10 Ways AI is influencing E-commerce
So how can e-commerce stay away from the impacts of Artificial Intelligence? In this post we will talk about 10 ways, AI has changed e-commerce.
1. Searches are Customer-Centric
CEO of Twiggle reveals that they have enabled e-commerce search engines to think the way humans do. He maintains that irrelevant search results push away consumers. He says they have used natural language processing to narrow down, contextualize and finally improve search results.
2. Easy Retargeting of Potential Customers
33% of marketing leads are not followed by the sales team. Pre-qualified potential buyers interested in your product or service, fall through the inevitable cracks. In addition, many businesses are overloaded with unmanageable customer data that they do little or nothing with. This is the loophole AI can fix to enhance the sales cycle.
If a customer spends too much time, to a specific product, this information will be stored for his next visit.
3. Spot Remarkable Target Prospect
Latest AI technology empowers e-commerce businesses by providing timely intelligence for solving their business challenges such as lead generation. Predictive marketing businesses, for example, Mintigo, provides AI solutions for marketing, sales and CRM systems. Through Mintigo’s software, Getty images have successfully generated significant new leads by capturing the data which shows which businesses have websites featuring the images from Getty's competitors.
4. Efficient Sales Process
Do you want to tailor your problem-solving solutions? Do you want to create a strong sales message that reaches consumers at the right time on the right platform? Probably, integrating AI into your CRM is what you need to do. The number of AI systems enable natural language learning and voice input such as Siri or Alexa. CRM system can answer customer queries to solve their problems and identify new opportunities for the sales team.
5. New Level of Personalization Across Devices
If you are the frequent user of Amazon, you must know what do we mean by personalization. However, new and deeper levels of personalization are now penetrating e-commerce world, due to advancements in Artificial Intelligence and Machine Learning.
AI-based personalization takes a multi-channel approach. Boomtrain, new AI engine takes the multi-channel approach. It sits on top of the multiple customer touch points to help the business analyze how customers are interacting online. AI engine is continuously monitoring all devices and channels to create a universal customer view, whether it is a mobile application, the website, or an email campaign. Thus, e-commerce retailers can deliver seamless customer experience across all platforms.
6. Personal Touch By ChatBots
Customer's expectations are different because of the plethora of technological advances. E-commerce is now focused on building experience for the individual and not mass market. In this context, conversational commerce is a widely accepted approach. This is the confluence of visual, vocal, written and predictive abilities.
One of the best ways to drive the conversation in the next era of conversational commerce is chatbots.
The chatbot is a specific computer program that is designed to simulate conversation with human users over the Internet.
Chatbots can efficiently manage some of the responsibilities that come with managing the business, specifically marketing and operational tasks. They automate the order process and are the low-cost mean of providing customer service. The number of potential customers of a chatbot is directly proportional to the number of shopping carts your application supports.
7. Entrust Storeworkers
There also has been some consideration of how to replicate helpful experience in-store. One good example of its implementation is Lowe.
They introduced the first autonomous robot in late 2014 and named it LoweBot. It was a tall shopping assistant greets the customers at the door of the store. After welcoming it guides them through the store. It also uplifts storeworkers by helping them with inventory management.
8. Tackle Fake Reviews
If you are a store owner, fake reviews will annoy you at least once in life.
Everyday consumers are flooded with an abundance of advertising, which affects their decision making. These scenarios make word of mouth uncomparable and invaluable. If your friend had a positive experience with the product, you will most probably buy the product too. Positive online reviews always influence buying decisions.
Fake reviews can result in severe issues, but AI can manage it.
These reviews are the cornerstone of trust in the online shopping world, as the users are unable to physically check the product. Amazon uses Artifical Intelligence to deal with fake reviews. Built in-house, their AI machine-learning systems are responsible for boosting prominence and weight of verified customer purchase reviews. Moreover, there is a preference to those reviews that are marked as helpful by other users as well as the newer and more up-to-date critiques on its site. The business is continuously reviewing several review characteristics such as ratings to test the authority of reviews. They are critical to the company as they help to build customer trust.
9. Integration With Nearly Everyday Household Item
LG Instaview Refrigerator is one of the best examples of AI integration in household items. LG has experimented with numerous previous versions with enormous touch screens built in the door. It also acts as a virtual assistant and let you know about the news and weather updates. Moreover, it lends a hand to your shopping orders.
Conclusion
Artificial Intelligence has undoubtedly made e-commerce business very convenient to operate. Customer experience is more personalized now. Retailers can analyze millions of interactions every day to ultimately target a single customer.
