AI makes its presence (usually through chatbots) felt in every industry by helping businesses anticipate what customers want. Be it the banking sector, medical sector, manufacturing industry, etc.; Artificial Intelligence is all set to transform the business world. One of the crucial factors driving this transformation is an exponential growth in hyper-personalization, which, combined with stellar customer service, and content creation strategies will automate the different aspects of every business.
In short, AI has proved to be a game-changer for a company’s business.
Many factors contribute to the rise of AI in the business world. One of the most significant factors is that the technology has gone way beyond just big companies to SMEs. It is a misconception that a small company cannot afford AI. With the availability of comparatively cheap SaaS tools to develop chatbots, and other AI-powered bots, even small businesses can now compete with the big players.
Check this graph from Smart Insights to understand how to utilize AI to improve your efforts:
According to SalesForce, only 29% of marketers used AI to reach customers in 2018, the number reached 84% by 2020, and the percentage is still increasing. In this blog, I have gathered the latest insights, research, and examples that will help businesses connect with their customers like never before. But first thing first.
How is AI Transforming Businesses?
Dr. Hossein Rahnama, the CEO of Flybits, talks about how banks can integrate artificial Intelligence into banking systems such as mortgage queries. He says:
“Use this technology if you have a mortgage with the bank and it’s up for renewal in 90 days or less. If you’re walking by a branch, you get a personalized message inviting you to go to the branch and renew your purchase, If you’re looking at a property for sale and you spend more than 10 minutes there, it will send you a possible mortgage offer. We’re no longer expecting the user to be on a search box Googling what they need constantly,”
Dr. Hossein further explained:
“The paradigm is shifting as to how the right information finds the right user at the right time.”
Example of Dream – Project of Wombo
AI has no limits – 2022 will prove it. In fact, in December 2021, AI has taken another curve. It has revolutionized the world of art. Van Gogh’s Starry Night can now be transformed into a beautiful and abstract image using artificial Intelligence and neural networks. Wombo – a Canadian startup, has created a Dream App (iOS and Android) that can turn your creative descriptions into unique works of art using AI.
It has made it accurate that you can create mesmerizing paintings with your words. This algorithm was trained with thousands of modern and abstract paintings images before generating its own unique images.
Let’s see how AI will transform businesses in 2022:
Hyper-Personalization is on Fire
The trend is real! 73% of customers prefer to shop from brands that take personalization into account. On the other hand, the research found that brands with preferred personalization get 8 times better ROI than other companies and easily improve their sales by 10%. Hyper-personalization is the new buzzword in business – especially eCommerce. It means brands recommend products, services, and offers to customers based on their preferences, browsing history, previous orders, purchase patterns, etc., to customize the experience for you.
Brands are using AI to help them understand their customers better. This sort of personalization has the potential to take the online shopping experience to a whole new level. For instance, one of the most renowned clothing brands, Thread, uses AI to help them personalize the shopping experience for their customers. If you visit their site first, Thread asks you to fill a personalized quiz. Based on your answers, it offers you clothes that you might like.
They use this information to provide better recommendations and suggestions. That is how they provide customers with products they didn’t even know existed. The idea of using hyper-personalization to help customers find new clothes is that this AI-powered product finds the right size for you. This leads to my next point.
AI Helps Brands to Make the Right Decisions
AI-powered bots are becoming smarter. Soon, they will be able to take care of multiple tasks and learn from their mistakes. They can help eCommerce businesses make the right decisions regarding product launches, new designs, customer outreach, etc. For instance, chatbots can help businesses understand what products are trending right now. This data can then decide which products should be re-launched or discontinued. AI can also help eCommerce businesses to identify who their target customers are. This information can then customize their content and outreach efforts to increase conversions and boost revenue.
Messaging Apps are Becoming Even More Important
Brands focus on messaging apps integrated with AI to get their message across. They are currently the next big thing in the tech space. Brands can do PR through chatbots on messaging apps like Facebook Messenger when talking about eCommerce. For instance, if you plan to launch a new collection, you could ask your customers for feedback and announce it through chatbots.
These apps could also host ‘live chats’ with brand representatives, where customers can ask questions and get immediate feedback. Apple’s Siri, Microsoft’s Cortana, and Google Home are AI-powered virtual assistants aiming to enter the messaging app space. These apps will take the experience of chatting with AI even further and allow businesses to reach their customers directly on messenger platforms.
For instance, check the latest insights from Business Insider:
The point is; Messaging apps integrated with chatbots can help you to deliver:
- Marketing Engagement: 47% of customers prefer to purchase products through bots. They prefer AI because they don’t have to wait for hours to get personalized responses to related queries.
- Customer Support: Chatbots provide 24/7 customer service and offer a personalized experience for customers worldwide.
- Product Launches: Messenger bots can help you launch products and get immediate feedback from customers. You can even conduct surveys on messaging apps to gain customer insights and understand their opinion on new products.
Better and Smarter Content Creation with AI
Content creation is a process that requires a lot of time, effort, and human resources. It can even take years to find talented writers, training them to follow your brand guidelines, style guide, etc. This is where AI steps in and solves the biggest problem for content marketers. With the help of AI, you can create quality content in less time and without having to spend too much money.
