For the past few years, e-commerce had expanded by 25 percent and further seems to boom with wider extension. So far, retail e-commerce business trend earned more confidence among customers with its efficient servicing and futuristic approach to e-commerce.
E-commerce is advancing forward as more companies are adapting to new technologies to gain more customer experience. Emarketers predicts by 2021, around 72.9 percent online purchase will happen through mobile devices. This confirms the statement “How much mobile support is mean to e-commerce?”
A new era commences with AI in e-commerce
One of the popular eCommerce platform enterprise “Amazon” has never seen set back in its business for it has explored the importance of artificial intelligence in business over the past few years. Its amazing application machine learning handle AI cloud computing strategy to reward customers with profound experience.
In addition to e-commerce business companies, the largest social network platforms like Yahoo, Facebook has already started to include AI features to engage more customers with better insights. Thus reshaping business with Artificial Intelligence in e-commerce can upgrade any retail to hold great resource.
How one can effectively source AI to business growth?
In this ultra-modern world of technology, artificial intelligence is the most governing technology of all other technology trends. But have you ever thought of resourcing AI to complete e-commerce benefit? This article will provide you with valuable information on the topic. Today AI is the top trending topic in any technical magazine. As a result, top ventures like Google and Microsoft invested in AI development. Below is the key point for utilizing AI in your e-commerce business.
Make Predictions on the trading process
Gone are the days where Business promotion is made by cold calling searching contacts through yellow pages and past data to meet the reliable customers. Today marketers focus on advanced digital marketing trending including paid marketing, search engine optimization, email marketing, and several other techniques.
Once the advertisement is an effective platform to make more leads but now the information stuffed story narration ads through snapchat and YouTube have brought a new shape and phase to advertisement strategies.
In a similar manner AI in e-commerce can be helpful in taking the business to online, display the products, settle the queries of the customers and several other multitasking by automation process.
More focus on customer search and service
Implementing AI can automatically categorize and prepare tags for the identified videos/ images, product logo and handle budget on different scales. It is true to the fact that a company implanted with AI can bring new color to their business.
Another benefit of including AI will be finding the product match. This is helpful to show the relevant products to the customers based on their searches thereby increasing the chance of pitching a sale.
Customer service can drive sales in either of the below two points:
- As per Business Insider, 77% of the customers recommend the brand based on the good service.
- 54% of customers stop purchasing after poor shopping service experience.
To solve this, AI along with chatbot to kindle the best customer service similar to human interaction. Chatbot has tremendously developed and advanced in handling orders, keep records dispatching the product for delivery, send messages to customer queries and speak to customers.
As per the statistics, nearly 33% of resourceful and interested leads are skipped off by the sales staff unknowingly. The statistics are simply missing the moderate number of leads who may actually be interested in buying the product.
Deploying AI can recover this negotiation and actually helps in improving the sales. A large number of companies are loaded with good sum number of lead information but obviously unable to utilize the resource. Application of artificial intelligence in e-commerce will be the diamond insight for the business to improve ROI.
Personalization across various device platform
AI can predict the customer behavior in any web pages by using the algorithm under machine learning concept to make a conclusion on the customer interest in purchase. Amazon already installed AI to previously go through the history of the search result and recommend the related product at the top of the page along with price tag and discount. In this manner, e-commerce business can deliver remarkable service to customers across different devices.
Development is not for Today, It’s for Better Future
Overall AI and machine learning are going to take the traditional approach of e-commerce protocol to modernly advanced level. The change doesn’t affect the present but as better bedding for the future e-commerce and its the right time for all the retailers to work together before the theme gets outdated. Thanks to AI for all retailers can study the mind of customers and leverage a comprehensive service.