The market of generative AI in e-commerce is expanding. It’s expected to be worth around 2.1 billion by 2032.
Generative AI models are designed to create new content by learning from large datasets. They can find new patterns in the data to produce text, images, text, music, and more.
A popular image-generative AI program, Midjourney, creates stills via text-based prompts. Here’s a picture based on the prompt, Iron Man in Ancient Egyptian Hieroglyphics:
The count of programs utilizing the power of AI is rapidly increasing. And that’s gradually boosting the potential of generative AI in e-commerce. From quickly producing product demos to brainstorming marketing ideas, use cases are raining.
How E-Commerce is Using Generative AI
Generating Product Images
Good product images are 40% more likely to be shared on social media by your customers. So why settle with the ordinary?
Tools like Adobe Firefly, Midjourney, Stable Diffusion, and DALL-E 2 are changing the image production landscape in e-commerce. Brands no longer have to invest time, money, and other resources to create realistic product visuals.
To generate images, e-commerce businesses can try out different image-generation tools. All they have to do is describe what they want to bring their vision to life - no need to hire photographers, models, and editors.
Mattel used DALL-E to create new Hot Wheels toy cars. What was the result? Refined, fresh, and new ideas that wowed the designers.
E-commerce companies start by creating prompts that are specific to their needs. For instance, Mattel would have laid out the details of the Hot Wheel trademark followed by creative and sparking prompt ideas.
Imagine an e-commerce business specializing in trendy apparel. Using image generation tools, its owners can apply their imagination to produce stellar and unique ideas. Here’s what a design we got for the prompt “Creative ideas for a cyber-punk style t-shirt merge collection” on DALL-E:
In conclusion, as an e-commerce business owner, you can employ the power of image-generation AI tools to:
Create a vast and versatile image library.
Produce multiple mockups to expand the boundary of imagination.
Save money.
Quickly generate visuals independently.
Creating Personalized Experiences
According to Accenture, 83% of consumers are willing to share their data for personalized experiences. But as per Aberdeen, only 27% of businesses have achieved genuine customer-tailored experiences.
With tools like Adobe Sensei and Salesforce Einstein, creating personalized experiences becomes easy and straightforward.
The tools analyze customer preferences, browse patterns, and purchase history. Then, the tools use the data to identify unique findings, patterns, and trends, allowing businesses to create highly personalized experiences.
Here’s how some companies are using generative AI for personalization:
Spotify lets generative AI analyze the listening patterns of users to curate hand-picked recommendations.
35% of what consumers purchase from Amazon was the result of recommendations, as per Forbes in 2021.
Personalization AI tools can help your e-commerce business in the following ways:
Improve customer satisfaction by providing what they need
Increase trust, sales, and revenue
Create efficient and highly targeted campaigns to click with customers
Automating Customer Service
Gladly says only 19% of consumers believe customer service exceeds expectations. Isn’t that alarming for e-commerce businesses and the perfect opportunity to automate it with generative AI?
Generative + conversational AI is a huge improvement over traditional chatbot customer support. It efficiently solves complex problems, personalizes every message, and mimics human-like empathy. And unlike human-backed customer support, it’s available 24/7 and responds quickly.
There’s a tool called ChatBotKit that provides a simple and easy way to build advanced AI chatbots. Your business can utilize its custom datasets, skillsets, and widget integration to plant a customized customer service representative.
Another tool, ResolveAI, helps businesses provide automated and personalized support in real time. From understanding customer issues to recognizing patterns, this tool ensures your customers get genuine assistance.
Helvetia Insurance Switzerland has become the first company that uses generative AI for direct customer contact service. Clara, Helvetia’s digital assistant, uses ChatGPT and the information on its website to answer questions about homeownership, pensions, and insurance.
According to Zendesk, 75% of customers are willing to spend more on businesses that provide them with a good customer experience. So, why not take the leap and use generative AI tools to automate your business’s customer service?
Improving Inventory Management
Out of stock! These three words can negatively impact your business. Over 70% of customers will search for the product elsewhere instead of waiting for restocking. That’s why it’s critical to craft a golden inventory management strategy.
Generative AI can help an e-commerce business improve its inventory management. It analyzes current sales, inventory data, market trends, and customer sentiments to lay out the action plan.
Moreover, it can forecast demands, peak traffic periods, and drought days, helping regulate the inventory like never before.
C3.ai, a public American tech company specializing in AI, released a tool, AI Inventory Optimization. It uses advanced AI to enable companies to maintain a sufficient inventory to meet customer-level agreements.
C3 AI Inventory Optimization eliminates excess raw materials and parts inventory by optimizing reorder parament changes. Moreover, it lets businesses view global supply in real-time.
Generating Marketing Content
Gone are the days when one-size-fits-all marketing content worked like a charm. Now, the competition is high as ever.
