ECommerce posts

3 ways brands can use AI to transform the e-commerce shopping experience

The amount of behavioural and demographic data available for individual online shoppers has increased to staggering levels.

Coinciding with the increase in data, the use of artificial intelligence (AI) and machine learning techniques has become more mainstream as businesses discover the value of insights gained by these advanced techniques. With more data available than ever before, retail marketers have been given the opportunity to harness this data using machine learning algorithms that describe and predict shopper behaviour in real time.

These insights can be used to drive both automated email campaigns and interactive website experiences that are relevant and personalised, leading to the creation and conversion of lifelong customers that drive increased value. Thanks to AI-driven campaigns, marketers are no longer required to manually sort through massive amounts of data in order to discover behaviours and send personalised messaging that increase shopper loyalty.

Retailers who successfully scale and automate AI-driven experiences for their customers are already seeing significant results, including higher overall revenue and higher customer lifetime value.

These brands have been able to leverage a customer’s real-time online and offline transactional and behavioural data to automate individually personalised email campaigns that increase overall order values.

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Here are three ways brands can use AI-driven campaigns to aid in personalising email and web marketing efforts:

Using ‘abandonment causality’ campaigns with customer service

By harnessing customer data, Value City Furniture is able to recognise when customers abandon items in their cart or leave before completing their checkout, which happens for a number of reasons.

To combat these types of abandonment, they send personalised email messaging to assist the shopper with the reason they left the site, whether it be shipping costs or a broken promotional code.

Using “mirroring” campaigns online and in-store

After consumers interact with your brand either online or in-store, retailers should personalise future interactions across all channels.
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Brands can essentially “mirror” a shopper’s preferences and interests both on the website and inside the physical location of the store.

Using ‘model based’ campaigns to identify propensity to purchase and disengaging customers

When a customer returns to a retailer after previously interacting with specific brands or purchasing from the site, retailers can use machine learning algorithms to understand the shoppers habits and target them based on prior interactions.

For example, if a shopper normally makes their purchase one week after adding items to their cart, retailers should not send a discount to compel them to buy since their predicted propensity to purchase is high.

Veltrod is specialized in providing Artificial Intelligence based solutions for an ecommerce spectrum. Write to sales@veltrod.in for free consultation and quotes for business needs.

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How natural language processing and machine learning are changing eCommerce

For the average online shopper, it’s easy not to notice how much ecommerce has evolved over the years, or how that evolution is continually gathering pace. We can all appreciate that online shopping is a far less frustrating experience than it was just a few years ago, but for the majority of shoppers, the technological changes that are taking place behind the scenes are invisible. The adoption of natural language processing (NLP) and machine learning technologies is one of the key drivers of change in ecommerce today, and the impact that these technologies are having on customer experience is both far-reaching and powerful. In this article, we examine some of the key ways that NLP and machine learning are being used within ecommerce, to drive increased sales and improved conversion rates.

Smart on-site search

Online shopping is now part and parcel of everyone’s life, and something we have quickly come to take for granted. Alongside the rapid adoption of ecommerce, the growth of smartphone usage has been exponential, with more than two-thirds of the UK population now owning a smartphone. As mobile devices overtake laptops as the preferred device for accessing the Internet, it’s vital that ecommerce sites adapt, to satisfy the needs of time-pressed consumers who want to shop from their phones or tablets. This has pushed on-site search to the forefront of retailers’ attention, as search has become the main navigation tool for many online shoppers, replacing cumbersome menu-driven navigation structures.

Historically, on-site search has focussed on keyword matching. This has often produced results that were less than optimal, with seemingly random results generated for more descriptive queries, or even no results at all. That’s all changing though, as ecommerce retailers look to NLP-driven site search engines to power their on-site search. NLP search is a game-changer in ecommerce, because it has the capability to base results on semantics, rather than keywords, which produces more relevant results. This smart, meaning-based approach to search is coupled with machine learning abilities, to create an engine that becomes smarter over time, learning more and more about query intent, concept extraction and shopper behaviour. The data mined from an NLP search engine is ploughed back into the system to improve future search performance, but it can also be used in other areas of ecommerce operations, to drive additional benefits.

Product recommendations

Product recommendations represent a very important part of an ecommerce store today, particularly for merchants with larger catalogs. Product recommendation blocks are used across all page templates, primarily for up-selling and cross-selling.

