How Artificial Intelligence is Transforming E-Commerce
In 2018, 10% of all retail sales in the US were made online. E-Commerce has continued to grow alongside the Internet with the help of giants like Amazon. Though E-Commerce grows, retailers big and small can’t expect to sell products online just by listing them. A product must be marketed, displayed well with relevant information listed, and companies must make the acquisition process seamless. One-click-to-Prime-shipping anyone?
Artificial Intelligence (AI) can enhance the E-Commerce experience from end to end, not only piquing product interest, but maintaining long term customer relationships. Fed with relevant customer data, such as purchase history and preferences, each customer interaction can be made personal via an Intelligent Assistant (IA). IA can communicate with customers through the back end, visually, and through conversation.
An intelligent assistant can present in realtime the most potent images, copy, and product information for a personalized shopping experience. Companies can conduct A/B testing automatically by feeding the IA webpage click rates and statistics, varied copy and images. Soon, this will also include customer’s spatial and eye tracking information. An intelligent assistant driven E-Commerce site not only personalizes itself to customers, it discovers improved means to market.
Artificial Intelligence and Data
Before an online shopper even finds a product, an Intelligent Assistant can narrow, contextualize and improve search results, increasing the opportunities for shoppers to become customers. A company forms a customer relationship as soon as a potential customer interacts with an AI-enabled E-Commerce brand. The IA parses user, market, and shopping history data to turn shoppers into customers. Artificial Intelligence gives brands the tools to personalize relationships which keep customers for the long term.
Artificial Intelligent Assistants can analyze customer reviews that may be directed to accentuate the positive and also quickly responding to problems. These Intelligent Assistants can reply and interact with a product review and include Customer data, purchase history, and tone of message to personalize and optimize the conversation. An AI-driven customer support solution makes personalized customer interactions scalable.
Customer support teams use swivlStudio to get the most out of AI using Human-in-the-Loop systems. The IA, or Intelligent Agent, can handle the up front interactions and common problems and FAQs on a large scale when trained and fed relevant data. For customer interactions and issues that are more complex or require an empathetic human touch, the IA can quickly bring in a human to continue the customer interaction. Tied in with existing CRM solutions, an IA can parse through customer data for more personal contextualized interactions with customers.
Over time, an IA with enough historical customer information can personalize messaging and offers to loyal customers. Where E-Commerce sites once relied on email lists and social media blasts, an omni-channel AI-driven solution can tune to each customer. A well trained intelligent agent can understand how to keep existing customers educated and engaged – creating a seamless omni-channel experience. With a Human-in-the-Loop solution, a single customer success team member has the power to reach 10x the amount of customers, 24/7.
The major goals for any E-Commerce brand investing in AI solutions are to reduce their business’s pain points. Some common E-Commerce pain points include:
- A large number of abandoned carts.
- The slowing of repeat customer purchases.
- A lack of insight into customer user journeys.
An intelligent assistant driven E-Commerce site not only personalizes itself to customers, it discovers improved means to market.
Human-in-the-Loop AI solutions accomplish the following:
- Improved website navigation and reduction in abandoned carts by 25%.
- Improved CS response time and efficiency.
- Utilization of customer data to personalize customer experience and build brand advocacy.
As with any industry, e-commerce is in the business of establishing long term relationships and brand advocates. Using conversational Human-in-the-Loop AI, E-Commerce sites can more easily scale their customer support. As well, sales and success teams can deliver 24/7 personalized customer interactions.
We invite you to meet Hoover, our Intelligent Assistant learn more about swivl, our Human-in-the-Loop AI customer success solution, and how AI can empower your team and your business.
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