E-commerce is continually expanding. Global e-commerce sales are expected to reach $5.8 trillion by 2023, with an 8.9% growth rate. As more businesses sell online and the space evolves with new capabilities and solutions, competition and customer expectations rise.
AI solutions can assist in the creation of dynamic category pages, product page optimization, and storefront design across several digital devices to provide tailored experiences. It is less daunting for merchants to approach generating and managing these critical components with the help of AI and modern technologies on their journey to attaining business objectives. A nice approach to break it down is to look at it from the perspectives of client acquisition and conversion boost individually.
Customer Acquisition
This is the process of acquiring new consumers or clients for a business. Here are some things shops may do to attract customers.
Have compelling information on your website: Before purchasing a product, more than 80% of online buyers undertake extensive research, which includes viewing videos, buying guides, blogs, product descriptions, customer FAQs, “About Us” sections, and more. That is why it is critical to create accurate and engaging information. Owners frequently struggle to decide what to put on their websites, and they wonder if their wording is correct and will resonate with their target audience. Businesses can use AI solutions to generate high-quality, uniquely personalized content by supplying many parameters about the required text. Within seconds, these capabilities generate alternatives for custom titles, taglines, and paragraphs. These tools help combat the time-consuming efforts required to create a professional-looking website and essential marketing materials such as social media posts, email marketing campaigns, and landing pages that help attract potential customers’ attention and get them talking about and engaging with the brand.
Brush up on your SEO: In order to attract new clients, websites must be easily found. Merchants must provide search engines with the necessary information for appropriate indexing and submit structured data markup for their website in order for search engines to boost its search results and ranking. Search engines can also use markup to generate rich results such as article previews, product previews, and FAQs for search results. Again, AI techniques can help find the ideal meta tags and meta descriptions for search optimization, removing much of the guesswork.
Invest in an omnichannel approach, including social channels: Buyers are increasingly choosing to shop through digital channels, and as a result, they are everywhere. Approximately 73% of consumers make purchases across several channels, with 65% using social media for inspiration. Furthermore, consumers who use four or more channels spend about 9% more than those who stick to just one. To acquire new customers, vendors must be where their customers are. Merchants can increase their chances of acquiring new customers by selling their products and syncing their catalogs across branded web storefronts, physical stores, social media, and marketplaces. Merchants can use AI to create social media posts to promote products, announce sales, and communicate with followers, as well as develop instructional videos about product-related topics to attract loyal customers.
Conversion Boost
This is a concerted attempt to ensure clients complete their transaction. Below are some ways that retailers can use to increase conversion rates and income.
Get personal: Customers want to be treated as individuals. AI can help online companies change their storefronts in real time, resulting in hyper-personalized shopping experiences, catalogs, and promotions. These AI solutions enable merchants to offer and present the appropriate products in the right sequence to the right consumer, lowering friction and increasing conversion. Furthermore, product recommendation solutions can learn from shopper interactions and use various suggestion algorithms to boost average order value.
Provide the greatest customer service. Superior customer service is the precursor to greater conversions. Sellers can improve customer service by implementing AI-powered chatbots. Already in 2020, chatbots handled 85% of customer care interactions, and 80% of retail and e-commerce companies use or plan to deploy AI chatbots. Regardless of the question, AI assistants can connect with consumers 24/7 and solve or streamline the process for customer support personnel in the case of more complex cases. Furthermore, 40% of customers anticipate discounts and unique shopping deals from AI chatbots.
Make sure to activate the abandoned cart recovery tools. Every year, 4.6 trillion dollars’ worth of items are left in digital carts, with an estimated $260 billion retrieved. Merchants can implement abandoned cart systems on their websites, allowing customers to receive tailored and customized emails to remind them of the items. Multi-step recovery strategies can help select how many emails to send to customers and at what intervals. It’s also worth considering including coupons in these emails to make the purchase more enticing.
Conclusion
Breaking new territory, attracting new customers, and increasing sales are becoming increasingly difficult as more merchants sell online. Both competition and customer expectations have reached an all-time high. Technological innovations are paving the way for these retailers.
Sellers may now use technology to produce distinctive and appealing SEO-optimized content, synchronize catalogs and promotions across several platforms, and provide the shopping experiences that buyers expect. As technology advances, there will be more tools and chances for technology to do the work, allowing merchants to concentrate on expanding their product and service offerings and growing their businesses.