The immediate benefits of smarter product recommendations is improved customer satisfaction and improved average order value and conversion rates, which leads to increased sales. The data derived from product recommendations has huge value too. By analysing customer behaviour on a store, understanding much more about shopper intent, and looking at aggregate data for products viewed and similar customers, it is possible to present a highly personalised experience to each individual shopper.

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As an example, if a customer searches a fashion website for ‘red dresses’, machine learning technology could enable the store to dynamically recommend highly targeted products to that customer, such as red shoes or a matching bag, even if the recommended products don’t actually contain the keyword ‘red’. This extraction of meaning and context means that the needs and desires of customers can be interpreted in more detail and more accurately than ever before.

Veltrod is specialized in providing Artificial Intelligence based solutions for an ecommerce spectrum. Write to sales@veltrod.in for free consultation and quotes for business needs.

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Chatbots in Ecommerce – All You Need to Know

A chatbot is a software designed to simulate human conversation for different purposes and applications. There are two different types of Chatbots:

  1. ones based on pre-written scripts, functioning on a set of rules
  2. ones that use machine learning (AI-artificial intelligence) – The latter ones mimic human conversation and are constantly getting smarter and learning new things from the interaction. Bots make it possible for your brand to be more personal, proactive, and more streamlined.

The possibilities for chatbots usage are widespread. From advertising, virtual assistance, education, entertainment to the customer service/support and product ordering. Nowadays, chatbots have become so advanced they can even take care of food delivery, purchasing tickets, ordering Uber, scheduling appointments, money transactions or paying bills.

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In e-commerce, chatbots can be very helpful on multiple levels and provide a complete shopping service. You can use them for accurate and quick product search. They can simultaneously handle more product orders from multiple customers, therefore speed up the ordering and shipping process. In addition, you can even pay your purchased products directly via chatbot so your customers have a complete and integrated shopping experience.

HOW MUCH TIME IS REQUIRED FOR CHATBOT MAINTENANCE AND CONTROL?

Chatbots maintenance and oversight depend on their type. Scripted ones correspond to predetermined answers only, and they are easy and simple to maintain. They don’t need a large amount of control and oversight.

Such bots can independently perform their tasks and communicate with customers, but still, they can run into a problem while conversing. For every query or problem which can’t be resolved solely by the chatbot, there’s an option to use specialized tools like email, help desk software or push notifications. If that’s the case, community managers kick in and take over the communication.

Veltrod is specialized in providing Artificial Intelligence based solutions for an ecommerce spectrum. Write to sales@veltrod.in for free consultation and quotes for business needs.

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Future-proof Your Ecommerce Marketplace: Applications of Machine Learning

Anyone can start an e-commerce marketplace and let vendors list their products, but what after that? However, as the technology is moving, a product or a service popular today can easily become redundant in the near future. Why will people want to come to your e-commerce marketplace year after year? The job of an e-commerce marketplace owner does not stop after seeing few products getting sold.
To ensure a steady supply of buyers, you need to future-proof your marketplace because if you do not, your competitors will overrun your business and you will not be able to satisfy the growing demands of experience-hungry buyers.

To keep your ecommerce marketplace advancing with changing times, it is recommended for you to know about cutting-edge technologies like machine learning. This post talks about several areas where machine learning can help in redefining future of ecommerce sector.

Smart Recommendations

Small and big e-commerce portals alike are already using product recommendations based on search and buying history. Amazon and Google are pushing the limits of machine learning to recommend the most relevant products, which is personalized for each user.

The personalized recommendations are made on the basis of data collected on each customer. Needless to say that using such technology requires superior data collection techniques.

Better Customer Segmentation

Creating customer segments is essential to maximize the reach of your ecommerce store. Customer segmentation analysis, in most cases, is based on age, gender, demographics and more but, it is important to consider various other indicators as well. Machine learning can help e-commerce marketplaces to uncover new customer segments with similar behavior.

When new patterns are discovered among customers or potential customers, you will run your e-commerce marketplace in a more profitable way. Machine learning based customer segmentation adds value to the marketing effort as implementing such complex models is not possible without the help of fast and efficient algorithms.

