Artificial intelligence can quickly identify similarities between various customers and their past purchases. That’s the reason why it is so valuable in the e-commerce and retail industry.
Massive numbers of transactions can be analyzed every day to offer personalized offers to a single customer or a targeted audience. In other words, we can match recommendations, listings, communication with displayed content or time and search results.
By adding Artificial Intelligence solutions into your business, you can shorten time to purchase, uplift in revenue and an increase in customer satisfaction.
“Adding AI solutions” might sound a bit complicated and vague, but today we want to prove that there's nothing to worry about.
We’re going to explain all the enigmatic terms and introduce you to our 7-day plan on how to implement AI in your company and achieve outstanding performance.
The 7-day plan step by step:
The first day is about preparing product feeds, checking Open Graph meta tags on the website and then implementing tracking codes and transactional events.
If you have never heard of these terms before, let me quickly introduce them to you.
The product feed, product data feeds or shopping feeds are CSV, TXT or XML files containing product details. These are used by product marketing channels to display product listings. Of course, this is not the only way to implement AI in your company, the Synerises team supports different flexible types of product feeds.
OG: tags (Open Graph meta tags) allow you to identify what kind of page it is, e.g. what specific offer it affects, as well as controlling what content shows up on a page, like a product’s id, price, color or size. Feeds are required to submit product data to shopping channels.
Now that you have the basics down, let’s move on to what happens the next day!
On the second day of our implementation, we will focus on training the first model: similar and visual recommendations (relevant products, or search results to shoppers when they search for a product using images).
On the third day, we will implement the first recommendations of the product page and import historical transactional data. Now the customer will receive a dedicated landing page with personalized offers and your automated email campaign can be upgraded with recommendations.
On top of that, your customers will receive visually similar recommendations on the product page and at the end of the purchase, an automated exited pop-up with personalized products based on their interests. At this time automated email campaigns can be boosted by AI-based recommendations so you can promote complementary products related to recently purchased products, or similar to last-seen items.
On the fourth day of the process, we will be training more models for cart and complementary recommendations. Additionally, we will implement product sets, and AI search solutions.
The next step is training models for metric recommendations.
The second to last day is when we send automated emails to customers with recommendations.
On the last day of our journey, we will focus on training and implementing personalized recommendations and adding personalization to AI Search (visual or voice search).
Now, when a word is misspelled in a search bar, AI can make suggestions and show the appropriate products.
It is very important to examine the results and metrics of campaigns, like clicks, the number of transactions or the number of products bought using recommendations.
Our highly advanced Analytics Dashboards allows you to easily keep track of all analytics tables and charts in one place, which might be a helpful tool during business meetings,
as well increases the transparency of campaign activities and eliminates the time needed to prepare relevant reports.
With this feature, you can easily create dynamic dashboards to see the results for each attribute.
In addition it is possible to follow trends with online and offline transactions, new customer acquisition and the number of pages viewed/visited. You can also measure metrics showing gross offline and online revenue or measure customer conversion rates.
For the best analysis of the campaign, it is best to use A/B tests with control groups.
They test two different designs for the campaign optimization process. By changing the copy or graphics of a specific element on the website you can see which version of the campaign converts better and use the one that brings more conversions. With Synerise you can create an unlimited number of such designs.
As you can see, it is not a difficult task to implement AI solutions in your company.
The addition of modern AI solutions offers many benefits. It not only reduces costs and increases sales; it can reduce cart abandonment rates and increase general customer satisfaction by presenting relevant results quickly. It is worth remembering that AI has an impact in engagement and helps with anti-churn campaigns. You can easily build brand management by choosing personalized products but from specific brands.
However, if you are still interested in taking advantage of AI technology contact the Synerise team and get started now!