Today, artificial intelligence is omnipresent. All brands, irrespective of the industry, business professionals, homemakers, and even children, literally everyone has seamlessly synced with this wonderful technology that is making our lives better and hassle-free. Unassumingly, we are using artificial intelligence in some or other capacity every single day. AI is doing things more smartly, efficiently, intelligently, quickly, and most importantly, economically. From guiding us with the quickest routes to writing proficiently and turning marketing campaigns into huge successes, AI has completely transformed the way we interact with the world.
For most industries, customer engagement, customer satisfaction, etc, is of paramount importance, this applies all the more so in the case of e-commerce websites which by far has the highest conversion rates. The art of identifying your target customers, and buying and selling products has transformed entirely, all courtesy of artificial intelligence. Today, organizations are working doubly hard to maintain their competitive edge and retain loyal customers. Customers are demanding a more emotional connection via a 1:1 experience and IA is enabling e-commerce websites to get a 360-degree view of the customer while optimizing the buyer’s journey.
According to research by Gartner, around 6 out of 10 businesses spent up to 50% more on retail and e-commerce in 2022 as compared to the figures last year.
Recommended: Salesforce Expands AppExchange Commerce Ecosystem for Retailers to Find Success Now
E-commerce is way beyond online sales or whether your brand is a well-known or a relatively newer one, what matters the most is how you are treating the customer and what the odds of them coming back are. In this article, we are exploring the different ways how AI is strengthening the e-commerce game.
Copywriting
Artificial Intelligence copywriting is the new sensation in the sales and marketing world. This concept is entirely transforming the way an ad sales copy is generated. From writing click-worthy headlines and intros to writing product descriptions, this AI writing software is flawlessly performing the task of a copywriter within seconds. With advanced AI language models, this writing tool can generate all kinds of content – social media content, digital ad copy, or any other e-commerce copy.
Chatbots
When you are shopping at a physical store, you have store employees to help you with queries regarding store navigation, product inquiry, and basically, assist with finding what you’re looking for. E-commerce did have its customer service representatives offering phone support to do the same job, but now with AI’s massive entry, brands can now offer an instant response. E-commerce retailers are heavily relying on the use of chatbots and virtual assistants who are always at the customer’s disposal 24*7. With the ability to interpret voice-based interactions, chatbots use natural language processors to offer a seamless and personalized customer experience. Programmed with self-learning capabilities, chatbots are gradually equipping themselves better in addressing customer queries and needs.
Personalization
One of the best features of AI is its ability to offer personalized product recommendations and advertising just when the customer is looking for it. Ai algorithms scour through large data sets to extract insights enabling them to predict what and when a customer wants and offers exactly the same. Besides, AI can also sift through your shopping history and throw recommendations based on the same. For instance, if you recently purchased a sponge, AI algorithms will smartly suggest other cleaning products on your page. This technology works on all platforms like mobile, websites, and email. This granular level of personalization via content, products, ads and recommendations can offer a delightful customer journey.
Recommended: Kore.ai, mParticle Partner to Meet Increased Demand for Retail Shopping Personalization
Inventory management
Another feature of e-commerce that is reaping the benefits of AI’s predictive analysis is inventory management. It’s a known fact that storage facilities do not enjoy the kind of space or money required to always stock up on products and this is precisely why product prioritization is essential. And so, it’s imperative the inventory is up-to-date, stored correctly, and ordered in advance based on the customer demand prediction. With machine learning, websites can stay ahead of their all-time favorite products and other inventory.
In the ever-evolving digital space, the majority of e-commerce websites are happily imbibing AI techniques and tools to enhance their analytical insights and provide a more personalized customer experience while strengthening their brand positioning.
[To share your insights with us, please write to sghosh@martechseries.com.]
Comments are closed.