Greater advantages follow the suite as the applications of AI and ML have become an inseparable part of the eCommerce domain. And what does it take to create those ‘Aha’ moments for customers in eCommerce? Well, with the recent developments, optimizing eCommerce store experience with ML is now easier that ever. Moreover, as a matter of fact, Ecommerce sales have amounted to $4.88 trillion, all thanks to the recent innovation in the field.
According to Gartner, AI currently manages up to 80% of consumer interactions with a particular brand.
Many new eCommerce trends have emerged as a result of this, including image/video-driven interactive eCommerce, voice-based eCommerce, personal stylist-driven eCommerce, mobile retail shops, artificial intelligence, augmented reality, and so on. eCommerce via platforms such as WeChat, Amazon, eBay, and others is also changing how consumers shop.
Hence, the biggest challenge for eCommerce marketers is how to personalize digital shopping experiences in the face of so many changes happening around, with various dynamic factors at play, such as COVID-19’s impact on purchasing behaviors, and others. Let’s explore the ways how ML and AI can help optimizing eCommerce store experience in the new era.
Creating that ‘Aha’ Moment
The key to high conversions is having a cognitive approach that creates meaningful “Aha” moments that compel your prospective customers to notice your products or offerings and finally make a purchase. Diversifying into more and more sectors or merely having a broad list of products or services and a website to present your offerings to your target audience are not the only drill.
Apart from traditional marketing methods, brands are also needed to incorporate new marketing channels such as digital advertising (including social media, SEO, PPC, SEM, and so on) to create those moments and promote customer engagement. Especially in this digital era when customers believe in the power of product reviews, and personalization, creating that Zeroth moment of truth for your eCommerce brand is essential. And technology like ML and AI can dramatically improve your brand’s truth discovery and marketing efforts. Data is one of the most important components for creating these aha moments.
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Conducting A/B tests using Machine Learning
A/B testing is a useful tool in digital marketing, but it can also be difficult to use. Let’s assume a brand wishes to do an A/B test on one of their product pages.
To begin, how does one know what to change? The pricing display? Position of your CTAs? What about the background? The Ad copy visual may be? Or the content on CTAs?
Evident enough, when they adjust multiple things, they may never know what will create the next positive or negative shift. However, if they simply modify one thing, the difference may be so minor that it goes unnoticed.
On the other hand, ML and AI makes this testing process easier. And how?!
- It determines which elements to test based on previous data and builds variants automatically.
- It can update page components dynamically based on test results. For instance, various demographics or locales may require different types of page layouts.
- It can easily detect relations between even minor changes, and hence locate the best solutions much faster.
Businesses cannot rely on human pace for all marketing operations in a time when customers demand real-time services and personalized experiences. Brands must devise new and improved methods for transforming hard effort into smart work. It’s a blessing for eCommerce brands to use technologies like artificial intelligence and machine learning to help them become omnipresent and provide the exact shopping experiences that customers need in today’s world.
