As artificial intelligence technologies are developed, they are implemented in several sectors to help optimize multiple tasks. That's the case when the subject is AI in ecommerce. It can help you offer a more personalized customer experience, automate processes, diminish the risks of errors, and so on.
Artificial intelligence no longer belongs to science fiction movie scenarios, and is part of our world. Learning technologies may benefit the ecommerce industry, but it's fundamental to understand how AI works to know how you can use it. Check out the article to know more.
Benefits of AI in Ecommerce
Increase Sales
With the use of AI to gather and analyze data about customer behavior, you can predict trends in your market sector with accuracy and identify the most effective marketing strategies to convert leads into customers.
For example, you can implement AI to point out the leads who are more likely to buy, so your sales team can contact them, and also indicate what types of benefits they are looking for to complete a purchase.
More Personalized Content
Artificial intelligence enables you to provide highly personalized content in different steps of the buyer's journey. By collecting and analyzing customer data, AI determines the best content for each customer based on their behavior patterns. You can use it to recommend products, articles, and much more.
Optimize Productivity
With the right AI tools for ecommerce, your team can automate multiple tasks and dedicate their time to more complex ones. The AI saves time and allows you to reallocate resources and efforts into developing strategies to profit more.
Improve Customer Service
The use of AI tools like AI agents and AI chatbots reduces the response time on your conversation channels. People can send messages to your social media pages or chat on your website, and they will receive a satisfactory answer immediately. Customer support becomes available 24/7.
Enhanced Decision-Making Process
The decision-making process is improved with AI because you can make choices based on data analysis and accurate predictions provided by artificial intelligence. This diminishes the risk of error, since you aren't just guessing what the most suitable resolution is, but using a technology that is highly capable of gathering and processing a high amount of data at the same time, offering you valuable insights.
6 Ways AI in Ecommerce is Used
AI in ecommerce
AI in ecommerce can be implemented in multiple ways. It will help you take data-driven decisions, save time, and increase productivity. Companies like Meta and Google are already investing in AI initiatives because they see its potential, if you don't want to fall behind, it's important to keep yourself updated.
A Gartner's researchrevealed that 47% of AI-mature companies believe customer service is one of the three business functions most benefiting from AI.
1. Product Recommendations
You can use AI in ecommerce to gather and analyze data about your customers and make more accurate product recommendations. The items suggested to the clients will be based on their previous purchases and their browsing history on your website.
Machine learning analyzes the information available about the customer, and identifies the type of items this person is likely to find interesting. It's an automated process, data-based, which increases the chances of enjoying sales opportunities. As the AI learns customer behavior, the data scientists' intervention becomes less necessary.
2. Pricing Optimization
There are several factors that determine a product's price, which include the number of products available and if there is a high or low demand. When the demand is big and the stock is scarce, the price tends to go up, for example.
If you implement artificial intelligence in your online store, you may set it up to change the prices automatically, according to this dynamic. The pricing system will be regulated based on the supply and demand variation.
3. Customer Segmentation
Artificial intelligence is also very useful to segment customers based on the information you have about each one of them. You can use AI to categorize them by region, age, and the types of products customers buy, for instance.
By segmenting customers, you have the opportunity to develop different marketing strategies and sales approaches for every category. Instead of using the same campaigns and message to talk with all your customers when AI segment them, you can define targeted actions that consider the particularities of each group.
4. Sales and Demand Forecasting
Another option to implement AI in ecommerce is to forecast the number of sales that will happen in a period of time, along with the increase or decrease in demand for specific products. You will provide relevant information about your company's sales history, market variants, and other data that may influence sales, then the AI will cross the information and make predictions.
Since the forecasting is data-based and the AI learning and analysis process is very accurate, it's likely that you will get predictions as close as possible to reality, This way, you build strategies considering the changes the market may suffer. You can take decisions according to what the AI reveals, instead of just guessing.
5. Virtual Assistants
Virtual assistants such as chatbots, Alexa, Siri, and Google have the potential to deliver more personalized experiences when people are browsing on the internet, the same happens in the buying process. You can install a chatbot in your online store to assist customers.
Usually, the chatbot window is placed on the side of the ecommerce pages, the user only needs to click on it and type their question. Then, an automatic answer will be sent based on the messages you have set up for each question. The chatbot can even have a proactive use, where a message will pop up from the window, for example, suggesting a specific product based on the user's previous purchases.
6. Personalized Customer Experience
One of the main uses for AI in ecommerce is personalizing the customer experience. From customer segmentation, to product recommendation, you can use artificial intelligence to analyze customer behavior and suggest actions based on their preferences.
According to a Twillo report, more than 70% brands agree that AI will fundamentally change personalization and marketing strategies. 89% of the company leaders believe personalization is essential to their business in the next three years.
When you provide a personalized experience, you increase the chances of closing a sale and retaining a customer because the service offered is tailored according to the person's needs. In such a competitive market such as the online one, sometimes all that can distinguish one store from another is how the customer is treated, and people value when they have a good experience.
JivoChat AI Tools
AI Agent
AI in ecommerce - JivoChat AI Agent
JivoChat AI agent enables you to solve up to 80% of conversations automatically. It's available 24/7, responds within 1-4 seconds, can process over 1000 requests simultaneously, and is fluent in more than 50 languages.
Besides, the AI agent analyze your company's database and the customer's previous interactions to provide the best solution and a personalized experience. It learns from every interaction, which means it's always improving to offer better results.
You can integrate it with multiple communication channels, including your website, messaging apps, social media, and email and personalize it to align with your brand's image.
AI Assistant
AI in ecommerce - JivoChat AI assistant
According to JivoChat research, 74% of customers gave the highest satisfaction score to messages generated by an AI Assistant. The research also showed that up to 60% of responses generated by an AI Assistant do not require corrections and can be sent to customers immediately.
Integrated with Open AI technology, you can use the JivoChat AI assistant to write and review texts. It fixes selling and grammar mistakes, and adjust the message to your brand's tone of voice. Enjoy it summarize conversations and highlight key points as well, to optimize your time and ensure you don't lose any important information.
