Artificial Intelligence or AI has started to embed itself in the various aspects of our lives from smart wearable devices, smart cars, to smart business software. Currently, AI is trending and integrable in almost all business processes belonging to any industry.
In America, AI is everywhere right from a CCTV camera on a lamp post to cybersecurity measures and security checks at the Airport, AI has strongly grown over the years. And so as the top AI development company in USA.
Tech giants like Google, Microsoft, Facebook, IBM, etc. are heavily investing in new AI initiatives and AI-based technologies. Thus, we can expect that in the next couple of years, the AI market will grow at a 46.2% rate by 2025.
As a result, many industries will be profited with huge business income. The one industry that will have a great impact on AI technology is the eCommerce industry.
Table of Content
The eCommerce business has already revolutionized the traditional shopping method in a lot of ways, just by making it physically live 24x7 on the internet.
“Machine Learning (ML), Natural Language Processing (NLP), Chatbots, Virtual Assistants, Decision Making Software, CRM/ERP, and many other AI tools have become eCommerce growth factors for Flipkart, Amazon, eBay, Myntra, etc.”
If you search AI and eCommerce business online, then you can clearly find that AI is helping eCommerce websites in gaining more customers. I mean eCommerce is getting a boost in user engagement with the help of AI.
Furthermore, many eCommerce businesses use AI faculties to generate new leads, understand customers in a better way, and providing an excellent customer experiences.
But, the question is, How? To find out the answer to this question;
In this article, we had shared ways about how AI is increasing your eCommerce website customers. Let’s get started!
Targeting Potential Customers
Targeting customers, generating leads, and converting those leads is the work of the sales and marketing team of your eCommerce business. But, what if we give this work to technology? What if they generate potential customers based upon their purchasing behavior?
Is it possible? Can we use some kind of predictive tool to keep a record on customers and their product preferences?
The answer is yes! In the eCommerce website development business, we can take the help of AI, machine learning, and deep learning to analyze the data of online prospects to leverage our business.
Starbucks is doing something similar to it, where the company is utilizing AI to gather data on its consumers in order to deliver more personalized suggestions.
Artificial Intelligence recommends your visitors about the best products at your eCommerce website in their searched category. Moreover, AI focus on ‘hyper-personalization’ that brings the offline shopping experience to the online space.
Due to this, AI usage in the eCommerce industry has given businesses a competitive edge and is automatically tagging, organizing, and visually searching content as per user demand.
Retarget Potential Customers
From the reports, it was found that the sales team in the eCommerce business fails to follow 33% of marketing leads. Also, many businesses fail to manage customer data.
But, if the chance is given to AI, then the sales cycle can be enhanced. For example, some eCommerce businesses are now using the Facial Recognition technique for capturing the customers and to check the amount of time they dwell in their online shopping stores.
In case, if a user spends a notable time searching a particular product but didn’t purchase it, then this information is stored in the AI database and is used upon the user’s next visit.
AI develops in the top eCommerce development company in USA gives special offers to the customer on the same product based upon their in-store dwell time.
This way AI can directly respond to the potential customer can target him/her again repeatedly, and increase the sales cycle based upon the collected data.
AI Makes Sales Process Efficient
Today there is a different medium of advertisements, right from TV ads to social media ads. We know that ads influence customer’s lives heavily. In fact, social media platforms like Facebook, Instagram, Snapchat etc. have become sales and marketing tools themselves.
In your eCommerce business to create strong sales, you will have to reach customers at the right time in the right place. For this, you will have to manage customer relationships.
There are many integrable AI systems to the CRM that can become your initial way-to-go!
The AI-based eCommerce solutions enable natural language learning, text and voice input searches allowing a CRM system to answer customer queries and identify new business opportunities for the sales team.
Additionally, AI is able to sweep down the changes in the business deals with the customers to gain fast access to information and customer behavior on your online shopping portal.
Chatbots Give Immediate Support
Lots of technological advances have evolved the consumers’ expectations. As a result, eCommerce is focussed on building better consumer relationships with each individual in a mass market.
Around 40% of the eCommerce companies have stated using sophisticated AI technologies to capture the attention of potential users. This approach is called as ‘Conversational commerce.’
In eCommerce, the visual, written, vocal, and predictive capabilities of AI are used extensively to meet the consumer needs increasingly. Integrating chatbots to the online shopping portal is a necessary eCommerce business strategy to drive the conversation with the customers such that the sales can increase.
Hence, running chatbots actively to execute operations and marketing tasks, automating order processes, confirm orders to provide instant online support, provide a valuable customer support solution, etc. develops better customer relations and bring more customers.
The same goes for virtual assistants like Siri, Google Now, and Alexa!
Tackle Fake Reviews
90% of customers who read online reviews claim that positive online reviews sets and influence the mind of the buyers to purchase a good rating product.
On the other hand, 85% of customers don’t buy products with negative reviews.
This means that in an eCommerce website business, reviews play a critical role and develop a trust in the online shopping world. The ratings and reviews greatly help the users to judge the product before buying it!
To tackle fake reviews eCommerce retailers have started using AI deep learning techniques to verify every user activity; thus, filtering genuine and positive reviews.
Amazon uses AI to combat fake product reviews and inflation of its popular star ratings. Top-rated Magento development services have built-in AI machine-learning systems to verify customer purchases and reviews.
AI Can Optimize Price
When it comes down to selling products online, pricing is the most important factor in the eCommerce industry. Every customer wants to buy a quality product at less cost, while eCommerce retailers want to boost sales and get more profit.
Both things aren’t possible at both ends, hence price optimization is necessary.
Previously, price optimization was done manually, but now an eCommerce owner and its marketing team with the help of machine learning, predictive analysis, and deep learning technique can come up with more accurate price recommendations.
This kind of dynamic pricing structure can enhance profits by up to 25%.
Several AI-based companies have started promoting AI-based softwares and tools to boost business efficiency and betterment of the top e-commerce businesses.
Better Marketing Insights With AI
AI in the eCommerce industry analyzes your sales and leads, makes highly accurate business predictions and balance the demand and supply. Also, AI is able to increase the target audience.
Artificial intelligence analyzes massive amounts of data based on users’ behavior and product preferences. AI can also obtain valuable data from users’ past experiences and review the content.
Amazon is using AI for personalization because the AI-based engines analyze customers’ interaction with the website more smartly and help in increasing sales.
Smart advertisements boost conversions under a limited budget with the help of AI. Relying solely on Facebook and Google’s ad services isn’t the only option. You can use various AI-based smart advertising tools to develop a strong strategy for eCommerce business.
Looking at all these benefits of AI, one thing is sure that AI is a boon in the eCommerce industry that will help you to make profits and customers the best quality products.
However, there are still some people who believe that AI will take their jobs. But, we think it is not going to happen anytime soon. AI is capable to solve many problems, can gather a massive amount of data, and give smart decisions to improve eCommerce website business.
AI also makes sales and marketing efforts effective, capture a better audience, targets good leads, and analyze millions of interactions every day.
In short, AI is able to do crazy works more effectively and will grow more in the coming years! If you are interested in integrating artificial intelligence capabilities and functionalities to your eCommerce website, then you can contact us anytime.
We are the top eCommerce website development company in USA that provides AI-eCommerce services at affordable prices and guarantees on-time delivery.