Emerging technologies are transforming the world of eCommerce and shaping the way modern consumers connect with brands. These transformations open new business opportunities for online store owners and speed up the pace of the industry growth.
The good news is that if you understand technology trends, you can benefit from that. Today, we will discuss current technologies, tools, and services that empower eCommerce business strategy and give you some tips on how to leverage them in your strategy.
In-depth customer analytics
Probably the best thing about new technology is that it helps brands to understand their target audiences better. There are lots of new technologies and software that allows online store business owners to collect more data and analyze this data more precisely than ever.
Machine learning and artificial intelligence (AI)
By using AI-powered software and machine learning applications, you can get a clear understanding of what customers expect from your brand and what specific “sentiments” they feel about the products you provide. With the help of automated software, you can go through all the customer reviews available on the web, and get insights on customer experience and satisfaction.
Besides, you can use new technologies to predict what certain customers will want in the future. By registering and analyzing data about customers’ online behavior, their shopping experience, and favorite products, the system can define which products customers might be interested in, and when repeat purchases will be made.
By leveraging artificial intelligence and machine learning in eCommerce, it’s getting much easier to predict customer needs and optimize sales. So don’t hesitate to learn more about these technologies, and rethink your approach to marketing.
Modern consumers expect that brands will treat them as individuals. So if you want to succeed in eCommerce, you should use technological advancements to create the ultimate personalized customer experience.
Using plugins for personalization, you can customize your website in the way it will display the most relevant content or products to your visitors. For instance, depending on the time of day a user visits your site, the home page can display the greetings “Good Morning”, “Good Afternoon”, or “Good Evening”.
Or, depending on their previous browsing behavior, your visitors can see different recommended blog posts. For example, a person who has been looking for “toys for infant” will be shown the article “5 tips to choose an infant toy”, and a person who has been searching for “toys for toddlers” will be shown the article “10 ways to teach your toddler to share toys”.
The trick is that if you present your visitors with content that caters specifically to their needs, you will significantly improve digital customer experience. That will help you to improve customer retention and skyrocket your sales process.
An AI-powered chatbot is a tool that makes the user experience more pleasant and superior. Thanks to human-like intelligence, chatbots help to keep customers engaged and increase the overall level of customer satisfaction.
While browsing through the product recommendation on the website, a customer might want to clarify the availability of the item, its price, shipping costs, or any other details. By using chatbots instead of other channels of communication, a shopper can get the necessary information immediately.
Whether you have 2 or 200 customers on your website looking for answers, an AI-powered chatbot can answer any number of queries instantly, at the same time. And that’s an important thing. The instant customer support helps to minimize the distractions that negatively affect the consumer online decision process and to boost sales.
Experts predict that online payment fraud losses will double in the coming years. They also expect that online shoppers will keep opting for websites and payment methods that they deem most secure.
As an eCommerce business owner, you should use emerging technologies to make your website more secure to attract more buyers.
Blockchain technology is not just a buzzword related to Bitcoins. It’s much more than that.
In a nutshell, blockchain technology is a distributed open ledger, which stores the information about transactions and users in a permanent and immutable way, and which is decentralized through a peer-to-peer network. When applied to the eCommerce industry, this advanced technology can help to secure transactions, prevent frauds, improve supply chain management, and generate genuine reviews.
According to Statista, the global blockchain market is expected to grow fast and exceed $7 billion by 2021. So if you want to take your eCommerce platform to the next level, you should consider using blockchain technology.
More effective marketing
Technology development influences all aspects of eCommerce websites, and marketing is not an exception. So if you want to get the most of the new trends, you should explore new ways to market your brand image and advertise your products.
Localization tools and multilingual plugins
If you want to take your company global, you should go local. You should localize your website to make it accessible for local users. Fortunately, modern technologies allow you to do it fast and easily.
“With the use of localization software and multilingual plugins, you can provide customers with the opportunity to browse your website in their native language. You can reach a wider target audience and boost your international marketing efforts with minimal investments and hassles”, says Ryan Pearson, a localization expert at TheWordPoint.
Augmented reality is a new thing in the eCommerce world. However, experts say that this technology will personalize and enhance the shopping experience and completely change the way customers shop in the coming years.
By offering augmented reality features online, you can gain a competitive advantage that will help you to increase sales, conversion rates, and the number of products sold. Companies like Sephora, Amikasa, IKEA have already started using this technology to allow shoppers to view their products in real-time and make more informed buying decisions. Now it’s your time to use augmented reality to maximize your marketing efforts.
You may think that new technologies are too sophisticated and too expensive to use. However, they are not. New affordable, easy-to-use tools and services are appearing every day, and you can benefit from them.
Learn more about virtual reality, artificial intelligence, machine learning algorithms, localization, blockchain, and other technologies, and you will find new opportunities to grow your eCommerce company and boost your sales.
Erica Sunarjo got her start as a freelance writer for a number of online companies – e-commerce and writing services, including Best Writers Online. Since then, she has branched out to copywriting for multichannel marketing campaigns for clients from a variety of sectors and has become an expert on creative and successful campaigns. In her spare time, she works with animal rescue organizations and keeps up her musical talent as a keyboardist with a local band.