In case, you haven’t heard, artificial intelligence is the future of retail and distribution. And it’s not just a buzzword anymore, We can expect this trend to continue as AI continues to make inroads into all aspects of life.
This includes the way that distributors operate and how they interact with their customers. The growth of big data has also been on the rise for quite some time now. It’s no secret that the amount of information being collected by businesses is growing exponentially each year.
Companies have become more efficient at collecting data from various sources including social media platforms like Facebook, Twitter, Instagram, etc. They use these tools to gain insight into customer behavior and preferences.
This article will explore 5 Ways A.I. & Big Data Is Helping Distributors In The Growing Marketplace:
1) Customer Service
AI-powered chatbots are making it easier than ever before for consumers to get answers to questions about products or services. Chatbots are becoming increasingly popular because they provide an easy way for companies to engage with customers without having to hire additional staff.
These bots can answer simple questions such as “What are your shipping options?” or “How do I return my item?”
Customers can even ask them to order items online or send them a text message if they need help finding something specific.
2) Product Recommendations
AI-powered recommendation engines are helping retailers find new ways to sell products. For example, GSI Commerce recently launched a free tool called “GSI Recommender” which helps merchants identify what products people want based on their past purchases.
By using machine learning algorithms, the tool recommends products that may be relevant to a person’s purchase history. Merchants can then easily share these recommendations through email campaigns or via social media channels.
Something interesting with GSI is that you don’t have to pay anything to use the tool. You simply sign up and begin generating sales right away!
3) Ecommerce Analytics
Analytics software allows eCommerce stores to track user activity to better understand how shoppers behave when browsing the site.
With the right analytics platform, merchants can see exactly where visitors come from, what pages they visit, what they click on, and much more. When it comes to big data, there are many different types of analytics available.
All of these tools allow merchants to measure performance across multiple metrics. Some of these analytics tools include:
Google Analytics
When it comes to understanding traffic patterns, Google Analytics is one of the most widely used tools. It offers extensive reporting capabilities that help merchants determine what content attracts the most attention.
For instance, you can see which keywords drive the most traffic to your website. You can also view detailed reports that show visitor demographics, referring websites, search terms, page views, bounce rates, and much more.
Omniture Site Catalyst
Omniture is another well-known web analytics solution that provides detailed reports on user engagement. Its features include heat maps, conversion tracking, and other advanced reporting tools.
For instance, Omniture can tell you whether someone who lands on your website is likely to buy something or not. If so, it can show you which page they visited and why they left.
Shopify Insights
Shopify Insights is another great option for analyzing product trends. It provides real-time insights into what products are selling best and why. You can use it to create personalized emails that target buyers based on their shopping habits.
4) Marketing Automation
Marketing automation platforms like HubSpot offer marketers a variety of tools to automate repetitive tasks. They can set up automated emails, landing pages, drip campaigns, and more.
This makes marketing more efficient by reducing time spent on mundane tasks. For instance, blog writing services, lead generation, and customer service can all be done automatically.
5) Customer Relationship Management
Customer relationship management systems are an essential part of any business. These programs provide a central location where companies store information about customers.
CRMs can help businesses keep tabs on everything from customer preferences to order history to account details. Many CRMs also feature powerful analytical tools that help companies make smarter decisions.
For example, Salesforce has a suite of apps that give users access to real-time data on leads, opportunities, deals, and more.
Bottom line
If your company doesn’t have a robust analytics system in place, now’s the perfect time to start planning for the future.
By implementing some of the above solutions, you’ll be able to gain valuable insight into your current operations and identify ways to improve them.
