Artificial intelligence (AI) mimics the cognitive functions of the human mind, especially in learning and problem solving. Most of the apps we use today are powered by AI. From voice-activated virtual assistants to e-commerce, AI applications are everywhere.
With the advancement of AI technology and access to big data, companies from different industries are integrating AI into their processes to find solutions to complex business problems.
The application of AI is most visible in the retail and e-commerce space. Websites and apps can intelligently interact with customers, creating a personalized approach that improves the customer experience.
No matter what industry your business operates in, these seven tips can help you acquire and retain customers more effectively in a fraction of the time it takes to do things manually.
How to use AI to get and retain customers
1. Identify the gaps in your content marketing strategy
If you’re new to content marketing, you need to know what kind of content to create.
Using AI, you can identify gaps, find fixes, and assess the performance of your content marketing campaign.
Take Packlane, a company specializing in custom packaging design, for example. They came with high quality content like useful blog posts that provide valuable information. At the same time, the content they publish allows their target market to better understand their brand and services.
If you’re in the retail business or ecommerce business, you can use AI to identify gaps in your content marketing. Your content may be focused on your products and their functionality, but with AI, you can determine relevant content that meets the needs and issues of your audience.
2. Pre-qualify prospects and prospects
Not all visitors to your site will become paying customers. If you are not getting sales despite the massive traffic, it means you are generating low quality leads.
Here are a few reasons why this happens:
- Target the wrong audience
- Bad content marketing strategy
- Using the wrong type of registration form
- Promote on the wrong social media platforms
- Ineffective calls to action
These explain why 80% of new leads never turn into sales. Errors can be corrected using artificial intelligence.
AI tools can extract relevant data to help you learn more about your target audience. These tools also provide predictive analytics on the behavior of your customers. They in turn help improve your lead generation strategy, because you’ll know which leads to pursue, where to find them, and how to engage them effectively.
3. Provide personal recommendations
According to a Harvard Business Review reportEven though there are privacy concerns when consumers’ personal information changes hands, people still appreciate personalized marketing experiences.
Brands that adapt their recommendations based on consumer data increase their sales by 10% on brands that don’t.
The algorithms of recommendation systems are usually based on data on browsing history, pages visited and previous purchases. But AI is so advanced that it can analyze customer interactions with site content and find relevant products that will be of interest to the individual customer. In this way, AI makes it easier to target potential customers and effectively puts the best products in front of site visitors.
Thanks to AI, recommendation engines are able to filter and personalize product recommendations based on each customer’s preferences. It is a cycle of collecting, storing, analyzing and filtering available data until it matches customer preferences.
It’s an effective way to acquire and retain customers because there is an element of personalization.
4. Reduce cart abandonment
A high cart abandonment rate is the bane of ecommerce business owners. According to a study by the Baymard Institute, online the cart abandonment rate is close to 70%.
Users abandon their online shopping carts for a variety of reasons:
- high additional fees
- complicated payment process
- confidentiality issues
- not enough payment methods, or
- they are not yet ready to buy.
Using AI-powered chatbots is one way to reduce cart abandonment. AI chatbots can guide customers through their buying journey.
AI chatbots can take a conversational approach and give the customer a nudge to get them to complete the purchase. These chatbots can also serve as a virtual shopping assistant or concierge who can notify a customer of an onsite discount, urgent offer, free shipping coupon, or any other incentive that will encourage them to finalize the payment. .
With AI, orders lost due to cart abandonment are recoverable and can lead to increased conversion rate for ecommerce businesses.
5. Increase buybacks with predictive analytics
Predictive analytics is the process of making predictions based on historical data using data mining, statistical modeling, artificial intelligence, machine learning, and other techniques. It can generate information, forecast trends, and predict behaviors based on past and current data.
In marketing, predictive analytics can be used to predict the propensity of customers to repurchase products as well as its frequency. When used to optimize marketing campaigns, AI-powered predictive analytics can drive customer response, increase purchases, and promote cross-selling of relevant products.
It’s all part of the hyper-personalized marketing approach, where brands interact and engage with customers and enhance their experience by anticipating their needs and exceeding their expectations.
With predictive analytics, you can focus your marketing resources on customer retention and target a highly motivated segment of your market that is more than happy to come back and repurchase your products. This approach is less expensive than advertising or implementing pay-per-click campaigns.
6. Improve the user experience of your website
Every business, big or small, knows the importance of having a website, where visitors can interact with the brand, respond to a call to action, or purchase products. But it’s not enough to have an online presence; it is important that site visitors have a great experience while browsing your site.
What makes a great user experience? Users have different expectations. Some of them want a faster load time, while others want a simple and intuitive interface. But the most important thing is that they want to find what they are looking for. It could be a product, content, or a solution to a problem. Whoever they are, it’s up to you to meet their expectations.
With artificial intelligence, you can increase the user experience of your website tenfold. Here are some of the ways AI can be used to improve the user experience.
This concerns the accuracy of the search results relative to the search query. The more relevant the results, the better the search experience for users. This means that they are likely to find relevant content answering their questions or finding products that solve their problems.
Content that is tailored for the user tends to have greater engagement, which increases the likelihood of a conversation. Amazon perfected the product recommendation system using advanced AI and machine learning. AI obtains data from customers and uses it to gain insight and apply predictive analytics to recommend relevant products for cross-selling opportunities.
The presence of chatbots contributes to a great user experience as they provide 24/7 assistance and support in the absence of human customer service. Users can get precise answers to their inquiries quickly and efficiently, compared to scrolling through a text-based FAQ.
7. Social listening for potential customers
Social listening is the process of analyzing the conversations, trends and buzz surrounding your brand on different social media platforms. This is the next step in monitoring and tracking social media mentions of your brand and products, hashtags, industry trends, as well as your competition.
Social listening analyzes what is behind the metrics and numbers. It determines social media sentiment about your brand and everything related to it. It helps you understand what people think about your brand. All the data and information you get from social listening can be used to guide you in your strategy to gain new customers.
Monitoring and listening to social media can be done much more effectively with the help of artificial intelligence. It’s a huge task for a team of humans to monitor and analyze the data, but with AI-powered social media tools, all the tedious tasks can be automated. They can be trained to leverage data to deliver valuable information about your brand with great precision.
With AI and machine learning, your social listening can easily determine your audience, brand sentiment, buying behavior, and other important information. By having this information at your fingertips, you’ll know how to more effectively connect with them and turn them from prospects to paying customers.
Key points to remember / Conclusion
More and more companies from different industries are using the power of artificial intelligence and machine learning to dramatically increase brand awareness, improve customer engagement, improve user experience and meet customer expectations. clients.
- AI can identify gaps in your content marketing strategy so that you can create relevant content for your target audience.
- AI can help you generate high-quality leads who are likely to buy your products.
- With AI, you can personalize and tailor your product recommendations based on your customers’ preferences, increasing repeat purchases.
- AI can be integrated into your e-commerce site to reduce cart abandonment.
- AI dramatically improves website user experience by making it intuitive, accessible and easy to navigate.
- AI-powered social media tools can help you monitor and gain valuable information about your brand. You can then use it to develop a social media marketing strategy to gain new customers.
Achieve these milestones and you will be sure to acquire new customers and retain existing customers.