5 Ways AI Can Upgrade Your eCommerce Business
Business + ManagementAccelerate AIposted by Aviraj Makhija Makhija May 24, 2019 Aviraj Makhija Makhija
The eCommerce sector is one of the most profitable ones, with millions of online stores and digital portals showcasing products meant to cater to you from head to toe. According to Statista, the eCommerce revenues worldwide is anticipated to grow to 4.88 trillion US dollars in 2021.
Clearly, the industry is at its peak, but intense competition poses a threat of losing customers which isn’t any less than a nightmare for digital entrepreneurs. They try to design and develop an intuitive eCommerce portal to provide customers with a seamless buying experience – which isn’t easy at all.
AI-driven tools and platforms are improving the eCommerce customer experience and optimizing their buying journey by integrating personalization and prompt support. Considering the potential of this modern technology, the majority of eCommerce entrepreneurs have started embracing it for building a well-designed portal turbocharged for optimum visibility and website conversions to thrive in the overcrowded marketplace.
Are you one of those wondering how can you integrate AI in your eCommerce business for optimizing the web presence, enhance brand competitiveness, and build customer loyalty? Let’s look at the five crucial ways in which this advanced technology can help you in increasing sales conversions with minimum investment:
- Leveraging The Ultimate Power Of Personalization For Developing A Connection With Prospects & Existing Customers
AI has the power of storing and analyzing huge amounts of data quickly and efficiently. Leveraging customer-related data available, digitally AI-driven engines can identify the patterns and buying habits of customers.
Based on the evaluation, you can easily create personalized ads and other content which can fulfill the specific needs of a user on an individual level. Also, these tools can provide customers with personalized product recommendations based on evaluating their requirements and preferences.
As per Monetate’s latest Ecommerce Quarterly report Marketing Charts have showcased the impact on right product recommendations on customer experience. Surprisingly, simply click on a recommended product is sufficient to increase the purchase rate and follow-up sessions. Let’s have a look at the stats:
Moreover, a detailed understanding of the customers will allow you to connect with each of them by sending tailored emails. Such content can encourage prospects to take the desired action.
- Optimizing The Digital Security Of Your eCommerce Portal For Making It Immune To Cyber Crimes
Your eCommerce portal has to handle several online transactions on a regular basis and hence it store sensitive financial credentials of your customers as well as your business. This is why you must pay attention to making it secure from online attacks or fraud activities.
AI has this power to make your web portal immune with the help of complex algorithms. In order to build a responsive website and secure eCommerce store, you can hire experienced web application development companies with a team of professional web developers who have a wealth of experience in building a tailored web platform in accordance with your specific business needs.
Efficient web programmers can perform product roadmapping through which you can easily monitor the direction of your online portal at regular intervals of time. Also, they can create interactive prototypes to help you in tweaking as well as adding elements for reaching the product/market fit without burning a hole in your pocket.
Moreover, there are AI-powered platforms such as Choice AI to you in optimizing your eCommerce website and building personalized communication with customers. With this tool, you can easily create personalized landing pages and customized banners for your brand to grab the attention of more leads.
- Smart Chatbots To Facilitate Seamless Customer Service
One of the primary goals of your eCommerce web portal is to provide customers and prospects with seamless service and prompt support. AI-powered chatbots can fix this problem as they have the potential to be active 24*7.
These tech tools are built leveraging AI algorithms and can be the best companions for your customers even when you are asleep. According to Liveworld, AI-driven customer service bots have multiple advantages. Let’s explore a few of the major ones with the help of this illustration:
Giant brands such as Amazon, IKEA, and Walmart are already leveraging this technology and it’s believed that it will be easily accessible to even SMBs in the near future. Experienced programming team can help you with integrating the right bot into your eCommerce site which you can use to streamline and simplify customer support.
- Helps In Making The Most Out Of Your CRM Platform For Better Customer Engagement & Pipeline Management
A CRM tool has become an integral asset to every eCommerce business as it helps in gathering and monitoring a huge amount of customer-related data. Earlier, these platforms were handled by the humans and manual execution was quite time-consuming as well as tedious.
But nowadays, you can leverage AI-powered CRM solutions like an Insightly alternative sales CRM Benchpoint. This tech tool can be easily integrated with your eCommerce website and can collect customer-related data automatically. Also, it can help marketers in identifying and nurturing the quality leads which are most likely to convert which in turn will optimize your sales pipeline for more conversions and increased profits.
Moreover, this AI-powered platform can help you with smooth lead management and automated client outreach. You can evaluate the data in real-time and acquire useful insights into formulating strategies to retain and engage with more prospects for diversifying your eCommerce customer base.
- Let You Become More Local With Location-Based Intelligence
Leveraging location-based data is another capability AI-driven platforms can provide your eCommerce business with. This can help you in coming up with unique location-based ads and offers.
As per Geospatialworld, location-based marketing is gradually gaining momentum due to the increasing use of mobile devices. Also, marketers are leveraging this approach in order to connect with a different set of targeted audience with a personalized message tailored in accordance with their locations.
Enhanced personalization will give you better insights into your customers and let you reward the loyal ones in order to develop a harmonious bond for the long term. Also, this can be the best tool to convert foot and online traffic into your customers.
AI has become a blessing for eCommerce entrepreneurs as it can optimize the web presence and address issues associated with customer service or marketing. Also, this technology has enhanced the UX of eCommerce online stores which in turn has doubled their sales conversions.