Six powerful ways Artificial Intelligence will benefit eCommerce businesses

Published January 4, 2018   |   

AI is everywhere now! A study shows by the year 2020, 85% of the enterprises will be overtaken by Artificial Intelligence. With its effective methods AI is finding a drill in every industry at its best. Now the question rises as to what effect will AI have in the eCommerce sector? Well, many of us think of AI as plastic and impersonal. However, nothing could be further from the truth. AI is actually making it possible to personalize the eCommerce shopping experience in an extremely detailed manner. For some of us, this thought is hard to fathom.
Recently, Titan launched a ChatBot on its website and this has predominantly created change in the buying and a lot of customers found it absolutely pleasant and that this AI method has really benefitted their purchases. AI eliminates the need to guess and use trial and error tactics. Instead, it allows business owners to have access to information that lets them know exactly what their customers are interested in and when to introduce it.

1. The Intensely Personal Customer Experience

One of the biggest benefits of AI is its ability drive data regarding customer behavior and usage patterns as acquired from other e-commerce platforms through algorithms that create personalized shopping experiences for online buyers, besides giving in-depth visibility on trends. In other words, this customer will not be inundated with any offers or information that he or she hasn’t expressed an interest in on some level.

  • AI Analysis is more Efficient than Human Analysis
  • The Analysis of Millions of Transactions can be fine-tuned to Target a single customer
  • Predictive Intelligence and Contextual Sales make it possible to present the most relevant information to customers

2. Actionable Sales Intelligence

AI gives businesses access to information about a client at three different stages of the sale. Businesses now have the ability to gain information about a customer before the sale, during the sale, and after the sale. As a result of this vital information, a business has the opportunity to truly customize the experience for the customer. Imagine being able to create a highly unique individualized experience for each customer, eliminating irrelevant information and presenting the customer with information that client data has already shown them to be interested in. This is nothing short of ingenious.
An AI startup tied up with hyper-local shopping sites such as Big Basket to enhance their warehouse operations and guess what! They have made it and has the AI is able to read the RFID for every customer there by enabling to higher productivity in sales with satisfied customers.
This has created a good opportunity for the AI to create intelligent customer engagement.

3. Target Specific Customers with Specific Messages at Key Times

AI makes it possible to fine-tune the entire user experience in many different ways. Businesses can zero in on specific customers with an evidenced data-driven message, proven to get results, at a time proven to be most effective to get positive results. This approach is a sure fire way to maximize the user experience in an intensely personal way. As a step to create a novel innovation AI will definitely create new varieties and categories of products that are associated with the customer’s thoughts and experience. Taking an advantage of the AI will be at its utmost when this happens and the eCommerce sector gets high statistical records of purchase.

4. AI Provides Timely Intelligence for Solutions to Business Challenges

AI makes it possible for a business to identify which customers are the most likely to buy their products through demographic data as well as purchase history. Once a business is armed with this type of information, they are able to communicate with the prospective customer on a more effective level and easily identify what the customer actually wants and needs. This business intelligence (BI) is helpful in increasing sales. This trend will only continue to grow because it has been proven to be an effective approach. More business will begin to employ this approach because of its effectiveness.
For example, Pinterest’s visual search feature will help users to see the milestone that AI has created as it explains AI’s utility in retail, supportive customer experience in a highly innovative way to search for products. How cool is that, now!!

5. Merge AI with your CRM

If businesses want to take their eCommerce goals a step further, consider merging AI with the CRM. This allows you to personalize your solutions and create compelling sales messages that reach people at the right time and in the right context and platform. Creating an effective CRM will allow you to respond to and answer customer questions and multitask. It will also allow you to resolve problems and even identify new opportunities for sales. If your AI system facilitates natural language learning, your customers can interact with your CRM by asking questions, addressing problems, and recognize more sales opportunities.
Mintigo introduced a Predictive Sales Coach that uses AI to directly provide actionable sales intelligence to Customer Relationship Management (CRM) systems. Again studies have found that, by 2019 AI will be put into CRM to analyze, interpret and collate data’s to enhance the customer experience on the eCommerce website.

6. Quicker Access to Information

AI allows a business full access to invaluable information which helps company employees become more proactive in dealing with customers. As a result, the sales process has evolved over time. AI has replaced the need for the trial and error, guessing approach that was often a part of the sales process. AI provides data that has already been analyzed making the information expedient up to date and accurate. As a result, employees are armed with relevant information that’s both relevant and appropriate for the customer. Thus it is visible that AI is creating a big change by providing quicker access to information, and a known fact is that the eCommerce industry would be at its best effective way when it provides companies with the prompt information system.
AI will allow all the right information most relevant information to be accessed so that customers are never present with information that is irrelevant and inappropriate. Instead, eCommerce businesses will have access to help them engage with customers in a way that’s relevant, appropriate and timely. Now businesses can garner information about a customer before a sale takes place, during the sale and after.
With the progressive development of the AI in this industry it will be highly notable that e-commerce will become more significant, automated and user-friendly. It will serve as a big gig platform for the commercial entities that will enhance buying overcoming barriers of purchase. AI will vitally showcase about the retail experiences, personalized structures of purchase, new products and other services with a highly interactive experience overall.