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Top 5 Smart E-commerce Technologies to Boost your Business Growth

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Technology has greatly contributed to the process of buying and selling goods online. E-commerce giants like Amazon have seen a significant boost in their customer base and revenue in recent times, thanks to the integration of smart technology within their platforms. Ever-increasing customer demands like faster deliveries, better communication and effective personalized product recommendations means that you need to rise above and beyond customer satisfaction to keep up with your competitors. Here is a roundup of the top 5 E-commerce technologies that will help your business stay relevant to the current tech scene.

  1. Artificial Intelligence for Customer Personalization
    Treating a customer as an individual asset through personalized experiences can improve their overall lifetime value and encourage them to keep visiting your business to meet their needs. Artificial Intelligence will help you understand a customers’ preference and predict their future behavior- by evaluating their purchase history and preferences. For example, a clothing brand may leverage their customer’s data about past purchases, browsing history and- to a certain extent- their social media activity to predict the type of clothing that will appeal to every individual customer. This enables them to deliver tailored content and optimized notifications to each consumer to give them a personalized brand experience.

  2. Smart Chatbots for Enhanced Customer Experience
    A survey by Accenture highlights that chatbots will enhance employee productivity by 61%, improve the ability to handle client queries by 60% and deliver personalized attention to clients/visitors to the website by 57%.

    AI powered smart chatbots can be incorporated in your website/ app to facilitate conversational sales. Chatbots can be customized to have the knowledge-base about products and services offered by your business. With this knowledge and built-in smart capabilities, AI-powered chatbots can help customers find specific products based on availability, attend to customer queries and provide round the clock service to enhance customer experience and boost your business profit.

    1. Mobile Application for your Business An Accenture survey revealed some interesting statistics:
    2. 82% of company executives think that enterprise mobile apps are an integral part of their organization.
    3. 81% believe mobile apps are key to unlocking vital data from across their business.
    4. 87% said there is a high demand among their customers for effective mobile apps that can help them access the company’s services.
    5. 85% of survey participants believe that a mobile app will be the dominant interface of the future

    Launching a mobile application for your business means that customers can have required information of your products and services at their fingertips. An app makes it more convenient for the customers to shop effortlessly and it helps you to effectively market current offers, promote ongoing sales, introduce new products, etc. It serves as a channel to encourage and enhance customer engagement.

  3. Omni Platform/Channel Presence

    An article by BusinessInsider reveals that 47% of shoppers who engage with brands on 10 or more channels will make purchases from their favorite companies at least once a week. This is in stark contrast to 21% of shoppers who just engage on up to four channels. Customers are now present on almost every online channel like Facebook, Instagram, Pinterest, Snapchat etc. An omnichannel business connecting all of these channels together create a seamless experience for the customer.

    In simple terms, this means that your customer could come across your product on Facebook, look it up on your business Mobile App on their smartphone, complete the payment process from their local desktop, and finally pick up the product in the store. The key to successful omnichannel presence is that there should be no disconnect across channels.

  4. Image Shopping
    Another e-commerce technology that is gaining traction is the ability to snap a picture and finding out relevant information. Take an example of the Pinterest App, which allows its users to click a photograph and obtain relevant information about the same. It provides users suggestions on relevant products, brands that sell the specific product, reviews and much more. This saves customers time compared to navigating on a browser and typing in search words. Using powerful image recognition technology, you can provide this functionality on your mobile app to your customers to let them find your products faster.

Channeling the customer – a Use Case

Let’s tie these 5 functionalities together in a use case. Imagine if a customer is browsing through various designs of eyeglasses on a channel like Instagram. He likes a design which is your product, and wants to buy it. So he clicks on the direct link to your mobile app to install it from the Google or Apple store. Once in the App, he proceeds to do a visual product search using the image on Instagram. He can be instantly shown the exact eyeglasses he is looking for. Additionally, your Mobile App can use AI to help him virtually try on the pair of glasses. He can then choose the right size and complete his purchase.

His demographics and preferences can be stored in the app and the next time he opens your mobile app, a smart chat bot can make relevant recommendations. This level of engagement and personalization will not only encourage customers to keep visiting your business but also add to your pool of loyal customers!

An integration of these smart e-commerce technologies can revolutionize the way you conduct your business. We at FargoWiz(fargowiz.com) can help you achieve this goal.

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