Buying products and services online is becoming normal and natural for more and more people.
Many companies have already found a good, economical, and comfortable way to reach their clients easily. They are using Artificial Intelligence (AI) to change e-commerce we knew in the past.
The most impressive changes that already happened are:
Increasing Importance of Emerging Markets
About 3 billion customers are expected online by 2022 in emerging markets. A report presented by The Boston Consulting Group even says that most of the people will collect important information online before making a decision to buy products. This means that nearly $4 trillion purchases per year will be digitally influenced in the future.
AI can support decision-making by providing customers with relevant information more easily and much faster.
Personalization of the Customer Experience
The customer and user experience are going to become the most important parts of the future marketing process. Already today, more and more companies are competing against each other to be seen, heard, and noticed by the customer.
The Customer Experience Excellence (CEE) from 2016 shows that the best companies in Britain are the ones that learned to connect with their clients in a humanized manner. Because of that, adapting the customer experience to the individual needs, wants, and emotions of every customer is crucial for every modern organization and business. It allows companies always to react accordingly to the actual market.
One of the best examples of adaptation is personalizing the offers. The big enterprises today already show how important this aspect is. Co-op Travel increased the visitor numbers by 95 % and revenue by 217 % by implementing personalization.
Personalizing the customer experience and adapting the marketing strategy can be accomplished only with a substantial and thorough database. To provide this data, marketers should consider an AI-driven solution that gathers all relevant customer data over time and present an accurate overview of all buying individuals, especially their contextual characteristics, their product preferences, and their favored price range.
Acquiring new customers costs five times more than keeping the current ones. Because of that, it is very important for companies to retain their customers as long as possible.
With today’s AI-driven marketing automation, it is becoming much easier for companies to lead their new customers to follow-up-orders regularly and secure long-term profitability this way. For example, modern email marketing software provides marketing teams with personalized promotional messaging and individualized product recommendations for repeat customers. This has only become possible by the latest advances in predictive sales forecasting.
Read more about predictive Sales forecasting in our post: AI in Sales Forecasting – knowing the future is not just a dream anymore
Customers expectations are changing. With new technologies and growing online market places comes a new customer experience that has to be taken seriously by every company that wants to become or stay successful in the future. The fast and easy way to meet the customers’ expectations is to invest in AI now and let the marketing team go new, prosperous ways.
And this is exactly how we can help you. Please reach out to us if you want to learn more about our AI-based solutions for e-commerce at email@example.com or visit our product detail page for more details.
If you are interested in high-level insights on your customer base, you can also try our Google Analytics Traffic and Conversion Forecasting for free. This tool directly integrates into your Google Analytics account and provides you with estimates about future website visitors and sales volumes.