To sign up for our daily email newsletter, CLICK HERE
Artificial intelligence is currently a hot and trending topic. For business owners, it helps with speed, provides a cost saving and even has the ability to increase sales in 2023 and beyond.
Bill Gates thinks that “tools like ChatGPT can free up time in workers’ lives by making employees more efficient” and for companies it is clear that the right solutions, an intelligent approach for adoption, and data management can help retailers to reap loads of AI benefits.
If you want to improve your conversion rates while saving time and money, integrating artificial intelligence in your workflow will be the key to scale your e-commerce business to new heights.
Artificial intelligence is a step up from mobile e-commerce applications. There are many tools that artificial intelligence can use to make online retailing more profitable and easier. If you own a Shopify e-commerce store for example, business owners can integrate chatbots for their customers to interact with and through pop ups on websites, which improves shopping experience. Over the last 5 years, there has been an influx of new tools that either help the business owner or customer to provide a benefit, and in this blog, we will be exploring some of the best tool options.
Here is a guide to help you improve your business processes.
Artificial Intelligence and E-commerce: Benefits
Artificial intelligence in e-commerce has a domino effect, whereby one benefit leads to the next. This is great for your store’s profitability and conversion.
Artificial intelligence applications and tools can be used to benefit e-commerce in many ways.
What can AI tools do for Ecommerce store owners?
Let’s examine how AI tools can improve the performance of your online store.
Artificial intelligence can boost the functionality of your store in several ways.
- Smart widgets improve customer interaction and user experience
- Visual search helps customers find products or products similar by taking pictures on their phone. The AI tool analyzes the color, texture and shape of the picture, as well as any additional details.
- Customers can virtually try on products – L’oreal’s Modiface, and Ikea allows users to see what furniture looks like in their homes, all powered through A.I. These are both great examples. Both are driving sales.
We have created a list of your online store’s 10 best artificial intelligence tools. Each of these tools has some amazing features that can take your e-commerce business to the next step.
ChatGPT has been dubbed the “new Google”. If you use ChatGPT it gives you straight-to-the-point answers and for business owners, you can use it to create anything from blogs for your website, email marketing newsletters and website design copy.
GPT is an AI that uses online data to learn. The only downfall of ChatGPT is that, at times the content can be general and ends up lacking the human feel of an original produced piece of content written by a copywriter.
ChatGPT can help streamline your business processes, give entrepreneurs guidance on SEO tips, marketing campaigns and can be used to create product descriptions, integrate into chatbots and create content for your websites.
Check out the full-length blog on What ChatGPT is and how to use it.
2. Seventh Sense
Seventh Sense, a software with artificial intelligence, can boost the performance of email marketing campaigns. It can also increase engagement on your ecommerce site.
AI email marketing can be beneficial in many ways. Artificial intelligence can help you break through the noise of email inboxes.
Seventh Sense is compatible with Hubspot, Marketo and provides the following features to help you achieve the best engagement:
- Send time optimization: This allows you to send emails at the optimal time for each individual.
- Email throttling speeds up email delivery
- Segmentation allows you to email customers according to their preferences.
These features result in happier customers, shorter sales cycles, and higher conversions. Pricing is different for Hubspot and Marketo.
- Hubspot: Business model $64-$80/month, enterprise model custom price
- For Marketo, $360-$450/month business model; custom price for Enterprise model
Granify is a machine-learning tool that allows ecommerce storeowners to optimize their revenue quickly and easily. It is a relatively simple process. Granify collects 500 behavioral data points every second as your customers interact with the ecommerce site. Granify compares this data with millions of other customer behavior patterns to calculate the conversion probability.
Granify will send the best possible message to your customers when it detects an opportunity for conversion, leading to an increase in revenue. Granify’s predictive analytics helps online store owners provide each customer with products that they want and need.
Contact them via the website’s contact form to get the price. The exact fee is not disclosed yet.
Jasper AI can help you streamline your eCommerce copywriting. Text walls can be tedious to read. It does, however, help to rank sites in search engines such as Google.
You can make long-form content more visually appealing and engaging with the help of Jasper AI. It can also increase the productivity of your content writers.
It has a great community of users who help each other out by providing their own guides. There are guides that show how to scale your blog content.
You can even create templates called “skills”. Use them to create Ads for Facebook, captions and cold emails.
You only need to enter your company name or product description, the tone you would like the copy to have, and a short description of the product.
