AI continues embedding itself in all facets of our lives. From the rising number of self-checkout cash registers to advanced airport security checks; artificial intelligence is pretty much everywhere.
With giants like Google and Microsoft already investing heavily in new AI projects, it is widely expected that AI is going to go into turbo drive in the next few years.
In this blog post, we’re sharing efficient and realistic ways of E-commerce companies use AI in the online shopping environment.
How AI Can Boost Your Ecommerce Sales
Ecommerce marketplaces exploit Artificial Intelligence to assist superior skilled consumers and to simplify the different operations.
Here are some tips for which AI can revolutionize the eCommerce environment, helping rapidly expand and scale e-commerce marketplaces:
It’s no secret that a number of E-Commerce stores are planning to retarget promotions to draw more clients. Anyone who hasn’t converted with new deals in a previous Marketing campaign is retargeted after a while.
Such attempts, however, are dependent on considerable guesswork. In other words, you can’t tell for sure whether this time the retargeting efforts would succeed, and customers willing to convert.
On top of that, a lot of marketing efforts and money get wasted on leads that never get in touch, to start with. Your retargeting objectives can be greatly enhanced with support from AI. AI will provide useful information for the user.
It does this by analyzing vast swaths of free data roaming across the Internet. With the right information in your arsenal, you can create unique messages and tailored deals to more effectively and effortlessly guide a retargeted potential customer down your Sales funnel.
Decreasing Cart Abandonment
One problem that plagues Ecommerce Sales is the rate of cart abandonment. Consumers are ready to buy but at the checkout point, or even sooner, they abandon their carts for some reason. Indeed, the cart abandonment rate for online retailers has reached 69.57 percent worldwide.
For strong sales on your E-commerce site you want as few abandoned carts as possible. Luckily, AI can also assist you in this matter. That said, AI will help you automate any abandoned cart for follow-up inquiries. Therefore, it will give you data on why your leads wanted to give up when they were so close to converting.
It may have been a technological glitch, lack of payment options, shipping requirements or additional charges that had not been listed before and so on. The knowledge you gain will help eliminate barriers that encourage customers to leave their carts and increase their purchases.
Gathering Data About Customers
Sales boosting is about recognizing the desires, interests, demands, and aspirations of the customers. Any E-commerce store that wants to experience a rise in revenue needs to be able to satisfy the demands of the consumer as well as their expectations. When you really understand your clients and know what they want, you can’t do that. AI will be of assistance with this.
Any AI information that can provide you with can be used to enhance your efforts, tailor and tailor deals, and inspire customers to make purchases from you by catering to their needs. The more reliable and appropriate information the Ecommerce store receives from AI, the more Sales it can generate due to more educated and strategic decision making.
Improving Customer Service
It’s no secret that one of the most significant reasons for improved revenue is customer service. If for whatever reason, customers aren’t pleased with your E-commerce shop, they probably won’t make a purchase and may leave your shop for good. AI will provide you with a reasonable solution, once again.
The solution comes in chatbot form. A simple AI-driven computer program can make a difference when it comes to delivering excellent customer service and support. Chatbots are available in messaging apps and they can use natural language processing to connect with customers seamlessly.
What’s more, many customers can be handled at once and they can be running 24/7. That isn’t the most unusual thing about chatbots though. The key benefit of AI chatbots (link this to the blog about “Benefits of Using AI for Flattering Customer Experience” when published) is their ability to respond to consumer needs by analyzing any relevant customer details.
Wrapping It Up—AI & The Future
Although the word ‘artificial’ may mean something negative or dehumanized, artificial intelligence enables companies to provide their consumers with a more personalized experience.
AI helps E-commerce merchants to evaluate millions of interactions on a regular basis and eventually tailor deals up to a single customer – an opportunity every marketer wishes to have.
Sales teams are now equipped with knowledge that we have never before seen. Via AI-driven applications they can personalize the sales cycle that lets sellers reach the right prospects with the right message at the right time.
AI technology would definitely have a huge and beneficial effect on the E-commerce industry in the years to come. It will change, and the way customers find goods online will undoubtedly improve.