AI and machine learning is quickly becoming a vital resource for growth across all business verticals by leveraging consumer data in the early stages of the new decade, and marketing is no exception. The explosion of ecommerce in the last few years has made the industry incredibly saturated and competitive, making it more important than ever for brands to find a way to get a leg up on their competition. Consumer attention is finite, and keeping their attention is even harder.
Attracting the right potential customers in today’s climate will take much more than the traditional marketing strategies of the past. The following will demonstrate the importance of implementing AI and machine learning (ML) into your marketing campaigns for ecommerce brands.
How AI and Machine Learning is Changing the Game
With so many options out there on the market, consumers are looking for brands that understand them and speak to them on a personal level. By using AI and ML, marketers are able to harvest and deploy existing user data to create personalized recommendations that cater to a consumer’s tendencies, likes, and behaviors. Marketers can program their algorithm to the type of customer they would like to target, thus giving the algorithm a direction for comparable user data to analyze and begin the process of curating a personalized experience by using predictive analytics.
For marketers, this process takes all of the guess work out of advertising, and puts their product in front of consumers that are most likely to purchase and interact with it.
Customer Retention Through Geo-Tracking
Getting a customer to your site is hard enough, keeping them there and bringing them back for more is even harder. Geo-tracking is another benefit of AI and ML that gives marketers more data points to expand their personalization efforts. AI and ML are able to dig deep into engagement patterns by location to make better content recommendations that lead to stronger customer retention in the long run. For example, for someone living in Colorado, content and product recommendations will be more likely to be centered around things like skiing, hiking, and mountain biking versus someone living in Texas. The more data points the algorithm is able to add, the higher chance the right interaction leads to more costumer retention.
Completing the Customer Journey
In order to know that your marketing efforts are effective, decision makers need to see results in the form of a completed customer journey from start to finish. No customer journey is complete without trust and respect. As data regulations increase, respecting customer consent across the journey is critical to a positive customer experience, having all your data together is necessary for that. Using AI and ML powered data orchestration tools businesses are able to provide a level of transparency with their consumers while also being able to create a customer experience that adheres to the comfort level of the user. Trust is a marketable quality for businesses, and most customers would happily support a brand that puts them first.
As more brands continue to tap into the potential that AI and ML has to offer, the more they will realize and reap the benefits of their enhanced marketing campaigns.
It’s clear that AI and machine powered solutions will be a mainstream fixture in the not so distant future, but for those who are ready to make a noticeable difference in their ecommerce business, it’s best to get ahead of the curve now.
(Elizabeth Gallagher is the Chief Revenue Officer at Lineate—an NY-based custom software development company and previously co-founder and CEO of the award-winning ed tech company, Pixeldream. The views expressed in this article are her own)