Most businesses focus on making a sale happen. They might be struggling to find the right marketing strategy that helps them boost sales and make profits. But the results obtained with these strategies are short lived. If you really wish to boost sales and maintain consistency in profits, then the focus should be on building a strong brand. And this starts with focusing on customer experience. Efficient customer engagement means better sales, bigger profits and most importantly, a loyal customer base. So where does an AI solutions company come into the picture?
AI Solutions – For Future-Proof Strategies
Among the many areas where AI or artificial intelligence is making a revolution, marketing is one. Even the big players invest in AI solutions for their marketing because it expands the ROI (return on investment). One of the major benefits of using AI solutions for marketing is that better customer engagement becomes a reality with them. Even if your business is not too advanced in the tech realm you can always work with a reliable AI Solutions Company to change your marketing game forever.
Ways in Which AI Enhances Customer Engagement
- Acquire New Customers With a Better Success Rate
The most difficult part in any business would be to get the relevant customers to actually notice your business. Machine learning and artificial intelligence play a critical role in helping customers understand your business and the products and services you offer. Visual search using images, voice search and more help customers understand whether you offer what they are looking for. With a strong machine learning algorithm you will be able to process the data you have about the targeted audience, analyze their preferences, do efficient keyword research and also come up with the right strategies to place your ads in their visibility. On the whole, AI becomes a valuable support in the stage of customer acquisition.
- Personalized Shopping Experience for Customer Retention
You might have a very competitive pricing strategy and the best mix of products, but so does your competitor and many others out there. Personalized shopping experience would be that one factor that makes your customers keep coming back to your store even in the growing market. With AI solutions it becomes possible to track customer behaviour as they browse through your catalogue. This is handy both in a physical store and with online shopping. So, you can gather data about what the customer likes and dislikes. And then once the customer purchases a product, the feedback system you build with the help of an AI platform will automatically gather valuable insights from the customer. This lets the customers know that you continuously strive to tune the experience to suit their tastes and this can be huge when it comes to customer retention.
- Address Cart Abandonment
Most businesses face the issue of customers eagerly browsing through items, adding them to their shopping cart and then not placing the order. Why did the customer not place the order? Was it because the customer could not find the products he was looking for? Or was it because the pricing was not as per his expectations? Analysing this situation will help businesses improve their pricing strategies, revamp their product catalog and actually establish an inventory of products that sell. AI solutions can be used to automatically get in touch with customers and get feedback about the reasons for cart abandonment and also about possible resolutions that the customer would like. This makes the customers feel valued and for the business, this helps in the long-term planning of products and pricing.
- Cross-Selling Becomes a Reality
AI and machine learning make it possible to process real-time data and make relevant decisions. Based on the kind of products or services you offer, you can create relevant patterns for the system to look for. Based on this, the system would be able to identify suitable products that will add more value to a customer’s past purchase. For an e-commerce site selling fashion merchandise, this could be recommending matching tops for a recently purchased pair of trousers. Customers are more likely to make a purchase if the recommendation they receive seems aligned with their tastes. Taking cues from the latest fashion trends and the customer’s past behavior, your AI-powered shopping recommendation system will make it possible to notify the customer about the relevant products to purchase next and also the suitable size and fit (as in the fashion retailer example). Cross-selling is one of the major sources of profits and this becomes easier with the help of artificial intelligence.
Besides this, one of the most common applications of artificial intelligence in customer engagement that most people know about is chatbots. Chatbots are everywhere now and they help in eliminating communication gaps between customers and the business. On the whole, to improve interactions with your customers, to reach out to new and relevant leads, and to maintain the existing customers happy, your business might find AI solutions to be valuable investments.