Using AI Bots to Optimise Basket Size for Your eCommerce Business
Basket size refers to the number of items per transaction that you have. In a brick and mortar store, you can easily increase basket size just by knowing your product and interacting with a customer. If she's trying on a blouse, you can suggest a matching skirt or perhaps some accessories to go with the blouse she wants.
On an e-commerce site, it's not really possible to check in with every user browsing your products, and then coming up with suggestions. Most of the time, you'd know what products the customer has bought only after they've paid for them and are done with the transaction.
Artificial intelligence (AI) can help you. AI technologies can analyse your customer's behaviour, check your inventory, and know the trends. As such, it can offer some helpful recommendations to the customer without being intrusive.
A good example of this comes from Netflix. After you've watched a romantic comedy movie, Netflix often shows you similar movies that you might be interested in. Over at Amazon, when you're browsing a particular product, it will show you what other customers have bought when they saw that listing. Amazon also offers discounts if you buy that particular product with another related product.
A Wide Range of Recommendations
There are a lot of recommendations that your AI can offer your customers. For instance, it can cross-sell another product based on what your customers have in their shopping carts.
They can also check out what other visitors have recommended. Or simply show your customers the best sellers in that particular category. AI can even show alternative products.
What's more, because AI continuously learns, it can keep itself updated with the trends, the seasons, and even work on its own with pre-set recommended algorithms and rules.
More Engaging Content
And it's not just recommendations. Sometimes, your customers are browsing your online store, and they might need more information. AI can serve up related content that can help your customers, and at the same time, maybe sell more of your products.
For instance, if a customer is buying three pounds of raw chicken, AI can show him or her links to a chicken recipe. The catch is, the rest of the ingredients to make that particular dish are also available from your store. So, instead of buying just the chicken, the customer would also buy vegetables, olive oil, cloves of garlic, cumin, and more.
Deal with the Inventory
Artificial intelligence can also help with the inventory, making sure that you have enough of the item to last you for the rest of the season. This reduces out of stock items and increase your basket size metrics.
AI can “see” potential demand using insights and past data. It can also assist you with predicting the demand of your suppliers based on past orders. This ensures important decisions are made and stock levels are maximized. As a result, you’ll reduce the amount of your “cost of goods sold”. Having more cash and clearing-up storage space creates a successful enterprise.
Sell Like a Real Person
Moreover, AI can help your customers as they are looking for a particular product. AI can help spell check, offer synonyms, and even predict what your customer is trying to search for. For example, an elderly trying to search for “Viennoiserie pastries” on her computer but misspelled it with only one “n”. AI will automatically comprehend it as a search string for “Viennoiserie”. AI can also recommend “French bread” to go along with the search.
AI's grasp of natural language also helps it function both as a sales clerk and a customer service representative. If your customer is stumped as to which wine goes well with which cheese, AI can step in and make the right suggestions.
Conclusion
These are just some ways that artificial intelligence can help you get your online customers to buy more of your products. AI has a range of capabilities that can help it become your best salesperson, customer service representative, and all-around marketing expert.
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