How do eCommerce enterprises earn loyalty from their users? And, notably, one of the most popular means to delight eCommerce users is personalization. However, for eCommerce enterprises, personalization has been largely limited to their websites. Moreover, website personalization itself is mostly segment-based and not implemented at a 1:1 scale. To achieve remarkable customer loyalty and engagement rates, it is imperative for eCommerce brands to provide a highly personalized experience to users across all touchpoints.
Not only are online retailers competing with other online stores and brick-and-mortar locations, but also the overall noise that is the Internet. We live in a world where consumer attention span is getting shorter and shorter: 40 percent of people abandon a website that takes more than three seconds to load, and the average shopping cart is abandoned more than 68 percent of the time. I'm hard pressed to find an ecommerce site that is not constantly scrambling to engage more and drive more sales. Technology is finally helping with those efforts in a big way. Artificial intelligence (AI), which has demonstrated its value in industries like marketing, healthcare and finance, is now making a splash in online commerce.
Then came eBay and Amazon in 1995....... Amazon started as bookstore and eBay as marketplace for sale of goods. Since then, as Digital tsunami flooded, there are tons of websites selling everything on web but these two are still going great because of their product recommendations. We as customers, love that personal touch and feeling special, whether it's being greeted by name when we walk into the store, a shop owner remembering our birthday, helping us personally to bays where products are kept, or being able to customize a website to our needs. It can make us feel like we are single most important customer. But in an online world, there is no Bob or Sandra to guide you through the product you may like.
E-commerce remains a highly competitive field, but don't fret, you can make it big amongst the giants thanks to artificial intelligence and machine-learning tools. Artificial intelligence and machine learning have far surpassed the "eye roll" reaction they once sparked… They have become essential tools for many large e-commerce brands to operate at such scale -- and both, while also becoming more advanced, are increasing in prominence with each year that goes by (in a multitude of sectors). The marketing revolution is here, and CMOs can't escape it. From operational optimization to marketing, personalization and enhanced search…right through to automated inventory planning and dynamic pricing -- AI is shaping the future of shopping, at pace. Is your e-commerce brand ahead of the curve, or rapidly falling behind the times?
Consumers are flooded with a number of options for every basic need. Which means that connecting with your target audience can become extremely challenging. An effective way of grabbing their attention is to customize your marketing efforts. Your website is one of the most powerful marketing tools your brand has. It is not just a channel to showcase important information about your products or services. It can help you build brand awareness and credibility.