How AI Based Content and Commerce Personalization Increases Revenue
One of the core values of AI-enabled technology is that it personalizes the user experience. Take Alexa, for example. Amazon’s virtual assistant has brought convenience to the web by replacing textual-based queries with a voice search function that frees people from the keyboard. Marketing directors in eCommerce have been hyper-focused on user experience questions for years, as mobile search increases and SEO continues to fuse with content marketing.
Global brands, always on the lookout for ways to stay ahead of the curve, need to take stock of how AI integration can bring in more revenue. AI is geared towards interpreting reams of data and churning it into a more personalized user experience - a data-driven process that has positive customer service and revenue generating implications for any business.
Here are the two most important reasons why AI-based content and commerce will improve customer experience and ultimately bring in more revenue:
Individualistic Customer Experiences
Existing AI technology is built upon a technique referred to as deep learning. A deep learning system that has gathered enough data on a particular topic will be able to recognize patterns and generate answers to user queries more accurately and efficiently than ever before. Companies can collect information about customers across the digital sphere, and through in-depth learning optimization, use it to map the customer journey. It could mean, for example, investing in messenger chatbots.
Chatbots, like the Facebook Chatbot for Magento 2, communicates automatically with customers on the social network. In general, chatbots offer the following benefits:
● 24/7 Application
● Optimal for mobile use
● Excellent customer service record
● Automates repetitive work
● Tracks individual customer history and recalls it with ease to inform new product offerings
The RapidMiner Success Story
Some companies have successfully incorporated chatbots and seen significant spikes in lead generation and revenue. One of these companies is RapidMiner, a data science software firm that decided to focus their lead generation strategy on chatbots.
● 4,000 new leads generated by chatbots
● 25% of the sales funnel taken up by chatbots
The executives at RapidMiner implemented chatbots because they realized why customers were coming to their site: to solve a problem or get answers to specific questions. Chatbots are ideally suited to dealing swiftly with customer queries, and RapidMiner was able to simplify their lead generation strategy with registering strong results.
Data-Driven Decision Making
Aside from generating more revenue from sales, AI applications can also cut costs on the operational side.
For example, automated marketing software available today can perform complex tasks in seconds. Based on machine learning and natural language recognition skills, these marketing platforms seamlessly automate many areas of digital marketing that traditionally are done manually. Customer Management Software (CMS) is an example of AI-technology put to use for automated tasks like email newsletters, user tracking, and automatic push notifications to generate new leads. Though letting people go is never an easy choice, it is undoubtedly the right choice if it means the integration of automated marketing procedures.
Make the Most of New Data Insights
At Ameex, we are experts at integrating AI applications into your digital platform. Contact us today for a consultation on how Machine Learning and Artificial Intelligence integration can help personalize your buyer's journey and drive revenue.