all operational aspects."
"Collect Customer Data
Understanding customer needs wants, and expectations are key to increasing sales. Any eCommerce store that wants to increase sales must be able to meet and exceed customer expectations. You can't do that unless you truly understand your clients' needs. This means you can use the data AI provides to improve your efforts, personalize and customize offers, and encourage consumers to buy from you by meeting their needs. Because of better informed and strategic decision-making, your eCommerce store will be able to drive more sales.
It's no secret that many eCommerce stores use retargeting to increase sales. After a while, non-converting customers are retargeted with new offers. But such efforts are based on guesswork. In other words, you can't be sure your retargeting will work this time and that consumers will convert.
Reducing Cart Abandon
Cart abandonment is a problem for eCommerce sales. Consumers are ready to buy but abandon their carts at the checkout or even before. In fact, the global cart abandonment rate for online retailers is 69.57 percent. Fortunately, AI can assist you here. However, AI can automate abandoned cart follow-ups. It can therefore tell you why your leads gave up when they were so close to converting. Perhaps a technical issue, lack of payment options, shipping conditions or hidden fees caused the issue. By removing obstacles that cause customers to abandon their carts, you can increase sales.
Optimum Customer Service
It's no secret that improving customer experience leads to increased sales. If customers are unhappy with your eCommerce store for any reason, they will not buy from you and may leave permanently. Again, AI can help you. A chatbot is an answer. A simple AI-powered computer program can improve customer service and support. Chatbots are available in messaging apps and use natural language recognition to communicate with users. They can also handle multiple customers simultaneously and work 24/7. But that's not the strangest thing about chatbots. Their main advantage is their ability to analyze customer data and respond accordingly. They can give advice, answer questions, and resolve issues for customers. Younger generations prefer to communicate with a chatbot rather than a human customer service representative.
Technology has once again shown its value to online businesses. Technology like artificial intelligence (AI) will revolutionize eCommerce. That means helping online retailers increase sales as well as creating a new level of online consumer experience"
"Using the power of artificial intelligence can dramatically boost eCommerce sales. All modern marketers have likely heard of AI and are probably wondering how it can help their eCommerce business. The truth is those who don't use AI in their development process are missing out on some considerable sales opportunities.
AI has become an integral part of the marketing strategy for businesses across the globe. It allows them to not only analyze their data but also anticipate trends before they happen.
Since many eCommerce stores face stiff competition from other online retailers with similar products, using AI for market research will allow companies to better understand what customers want which could give them a competitive advantage over others who don't bother utilizing this technology.
The development of AI in eCommerce has been a long process. In the beginning, there were simply chatbots and they weren't very good at what they did. But now we have told like Maropost Commerce Cloud that’s using AI to make the shopping experience more personal and enjoyable. And with all these new advancements, it's no wonder that eCommerce is on the rise!
Ultimately, AI can help do two main things that lead to increased sales: save time and money.
1. Save time
Wouldn’t we all like that? With the right eCommerce platform that allows business owners to manage it all in one place, it’s possible. Here’s how.
- Add a blog, buying guides, articles, forms, unlimited products, and more
- Automate Marketplace listing, inventory, and orders
- Get real-time insights
- Simplify customer engagement, increase customer LTV and manage all aspects of the eCommerce site
By having access to all of that in one hub and connecting each aspect of the business to one another, so much wasted time and effort is erased. Instead of going to different platforms, trying to make them integrate and work together, fixing errors, manually inputting information, and doing it all daily, sophisticated automation tools do it all while also eliminating human error.
2. Save money
AI requires investment. Sometimes it’s a monthly subscription, other times there’s a set-up and an annual fee. So, it’s not obvious to have automation can save money.
- All the tedious repetitive tasks (like shipping labels printing) are terminated freeing up those resources for more productive work
- A well-integrated platform helps a business save money by only paying for tools that it actually uses. Instead of having hundreds of apps that offer overlapping functionality and don’t speak to each other, a unified solution can allow a business owner to manage it all in one place.
- Deep insights into buying behavior can save unnecessary advertising costs. Rather than targeting those who’d never buy from this store, ad dollars can be put to better use by promoting potential leads. Those leads can be uncovered through carefully curated insights and analytics that automation tools provide.
Most importantly, a good automation tool always allows for a test drive. Only by experiencing what it feels like to automate mundane functions to AI can a business understand the true value of automation."
"1. Use chatbots to offer a personal touch
Chatbots are a particular computer program that is designed to affect conversations with users over the internet. Very easily, chatbots can automate the order process and offer effective and low-cost customer service. When you integrate a chatbot system with one of your shopping carts, then it can easily work with all the stores based on the platform. Keep in mind that the more chatbot apps are supported, the more potential customers it has. Chatbots offer the most efficient customer support solution for eCommerce businesses. Such alternatives are available like contact forms, emails, and phone calls, but online chat is the fastest and most convenient way to offer wonderful customer support.
