Imagine you run an offline grocery store. You have a set of regular customers and are very well versed with their buying habits. Knowing your customer well allows you to offer a personalised experience to each one of them. You know Mrs. Sharma buys whole wheat bread once a week and every time she does, you remind her to buy table butter and cheese slices. You will not hesitate recommending a new brand of whole wheat bread to Mrs. Sharma, because you know she prefers it. These virtues, of you as a shopkeeper, creates customer delight, which has resulted in Mrs. Sharma becoming your loyal customer.
Now imagine you run an online store, and have an assistant that allows you to do exactly this – understand the customers well, recommend products suited to their needs, upsell & cross sell. Wouldn’t it be wonderful? If your answer is YES, then artificial intelligence is what you are wishing for.
Artificial intelligence is helping online companies to understand their consumer’s desires better and offer goods that fit their individual needs. In fact, futurologists are confident that properly implemented AI systems can help online marketplaces & ecommerce portals to increase their revenue by 30%. Here’s how:
1. Search – The Faster the Better
We live in a fast world and people expect everything to be fast. It’s no different with search. Customers are eager to get information faster and in the easiest possible way. Voice search is becoming popular and it should definitely be a part of your online shop.
2. Customer Interaction – Make it Even Better
With AI chatbots it’s possible to offer interactions that are very conversational. Already, there’s a growing number of customers who prefer interacting with a website via a chatbot. This chatbot serves as their shopping assistant and offers everything that a human shopping assistant would do at a store viz. Product recommendations, product demo, order tracking etc. So if your online store still has manual chatbots, it’s time to shift gears.
3. Customised Experience – Relevance Makes it Wonderful
AI helps you to adapt your online store to the customer’s needs and moods. With this you can give on-the-fly goods recommendations, alter prices at optimal times, and also showcase tailored video that promotes sales.
4. Predictive Analysis – Making Shopping Even More Wonderful
Machine learning opens up great opportunities to market to your customers in the future. It allows you to predict the products your customer is most likely to buy at a future point in time, determine whether the majority of your customers prefer buying through your mobile app or through your desktop website, identify price thresholds that trigger massive sales etc.
Do you run an e-commerce store?
You need to incorporate AI into your store and the earlier you do the better it will be. Implementing artificial intelligence in your online store is definitely a daunting task to begin with. But, leave that worry to us. Please reply to this email with the date & time and we will be happy to get you started.