Real-time Solution to Customer Queries

Answering queries of buyers and sellers in real-time requires an e-commerce marketplace to hire a team that can provide support around the clock. Machine learning based solutions, such as chatbots, can prove to be a good return on investment as they can answer the questions of buyers and sellers instantly.

By integrating this solution with marketplace’s knowledge base, chatbots can instantly answer questions like the status of delivery and refund. Examples of machine learning driven smart assistants include Apple’s Siri, Google Assistant, and Amazon Echo.

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Fraud Pattern Analysis

E-commerce marketplaces get spam orders across the board and are prone to online frauds. No technology is completely secure and this is why it is important to take preventive measures. Machine learning technique can be used to fight online fraud.

With machine learning, the algorithms can learn from the knowledge base as well as observe patterns to figure out the probability of fraud. Since machine learning involves constant learning, the algorithms can be programmed to optimize its accuracy.

Customer Churn Predictions

Most e-commerce marketplaces spend a lot of money on acquiring new customers, but they fail to understand that retaining old customers can be highly profitable and economical. Excessive churn rate can make an owner take drastic steps that can prove catastrophic for the health of the marketplace.

Traditionally, all one can do to lower the churn rate is to initiate different marketing campaigns, establish the reasons behind high churn rate and tackle them accordingly. Whereas machine learning can be used handle problem of higher churn rate with performance comparison, testing different algorithms, and more.

Demand Estimation

Why spend hours in reviewing monthly, quarterly and yearly sales to estimate the growing demand? Getting the right demand estimates is vital for an e-commerce business as it is important to know if your marketplace has limited stock or in bulk. In both cases, the owner suffers a financial loss.

Demand and supply go hand in hand, but foreseeing the growing demand can only be done with machine learning algorithms. Not just demand, machine learning can be used for delivery route optimization, orders grouping, warehouse space optimization, and more.

Veltrod is specialized in providing deep learning solutions across the domain. Write to sales@veltrod.in for free consultation and quotes for business needs.

5 Ways to Enhance and Gain Customer Experience

It would be great to hear that some eCommerce companies are taking care about the important of customer experience and thinks to improve it. When it comes to bad customer experiences, I have heard many excuses from online merchants.

Even, some companies don’t care about their customers; they just want to earn handsome money in the form of profit. But those companies, who really have care for their customers and want to enhance customer experience, then here we have five different ways. Just check out.

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Solve Problem Before It Becomes a Big Issue

At the time of manufacturing products, we are always looking for creating remarkable customer experiences and happiness. One of the best ways to deliver a great happiness to your customers is to fix problem before it becomes the big issue.

If you are not able to solve problem fully, at least deliver seamless customer experience while they are shopping from your eCommerce site. Apart from, you can also sketch plan your customer outreach and customize it.

Customize Your Packaging: Wrapping products with unique and customize packaging delivers excellent impact to your customer experience. There are many pizza shops packing their pizzas in attractive boxes with a personalized message. It is advisable to give a receipt along with a physical product with packaging. After that, send them a message and request for message or advised for your business. This thing especially works at the time of trail phase. Create your time to connect with your customers on personal level. Offer some trial products for free of cost or with discounted rates.

Make Investment for Tomorrow: No matter, you have employee from 5 days or 5 years, it is must to make aware them about your customers as it is one of the most important factors in your business. Apart from customers, you should make them aware of tools for listening customers and allows them to use to enhance your business’s popularity. Taking help of social media sites is one of the best ways to engage your customers and build your business’s brand. Give a lesson of social media to your employees as they are not aware of your strategy. Ensure to teach your employees to step ahead of your tools, if you want to enhance customer experience and business as well.

Always Appreciate and Say “Thanks”: If you want to deliver a great customer experience to your shoppers, it is must to lead through some examples. Stop saying ‘thank you’ to your employees to make stronger behaviors you are promoting. No matter, it is verbal recognition of a job in the meeting or a larger employee appreciation gesture, it doesn’t appropriate to charge creating a culture of gratitude among your team. Human mentality is that when they are happy with their work then always keeps a positive attitude among their customers.

Veltrod is specialized in providing e-commerce solutions and mobile applications. Write to sales@veltrod.in for free consultation and quotes for business needs.

