I’m sure you have all known about how Artificial Intelligence (AI) has continued to grow in all business areas. But what is AI anyway, and what does it have to do with marketing?
More importantly, how can you use AI in retail and eCommerce?
Read on to learn more about artificial intelligence retail solutions with these practical ways to utilize AI in your marketing strategies.
- Try Smart Technology
Do you know about the Internet of Things (IoT)? In the modern world, the Internet has become even more than just computers connected to one another. There are even more devices and objects connected to the Internet today!
Printers, smartwatches, fridges, cars, and even other appliances can be connected to the Internet, making life much easier. Take, for example, intelligent fridges that utilize AI and interior cameras that orders more groceries when your food levels are too low. Furthermore, it recommends recipes for meals based on the ingredients in the fridge.
- Adopt Chatbots
You have probably used a chatbox when you shop online, and chances are, you were most likely talking with a bot that was programmed to assist you with queries and complaints. Most times, people won’t tell the difference between talking with a bot and a person!
With new chatbots businesses can invest in, chatting experiences are more branded, intelligent, and personalized. Today, eCommerce offers 24/7 customer support to their customers and visitors while collecting valuable data, tracking behavior, and even reaching brand continuity. This is all thanks to AI’s advancement and machine learning.
With an efficient and automated chatbot, retailers and eCommerce can raise conversion rates by tailoring the ideal online experience for their customers without exerting more effort.
- Install a CRM Tool
One of the most impressive features AI has to offer is the predictive nature it provides. That’s where Customer Relationship Management, or CRM, comes along. But now, it isn’t done solely by people but through the help of AI and its excellent tools.
Now, your team doesn’t have to collect and organize copious amounts of data manually. AI does this for them, even helping them draw conclusions and analyze decisions based on the data accurately collected.
Even if you don’t have any team member in-house knowledgeable at Excel Pivot Tables, you can program your AI to collect all incoming data and to send you the crucial information about those most likely to buy from your store, what they will buy, and how you can effectively increase their engagement to max the conversion rate of potential and current customers.
AI in CRM is also very beneficial with your advertising, as you won’t have to spend too much on ad exposure. In today’s marketing era, you can focus more on quality, directing better and more relevant advertising to your target market at the correct times. These won’t only benefit you; it improves the customer experience as well.
- Utilize Inventory Management
Another great thing about AI’s predictive analysis is how it improves inventory management as well. Understandably, it’s tough keeping all your inventory up to date, with the shelves stocked, and ensuring you have an accurate list of everything.
AI technology now helps shop owners receive crucial information about the factors that drive demand and predictive analysis of what the future needs may most likely become. Based on how machine learning performs, the longer you utilize AI for inventory management, the smarter it becomes for the business since it will learn more about your customers, visitors, and the company itself.
With AI, eCommerce owners and retailers can accurately predict inventory needs, both in real-time and in the future, to make their business even better.
Wrapping It Up
AI is extremely helpful in improving the eCommerce and retail platforms, catering to the needs and interests of customers and visitors. And as it continues to adapt and evolve, it’s time to get even more intelligent and faster with the business through AI!
Hopefully, you learned a lot about the wonders of AI and how you can use it to help your business. Don’t wait any longer, and look into these excellent tools and methods to jumpstart your strategies today.