For instance, Jarvis – an AI-powered tool, helps you to write content using a set of prompts, facts, and other data. It’s a new revolution of AI that allows business. Jarvis uses a combination of data and the writer’s personality to complete a piece. The best part is that it will be personalized to your brand guidelines.
You can choose from different templates or create your own post by uploading images or videos. Then, the tool will automatically create social media posts that your brand can publish to reach a larger audience with relevant, tailored content. It doesn’t end here. Jarvis can also suggest popular hashtags for your posts and tell you exactly when to publish them. AI is taking content marketing to the next level by helping marketers develop relevant post ideas, write more engaging content, and distribute it at the right time.
Personalized Product Recommendation
Artificial Intelligence helps customers to discover related products that they might like. For instance, it can recommend the best-selling products in your niche to users based on their interest and purchase history. It recommends products similar to the ones they have browsed before, helping them discover better products within your e-commerce site.
Example of Amazon:
Did you think Amazon had the mere luck to become the biggest e-commerce store by chance? No! Amazon has integrated AI into the path of the customer journey that helps to understand what they like and dislike, their interests, product preferences, and sentiments about products. They use this information to make the next purchase suggestions relevant and exciting.
Product recommendation is one of Amazon’s most effective strategies. When you shop on Amazon, you often see “recommended for you,” “customers also bought,” or the “You might also like” section under the product description. That’s because every product page has a good amount of information, which helps the product get discovered by other shoppers. Customers can easily see what other customers have bought, reviewed, and recommended for them.
The powerful AI-integrated system is the reason why Amazon’s Bounce rate is the lowest when compared to other giant markets:
The same study also found that average consumers spend more than seven minutes shopping and click on at least 9 pages. That is the dominance of more robust Ai in product recommendations.
AI Chatbots – the New Personal Assistants to Businesses
Chatbots as virtual assistants are taking over! In a world where people prefer messaging to calling, chatbots have become the latest rage. AI-assisted chatbots are taking over the task of handling inbound queries. These bots can provide information, announce sales and offers, send notifications, guide you through the payment process, etc. Today eCommerce brands use chatbots to provide customers with product information, discounts, and deals. They can even conduct surveys to find out customer preferences. Using these insights can help improve the shopping experience for customers. These chatbots also can become virtual assistants, collecting information for their customers and providing them with relevant offers.
Clepher – The New Normal of Customer Service is Here!
Online shopping has never been simpler, but the experience doesn’t feel complete. People have a lot of queries and concerns about their purchases every step of the way. Did you know a 5% increase in customer service can produce 25% more productive results? This is where Ai-powered bots bridge the gap for your business! Professionally created AI chatbots from Clepher are helping businesses 5x the rate of customer inquiries. They take care of the customer service by assisting customers with product information, order queries, returns, refunds, announcements, etc.
From the business side, chatbots allow businesses to free up their resources. This means that they can focus on more pressing issues that will help them grow their eCommerce business. For instance, our expert-built messenger and Instagram bots help industries to provide a personalized experience based on their customer needs. They save time and human resources that can be used to serve customers better using real-time customer information.
The best thing: Clepher provides many chatbot templates, but also over 120 professionally built chatbot flows that will help you connect with the audience and provide a never-before experience. Plus it allows you to build AI chatbots for your business fast and easy.
Check these 120+ chat flows from Clepher for every business sector and industry:
These chat flows have the solution for you. It doesn’t matter which industry you represent, what sector you own, or what services you provide; Clepher gets you!
What does this Mean for E-commerce Businesses?
AI is taking marketing and customer service to the next level. It has already made its way into marketing by improving engagement levels, reaching out to customers, and providing personalized experiences to a large audience. For customer service, AI-powered chatbots are there to free up your resources so that you can focus on building customer loyalty and more significant issues that can help you increase revenue. Chatbots are available to aid any business sector and industry. Clepher has introduced 100s of chatbots templates that you can use to provide a personalized experience to your customers.
Following are the ways an AI chatbot can boost your E-commerce business:
1. Engage Your Audience Better
A chatbot allows brands to personalize their messaging and connect with customers 24/7. It is the best way to stay in touch with your customers and keep them engaged. By providing personalized experiences, brands can encourage repeat purchases from existing customers and improve their customer experience. Brands can retain current clients better and encourage them to spend more on their products with a personalized customer journey.
2. Help Customers to Get Answers for their Queries Easily
A chatbot provides customers with quick answers to their queries. A chatbot can save you a lot of time and effort by answering customer queries instantly. This way, you can focus more on creating better products and engaging your audience.
3. Collect Sentiment Analysis-Based Insights on Your Products
A chatbot can understand customers’ likes and dislikes, the products they are most interested in, and their sentiments about your brand. It can also act as a marketing research tool that gives you actionable data that you can use to improve the way your products are being marketed. Businesses can collect real-time customer sentiment analysis-based insights and make well-informed decisions with chatbots.
To conclude, AI and chatbots are the future of a business. They help you provide a personalized experience, get actionable insights into your audience’s needs and wants, and provide 24/7 customer service. With Clepher, you can get access to 120+ chatbots that will give your brand an upper hand in this digital market. If you want to explore more Clepher chatbots, check this out: 120+ Personalized Chatbot Flows for Businesses.