Reasons to have more speed on Mobile Web Sites

Speed is the biggest thing mobile sites need and the one thing that many are lacking.In August 2013, Google launched a new set of guidelines so that webmasters could optimize their pages for better rendering performance. The goal of these guidelines is to get all content to load in one second or less.

Of course, this loaded content will at first just include the above-the-fold content, which is any content that is immediately visible on the screen without requiring the user to scroll up or down. While this above-the-fold content loads in one second or less, the rest of the content, graphics, etc. will load on the page (also in a matter of seconds).

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Why the Need for Speed?

So why is all of this so important? According to an article by Marketing Week, in the United Kingdom alone, 30 percent of the population uses a tablet. In addition, more than 60 percent use a smartphone. The same can be said for the other side of the pond, with one-third of Americans using a tablet and more than 50 percent use a smartphone. To put it in a global perspective, 1.5 billion people use smartphones. That’s a lot of people online ready to surf the Internet, check email, post on social networking sites, etc.

A slow-to-load site, meaning anything that takes more than 4 seconds to load, loses 25% of its visitors in those four seconds if the page hasn’t loaded. At 10 seconds the percentage gets closer to 50%. Pages that are slow to load, crash, have formatting errors, feature non-functioning elements, or are unavailable for whatever reason are all reasons that a mobile Internet user will abandon his or her efforts, but nothing affects this more than speed.

The Benefits of Faster Loads: It is the hope of those who build mobile sites with speed that will make conversions happen as frequently as they do on desktops. As it stands, conversions on mobile sites happen about a third as frequently as they do on desktop sites.

Speed it up: The numbers speak for themselves. Mobile users want speed and they’re not going to sit around and wait for it.

Veltrod is specialized in providing e-commerce solutions and mobile applications. Write to sales@veltrod.in for free consultation and quotes for business needs.

Best Ways to Build and Gain Customer Loyalty

Having loyal customers is must for enhancing business growth. Creating effective and better customer loyalty requires crafting greater customer experience with combination of emotional, physical and transactional value of customers. There are many businesses working in commodities.

Considering specific type of products/services according to customer’s view point is less unique than you are looking so. Right now, customers are showered with uncountable number of options and continuously grabbed by competitors to save and switch. To deal with such situation, it is necessary to work on customer loyalty by considering following tips.

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Be Personal: Your customers are humans and thus, they are expecting a human interaction rather than a generic one. It would be great to send personal birthday or anniversary wish message instead of holiday sales offers. No doubt, customers are appreciating the value of your discount offers, but emotional bonds helps to create customer loyalty.

Think Like Their Mentality: Understanding your customers in better ways helps you to interact with your customers in the most excellent ways. You can also understand how they are feeling or what they are thinking while making purchase or sending enquiries. You can also put your service to check or enhance your process.

Maintain Your Personality: At the time of customer choosing your person to interact at your company, be up-to date with information and their queries. No matter, they are having queries while online transaction or finding any products.

Greet Perfectly: According to the Psychological studies, it is noted that customers remember the first and last minutes of a service for longer time than the rest conversation. So, it is must to have well-engineered customer interactions as it is going to stick in the customer’s memory.

Accelerate Your Service: Nowadays, people are looking for speedier service than they have before few years. So, delivering their order on expected time creates good reputation of your eCommerce store and also builds customer loyalty.

Create a loyalty scheme: Creating a loyalty scheme is one of the most effective ways to encourage your customer to get back to you. For example, you can give loyalty card as a reward to your customers with a free drink. If you are offering rewards for your purchase, your customers can get an incentive to return to you.

Ask for feedback: Receiving feedbacks from your customers helps you to know whether they are happy or not with your service. Read all the feedbacks and overcome from the bad points to make your shoppers happy.

Create a customer-service vocabulary: In the time of inconvenience, it is must to convince your customers with positive words like ‘No worries’, ‘we are here to help you’ and rehearse to tell them. You can express your help through such words and solve problem as soon as possible.

Veltrod is specialized in providing e-commerce solutions and mobile applications. Write to sales@veltrod.in for free consultation and quotes for business needs.

Great Ecommerce Guide For Online Entrepreneurs

Like, with any business, you have to start your online business by putting an excellent product and implementing a solid marketing plan. In this complete ecommerce business guide, we help every business owners to start or expand their online business without need of internet expertise or expensive funding.  

