Unless you’ve taken a sabbatical from technology over the past 5 years, you’re aware of just how quickly Artificial Intelligence (AI) systems are evolving and improving. One industry that has been significantly impacted by the AI revolution is Ecommerce, and in particular their marketing and conversions teams. In fact, according to several digital marketing experts, the next few years will likely bring about fully automated AI systems that can take over all areas of traditional marketing and UX optimization.
Due to the high importance of AI-based systems, ecommerce companies have already started working on tools that can integrate the power of artificial intelligence in their marketing strategies. As this starts to happen, marketing campaigns will become more targeted and profitable, consuming lower budgets and providing more revenue to owners.
This week we’re going to be looking at six specific areas where AI will be impacting ecommerce businesses and why it matters. Whether your business is just starting out or already a market leader, there’s no doubt AI will need to be a focus in the coming years.
Making Programmatic Advertising Even Smarter
The world of digital advertising has seen a massive expansion over the last few years and the major reasons for this growth is data, data, data. Companies are now offering advertisers a limitless combination of behaviours, interests, and consumer profiles to make every advertising dollar count.
All this data comes with its own challenges however and companies today often struggle to identify the marketing strategies that are right for their business. This is where AI can pick up the slack. Today, there are several platforms that can simplify your paid marketing campaigns, identify top performing campaigns and automate campaign management without any human intervention.
Smarter Messenger Bots
Pretty much every messaging platform on the market is experimenting with messenger bots. Several social platforms have their own messenger bots that let users engage with a brand using natural language on a comfortable platform.
These bots are quickly starting to take over traditional customer service roles such as sales and customer support. For businesses that are tight on capital, integrating a messenger bot can be a great way to add a personal touch and engage with you customers at a low cost.
In addition to messenger bots on their favourite social networks, customers are quickly getting accustomed to using personal assistants in their homes. These new tools allow users to communicate with web services using only their voice.
The technology can be integrated into smartphones or smart speakers designed specifically for voice communication and just as with website optimization, expect businesses to jump on the trend of ‘Voice’ optimization in the coming years.
Automated Writing Bots
Believe it or not a large portion of the content uploaded every day to blogs and news sites is written by AI. Companies such as the Associated Press (AP) and Reuters have been using automated writing bots successfully for the last several years.
Many of these news writing bots are starting to be adapted to writing descriptions for ecommerce stores and are proving to be very successful. When compared with their human counterparts the AI writing bots are identical grammatically and considerably cheaper.
Improving Decisions with Auto Traffic Analysis
Widely used analytics platforms are also getting in on the AI action and are now providing businesses with AI tools to analyze website traffic. These tools automatically send in-depth reports that highlight performance and even suggest ways to improve traffic on your website.
One company has even taken this idea further by recently integrating an AI powered, text-based query feature that allows users to get accurate answers about their site directly from an analytics platform. For example, a user can ask, “What is the total number of visits to the accessories page of my ecommerce over the last week?” and it will provide the requested data and show a graph of the exact timeframe.
Increasing Conversions Autonomously
Big companies like the Wall Street Journal and Pandora are already using AI-powered software to increase conversions and improve the sales funnels on their platforms. Their software recognizes distinct patterns in user behaviour and collects data on what behaviour leads to conversions.
The AI then analyzes the data and makes minor alterations to the websites layout and evaluates whether conversions improve or get worse. Over time, the AI learns what alterations are most effective and applies those optimizations site wide.
Already, the new applications of artificial intelligence are beginning to have a considerable impact on the world of ecommerce. For businesses that want to remain competitive it will be critical to understand the various applications of AI and take the time to experiment with them.
Have you seen any interesting applications of AI in the world of ecommerce? Do you think artificial intelligence will change the industry? Be sure to let us know in the comments below and if you haven’t already, follow us on Twitter for all the latest news.