Although the rise of e-commerce has hardly been a surprise, its consistent growth and global reach make this sector one of the most remarkable global trends. This industry has transformed the way customers buy goods and avail services in this fast-paced mobile world. Every e-commerce company strives to get best of offline shopping experience to their online space and provide consumers with seamless ways to discover products of their choice. Many e-commerce giants are now turning to artificial intelligence (AI) to take a huge leap towards facilitating a more personalized, efficient, and automated customer journey, using cognitive technologies and smart data.
With changing technology, e-commerce is now available across various devices and product niches. As e-commerce platforms grow, customer segmentation strategy has become an important factor to achieve better engagement. This is because businesses should understand a customer's preferences, gender, age, demographics, and various other parameters before communicating with them. Today, AI can be used to enhance customer segmentation by analyzing factors such as semantic analysis, metadata, predictive recommendations, and collaborative filtering to increase the conversion rate and grow the platform. Therefore, organizations should understand what exactly consumers are looking for on their platform using AI. This article emphasizes on the role of AI in transforming the customer segmentation strategy.
Gone are the days when machine learning and artificial intelligence were used as just personal assistants in your mobile phones. They are being used in a wide range of applications and the possibilities are endless. One of the key industry sectors transformed by AI is e-commerce.
Here is a list of top AI tools that have changed the way in which this industry operates -
We are all familiar with predictive search that is used by Google, in which the search engine automatically suggests the query and influences the outcome. e-commerce companies are now making use of this technology to make their platforms highly interactive. Predictive search can help first-time website visitors who don't have any idea about the layout or context of your website to easily navigate through the website without much struggle.
Chatbots are computer programs that stimulate conversations with consumers over Internet and are in use for a long time now with varying levels of complexity. They can be further programmed to handle client operations such as returns, solving product issues, processing warranties, etc. and assist clients in easily navigating across big and complex websites. Using Chatbots will also ensure that customers who visit websites at odd hours will also continue to get personalized services and prompt 24x7 support.
Voice-controlled assistants used in mobile phones, computers, cars, etc., which assist the user in simple tasks, are nothing new to us. However, this technology can be inculcated in e-commerce as well. Some companies have already started working on harnessing digital assistance to perform the duties of a salesperson. This will involve integration of CRM like Salesforce, team communication tools, and social media platforms. Virtual sales assistants can save valuable time and effort of sales teams by a large extent.
Email automation has already been around for quite some time now and is and one of the highly sorted customer segmentation strategies. However, a lot of refinements, such as content creation, contact labeling, lead scoring, segmentation, etc., have to be done to design and maintain personalized email campaigns. In the future, AI will be used to create hyper-personalized emails, campaigns, and subject lines. These emails are expected to increase account-based marketing efforts to a great extent.
In traditional marketing the task of extracting data and then analyzing it was a time-consuming and cumbersome task. Today, AI is used to do the same, but within a short span of time, as this technology can quickly analyze large volumes of data with greater efficiency. In this way AI helps businesses to derive actionable insights from the existing data sets and refine the e-commerce website for superior user experience.
By helping e-commerce businesses to analyze millions of day-to-day interactions, AI helps them in targeting down the offers to a single customer. This technology also empowers sales team with information like never before, which can be used to personalize sales cycle with the help of AI-driven applications. These applications help sellers to engage right prospects by sending right message at the right time. AI is expected to revolutionize and arguably change the way customers find products online. The confluence of e-commerce and AI has not only transformed millions of online transactions, but has also impacted in-store purchase behaviors.
e-commerce websites are increasingly adopting AI to provide their customers with highly personalized, simplified, and intuitive shopping experience. There will be several industry-level collaborations between e-commerce giants and AI, with the main aim of providing their customers with best possible customer experience.
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