Revenue in the eCommerce market is projected to reach $3.1 billion in 2023. And the trend continues with an estimated annual growth rate that is projected by many to reach $5 billion by 2028.
The number of eCommerce sellers and the range of product sku’s will continue to increase allowing customers to purchase virtually any product or service on line.
Request DemoOur professional services and support team are just a click away. Fill out your contact information and one of our consultants will contact you.
Retailers prioritize personalization, as indicated by surveys, yet only 15% claim full implementation of personalized strategies across channels. Distinguish yourself by crafting tailored messages and engaging in one-to-one conversations with your customers.
Leveraging AI and machine learning advancements allows for deep personalization, enabling customized content based on user preferences. Analyzing extensive data, including purchase histories and customer interactions, empowers you to pinpoint your customers' true desires and deliver messages that resonate most effectively.
Providing personalized marketing and advertising messages tailored to customers can enhance customer retention. According to McKinsey's research on omnichannel personalization, there is a potential uplift of 10-15% in revenue and retention when employing omnichannel personalization strategies.
The report emphasizes the importance of building comprehensive data and insights on customers, highlighting it as an asset that adds value across the entire value chain. The research indicates that the return on investment (ROI) for personalization is expected to surpass that of traditional mass marketing rapidly.
The aim of automation is to achieve a task with minimal human intervention. This ranges from scheduling emails in a CRM or in-built marketing tool that sends out marketing campaigns, scheduled task automation or employing advanced technology for speed up repetitive processes.
AI holds significant potential in automating repetitive tasks crucial for the smooth operation of your online store. Through AI, tasks such as product recommendations, loyalty discounts, basic support, and more can be efficiently automated.
Leveraging AI can enhance your sales process efficiency by collecting customer data, automating follow-up on abandoned cart inquiries, and more. Encourage customer progression through the sales funnel by enabling engagement with chatbots for straightforward queries.