Namogoo helps owners of ecommerce stores increase their revenue by identifying missed revenue opportunities using artificial intelligence. This is not only done on the website of your ecommerce shop, but also in your app.
It removes roadblocks and hesitations so your customers can easily and conveniently follow the path to checkout. It will boost your sales, and encourage your customers to make more purchases in your online store.
Namogoo is a digital platform that enables you to manage your coupons, price-checking extensions and other features. It also helps prevent your competitors from stealing your customers.
Namogoo offers flexible pricing plans for all types of businesses, from small to large. Contact them to determine which plan will work best for your online store.
PriSync allows ecommerce storeowners to find out their competitors’ pricing strategies and profit margins. This helps them boost their sales.
PriSync is highly efficient. You can set up and use PriSync in three easy steps:
- Add and define your products. Add them individually or all together. Add your competitors as well to your dashboard.
- You can check the changes in prices on your market by going to your dashboard after you’ve added your competitors and products. You can export past pricing trends to Excel and discover previous price trends.
- By being competitive and up-to-date, you can increase your market share.
PriSync offers a flexible pricing plan, proactive customer service, and accurate, up-to-date data. Pricing starts at $59 per month. The pricing is based on a three-tiered structure:
- Professional: $59/month
- Premium: $129/month plus API access (20% of the monthly fee).
- Platinum: $229/month plus API access (20% of the monthly fee).
- You can track over 5000 items with custom pricing.
Vidyo AI platform that helps you convert long-form podcasts and videos automatically into shorter shareable clips for TikTok, Instagram Reels, and YouTube Shorts. Users are consuming more and more video content online, and if you plan to target customers between the ages of 16-35, a video marketing strategy will be fundamental to your business’s success.
As a business owner, marketing, sharing your story, and reaching your target audience must be done consistently. Keeping your brand at the front of the minds of customers is critical to success, and with this easy-to-use video content production web app, you can do so. Check out Vidyo.AI here.
NeoWize uses an active and data-driven approach, which is why it continuously strives to create advanced active algorithms to take machine learning to a new level. It is also a leader in the e-commerce industry, using its technology capabilities such as machine learning, neural network, and adaptive input, to get the most from the data available.
It provides personalization for your store, as well as business intelligence and insights and analytics. Pricing is not disclosed but can be obtained by contacting them via their website.
Liveperson is an artificial intelligence tool that bridges the gap between your company and potential customers. This is a new initiative that uses AI to improve brand-to-customer conversations.
It is also incredibly easy for customers to purchase products using the messaging channels they are most comfortable with.
Pricing is not disclosed at this time. Liveperson has a number of products and tools, including Intent Managers, AI Annotators, Conversational AIs, Conversation Builders, Conversation Managers, Conversation Analytics, Conversation Orchestrators, Social messaging and many more. You can find out more on their website and ask for a demo and pricing.
Phrasee, an AI tool, is designed to help you with your e-commerce marketing. Automate your brand’s sound and standards. It allows you to optimize your brand’s language and create an incredibly personal and connected journey for your customers that will drive sales in your e-commerce shop.
Phrasee can help you personalize and optimize your brand’s language to increase brand awareness and social media following. It will also increase engagement because it will reach out to customers with personalized messages in real-time. This AI tool can also reduce your bounce rate by sending personalized messages to your customers at critical points in their customer journey.
Phrasee gives you access to tools such as the opportunity cost calculator and subject line analyzer. It also has some powerful features, like Phrasee Score and Phrasee Brain, that help e-commerce marketing automate language while taking advantage of AI-powered metrics for email marketing.
You can now automate critical parts of the customer journey online and scale content fast with various artificial intelligence tools amongst other cool things your business will need to grow.
In short, if you are not using AI as part of your business in 2023 – you are losing out big time. AI can truly support automating business processes, gaining insight through data analysis, and engaging with your customers. Small businesses must leverage the best technologies out their and as we have established above, some of these platforms are even free. Get using A.I today if you are not using it already. Leave a comment below, we would love to hear from you if there are any AI tools we may have left of our top 10 list.
About the Writer
Dominic Hay is a legal consultant, blogger, author, and digital marketer with over 5+ years of digital marketing experience. Join Dominic and thousands of monthly readers on Ambitiousinvestor.com to learn how to invest, manage your personal finances and start & scale your online business. He is passionate about leveraging the right strategic partnerships, software to scale growth, personal finance, and investing in stocks, crypto e-commerce, and real estate. You can connect with him on his platform, Ambitious Investor.