From dynamic pricing to personalised advertising, the accessibility of AI technology means that there is no excuse to publish vague ads with questionable relevance to members of your target audience.
That might sound like a bold claim, however, we’re sure that you don’t need us to tell you that AI is completely revolutionising the world of ecommerce at an incredible pace.
The reality is that consumers have adapted to this new age extraordinarily quickly. In fact, research tells us that more than 75% [1] of consumers feel actively frustrated when they are served product recommendations or ads that aren’t personalised to them and their needs.
The Importance of Personalisation in ECommerce Marketing
With increasing numbers of businesses now leveraging AI technology to personalise their marketing materials in order to deliver a more meaningful and memorable experience, neglecting to do the same could see you falling behind your competitors in what is a very challenging business environment.
While, yes, it is possible to personalise experiences to some degree without the use of AI via buyer personas, the modern consumer is discerning and is now pretty good at determining when they are being marketed to as part of a wider persona and not as an individual consumer. AI technology allows us to adopt a more granular approach to marketing, helping us to deep dive into the detail of consumer data in ways that just wouldn’t be possible manually.
So, how exactly can you start to incorporate AI into your marketing strategy? Here are a few suggestions from our digital marketing agency in Alderley Edge to consider.
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Individualised Product Recommendations
One of the simplest and potentially most powerful ways to leverage AI is through individualised product recommendations. Product recommendations are everywhere, from search results pages to websites and emails, so the opportunities here are huge.
AI can be used to understand the purchasing behaviours of individual consumers, allowing you to deliver highly relevant recommendations in real time. Netflix is just one example of a company that has nailed its recommendation strategy, using its own algorithms to analyse a customer’s viewing history and suggesting TV shows and movies to keep them engaged with the platform.
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Dynamic Pricing
While it is possible to adjust the prices of products manually, doing so is not the best use of any individual’s time. AI can be used to adjust prices automatically and in real time based on a variety of markers, such as seasonality, marketplace demand, manufacturing costs, and competitor pricing structures.
It is also possible to go a step further here and also provide individuals with discount codes based upon their user journey or behaviours. So, for example, if an individual has demonstrated an interest in a specific product on more than one occasion, the delivery of a discount code with a limited timeframe could be the factor that finally encourages them to purchase.
Amazon has had huge success with its automated dynamic pricing model and updates millions of prices across its product offering multiple times per day, which allows the ecommerce giant to consistently provide its customer base with highly competitive prices.
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Chatbots
In order to deliver a truly customised customer experience, you also need to consider how you can incorporate a personal touch into your customer service offering. The most intelligent AI powered chatbots not only understand the content of a customer’s query but can also identify the tone or the emotion within that content.
Chatbot technology has come a long way in a very short amount of time and is now able to provide personalised greetings, offer individual product recommendations, provide relevant special offers and discount codes, and support consumers as they make purchases online.
The Challenges of AI Personalisation
Not all AI technology is created equally, which is why the ultimate success of your AI driven strategy will depend on the quality of the data that is being used. While high level customer data can be helpful, the best insights can often only be uncovered from comprehensive data sets by experienced marketers.
Working with a Digital Marketing Agency in Hale
It isn’t easy to keep on top of new technologies, strategies and tactics, which is why partnering with a digital marketing agency in Alderley Edge and the surrounding areas can be beneficial for your business. With an experienced and qualified team on your side, you are in a much better position to remain adaptive and responsive to new opportunities, which could help you to set yourself apart from your biggest competitors for all the right reasons.
There are many challenges that come with the adoption of new technology, so it’s important that your chosen digital marketing agency in Hale understands how best to leverage the power of AI to benefit your business and push you further towards achieving your core business goals.
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