AI in e-commerce won’t be the same after this year’s events.
While the coronavirus pandemic froze the whole planet, offline stores found they couldn’t compete with even the smallest online stores when their homes or neighborhoods limited people’s lifestyles.
But those who just started online sales this year will quickly find out what to do to sell efficiently on the internet. It is why the overall competition will rise.
How can you gain a foothold now?
This foothold can be achieved with these modern applications:
- Artificial intelligence (AI)
- Machine Learning (ML)
- Big data.
There are enumerable applications, services, and programs created on these technologies, but all are not applied balanced to online retailers who are quite costly for implementing.
About Artificial Intelligence
Artificial Intelligence technologies help computers execute the task of successfully training computers at various abilities and learning from experience.
As a whole, AI started in 1956, which made an old and reliable application with aggressive mathematical and software knowledge.
The Application of AI in the Growth of Digital Marketing
Different AI technologies are being developed:
- Deep learning
- Natural language processing
- Machine learning
- Fraud detection
- Neural networks
- Cognitive computing
- Computer vision
- Internet of Things-based technologies.
Since modern business settled on the internet, it has been a long time, so AI has much work with all the memories of behavior, finance, and marketing data that businesses existed.
Moreover, if two of five Artificial Intelligence startups are not AI-based, you still find some AI-based solutions to amplify sales growth.
The biggest negative of AI is that they are dependent on the data you feed them.
If there is not enough data or low quality, you won’t get much use because it takes time to map this application into this environment.
Where and why you should use AI in an e-commerce business?
AI can’t work without volumes of data. Because of such reason, before using AI, the quality of data is essential.
AI motivates businesses to bring together departments such as
- Customer service and even logistics are into a single data structure where data quality is highly prioritized.
When every business data is stored and collected, then.
- No data loss
- No looping
- No format disorders
All connections are logically bounded, and AI application is used to process such data to get high-quality analytics with enough power to solve challenging business issues, improve processes, and strengthen customer satisfaction.
A list of benefits existed by using AI for businesses:
Smartly assist customers with their search for conversational commerce.
Using AI, you can improve your website’s search logic and create a Chabot assistant that helps your users place orders from anywhere.
Create personalized CTA:
By tracking and saving all touchpoints and all products, your customers with all reacted prices determine the specific goods and CTA that each customer wants.
Stop guessing the user’s way and forecast:
Create a user path as flexible as with AI recommendations. When you forecast user behavior, you will get a competitive advantage due to flexible margins and the possibility of estimating your future marketing plan performance.
Reduction of human mistakes in supply chain planning and adjustments.
Make your inventories and goods available at any time in the volume of customers needed through Artificial Intelligence.
This optimization is possible with online and in-store and can give you real-time 100% transparent warehouse stock levels.
Get notifications or unauthorized transactions, vendor activities, fraud, and shrinkage with time to get involved in the situation and find out what’s happening.
Skyrocket your sales
AI collects data from sensors like video cameras, where you get the magical ability to track your customers inside your physical stores.
Examples of how AI helps in e-commerce
Improves personalized escalations with specified AI insights
AI sales targeting is one of the most popular technologies of such insights. It is used for automatically determining customers who want to buy now and sending them personalized offers.
This task is impossible for humans but easy for algorithms that use AI.
You can create to-do lists of automated reactions for defined types of customers:
- Churning customers
- Seasonal purchasers
- Customers who have given feedback
- Wholesale customers
AI experiments can result in sales growth, minimize deal closure times, and automate the whole sales process.
AI bots to deal with customer overflow
It would help if you had a bot to follow up with many leads after a successful advertising campaign. AI bots are most useful when reacting correctly and promptly to any message from your potential customer.
The crawl has to:
- Create the first contact with customers.
- Respond to Frequently Asked Questions on simple contents
- Schedule a meeting for a day to get back in contact if a lead can’t reply immediately
Even the most straightforward AI bots work better than, with increasing revenue. Bots reply by email with answers based on trigger words or respond via a chat window on your website or by Facebook Messenger.
Artificial Intelligence has visual search and image recognition and their creative applications in e-commerce.
Visual search can provide significant customer satisfaction and provides innumerable results. Pinterest Lens for visual search will hide inside Artificial Intelligence.
Retailers like Asos and Target use AI applications for virtual fitting rooms.
Choose a photograph and category of goods you’re looking for, and the algorithm will give you a best-fit match.
Building thousands of ad campaigns with visual search or image recognition, or augmented reality will make your brand outstanding and memorable.
Advertising never gives you more than 400% ROAS, that goods won’t sell themselves without detailed description, photographs, and visual content, and customer satisfaction will not only give refunds without handling protests. Avoiding new technologies that help your business to optimize prices and increase revenue leads.