How Ecommerce Fueled By the Pillars of AI Technology
At present, we see artificial intelligence is implemented across the corridors of business operations and also the way we shop and trade online. To hit a home run in the retail game, genius AI applications and digital experience management platforms like PIMcore are now offering smart solutions: predictive analysis, recommendation engines, inventory management, and warehouse automation to create a more profitable shopping experience for consumers.
Now more than ever, e-commerce is an AI innovation game
Artificial Intelligence often sometimes seems complicated to newbies but in reality, it is simple in use and gives you the ability to predict customer needs. This paves the way for e-commerce companies to become a “big brand” or “big business” with revolutionary AI tools.
Now that AI algorithms making way for consumer acceptance of AI like never before, how can you use it to create more profitable outcomes in e-commerce?
Interesting E-commerce Stats:
With an estimated global population of 7.7 billion, 25 percent of people shopping through e-commerce stores. According to Statista, 52% of e-commerce stores will have omnichannel capabilities by 2020 which means they can communicate and sell with their consumers via multiple channels. For example, they can use their e-commerce website, Facebook e-shop, email account, and Instagram account.
Examples of AI tools and PIM software for e-commerce businesses that can help them have a high bar on customer service and marketing:
AI Personalization Tools
These tools hold the ability to provide a deep understanding of consumer behavior at a personal level. Enabling you to connect with the right consumers at the right time and help improves your e-commerce marketing strategy.
How it’s done?
Artificial Intelligence uses ML algorithms that are based on logical reasoning. Data is analyzed for buyer’s behavior patterns and learning from these patterns; AI can provide you output or respond to a specific task.
After data being analyzed, e-commerce marketers can use this data to group customers according to their interests, shopping behavior, and activities.
With the help of grouping customers, e-commerce marketers can deliver messages & notifications to their customers, send product recommendations that are relevant to customers’ tastes. This will result in creating an exceptionally excellent customer experience.
Catch the AI Wave With AI Tools
We are overwhelmed with applications of Artificial Intelligence. And there are many other technologies of Artificial Intelligence that aid businesses to do their job efficiently and in a smarter way.
Here are the functional areas where AI tools can help you:
AI Tools for All Facets of Ecommerce Marketing
Today many e-commerce websites use AI and machine learning for predictive analytics, marketing, ads personalizations, and so on. Let’s look at the tools specific to help e-commerce stores in marketing.
Chorus is an important AI tool for any marketing firm that helps e-commerce marketers know the customer’s pain points. The tool does half of their job by gathering customers' data that replete with customer insights and preferences.
This AI tool makes sure that marketers can also save their time on evaluating the sales team performance by providing insights on why a deal is not closing and why it is not performing. Using an AI tool like the Chorus sales team can focus more on their sales target instead of analyzing data and reports of each customer individually.
The tool works as a virtual AI assistant for marketers helping automates personal communication and conversation over the chat. It directly converses with sales prospects to understand their product requirements and take the conversation further.
This is a cloud-based tool that helps sales and marketing teams communicate with customers at any time from anywhere. The tool comes with intelligence technologies such as meeting scheduler, personalized lead nurturing, intelligent response processing, natural language processing, mass email delivery, and user-profiling.
For e-commerce businesses that maintain DTC direct relationships with their customers, the AI tool Velocidi helps improve the efficiency of your marketing campaigns by predicting customer’s behavior.
Some Case Studies
Barkyn’s Multi-Channel Visitors Segmentation Strategy
Barkyn online store offers the monthly subscription box of dog food and related products.
By using Velocidi, Barkyn got access to a unified view of their customer's behavior such as login patterns, shopping activities, email clicks, page views, clicks, and others. This helped them automatically segment customers with high intent of buying products.
Amazon’s Product Sampling is Based on AI
Amazon is using AI and machine learning to gather plenty of data based on its customer’s buying habits. They are gathering this data for testing a new strategy of paid advertisements. They are planning to go beyond the traditional video advertising methods, Amazon will now begin delivering product samples direct to the clients based on their buying habits.
“Their product sampling page states that “Amazon surprises selected customers with samples that they think will be delightful and helpful” and “you don’t have to be a Prime member to receive samples. Anyone with an active Amazon.com account is eligible to receive free samples.”
Design a Web App like Stor Loft With Intuitive AI Features
Stor Loft a self-storage facility has the powerful presentation of the map based on the artificial intelligence technology that clearly depicts the exact location and distance of the storage solution from the user.
“The designers ensured that the Stor Loft and the development team follow the same methodologies while designing the web application by successive collaboration using project reporting and monitoring tools. Agile methodologies have been used throughout the project to discuss, improve and implement solutions before the final delivery.”
In short, AI in e-commerce is changing today’s business environment. It is also an excellent way to generate sales leads. But most importantly, the technology offers enormous innovative opportunities to e-commerce marketers. But, the most important question is from where do you start.