Artificial intelligence is one of the most used buzzwords nowadays in the tech world and it has reasons too. There were never so many possibilities and opportunities existed before this and artificial intelligence has the potential to give a paradigm shift to the way people do businesses. However, we have just heard about artificial intelligence and what does that means, but most people are not aware of how this powerful technology can be used in business.
Google has recently purchased a company called DeepMind for £400m which makes algorithms and machine learning for businesses and this example is enough to show the potential that this technology has.
Another thing we need to mention here is the way businesses interact with the customers and how artificial intelligence will play a role in it. As per the study by Business Insider, by 2020, 85% of business interactions will be done without any human interventions.
In this article, we will discuss how you can use artificial intelligence in your e-commerce business and take it to the next level.
1. AI helps in creating a customer-centric search
One of the most annoying feelings for customers, when they are using an e-commerce app or a website, is irrelevant search results and usually, people don’t appreciate it. They will simply abandon your website or app or in some worst scenarios, they will uninstall the app from their device. You cannot let this happen. That’s where artificial intelligence comes into the picture. Machine learning and artificial intelligence understand the content of the search and show relevant search results that are identically matched with the search keywords. We can say that AI makes searches smarter and intelligent.
2. It helps to retarget potential customers
Sometimes, we are so overloaded with the customer traffic that we cannot attend them personally and most of them abandon the store or an app without buying anything. Well, it does not mean that they were not interested. How about we are facilitated to know which customer was interested in which particular item?
Your store’s CCTV camera and artificial intelligence technology can find a solution for you. Nowadays, businesses are using artificial intelligence and machine learning to retarget those customers who bought nothing but spent a significant amount of time at a particular product. With facial recognition and dwell time, customers can be retargeted accordingly to lure them to buy items they were interested in.
3. It creates a more performance-oriented and efficient sales process
Effective and engaging interaction with clients is the need of the hour and artificial intelligence can help you to respond to customer queries and issues with the technology such as natural language learning and voice input, for example, Siri and Alexa. You can even do multitasking for a wide variety of functions and processes simultaneously with AI-driven CRM systems.
4. It helps in personalization
Personalization is there in the e-commerce business and we know about that. Fair enough. However, with advanced artificial intelligence technology, businesses are creating new levels of personalization by monitoring all decide such as mobile applications, websites or other platforms. AI-based machines are constantly looking around what customers are doing on their devices and allow businesses to make personalized offers for them.
5. AI-enabled chatbots help customers
Do you want to add that personal touch during the customer life cycle? Adding AI chatbots is helpful for businesses to give special attention to the customers by helping and assisting them while they are on the app or website. Customers sometimes get confused while surfing the website or an app and due to confusion, they simply leave. By introducing chatbots, you can help them to resolve issues they are experiencing and provide an unparalleled user experience. They will surely appreciate it.
6. Get help from virtual assistants
Most of the virtual assistants are making a significant mark in the customer journey and e-commerce businesses can take the advantage of it by enhancing customer experience and by incorporating these virtual assistants in their sales channel and take advantage of it.
7. Improve recommendations for customers
Customers don’t just look for quality products and services, but also look for gratification. Millennials have different behavioural patterns and businesses need to address them most intelligently. With artificial intelligence, you can predict customer behaviour and previous searches and interactions and make relevant recommendations and offers to them. AI algorithms are smart and intelligent and they can scan through customer’s account details, purchase history, searches, third-party data and other crucial information and make relevant recommendations to them.
Artificial intelligence and machine learning technologies are bliss for e-commerce businesses and all they need to do is to use these tremendously powerful technologies to improve the user experience, provide better recommendations and to increase their sales volumes and revenues. It will surely take your business to a new level.