The influx of artificial intelligence technology in the e-commerce industry is changing the traditional way of shopping in many ways. Machine learning, NLP(natural language processing), and other AI tools enable enterprises to attract and maintain new customers. It can help you increase user engagement as well.
- For potential customers
In the e-commerce world, most sales teams don’t follow up sales leads because they think it’s just a waste of their marketing budget. In fact, according to a survey, 33% of companies did not even try to follow up with potential customers. Many promotion opportunities are missing. Technologies such as prediction tools can help you keep and track records of brand loyalty and customer product preferences. AI will analyze all the data of millions of potential buyers and identify their specific needs and standards that you can use to meet your business needs.
2. Focusing on AI personalization
Although personalization in the e-commerce world is not a brand new conception, you can use AI to take it to a new level. This can provide a competitive advantage in your niche market. AI personalization service enables enterprises to identify customers’ behaviors every time they interact online.
In today’s customer-oriented market, many decisions are involved, including understanding customers’ needs and desires and adapting the products accordingly. In order to make the best marketing decisions, it is absolutely important to understand the changing customer behavior. AI’s modeling and simulation technology can give you customer insight and help you predict their behavior. Through forecasting, trend analysis, and real-time data collection, artificial intelligence can help enterprises make reasonable marketing decisions.
3. Improving the sales process
Nowadays, customers’ lives are greatly influenced by various advertisements online and on social media platforms. In order to tailor the problem-solving process and build strong sales information, you may need to consider integrating AI into the CRM process.
Most AI systems support voice input and natural language learning. It also enables the CRM system to respond to any customer query, solve their problems, and even explore opportunities for the sales team. Moreover, the CRM system driven by AI can even perform multitasking to deal with these functions, and so on.
1. Why Corporate AI projects fail?
2. How AI Will Power the Next Wave of Healthcare Innovation?
3. Machine Learning by Using Regression Model
4. Top Data Science Platforms in 2021 Other than Kaggle
4. Price optimization
Dynamic pricing is very important for most e-commerce retailers because it can promote sales and generate more profits. Through machine learning, organizations can now monitor and adjust prices as needed. In order to make more accurate price suggestions and sales forecasts, the algorithm can check various historical data and competitive data. In addition, dynamic pricing can even increase profits by as much as 25% on average.
5. Instant support: Chatbots
Using AI through chatbots is a good way to answer questions and customer queries in real-time and promote customer transformation rate. In addition, it is relatively easy to install. Many e-commerce enterprises choose the chat robot with AI function not only because it has the ability to automate the process, but also it provides excellent customer service in a cost-effective way.
6. Expanding business with AI tools
Artificial intelligence has undoubtedly swept the world and will replace most jobs for some time. Now, many companies are promoting AI-based products to improve business efficiency, In the e-commerce business, however, most e-commerce stores are still far behind in using the functions of AI tools.
But one thing is clear. AI tools do most of the repetitive, mundane tasks that many online business owners hate, paving the way for e-commerce retailers to check the millions of interactions that happen every day.
There is no doubt that AI is changing the way of sales and marketing. With this technology, many brands and enterprises can understand the ideas of their target markets and customers, and use this information to sell their products.
Just as a triangle needs three sides to stabilize its shape, artificial intelligence will also need all three elements to perfect itself. In fact, getting high-quality labeled data is the toughest part of building a machine learning model.
ByteBridge is a human-powered data labeling and collection platform with robust tools and real-time workflow management.
We provide different types of NLP in E-commerce, Retail, Search engines, Social Media, etc. Our service includes Voice Classification, Sentiment Analysis, Text recognition/Classification.
Moreover, a collaboration of the human-work force and AI algorithms ensure a 50% lower price compared to the conventional market.
If you need data labeling and collection services, please have a look at bytebridge.io, the clear pricing is available.
Please feel free to contact us: firstname.lastname@example.org
1 Chatbot — One of the Most Popular Applications in the NLP Field
2 Main Applications of Natural Language Processing(NLP) — 1
3 Main Applications in Natural Language Processing Field(NLP) — 2
4 Main Applications in Natural Language Processing Field(NLP) — 3
5 The Best Data Labeling Company in 2021