Posts in Category: Artificial Intelligence

3 Benefits of AI and Ecommerce Customer Experience Initiatives

Today, within the business world there is a lot of conversation going on about Ecommerce Customer Experience initiatives. Aside from this, with the initiation of customer experience in the online world, the concept looks like it is akin to the concept that says, the customer is always right. However, there is at least one caveat to this new concept and that is to add artificial intelligence along with it.

By adding artificial intelligence, the main goal is to not only please the customer but to anticipate what the customer is really looking for in products and services. In order to achieve these goals and objectives, in many of the top companies today, the focus will be on collecting data, storing data and analyzing it so that it can be used in a more productive manner.

With that being said, since this type of initiative will also require quite a few bucks behind it to get the ball rolling, many people are already asking what are the actual benefits that connect it to earning more money. To answer this questions, here are 3 of the key benefits that have been noted thus far.

1 Reduces the Cost of New Customer Acquisition

Today, businesses have large budgets that they allocate to marketing and sales alone. A big part of the marketing in any business organization is to create promotions for attracting new customers. Even though new customers can bring in a substantial amount of money, the new initiatives will also focus more on retaining customers instead. By anticipating what the current customers need and want, they can keep loyal customers coming back over and over again for many years to come.

2 Reduce Revenue Lost

Another big part of this initiative is to concentrate on reducing revenue lost. With artificial intelligence involved in the feedback that comes from the customer, the products and services offered will not only fit the immediate needs but future needs too. This is normally done by tracking the customer buying habits, preferences and a host of other things that will help make decisions real time based on what the customer has already made purchases for.

#3 – Help Better Manage and Ecommerce Customer Experience

With AI in place, the team can better manage their operations. From hiring the best people to manage customer service operations to put the best practices in place for the entire organization, the data that comes from AI can be used for a wide range of different decision-making opportunities.