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Why Your eCommerce Company Should Take Advantage of the AI Revolution [Infographic]

Why Your eCommerce Company Should Take Advantage of the AI Revolution [Infographic] Blog Feature

February 23rd, 2019 min read

Artificial intelligence is in the media a lot these days.

From warnings that AI is replacing our jobs and “smart” home technology cropping up everywhere, to movies where robots outsmart humans and take over the world. (I’m looking at you Ava from Ex Machina...savage.)

 

via GIPHY

Here at IMPACT, we’re embracing AI in the form of chatbots, smart forms, and more and we’re not alone.

According to Gartner, chatbots alone will power 85% of all customer service interactions by the year 2020.

For eCommerce businesses, AI tools have the potential to dramatically impact sales by connecting with more people faster and driving your leads down the funnel without even lifting a finger.

Here are some artificial intelligence tools to consider using for your business:

1. Chatbots

If you’re not already using chatbots, you should be. They are a no-brainer. There are a number of ways that your eCommerce business can use chatbots to boost sales and create a more engaging customer experience. For instance:

  • Pick up the slack during busy times of the year, or when human staff is off the clock.

  • Engage users with a welcome message when they first visit your site.

  • Recover lost sales from abandoned carts.

  • Weed out the riff-raff with qualifying questions.

  • Answer basic questions to free up your customer service team for escalated issues.

  • Deliver offers, discounts, and giveaways to users.

2. Recommendation Engines

Recommendation engines are one of the most popular tools eCommerce companies use to increase sales.

Imagine the impact on your customers’ shopping carts if they see products that complement ones that they’ve been browsing, or if your business seems to know your customers’ personal taste better than even they do.

eCommerce giants are wholly embracing recommendation engines, and for good reason.

Amazon estimates that 35% of its sales are generated by its recommendation engine, while Netflix reckons its recommendations create such a rewarding customer experience,  they save the company about $1 billion per year.

Giving your customers this little extra goes a long way towards creating customer loyalty and increasing your revenue. Win-win.

3. Predictive Sales

Wouldn’t you like to know how your business is shaping up for future growth?

Utilizing algorithms and machine learning to analyze historical data, you might be able to find out. Go ahead and throw your gut feelings out the window and rely on cold, hard facts to power your sales strategy this year and beyond.

4. Warehouse Automation

Ask any operations manager what could be improved to increase an eCommerce business’ bottom line, and they’re sure to say warehouse efficiency.

eComm companies rely on an efficient warehouses to keep costs low and shipping volume high, but (wo)manpower alone simply cannot produce the most efficient warehouse possible.

Enter warehouse automation. Automating your warehouse with a warehouse management system (WMS) reduces human error, makes for faster packing, and maximizes the accuracy of your shipments -- just a few things your customers, and your ROI, will thank you for.

Bots Are Anything But Robotic

If you’re worried about your AI seeming, well, artificial, it’s a valid concern.

Fortunately, technology has come a long way. People are used to, and even like, talking to bots like Siri, Alexa, and Cortana. In fact, PricewaterhouseCoopers claims  27% of consumers said they weren’t sure if their last customer service interaction was with a human or a chatbot.

That’s a good thing, but don’t just take my word for it.

Here’s an interesting infographic by Magneto.

If this doesn’t have you convinced to join the AI bandwagon, that’s cool. Just chill in your human-powered company until the bots invade. When they do, we’ll be waiting for you.

Infographic Via Magneto IT Solutions
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