2. Product recommendations in a personalized way
Now with the help of AI technology, it's pretty easy to collect and process customer data about their online shopping experience. We've experienced that eCommerce brands have started using AI to offer personalized product recommendations based on customers' past behavior and lookalike customers. Many eCommerce portals which recommend items you might like based on previous purchases use machine learning to analyze the purchase history. eCommerce retailers depend on ML(machine learning) to capture customer data, analyze it, and use it to deliver a personalized experience, implement their marketing campaigns, optimize their pricing, and generate more customer insights.
3. Retarget likely customers with AI
As per Conversica, any eCommerce brand can retarget 33% of marketing leads that are left in between by the sales team. When you're running a marketing campaign, then you might have noticed that few customers have spent a healthy time on a particular product, and then suddenly they exit. This information will be stored for use upon their future visit. So, with the help of AI, you can easily retarget those customers on their next visit, or else you can retarget them on their social media accounts, too, like Facebook. With the advancement of AI technology, sales are changing, with businesses responding directly to the customers. eCommerce brands are now reading the minds of customers, and it's happening just because of AI technology."
"AI is a valuable tool in boosting sales for online stores, which is a vital aspect of eCommerce. Here are a few efficient ways AI can boost your eCommerce sales.
- Customer data
Understanding customer expectations, needs, and preferences are essential to boosting sales. This is where AI can help.
- Retargeting leads
AI can help you craft specific offers and messages that seamlessly direct retargeted potential customers down your sales funnel.
- Cart abandonment decreases
Automation can help revive abandoned carts. You can gain insight into why your leads gave up when they were so close to converting.
- Customer service
Chatbots powered by AI can provide exceptional customer support. By analyzing any relevant information about an individual customer, they can cater to a customer's needs 24/7."
"Artificial Intelligence has hijacked workplaces globally. It has been a movement that has brought a major shift in the outlook of labor and wage systems. E-commerce as a newly emerged field has especially benefited from AI and boasts of the sheer compatibility of both.
From self-checkout systems to security checks, AI has pressed the pedals on the global movement with companies like Google and Microsoft already
spending substantially on new AI efforts.
Collecting consumer data
Understanding client requirements, preferences, desires, and expectations is key to increasing sales. Any information it may give you can be utilized to accentuate your scales of effort and personalize and modify deals.
Your retargeting intentions can be significantly amplified with AI's assistance. AI can give you up-to-date customer data.
Consumers are ready to buy, yet often ditch their carts after approaching the cash register or even before that. Any online abandoned cart can benefit from AI-assisted follow-up questions. You may use the information you gather to assist you to overcome challenges.
Better customer service
A chatbot is an answer to your problem of not being able to serve consumers the service they want. When it comes to offering excellent customer service and assistance 24/7, a simple computer program powered by AI may make a difference. Moreover, it significantly decreases call time.
Suppressing churn and upselling
Implementing AI techniques in predictive analytics would help you retain customers and gain accurate knowledge on customer satisfaction.
AI can be helpful in providing you with precise sales quotas, optimized sales territory, flexibility in realigning sales procedures and incentives, and easy staff revision. It's even capable of predicting the impact of product adjustments. Predictive analytics may assist in identifying the possible impact of product changes and minimizing the sales impact.
Upselling and cross-selling
Upselling and cross-selling efforts are frequently concentrated on all of a salesperson's clients. AI can assist in determining who is most likely to purchase more and when as it can pick existing clients who are likely to sign on for additional or better solutions.
Automation cuts down on various additional costs and spares time for employees and salespeople to focus better on expanding the client base.
Increased selling time
Most salespeople will be able to spend more time selling as a result of AI. When it is harnessed to reduce non-selling time spent by salespeople, it has a favorable influence on sales operations. Instead of inputting data and lead sources into the CRM, it allows sellers to spend more time preparing for the early meetings."
"AI can be used to improve the customer experience and satisfaction and expedite payment administration and detect any fraud. Artificial intelligence (AI) is used by eCommerce businesses to enhance the buying experience for customers and keep them coming back.
Virtual assistants and chatbots
Online retailers increasingly use chatbots or digital assistants to provide 24/7 customer service. Chatbots built with AI are becoming more intuitive and improving customer experience.
Product recommendations made intelligently
Personalized product recommendations for online shoppers increase conversion rates and order values. Using big data, AI in E-Commerce influences consumer choices based on previous purchases, product searches, and online browsing habits.
Rated among the most effective modes, personalization is at the basis of AI in Ecommerce marketing. Based on specific data obtained from each online user, AI and machine learning in Ecommerce are deriving significant user insights from the provided consumer data. This information enables E-Commerce shops to offer good product recommendations and a consistent user experience across all devices.
