How to Use Artificial Intelligence to Grow Your Online Business?
The world where machines could think was only featured in fantastic movies, yet in our day and age, it is a reality. Artificial Intelligence (AI)-enabled technology with the power to imitate human behavior and thinking, unlocking the true potential of every industry involved.
One of the earliest adopters of AI tools is E-commerce, as it is always first when it comes down to
innovations. E-commerce creates the testing ground for AI solutions, while AI elevates its performance on the market.
How can AI solutions for business elevate its performance, and what are the best ways to implement them into the company’s structure? Let’s explore together.
AI Tools in E-commerce
1. Personalized recommendations
Every online store aims to attract as many new customers as possible, as it is their ticket to financial and commercial growth. The ‘friendship’ starts with an individual approach to the customers, which would simply be impossible without AI tools.
Instead of sending recommendations created for a specific target audience, the AI recommendations take it a step further and take into account the individual avatar of every customer, based on the history of searches, views, browsing history, and orders. Such ‘thoughtfulness’ will reduce the number of spam emails, and unrelated goods, which cause dissatisfaction among customers.
When the customer sees that the selection is ‘right what I need’, it will increase the chances of the finalized purchase and minimize the risks of abandoned carts. Moreover, it adds more value to the general image of an E-commerce store, creating a loyal clientele.
2. Intelligent customer support
Although the majority of E-commerce websites are developed considering the comfort of their users, there are still many issues to resolve on the way to the cart. When the customers experience difficulties filling up the order, they need instant help, otherwise, the purchase will be delayed or canceled. While it is rather impossible to organize with ordinary support, everything changes with the introduction of chatbots.
Chatbots are designed and taught to help people resolve simple issues following specific algorithms, meanwhile human-based support can handle more difficult, non-algorithmic inquiries.
3. Search of visuals
Visual search is an advanced level of shopping, which lets the customers find what they want based on the image, not its verbal description. It allows users to find what they want when they lack knowledge about the names of the products.
4. Flexible pricing
The final cost of the goods will always be based on the manufacturing and delivery costs, competitors’ prices, and client demand. The AI algorithms will provide businesses with changes in the pricing policies and current trends, and let them settle the right price to maintain the competitive edge yet not lose the clients.
5. Voice Commerce
Voice Commerce is a new level of comfort to online shopping, as it introduces hands-free shopping. Voice commerce allows customers to perform shopping while being involved in other activities; such multifunctioning brings more efficiency into the daily routine.
Though being an efficient tool to implement, voice commerce hasn’t reached its height, as it may require quite a few modifications with the software. While businesses are just starting to consider the integration of voice commerce, the users of the Magento Platform are already there, providing top-notch performance and cutting-edge tools for seamless and efficient performance of the E-store. If you wonder why use Magento for commerce, the answer is quite clear – the advanced nature of the platform will maximize your digital performance as well.
6. Trend forecasting
Trend forecasting lets businesses be on top of the market needs and protect the store from over- and understocking. AI provides timely insights about consumer data, online reviews, social media trends, search history, etc. This information allows us to make a precise analysis of the market needs, and thus, fill up the stock with the products that are currently in need.
7. Feedback processing
The Internet is a valuable source of customer feedback, as it helps see what image the store holds among the customers and understand its pitfalls.
8. Product description
Product descriptions should always follow SEO techniques. It is a manageable task for experienced copywriters, yet, when there are hundreds of products to describe, it requires more copywriters to create unique descriptions.
AI tools, like chat GPT, will take care of it, as it can generate unique and seo-optimized text within seconds; letting the copywriters do the proofreading only.
The Bottom Line
E-commerce is one of the most innovative spheres of business, as it never fails to surprise users with new tools, software, and gadgets. Having integrated AI tools into its structure, the commercial sphere made a huge leap in growth, providing businesses and customers with unique experiences and efficient functioning.