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Build Online Business Identity: Presently, one of the successful strategies for a successful business is having a strong business identity and thus, one should have to adopt some tips to become superior to their competitors and impress more customers to increase revenue.

Online Presence: If you want to become popular among your competitors, you need to maintain strong online presence. Having strong presence allows people to find out you easily and this will increase in chances of people to find your services/products easily. One can use their own website, social media profiles, blog, etc. to promote their service and increase online business.

Brand Recognition: Brand defines who you are, what you are and what you are selling to you customers. Showing your brand online recognizes your business along with separates you from your rivals.

Social Networking: Nowadays, social networking sites play an important role to reach out to more people and companies online. So, it is must to have accounts or pages in various social networking sites like Twitter, Facebook, LinkedIn, and so on to draw attention of people. Have strong presence gained from social networking sites helps to improve online identity of your business. As the more people come to know about your service, it enhances more change of boosting business revenue.

Online Reviews: It’s true that your business’s creditability spreads through word of mouth through customer’s review. This can be in the form of written reviews that people wrote after using your products/services on their own site. No matter, what ways people are writing reviews on your sites or regarding your products, you have to ensure that no one review should be negative. To avoid such kind of situation, you have to set up a ‘Contact’ page, where your customer should ask you for help or discuss their queries.

 Get More Clients Online : While starting up your business, one can require more clients and money as well. No matter, what type of your business is, whether it is big or small, having clients increase revenue and make your business more successful. If you are seeking ways to make your business successful, here are some tips to get more clients.

Create a Referral System: One of the greatest ways to get more eye-balls towards your business is through referrals. You can also share your words with others and recommends them to use your service. Referral is a reward based programs, where customers recommends their near and dear and you will compensate them as a reward in the form of discount or any other things.

Create a Affiliate program: Adopting affiliate programs helps you get access to more clients within stipulated time-frame. Such type of program promotes you in exchange of a commission. This method is extremely very effective in the long run, but makes your affiliates aware about your products and services.

Offer multiple choices: While anyone comes to your site for making purchase, they always are expecting enough help in finding products/services from your side. Moreover, you have to reassure your visitors that they are at place and get proper service with so many options at different cost. This will help you to engage them for long time and thus, increase in sales.

Know your Target Market: Research and find out where your clients are going to learn and grow their business as you require going to there too. If your ideal customers/clients are developers, you have to go to development oriented events, meet-up groups and conference. Same way, if your ideal clients are beauticians, you need to go to beauty events, etc.

Use Social media: Social media is one of the strongest and longest marketing strategies to bring more customers at your place. There are many people follows you on Twitter or make you friend on Facebook and before they decide finally they hire you according to their requirements. It would be great to make conversation through social sites and solve your customer’s queries.

Veltrod is specialized in providing e-commerce solutions and mobile applications. Write to sales@veltrod.in for free consultation and quotes for business needs.

Ways To Expand the Ecommerce Business without the help of New Users

Are you running an e-commerce business and wanted to grow it by pace? If yes, getting new customers is not enough as there are lots of e-commerce retailers, who think that by getting new customers they can expand their e-commerce business worldwide, but they are living in myth. Across the world, you would find lots of e-commerce professionals, who are spending their hours, weeks and months on figuring out how to get new and more customers. If you are also one of those businessmen, who are trying to get new customers, my question is for them.

It’s your present customers, who already purchased your products from your website. The ones who are raising their hands to purchase your products from their hard earned money.

According to latest research that proves it – A Bain & Company report tells that getting new customers cost 6 times higher than retaining an existing one. And businesses who improved their customers’ maintenance rates by 5% saw boosts in their profit from 5% to 95%.

Turning your existing customers into repeating customers is one of the best and excellent ways to make grow your business. So, instead of trying to get new customers, you can manage your old ones. Moreover, return customers also tend to purchase more from company; however, if they do, the operating cost to serve them decreases.

If you want to help your accessible customers to purchase more, then below mentioned three strategies can help you out:

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Understand Your Customers’ Requirements

First and foremost important thing that you can do is understand your customers’ requirements. If you understand that what they wanted to purchase and needs, you can serve them in a better manner and make them happy. Today, you can find lots of e-commerce websites that understand their customers’ needs and offer them such products that they are looking to purchase. It is also highly essential to know that what your customers want and be able to provide them what they are looking for. If your customer has already purchased any product from your site, you can send an email suggesting him/her more products from the same category.

