Artificial intelligence simply defines the machine’s ability to think, learn and act like a human. Today AI is directly or indirectly affecting almost every aspect of our life. And the day is not far when AI will outplay humans at virtually everything. E-commerce merchants have also realized the importance of AI and started its integration to understand customers and create a better user experience.
Artificial intelligence simply defines the machine’s ability to think, learn and act like a human. Today AI is directly or indirectly affecting almost every aspect of our life. And the day is not far when AI will outplay humans at virtually everything. Many USA based E-commerce development companies have also realized the importance of AI and started its integration helping retailers to understand customers and create a better user experience.
Here we have described some of the ways through which AI technology can make a big difference in e-commerce business by reaching more customers and making the sales process more efficient.
1. Image and voice search:
The challenge for e-commerce retailers is to make the search process shorter and smoother. Today customers are looking for the most convenient way of shopping. They don't want to go through the trouble of exploring thousands of the product to figure out what to buy in the shortest possible time. Based on customers’ search history AI-powered image search feature will recommend the products that might be just what the customer is looking for before they give up. The other emerging solution is voice search. Visual and Voice Search are built using Deep Neural Networks, a subset of machine learning which enables computers to cluster information which may be text, images or video like humans do. Manye-commerce development companies have started optimizing their customers' websites for voice and image searching already. They are investing heavily in getting these 2 search methods to make their website more responsive.
Reaching the right customer at the right moment with the best deal is a very effective and straightforward way of marketing campaign.AI tool collects the buyer data, track their preferences, creates the algorithm and sends personalized messages or ads taking their purchasing behavior into account. Sending them personalized content not only increases the probability of purchasing but also will make them feel valued which in turn increases your brand loyalty.
3. Advertising channels
Google, Facebook, YouTube, and SnapChat ads – will help to find potential buyers or sales-ready leads – which your sales team can persuade with its efforts and convert them into actual buyers. You can integrate AI into your CRM to answer the queries, solve their problems, and thus, find an opportunity to sell or resell. That means, fewer efforts and spends, but more outcomes.
Chatbots are an exceptionally effective marketing tool that does wonder to your company’s image. AI-powered chatbots help you to hold the conversation with the customer in a most natural way that customer doesn't feel like they are talking to bots. Moreover, your customer service availability for 24X7 inform of chatbots will make your brand more trustworthy. Bots help automate customer queries ranging from cancellations, returns, shipping inquiries, replacements concerns, refunds and payment hassles. These automated bots also boost the conversion rate and revenue since they make sure their customers aren't being left unattended.
5. The decrease in the cart abandonment:Cart abandonment is a major cause of concern for most of the online retailer.AI will come to your rescue by engaging the customers in real-time to convert them into buyers. AI tools can use machine learning to help marketers to target the customers by collecting the data which includes product, cart data, page visits, time-on-site, which illustrates abandonment trends and which products are abandoned the most often. Automation is an effective way to bring back your customers by sending them targeting offers, discounts, live-chat to shoppers on your site before they abandon.
6. Management of the inventory
Online retailers are facing big challenges in supervising the flow of products from the manufacturer to warehouse and from the warehouse to point of sale. Overstocking and understocking can have a disastrous effect on your turnover.AI will help in many ways to overcome this challenge and help you to establish an efficient supply chain. Artificial intelligence and algorithms can help with order velocity forecasting. The other perks of AI-based inventory management like automated inventory monitoring, data mining, and robot automation will have huge positive impact on daily operations as well as achieving better results. AI can really make it easier and simple.
Customers are constantly pushing retailers to change their pricing strategies. Therefore, it is necessary for retailers to apply flexibility when it comes to their price structuring, in order to retain customers. Hence e-commerce retailers are adopting assortment intelligence to forecast— which products to keep selling, which products to add, and which products to discontinue. AI can help in an accurate way by using the algorithmic model to monitor their competitors’ product, then provides the ability to quickly adjust their own product and pricing with high accuracy.
8. Assistance in logistics:In e-commerce, AI finds its extensive application in logistics for finding the most efficient route for the delivery of the products. Moreover, this feature is just amazing since it has always been tricky to find an ideal route to deliver the product to the customers within the stipulated time. It ultimately reduces the delivery time and increasing the customer’s satisfaction level. Customers always believe in going with the service provider who can give them delivery on time without any hassle. And AI can help you in this context.
Millions of searches are being conducted every minute on search engine and users want the most relevant and definite answers from Google.AI in SEO will help the user to arrive most relevant search results. About 40% of eCommerce traffic comes from organic searches. Hence, SEO is key to the success of an eCommerce store. SEO based AI tool can help you with the keyword research, content optimization, relevant tags and predict the best time to publish content. Thus AI will drive traffic to your website by improving user experience and at the same time will boost your ranking on the search engines.
Conclusion –
Today the eCommerce industry has embraced AI with open hands because of the exceptional benefits it offers and in future also it will continue to provide customers better services, products, and personalized experiences and will help marketers to maximize company’s marketing efforts while minimizing the need to spend money on ineffective ad campaigns or pointless stuff.
