5 Ways AI is Transforming the Ecommerce Experience

Aug 24, 2020

The answer to ecommerce success is the same as brick-and-mortar: delight your customers. Simple and straightforward, or is it? Thanks to technology, the landscape grows more and more competitive every day. How can your online business keep up, while also impressing its customers through your service? Artificial intelligence (AI) might be the answer you are looking for.

Here are 5 ways AI is transforming the ecommerce experience, along with how you can use it to keep your ecommerce business customer-focused:

Comprehensive 24/7 support

When it comes to shopping, we live in a time like no other. The freedom and convenience shoppers enjoy today is unique. Not only do you not need to visit a store in person to browse and find what you want, but you can also buy it any time of the day. You can wake up in the middle of the night, remember something you need and buy it – making your purchase and going back to sleep in less than 5 minutes. AI is taking these micro-moments (as Google calls them) to the next level using tool like chatbots. Need a support assistant, but it is the middle of the night? Chatbots can handle these basic support requests, log and pass them on to human support assistants.

Personalized touch

Providing personalization through ecommerce is nothing new. If you are one of the many people that use Amazon frequently, you know what a difference adding a personalized touch can make on the customer experience – and how quickly it can turn you into a loyal customer. Thanks to the advancements in artificial intelligence, personalization is reaching new levels in the ecommerce world. For example, AI is continuously monitoring all your devices and channels to create a seamless customer experience across all platforms. This information helps businesses to analyze their customers’ touch points, so they can learn more about their interactions online and continue to make improvements to their experience.

Relevant inventory

Customers want their favorite online stores to keep up with the latest and greatest products; they much prefer to find everything they need in one place, fast and convenient. This has created a need for businesses to keep their inventory relevant. AI is helping businesses to do a much faster and more comprehensive job of doing just that. One example of this service is Sell The Trend, which allows you to link into a dropshipping site to immediately add proposed items. This helps sellers stay on top of inventory, and reduces the time customers spend reaching out to see when items will be added.

Dynamic recommendations

One of the biggest perks of shopping in-store is personalized support. Through AI, ecommerce businesses are able to offer their customers dynamic recommendations based on their order histories and preferences. While some people find this to be presumptuous, even intrusive, businesses have found it incredibly helpful in meeting their customers needs and interests. You are going to market regardless, so why not produce the most relevant product suggestions and ads?

Tackle fake reviews

Unfortunately, one bad, fake review can tarnish your business’ hard-earned reputation. Because customers today are overwhelmed with the amount of advertising they receive across their devices every single day, word of mouth has become more valuable than ever before. So much so, that 86% of customers say their buying decisions are influenced by negative reviews. AI can help ecommerce businesses to combat fake product reviews and inflation by reviewing characteristics such as ratings to detect them.

How to Set Up the Best Ecommerce Merchant Account

Looking for even more options to keep your services customer-focused and offer the very best in ecommerce processing? If so, consider partnering with eMerchantBroker.com. EMB offers next-generation merchant services to help you expand and grow your business. EMB is voted the #1 high risk credit card processing company in the US and boasts an A+ rating with the BBB. EMB is focused on providing eCommerce businesses and brick-and-mortar stores with a better alternative to other processors. The application is fast and hassle free, minimum paperwork required.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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