With generative AI, e-commerce businesses can seamlessly generate content. That includes marketing emails, social media posts, blogs, product descriptions, and more.
Marketing automation and SEO are two important arenas where generative AI shines. You can discover content ideas, conduct advanced keyword research, find relevant titles, and analyze consumer behavior.
Alphabet and Meta are working on generative AI to build tools for increasing the efficiency of marketers. They will help businesses determine the best ad placement and campaign budgets, including ad creatives.
One of the biggest investment firms, Vanguard, used Persado to personalize its ads to resonate with its audience. The result? Conversion rates went up by 15%.
ClickUp uses Surfer SEO’s NLP AI tools to understand keyword placements and gain insights like perfect article structure, number of images, etc. Since then, the website has seen an 85% upturn in organic and non-branded traffic.
Top 8 prompts to use with Chat GPT/Google Bard
ChatGPT is a generative AI chatbot language created by OpenAI. It’s built on top of the GPT 3.5 and 4 models. Google Bard is an AI experiment conversational chatbot based on LaMDA. Both tools can generate text and browse the internet.
Here are the top 10 prompts to use for the e-commerce space:
1. Generate Product Descriptions
Leverage the power of ChatGPT to produce SEO-optimized product descriptions for your e-commerce store.
Prompt: Write a description for a [product type/product name]. The product has [precise product attributes]. It’s aimed towards [target audience], Incorporate these keywords SEO: [SEO keywords] and use a [tone].
2. Create Product Titles
Your product listings won’t rank if they aren’t engaging, catchy, compelling, and keyword optimized.
Prompt: Write a detailed, stellar, and engaging product title for [product name],
Brand name: [brand name],
Product attributes: [product attributes],
Keywords: [keyword(s)],
Marketplace: [marketplace]
3. Explore Your Audience
Never miss out on your audience using the following prompt to dig for your potential buyers.
Prompt: Create a list of [a number] audience demographics in [location] that would benefit from [detailed description of the product].
4. Generate Prompts for Image Generation Tools
ChatGPT can help you create picture-perfect text prompts for image-generation tools like DALL-E 2, Midjourney, etc.
Prompt: Generate an "imagine prompt" that contains a maximum word count of 1,500 words that will be used as input for an AI-based text-to-image program called [program name] based on the following parameters: /imagine prompt: [subject], [description of subject], [scene’s enviornment], [mood of the scene], [scene’s atmosphere], [lighting’s description].
5. Create Responses for Customer Queries
Use ChatGPT’s intelligence to streamline customer queries by providing them with quick, human-like, and helpful responses.
Prompt: Write a professional, human-like, empathetic, and helpful response to the following customer question:[customer question]. Build upon the following solutions: [insert solutions].
6. Analyze Customer Reviews & Gain Insights
Manually analyzing customer reviews is time-taking and daunting. Use the following prompt to automate and rapid-up the task.
Prompt: Read the following reviews about [product/service] and craft out improvements we can practically carry out: [Reviews]
7. Generate Website Content
Let ChatGPT generate website content for your business.
Prompts Think like an e-commerce business owner and write content for the [about us/mission/FAQs] page for [your brand name] from the [industry] industry.
8. Build Outstanding Social Media Campaigns
Using ChatGPT, you can keep your social media presence active, unique, and fresh.
Prompt: Act as a social media expert. You will create content for platforms like Instagram, Twitter, or YouTube. The motto is to increase engagement with followers & brand awareness and promote products or services. My first suggestion request is, “I need help creating an engaging campaign on [Platform] to promote [Your Product Details].”
What Should You Choose? Google Bard vs. ChatGPT
Here are the reasons you should choose Google Bard over ChatGPT:
Real-time access to the internet keeps your responses relevant to the latest trends
Service is 100% free; no premium subscriptions have been added yet
Geared towards dialogue, natural and open-ended conversations
However, here are some impossible-to-miss features that let ChatGPT have the upper hand:
The availability of plugins & real-time internet browsing for premium users is a game-changer
Better at summarization and paragraph writing - ideal for producing content
An official iOS app that’s available in the US
Conclusion
Make the most of generative AI in the e-commerce space using the following ways:
Generate Product Images
Automate Customer Service
Create Personalized Experiences
Improve Inventory Management
Develop Marketing Content
The true AI revolution has begun, and the future looks promising for businesses that’ll take its early advantage. Tasks that were time-taking and tedious are now just a few clicks and prompts away. The mass releases of generative AI tools have made it possible for any sane e-commerce business to increase its sales, impact, and customer trust with comparatively less effort.
However, the sudden surge of generative AI tools has also made it tough to keep track of the advancements. Suddenly, everyone is jumping on the bandwagon with so much to offer. But the key is eliminating the noise and focusing on practical developments by prominent technology leaders.
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