Offer Customer Support Every Time: Second most essential strategy is to provide your customers a complete support every time. No matter, whether they are asking for help for how many times, you should always provide support to your customers. You know that if you serve excellent customer support, above and beyond is the norm. It is not possible to develop a family of loyal customers without an exceptional customer support, so e-commerce retailers should provide a great customer support to their customers.

Recompense Your Customers: According to 2012 survey that performed by ClickFox, 54% of consumers would think that boosting the amount of business they do with a company for a loyalty reward, and more than 46% said that they already have. When it comes to highly effective loyalty programs, grocery store memberships, and frequent flyer programs, credit card rewards and many more are some best recompense thing for your customers. There are numerous small businesses, which are generating huge revenue by providing their customers loyalty rewards. If you reward your customers, it can result in 178% more repeat business than unstamped ones. The customers, who are with the pre-stamped cards, started with progress and the purchase was maximize. It is one such strategy that is also known as artificial advancement.

Veltrod is specialized in providing e-commerce solutions and mobile applications. Write to sales@veltrod.in for free consultation and quotes for business needs.

Things That Everyone Should Consider before Opening a Ecommerce Startup

So, you’ve decided to convert your brick and mortar shop into an online store so that you can sell your range of products worldwide. Or maybe you are starting from scratch and your e-store is the first venture in retail. But what’s next?

What you are going to do next? Are you completely relying on your e-commerce developer, who will develop an e-store the way you want? It doesn’t matter whether you are converting your brick and mortar store into e-store or starting from scratch, there are lots of things that you should consider before you open your e-commerce website.

If you have decided to begin with developing an e-commerce store, you should consider below mentioned 5 things before you open your e-store:

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Understand Your Business Goal: Before you open your e-commerce website, it is extremely important for you that you have a clear understanding of your business goal. If you have a clear understanding of your business goal, it will be easy for you to target particular market. You can also capture global markets with the help of an up and running e-commerce site. With your business goal in mind, you can target particular customers for selling your products. However, you are also segment customers, who are based on their demographics like shopping habits, likes, digital footprint, dislikes, spending power and more. So, if you want to target particular customers and market, you should first understand your business goal.

Know Your Project Needs: After understanding your business goal, it’s time to address your project requirements. In the development phase, it is essential to determine what exactly needs to be done. To know your project requirements, there are lots of things that you need to be done like what type of features and functionalities you wanted to be implemented in your e-store, what about third-party integrations, what customizations are needed and which are the responsibilities of your internal project team. By considering these different things in mind, it will be easy for you to know your project needs before you open your e-commerce site.

Try to Beat Your Competitors: If you have decided to begin with e-commerce store, it is crucial that you offer something very unique and exclusive products on your site so that customers find it attractive and compel to purchase it. Try to offer dynamic products as compare to your competitors otherwise visitors will not find your products as striking as your competitors offer. However, you can know which technology your competitors are using so that you can also include it on your site. By offering something exceptional on your site, you can beat your competitors and give strong competition to them.

Know Your Resources: Before you open an e-commerce website, you need to know your resources that will help you to set-up your store and make it successful. Whether you want to hire an e-commerce developer to manage your most of the website work or not, you need to consider your all resources as it will be helpful for you to make your project successful. However, you will also need to have the human resources to update your site on regular basis. If you are also including a blog on your site, it is recommended to you to go with WordPress.

Be Careful to Put Your Ideas on E-commerce Platform: We all know that there are numerous options for developing a high-end e-commerce store. Before you need to hire legion of developers in order to handle your project and develop an effective e-store, but now it is extremely easy for you to develop your store by your own. However, it is also true that deciding about how to go is one of the biggest problems that you are facing. OSCommerce, Magento, Shopify and many more are different e-commerce platforms that allow you to develop a perfect e-commerce site. You can choose a perfect platform for your e-commerce site and carefully put your ideas in it to make it fully-functional e-commerce site.

Veltrod is specialized in providing e-commerce solutions and mobile applications. Write to sales@veltrod.in for free consultation and quotes for business needs.

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