Magento Partners : How AI is changing eCommerce

Magento Partners : How AI is changing eCommerce

Magento has been a powerhouse in terms of getting innumerable eCommerce live and supporting them to build successful eCommerce brands. Magento powered eCommerce stores are one part of the $3.46 trillion sized eCommerce market. Consumers are increasingly moving to eCommerce as the sole medium for shopping – with around an estimated 2.05 billion digital buyers in 2020. To keep up with this staggering market demand, Magento partners need to be much more agile and provide the best experience to a shopper.     This agility and speed have become increasingly feasible as artificial intelligence becomes more closely tethered to both businesses and consumers in the eCommerce economy. With personalized marketing, chatbots, and voice-controlled assistants, consumers know what they want sooner, are able to inquire about products easier, and make their purchases faster. Backend businesses process and inventory management have also rocketed by the implementation of AI in cloud-based ERP systems and supply chain management software – staying prepared for customers day and night.   

Personalized Marketing

AI’s ability to digest and analyze consumer data has made personalized marketing campaigns incredibly sophisticated. By using AI, many Magento partners are able to deploy effective ad targeting, product recommendations, and even dynamic websites where web page content changes depending on a visitor’s purchase and browsing data. Consumers are bombarded with advertisements day in and day to the extent that they are desensitized to adverts. It’s essential that adverts are hyper-personalized and directly speak to a consumer, tackling the pain points. Otherwise, adverts will not have an effective RoI.   Leveraging AI to create personalized messaging is key here. For example, creating UAC ads or emailer content based on past purchase data of consumers and carrying relevant recommendations will be highly effective. Utilizing AI for this purpose will make sure that this can be done on the scale.   This approach feels more authentic to consumers and in turn, they are more likely to remain loyal to a certain brand. The use of AI in marketing is bringing customer’s better information and in turn, moving them through the sales funnel much faster for all Magento eCommerce stores. 

Effective Engagement

As marketing has become more sophisticated, so too have the buying habits of consumers. 81% of retail shoppers conduct online research before buying. Whether making a purchase in a physical store or online, it’s almost guaranteed that a responsible consumer will complete their due diligence before making a purchase.   For all Magento eCommerce stores, this means you should be providing the absolute best resources for your customers. If a consumer does the research on a competitor’s website rather than yours, it’s highly unlikely that they will be making the purchase from your website.   AI-powered chatbots for Magento partner websites can be the solution here. Chatbots assist customers by navigating the site, offering product recommendations, providing customer support, and even completing purchases. This will help consumers conduct their research, and give them confidence that assistance will be available when the need arises for customer support.    Another great resource to have connected to your Magento eCommerce platform is the ability to use voice-controlled assistants, like the Amazon Echo and Google Home Mini. If your product has the capability to be controlled by these tools through the Internet of Things (IoT), customers are likely to be influenced to purchase your product over others. This will provide a more personal experience for users and will soon be a customer expectation for any eCommerce site – Magento or not.

Backend business processes

While customer interactions continue to evolve as AI creeps into every shopping experience, AI in cloud-based ERP systems is reshaping Magento based eCommerce store behind the scenes.  It is making business processes faster, more accurate, and more connected than ever before. By centrally locating everything from ledgers, to logistics, Magento partners are able to utilize AI’s ability to do predictive analysis and make important business decisions based on their findings. An ERP system connects the stockroom clerk to the CFO and allows a business to act fluidly as new logistic obstacles arise. The system connects coworkers in real-time so that small problems can be solved quickly and not grow into bigger messes.    The ability to collect real-time data also helps Magento partners to make decisions based on insights from AI. That means as customers are buying products day and night through eCommerce sites, businesses can stay on top of the constant need to move those products around the world.   One has to wonder how soon AI will be deploying shipments based on predictive analysis of data gathered from past logistics? When considering AI’s role in eCommerce, it is hard to imagine how much further it will evolve. The opportunities are infinite, what is essential is keeping up with the advent of new technologies and making them part of your tech stack, as Magento partners so that you are always ahead of the curve.    UNBXD is a Magento Partner and works with many Magento powered stores to help improve their website search, recommendations, and browsing capabilities. UNBXD’s Product Information Management (PIM) systems also work in the background in automating backend business processes and inventory management. For more information, you can book a call with us here. 

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