With the continuous development of Artificial Intelligence (AI) looming on the horizon, businesses have made it their priority to find meaningful applications for the technology in their marketing strategies. Whether you operate as an e-commerce business or a cloud-based service enterprise, the notion of adding AI technologies to your business model can seem daunting at first. On the customer side of the equation however, AI means something different as opposed to the data-centric, revenue-based approach featured in the business market.
According to Adobe, 40% of marketing and sales departments on the global level have admitted prioritizing AI and machine-learning over other business strategies, while 37% of organizations have fully adopted AI in their business models in one form or another.
In order to make the most of the emerging, disruptive AI technology, we need to understand its implementation and day-to-day use from both sides of the equation. With that in mind, let’s dive into how the same Artificial Intelligence is understood and used by both sellers and customers in order to get a better idea of how to utilize it at peak efficiency.
The Fundamentals of Using AI Technologies
Let’s discuss what AI stands for briefly before we take a look at how sellers and customers perceive the technology from their respective points of view. Artificial Intelligence typically refers to machine-learning technologies centered on autonomous operations, continuous data gathering, learning and information analysis. We can find AI in a plethora of forms throughout the web, from conversational AI to in-house data analysis software and a variety of customer engagement functions.
Depending on the type of business you run or the type of customer you are, AI will mean very different things to you. While some customers prefer AI engagement over real-world agents, others will steer clear because they are used to traditional customer servicing and don’t want to change what works. Likewise, some salespeople and business owners might be apprehensive about, in their eyes, the costs of quality related to delegating important tasks to autonomous machine-learning algorithms as opposed to others who will wholeheartedly accept any help they can get.
The minutia of using AI in your business operations or customer experience online comes down to personal experience, beliefs, and preferences. However, that being said, we need to take a closer look at both arguments to get a better idea of what AI can do for us as a growing trend in the global market.
- Seller – Chatbot Customer Engagement
We’ve touched on conversational AI in the previous segment but it’s time to elaborate on the idea of AI-based customer engagement in greater detail. Chatbots are machine-learning algorithms capable of engaging visitors, helping them find relevant items or solve basic support tickets from them.
These algorithms are highly effective in terms of autonomous servicing and are seen as a positive integration of AI by a large number of businesses and executives. They are capable of learning more about human dialogue and intricacies of chatting the more data they collect, making them an essential addition to any online business with a high volume of visitors.
- Buyer – 24/7 Support Availability
On the customer’s side of things, chatbots are seen as an around-the-clock customer support service. This is an important factor to consider, especially for businesses which operate on a global level and aim to attract a variety of regions to their storefront. Coupled with writing platforms such as Evernote and Best Essay Education, chatbots can be equipped with personalized content such as dialogue, answers and a persona which will efficiently represent a brand to incoming customers.
Chatbots are praised by customers for their 24/7 availability and their competence in solving common problems such as order tracking, feedback collection or item recommendation questions. As mentioned previously, the only segment of the customer base against chatbots is the people who prefer live agents over AI, however small and shrinking this group may be.
- Seller – User-Generated Content Curation
Depending on the type of products or services you push to the market, there will come a time when user-generated content (UGC) will become a viable marketing strategy. However, if your users generate thousands of content pieces, it might become difficult to track, curate and implement them accordingly.
AI technologies can help businesses with UGC curation and management due to their analysis algorithms and custom filters based on your requirements. UGC can and should be a part of active marketing since social proof and testimonials play a major role in gaining public favor with customers around the world.
- Buyer – Personalized Shopping Assistance
On the customer’s side of the fence, AI is often seen as a tool for personalized shopping assistance in a variety of situations. For example, e-commerce websites often feature hundreds of items which can have an overwhelming effect on users who search for particular products. Writing tools such as Supreme Dissertations and Hemingway can be utilized to create personalized calls to action and similar types of content for customers to feel more welcome and engaged.
Using AI algorithms such as chatbots and filtering out unwanted content from the pool of potential purchase options can be highly beneficial for the customer’s satisfaction and the business’ bottom line. Most importantly, it allows businesses to curate future content more carefully depending on individual users’ expectations and preferences.
- Seller – Lowered Margin for Error & Increased Productivity
No matter how small-scale or international an online business may be, there is always back-end management to be done in some capacity. Small teams with limited resources will often refer to AI as their go-to option for customer servicing and data analysis for the simple reason of not having enough hands on the deck.
Similarly, large businesses use AI due to the fact that enormous amounts of data need to be processed every minute of every day, making manual analysis and management impossible. Effectively, Artificial Intelligence can minimize the risk of failure and margin for error in back-end management in addition to contributing to the overall increase in productivity across the board.
- Buyer – Streamlined & Curated Purchases
Customers that visit online stores and websites with the intent to purchase something will often be in a rush to move on with their days. In this aspect, AI can be highly effective at helping them streamline their purchase decisions and activities through careful guidance and suggestions.
Chatbots allow businesses to engage customers at any point during the customer’s journey, including the browsing and checkout pages respectively. AI can be instructed to assist customers by suggesting what to do next if they are stuck or to ask a question if they aren’t sure about their choice of product or shipping method (for example). This can enable engagement for a large demographic of potential customers, effectively increasing the business’ conversion rates and customers’ satisfaction level in equal measure.
- Seller – AI-Powered Performance Analytics
Business-related decision-making is an everyday occurrence for executives and website owners. However, making informed, well-researched decisions can be difficult without AI algorithms to back them up.
In this sense, AI can be used to research previous business patterns, industry trends, revenue streams, and customers’ data to allow for better decision-making and development choices to be made. Performance analytics done by AI take a fraction of the time it would require a real-world specialist to do, making its addition to the business model highly logical.
- Buyer – Shopping Accessibility through Localized AI
Lastly, AI can be used to introduce a variety of language options to customers across the globe depending on their preferences. Customers are highly open to buying items and services from brands which take the initiative and offer different translation and localization options for their convenience.
With that in mind, chatbots can be equipped with different dialogue options for a plethora of languages which can increase a website’s accessibility in the eyes of customers. In turn, businesses will have a larger assortment of data in regards to different regions and demographics, as well as individual preferences for each territory or country they do business with.
Bridging the Gap (Conclusion)
We can surmise that the term “AI” means different things for both parties involved in online commerce. However, this is just a matter of perspective and both sides are right in their arguments.
The real question lies in finding creative, original and meaningful ways to implement AI into an online business model which will be beneficial for every stakeholder involved in its use. Once AI is integrated for the sake of accessibility rather than industry trends and modernity, both customers and sellers will enjoy using the technology and keep finding interesting new ways to utilize it to its fullest potential.
Bio: Estelle Liotard is a graduated Digital Marketing Specialist and a Senior Writer at Trust My Paper. She has dedicated her professional writing career to bringing digital trends and marketing strategies closer to her readers by contributing to platforms such as Grab My Essay and Studicus respectively. In her spare time, Estelle enjoys cooking and listening to soft jazz music coupled with a glass of wine.