Home Business How Can AI Transform the Online Shopping Industry

How Can AI Transform the Online Shopping Industry

Source: so1

AI (Artificial Intelligence) is a somewhat new technology that finds its use in many areas of our lives. From our smartphones to apps on those set smartphones, self-CCTV cameras, face recognition software, and many more.

With many people seeing the benefits that come with AI, it begs the question of where else this innovative technology can be used. Some advocate for self-driving cars, self-operating robots, and even eCommerce. While people definitely should be wary of fully autonomous artificial intelligence software, it’s’ a pretty far stretch to comparing it with SKYNET from the mega-popular Terminator movies.

With all that said, and judging by the topic, we are going to talk about how AI can transform the online shopping industry. And seeing as many business owners are slowly starting to integrate AI into their eCommerce businesses, we’re pretty sure that this will become a reality.

So, without further ado, let’s start.

Source: Atlas Consortium

1. Improve Search Results

Machine learning can be used to improve the user’s experience while shopping online. Ecommerce businesses use much of their resources into research on how to improve a customer’s buying experience, and it seems that AI holds the key.

Customers are mainly disappointed with eCommerce due to the irrelevant search results that are put on display for them. This can all be changed through the use of AI. But how?

Well, it seems that many businesses and even startups are using machine learning in a positive way to create a pattern for the software to display products that are personalized for you.

This is done by taking a look at previous search results, popular website visits, media channels, and even the things you associate most with. Through this, the AI software learns what you like most, and gives you relevant search results based on it.

2. Possibility to Retarget Customers

Ecommerce businesses are oftentimes overwhelmed by the sheer amount of data that their customers are giving them with every website, email, and social media click.

These businesses are overwhelmed because they don’t have the necessary knowledge on how to harness it and use it in the sales cycle. As much as 33% of all leads are not followed up by the sales teams.

This is a potential goldmine of information, and it can be reused through AI.

With very heavy-specific AI integrated sales software, you can retarget previous customers and bring them back for another try of shopping. As people love browsing what businesses have on display, it can be used in a similar way with eCommerce.

A smart AI system could be implemented and effectively store information on what a customer wants, and give you all the necessary tools to retarget that same customer through personalized ads.

Source: so1

3. Help Lead Generation

By now you’re probably starting to see a pattern, a pattern that indicates AI can be predominantly used to make sales in the eCommerce industry.

Truthfully speaking, AI can have its use in retail, packaging, and many other aspects of eCommerce. However, artificial intelligence is smart enough to completely do the work for you in all aspects. One aspect that is extremely important for any eCommerce business is that of lead generation.

As information is of utmost importance for any business, it can be obtained, categorized, and stored all through AI. This will not only give a business competitive edge when creating specific advertisements for specific target groups, but it will effectively help in lead generation.

As computers are capable of calculating, storing and reading masses of information, AI can effectively put that to good use.

Many businesses know which of their products sells the most. So when the time comes for a total clear out, they discount their products to welcome in new merchandise.

The best way for an eCommerce store to clear out everything is to use various tools at their disposal. If you click here, you can browse a wide selection of eCommerce store coupons that these businesses specifically created so both they and the customer are satisfied with every purchase.

4. Improve the Sales Process

The best way to reach thousands of new customers is to integrate AI into your CRM. What was previously a tedious job of having to cold-call hundreds of people is now completely substituted with social media and marketing tools.

A lot of customers feel like the buying process of an eCommerce platform is problematic or unclear. This is why unsatisfied customers turn their attention towards Google for an answer to their problems.

By integrating AI into your CRM, you can give your customers an answer to very specific problems and queries. Customer relation management is a very delicate aspect of eCommerce and can bridge the gap between unsatisfied customers and the sales team.

Through artificial intelligence, an eCommerce business can understand their customers to a degree where they can completely eliminate problems relating to sales. This does not only improves your reputation, and relations with your customers, but it effectively improves the sales process.

Source: mediap

5. Personalization to the Max

We touched briefly on the call for personalization, but this should be a talking point on its own.

Personalization is the difference maker between a successful business and a failing one.

To put it bluntly, no one wants to see stuff that isn’t tailored for them. We have grown accustomed to seeing targeted ads based on our interactions with the internet.

These ads are made specifically for us and people similar to our likings on social media, Google, and more. We talked that this can be achieved using AI engines that analyze your every movement and click online.

And while this seems like an invasion of privacy, many people do, it’s not as these companies are only interested in your online movement so they can send you targeted ads, not necessarily track you.

A clear example of personalization can be seen the next time you come across an eCommerce platform. Simply put something in the search box such as Bluetooth speaker, and notice how every other time you visit the platform you will be met with similar products. Also, if you consent to it, the platform in question will start sending you emails regarding similar items on sale.