In the realm of modern day ecommerce, we know that starting an online business takes more than just learning how to make a website and uploading your products. You will also need to create a well thought out business plan and research the necessary tools that will help grow your business.
One element to consider is how you'll attract, nurture and convert prospects. You may already have a marketing strategy in place, but you can maximize its impact by leveraging artificial intelligence (AI). For example, AI-powered chatbots can streamline customer support and drive conversions. Other AI tools can help you better understand your audience and create personalized shopping experiences.
Interested to find out more? Here are 8 ways to integrate AI into your ecommerce strategy for business growth.
Automate Marketing Processes
In a recent survey, 77% of marketers reported using AI to streamline repetitive tasks like social media scheduling, ad targeting, and lead scoring. Nearly 65% said this technology was either very important or critically important to their success.
AI enables marketing automation, which can free up your time and help you get the most out of your campaigns. For example, online tools like Drift, Gong, and Outreach can automate prospecting, email marketing, customer segmentation, and other activities. Such tools integrate with your customer relationship management system (CRM), giving you a 360-degree view of your marketing performance.
With this approach, you can provide a better omnichannel experience and focus on customer interactions. Plus, you'll cut operational costs and reduce or eliminate human error.
Improve the Customer Experience
Some AI-powered tools are capable of analyzing market demand, competition, stock levels, historical trends and other data. This information enables businesses to automatically adjust product prices for each potential customer.
An example is Amazon, which uses dynamic pricing to drive sales. That's why its prices change every few minutes. Uber, Google Ads, and most airlines have implemented this system, too.
AI can also improve the customer experience through personalization, targeted marketing, dynamic content, and predictive support. For instance, eCommerce websites may use this technology to display different content based on the user's location, shopping history, or preferences.
Harness the Power of Personalization
According to Salesforce, 65% of buyers expect companies to adapt to their changing needs and preferences. Simply put, they want a higher degree of personalization from the brands they interact with.
Artificial intelligence can help you personalize the customer experience through custom product recommendations and other means. For example, you can use AI to deliver personalized email campaigns based on customer data. GetResponse, HubSpot, OmniSend, and other tools allow users to personalize their email subject lines, newsletter content, and follow-up messages for each subscriber.
Leverage Predictive Analytics
Customer expectations are constantly shifting, and the success of your business depends on your ability to keep up with these changes.
AI-powered algorithms can analyze vast amounts of data within seconds. This allows them to anticipate customers' needs, enabling marketers to tailor their strategies accordingly. Let's say you operate an eCommerce store selling fitness apparel. Consider using AI to predict future demand for specific products like men's thermal tops, running shoes, or compression tights.
This strategy would allow you to optimize inventory levels, prevent stockouts, and sell products your customers need or want. The result? Increased sales, lower costs, and higher customer satisfaction.
Streamline Customer Service
Popular brands like Whole Foods Market, Sephora, KFC, and Macy’s use AI to streamline customer service operations and drive sales. Some leverage AI-powered chatbots, while others have turned to cognitive AI to help buyers navigate their offers. For example, H&M has implemented a chatbot to assist customers throughout their shopping journey.
The chatbot can answer their questions, offer additional information about products or services, and help them choose the right size or color based on their preferences. This technology doesn't eliminate the need for human intervention but can reduce overhead costs. Plus, it allows you to handle customer inquiries around the clock and provide instant assistance.
Build a Custom Online Store
AI can also make it easier to start an ecommerce business, even if you're on a tight budget. Wix and other website builders use this technology to help small business owners create custom sites without writing code.
Until recently, most companies turned to web developers for support. However, these services come with a high price tag, and it can take months to get the results you want. Thanks to AI, anyone can set up a fully functional website with just a few clicks. For example, Wix’s Artificial Design Intelligence (ADI) allows you to customize just about every element on your site, including its layout, fonts, colors, and visuals.
Optimize Your Site for Search Engines
Once your online store is up and running, you'll want to make sure it appears in search results. To do that, you'll have to optimize its code, pages, permalinks, copy and other key elements.
Utilizing search engine optimization (SEO) tools, such as Semrush, RankIQ and Frase can make things a lot easier. For instance, Frase can analyze your competitors’ websites and show you what keywords to use in your posts to outrank them. Similarly, Semrush uses AI to help you discover high-performing keywords, optimize your content and track your position in online searches. If, say, you want to optimize your product pages, you can use Semrush’s AI Writing Assistant to analyze and improve your copy. This AI-powered tool can identify hard-to-read sentences, track keyword usage, and rewrite, rephrase, or summarize your content.
Make Data-Driven Decisions
AI algorithms can collect and process massive amounts of data from all over the web. Most importantly, they turn that data into actionable insights. Let's assume you plan to offer a new product on your website. With AI, you can determine whether or not the product will sell, how you should price it, and who you should market it to.
This data can facilitate decision-making and help you avoid costly mistakes. Plus, you may use AI to define and segment your audience, create targeted advertising campaigns, and position your product in a way that matches customers' expectations.
Harness the Power of AI to Grow Your Business
AI can help you build an ecommerce business that stands out while keeping costs low. When used right, it can improve resource allocation, drive productivity, and put your products in front of the target audience.
While it's true that AI cannot replace humans, it can become an extension of your team. For example, chatbots enable your business to offer 24/7 customer support, allowing human agents to handle more complex issues.
As a final word, take the time to try out different tools and strategies. Artificial intelligence comes in many forms, and what works for one business may not work for another.