Today’s consumers no longer just want to communicate with their favourite brands in a personal way. They also expect to have a personalized experience with stores and companies presenting their services and products in ways that exactly appeal to them. With this in mind, machine learning and artificial intelligence are the two solutions that make this possible. They help you earn money and optimize the customer experience of your business, and this article will teach you how!
#1 Machine Learning Will Reduce Customer Service Issues
Machine learning enables retailers to predict and fix customer service issues before they even arise by analyzing large amounts of data and shedding light on the weak points in your platform. This means t lower cart abandonment rates and higher sales. This is all the more true knowing that customer service bots can provide helpful solutions around the clock.
#2 Machine Learning Will Help Recommend Products
Machine learning can be used to recommend e-commerce products based on various online shopping behaviours. It helps a lot in increasing the conversion rate. The algorithm analyzes customer data from different channels to identify purchasing behaviours and patterns. It can then predict what customers actually want when using the site. Personalized shopping has always been associated with high-end service. Artificial intelligence, however, allows anyone to craft this type of tailor-made experience in their business.
Machine learning will also improve the search functionality of websites substantially. It’ll display the results taking into account the user’s personal preferences and their purchasing history, not just traditional research methods like keyword matching. This allows it to generate a search ranking based on relevance to a particular user. This kind of technology is particularly important for e-commerce giants like eBay. The site has more than 800 million items in its catalogue. Artificial intelligence allows it to predict and display the most relevant search results depending on the situation.
#3 Enables More Direct and Effective Communication with Potential Clients
Salespeople in physical stores need to move from customer to customer and talk to each one individually to find out what they want. There are plenty of online stores that don’t have to go through the same process. They have a large amount of data on which to assess customer needs without ever needing to directly ask them.
Machine learning, therefore, works in favour of customer segmentation. The latter is of major importance for electronic commerce. Companies can indeed adapt their messaging and communication for each customer for maximum effectiveness.
These are just a few of the major applications of machine learning in e-commerce, there are many more: https://logicai.io/blog/applications-machine-learning-e-commerce-industry/. It is one of the frontiers of marketing and sales, and you should definitely look into it.