Artificial intelligence (AI) and eCommerce has been the hype for a while now.
AI emphasizes the creation of smart machines that work and react like humans. Coupled with the shift towards eCommerce, there is a demand for AI to grow and expand. How can we retain customers with minimal input?
We will show you how!
1. Virtual Personal Assistants
Firstly, Virtual Personal Assistants (VPA) are software agents. They perform tasks or services for individuals based on verbal instructions. Being available 24/7 and widely favoured among business executives are key strengths. This is evidenced by VPA being the most impactful artificial intelligence tool (31%) among business executives.
With use of Natural Processing Language (NPL), they can better understand and interact with humans.
For instance, in Singapore’s finance sector, Evie is an AI scheduling assistant. Evie maximises resources with automation. Besides scheduling meetings and organising diaries, Evie can coordinate calls, follow up with attendees and send out invitations.
As customers’ needs are being tended to quickly, it saves times for both customers and businesses.
Chatbots are virtual assistants designed to mimic written or spoken speech. Through this, chatbots provide better customer experience. Frequently asked questions can be answered immediately. Customers can be attended to at anytime of the day. Also, interactions with the bot via voice, picture or text makes it more fun.
Currently, more chatbots are getting better and more sophisticated. They converse less robotically and provide more thoughtful, informative answers.
In China, WeChat is a popular AI bot incorporated in many businesses. China Southern Airlines utilises a WeChat bot to help its passengers buy tickets, check in and be updated of the flights’ status. This streamlines the operations process, as it helps to identify clearly what the customer is asking and the relevant staff can get back to the customers more efficiently.
3. Autocomplete Search Plugins
Thirdly, Autocomplete search plugins are designed to make searching process easier and faster. Often, customers may not remember what a particular product’s name is. Rather than describe the basics and be thrown into a sea of possible items you were looking for, autocomplete search plugins help narrow your search.
When customers start keying a search term, the application completes the search phrase for them. By including the display of related products that customers may require, customers are likely to stay on the site for longer. Increased session time can imply better sales generation. Examples include Nextopia.
4. Voice Command APIs
Next, according to research, within 1 minute, people can type 100 words. However, they can speak triple the amount in the same time. People clearly have a preference for speech. This explains why more than 60% of people used voice commands to search for products, simply because it is faster. Therefore, Voice Command APIs make online searches easier and are more of a need.
For eCommerce, Voice Command APIs potentially mean more instant searches, repeat purchases, and higher traffic.
Unquestionably, people want unique experience. In order to do so, personalisation is essential. To begin with, a simple welcome message that includes the customers’ name, can make customers feel like they are actually speaking to a fellow staff. With personalisation, it is more likely people will become repeat customers, as virtually every aspect such as greetings and recommendations are tailored to every customer.
To demonstrate, Personali is a technology that tracks and analyses customers’ behaviour in real time. Afterwards, it calculates the probability of purchase, and determines which incentive type and level is most likely to convert. In doing so, there is less guesswork and more precise targeting of online shoppers.
6. Smart Product Recommendations
Besides that, artificial intelligence also helps to make “smart” recommendations. This is due to the large amount of data they have collected from customers. Following that, the data is then used to recommend products to existing and potential customers the moment they enter a website, saving them time and hassle. Knowing what the customers prefer is important as it could potentially lead to improved sales.
7. Intelligent search
Similarly, intelligent search is another type of AI in eCommerce that helps to bring customised user experiences. Based on what the customer has been searching, AI can analyse the data and bring up similar products it thinks the customer will be keen to browse. This extends visitor retention and more of your products could be potentially explored by the customers.
8. Automated Product Descriptions
In addition, besides just recommending products, AI can also automate writing product descriptions for your eCommerce site! AI enables relevant and current product information to be sourced from the Internet and manufacturers’ websites. After that, AI churns out unique product descriptions for your site. Undoubtedly, this is a much faster and efficient process of writing the product descriptions.
9. Predictive Sales
At the present time, AI can dynamically price products to maximize revenue and sales volume. Predictive sales automation is targeted at effectively capturing the customers’ behaviour, particularly in product sales aspect.
For example, on Carousell, when listing for things to sell, there are suggested prices based on similar listings A.I has found on the site. This helps you to know what the “market price” is like, and then you are able to better price your products and gain an advantage over similar items.
Coupled with AI’s capability of being able to search intelligently, predictive sales automation can help you to have better inventory management. Potentially, it could lead to more sales transactions and higher revenues.
10. Smart Advertising
Now that there are so many sites to advertise on, such as AdGooRoo, Gumtrees, Google and Facebook, how can you better reach out to your targeted customers? Smart advertising is designed to advertise products by using precision ad targeting. In this way, you can effortlessly advertise without needing a large marketing budget.
To conclude, there is so much more than just chatbots that AI has been able to. AI can helps streamline operations, personalise services, aid in searching and even advertising! In due time, AI will be more capable, and help us meet even more in our e-Commerce needs.
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