Artificial Intelligence or AI is a trending topic for quite a long time and experts state that it is to stay for long. AI provides smart business solutions to small, medium, as well as large-scale businesses. Moreover, AI also plays a major role in ecommerce. AI is continually reshaping the world of online shopping. It has changed the way online stores operate and offer services to their consumers. From personalizing the shopping experience to offering virtual buying assistants, AI is honing the online shopping and selling experience for the consumers and the retailers.
Ecommerce is booming in every corner of the world. To thrive in this highly competitive market, the type of marketing used has significant importance. In order to reach the right crowd, ecommerce businesses must adopt smart digital marketing measures. And, Artificial Intelligence can help you develop your business and deliver your consumers’ superior experiences using simplified operations. In this blog, we will be discussing how AI is used in ecommerce. If you are keen to learn everything about AI in ecommerce, this piece is specially penned for you!
The use of AI in Ecommerce
AI is completely revolutionizing the ecommerce industry by estimating the shopping patterns based on the products purchased and the time of the purchase by the consumers. Knowingly or unknowingly, AI is being ingrained into every aspect of our lives. From the increase in the number of self-checkout sign ups to advanced security checks, we are surrounded by Artificial Intelligence.
Many ecommerce businesses, including the big players, are already using AI to better understand their consumers, generate new sales, and deliver improvised consumer experience. But, the question is, how is it done? How is AI used in Ecommerce? Do not worry, today, we are serving your curious brains. Below are the ways by which Artificial Intelligence is used in Ecommerce:
Machine Learning
It is the principal trend in Artificial Intelligence that lets ecommerce businesses understand consumer shopping patterns and trends in the niche market. It allows the retailers to know their consumers better with answers to what their consumers need, what will enhance consumer bounce rates, and what is liked by consumers of various demographics, and the list goes on. Such analysis acquired from a wide set of consumer data significantly improves the consumer experience and reduces the cart abandonment rates considerably. Machine Learning plays a major role in improving the search results when consumers search for products on the website based on the previous search records, preferences, and order history.
Chatbots and Virtual Assistants
Ecommerce businesses are increasingly inclining towards providing their consumers with chatbots or virtual assistants in order to deliver a seamless, round-the-clock consumer service. Chatbots and other digital assistants are built using AI that enables creating a better and intuitive consumer experience. Moreover, chatbots enhance the impacts of AI in ecommerce via NLP or Natural Language Processing, addressing consumer requirements, providing personalized and targeted offers, and encouraging self-learning capabilities.
Personalization
It is the ability to use bulk consumer data for customizing content as well as the web interface. Some survey has stated that over 74% of marketers agreed that targeted personalization boosted their overall rates of consumer engagement. The continuously increasing advantages of AI have opened doors for ecommerce businesses to boost their consumer engagement rates, enhance their conversion rates, and reduce the time for completing the purchase. Therefore, now, businesses can send the right messages to the right crowd, at the right time with the help of personalization that monitors various devices and channels used by the consumers to deliver better consumer satisfaction. Moreover, AI-driven personalized product recommendations are aiding ecommerce businesses keep their consumers engaged.
Customer Relationship Management
Predictive nature is probably one of AI’s most impressive features. CRM or Customer Relationship Management, which used to involve collecting extensive amounts of data and drawing conclusions while predicting the future was a thing of the past. This process is now way more streamlined and indeed, efficient. With the help of AI, you can now consume all the incoming consumer data, analyze them, and get to know which consumers shall actually buy from you, what products shall they buy, and what measures can you do to keep them engaged for a longer run. AI is used in laying the marketing focus on quality while directing relevant marketing ads to the right crowd, at the right time.
Automated Marketing
All the procedures involved in the marketing campaigns of your ecommerce business can be automated with the help of Artificial Intelligence. Business activities such as lead generation, digital marketing services, etc. can be automated. Moreover, the marketing content and offers can be tailored and personalized for the targeted audience with the use of Artificial Intelligence. Automation is the future of ecommerce, and AI is your key to it.
Consumer Retargeting
The majority of the businesses are loaded with customer data, but, unfortunately, not all data are being utilized in the business. Consumer data is highly beneficial for ecommerce businesses. AI is now used in ecommerce businesses to showcase relevant and personalized offers to consumers based on their search and order history. This helps in retargeting consumers through targeted marketing on various channels.
Summary
All the above-mentioned ways are how AI is used in ecommerce. Artificial Intelligence has changed the face of ecommerce businesses, be it small-scale, or large-scale. Ai has secured its place in our everyday lives. Moreover, it is estimated that AI will be the core of some prominent innovations by business tycoons, Google, and Microsoft. Artificial Intelligence is likely to have beneficial and significant impacts on the ecommerce industry shortly. It will debatably change and improvise the way consumers find products online. In the digital age of Instagram and Snapchat, AI has already been a major game-changer in our day-to-day lives. With the ecommerce industry never settling for anything less, AI-driven platforms will be a must. In fact, major ecommerce platforms such as Builderfly, are already offering AI-powered mobile apps for ecommerce businesses. It is time to get into the shoes of such businesses. Have you started planning for AI integration yet?