Inventory management is about keeping the proper amount on hand to meet market demand without adding to idle stock. With the advent of autonomous robotics, AI is now enabling warehouse management, which is predicted to be the future of AI in Ecommerce. Unlike human personnel, AI robots can store and retrieve stock 24*7."
"Conversational artificial intelligence is just a technology. For e-commerce companies, the most popular implementation of conversational artificial
intelligence is artificial intelligence chatbots. Artificial intelligence chatbots have become very versatile. I have compiled a list of five ways conversational artificial intelligence can help drive e-commerce sales in 2021.
1. Additional points of sale
The point of sale is where the actual transaction takes place. For e-commerce companies, the end of the deal is traditionally their website or mobile application with shopping cart and checkout functions. But now, e-commerce companies are deploying sales chatbots, an appropriate point of sale and more than just a communication channel.
These sales chatbot examples use conversational artificial intelligence and have a shopping cart and checkout capabilities, allowing users to make
purchases directly from the chat window. They are usually deployed on popular messaging applications such as Facebook Messenger, WhatsApp, and
Google to make online shopping more convenient. Additional PoS is especially useful for e-commerce companies that sell relatively low-value
and low-risk products/services (such as groceries, takeaways, stationery, etc.) because these products are most likely to be ordered regularly.
2. The future of business information
Every company deals with customers through different communication channels. Traditionally, the two most popular business information channels
are email marketing and text messaging, but both platforms lack personalization and customization requirements today. Therefore, social media platforms are expected to surpass email and text messages in terms of popularity and effectiveness, achieving this goal through conversational
Different from the two one-way communication channels of SMS and email, chatbots open a traditional chat window to enable businesses and consumers to communicate with each other. This is a big step for customer engagement, and the results show its effectiveness. The average open rate of business emails sent by chatbots is 85%, the click-through rate (CTR) is 40%, the available speed is 23%, and the click-through rate is 3%.
In addition, consumers are easier to read information, but they are also easier to switch. A real example is Aveda, a cosmetics company, which deployed its chatbot and increased its weekly bookings by 7.67 times.
3. More effective retargeting
Usually, the initial business messaging is not enough to convert new customers, so companies have to retarget. Retargeting includes trying to convert enthusiastic potential customers or consumers interested in the brand but did not initially convert. Retargeting is very important because only 2% of online shoppers tend to buy on the first visit, but retargeting can increase the conversion rate of online shoppers by 128%.
Many features of chatbots make them very effective in business messaging and equally effective in retargeting. However, conversational artificial intelligence plays a more important role here because it is responsible for finding the most likely reason potential customers did not initially switch and taking corresponding actions. Luxury Escapes, one of Australia's largest travel agencies used conversational artificial intelligence in chatbots to successfully increase the response rate to 89% when retargeting.
4. Use digital assistants to shop faster and more conveniently
Another popular method is to use chatbots as digital shopping assistants and conversational artificial intelligence to promote e-commerce sales. E-commerce companies, including Lego, H&M, WholeFoods, Sephora, Domino Pizza, etc., have deployed their digital shopping assistants on their websites/apps or popular social media platforms.
Most shopping assistant robots use powerful artificial intelligence recommendation engines and conversational artificial intelligence to recommend products based on customer preferences and help them quickly find what they want.
5. Brand loyalty and repeat customers
Until market uncertainty is eased, improving cost-effectiveness will be one of the main goals of most e-commerce companies. Unfortunately, the balance between cost efficiency and better customer relationship management is challenging to achieve. Managing customer relationships is expensive, but since customer service has become the primary product differentiation in 2021, it is also the key to staying competitive.
Create a personalized welcome message.
The first impression determines whether a visitor will continue shopping or leave our website. That's why it's so essential to grab visitors' attention right from the start. With AI, you can create a welcome message to greet your customers by name (if the customer has already visited your store) or offer a coupon for free delivery. Moreover, chatbots can communicate in multiple languages depending on the location.
Notify your customers about an upcoming sale or available discounts.
Nothing drives sales like discounts and special offers. With AI, you can make sure your customers know about upcoming promotions in the first instance. Additionally, a discount chatbot can be triggered, for example, when a customer visited a specific URL, forgot to complete a payment, or read an article on your blog.
Recover abandoned shopping carts
Abandoned cart recovery chatbots are one of the most popular and effective ways to use AI in e-commerce. They are much more effective than standard emails because they can immediately react and assist the customer in completing the purchase. When the customer added items to the cart but didn’t finalize the transaction, your chatbot can ask him additional questions or offer a discount. A chatbot can also collect feedback to help you improve your store."
Artificial intelligence (AI) is one of the major technologies that is transforming businesses. It helps firms in assessing customer requirements through predictive analytics and generates results which once were unimaginable. This blog has gone through many techniques for using AI in e-commerce enterprises to increase sales. This assists firms in determining cost-effective methods to improve customer experience and increase revenue.