It’s hard to ignore the impact machine learning is having on the world of eCommerce. From customer-facing examples like Amazon’s Echo and Google Home, to back-end software like semantic search engines and algorithmic product recommendations, machine learning is rapidly becoming the core of any successful online business.
This holiday season, machine learning could help your online business create conversions even beyond what you’re seeing on peak days. All you need to do is realize the potential for machine learning applications within your eCommerce ecosystem. And, it just so happens that there are a few opportunities that can be actualized during the holidays especially.
Take a look at a few machine learning examples that bring a warm, friendly face to your eCommerce’s day-to-day operations during the holiday sales season:
- Intelligent chatbots: These simple AI programs can act as your customer service team, sales force and brand representatives, solving simple tasks and providing customers with critical information that can lead to a purchase. In fact, many of these bots are so seamless your customers will never know the difference between the bot and a live person! They’re the simplest way to make your forward-facing business more welcoming. Additionally – our friends at Shopify now have Kit which is a machine learning chatbot that will help you, the merchant launch just about any eCommerce marketing campaign and run your business. In short, use it this holiday if you’re on the platform. It will change your #BFCMwin
- Semantic search function: Nothing frustrates shoppers faster than a search function that returns cyclical results. If search yields nothing, there’s overwhelming data to suggest your customer isn’t converting either. Not only will machine learning in this situation improve the validity of returned search results, it’ll even help increase overall sales by returning better results. The search will learn over time, producing results that correct misspellings, better-position optimal products, and even select relevant products with the best margins for your store!
- Merchandising algorithms: According to eCommerce platform BigCommerce, retailers could see up to 40% in conversion bumps when merchandising is executed properly. Clear and pertinent recommendations make customers feel like you understand exactly what they like and want, as opposed to simply showing them high-priced or high-margin products. Machine learning is at the heart of this and can take the guesswork out of where and when products are displayed and who’s seeing them.
- Inventory management: One thing no customer likes seeing is the “product out of stock” message when they add something to their cart. Machine learning provides a convenient alternative that will resonate better with shoppers. Use machine learning to monitor inventory levels and display messages such as “only X left!” or “restocking on DATE.” This offers an open, honest message for customers, without disappointing them as they go to check out.
The applications for machine learning go far and above even these core examples. And, during the busiest shopping season of the year, you’ll be relying more and more on the automation and practicality of machine learning to help you stay ahead of the competition. As shoppers flood your eCommerce looking for great deals on holiday gifts, they’ll be helped in other ways through your machine learning innovations.
Black Friday, Cyber Monday on Steroids by Datacrushers
Now that you’re ready for the holidays, make sure you’re ready to capture every sale you can and stop any abandonment before it happens. Datacrushers is a revenue discovery platform and global leader in site-wide revenue recovery and acceleration.
Disrupting the status-quo, Datacrushers is fundamentally changing the way online merchants use real shopper analytics to boost revenues and improve client lifetime value. Using machine learning and artificial intelligence, Datacrushers is a technology and platform agnostic tool designed for rapid go to market deployment across any language and currency. Datacrushers enables revenue growth by the use machine learning and artificial intelligence to mine real user, site and product data into actionable analytics to drive highly targeted and personalized multichannel campaigns both on and off-site.