B2B & B2C Product Management: The Solution is PIM
Do you know the difference between B2B and B2C eCommerce? The two models aren’t as black and white as you’d think. In fact, you’d be...
March 1, 2023
The future of eCommerce technology has arrived. But, when it comes to the must-have tech of today, barriers to entry aren’t as high as you’d think. There are low-fuss, no-frills tools to get your eCommerce technology stack ahead of the curve.
Let’s look at the advantages of eCommerce technology in online shopping. From AI, to voice search technology. Getting started is simple.
We’ll be looking at tools and tech which don’t have lengthy implementation times or sky-high costs. That being said, each example we’ve chosen has both feet in the future.
Yes, there’s a place for implementing large-scale technology. But, in this blog, we’re keeping eCommerce tools simple.
Everyone is talking about OpenAI’s ChatGPT. But, this isn’t a flash-in-the-pan gimmick. AI is big business.
Since its introduction, ChatGPT reached 100 million users two months after launch. For perspective, it took TIkTok nine months to reach the same figure.
Launched in November 2022, ChatGPT is an artificial intelligence language processor. It can generate articles and short stories or even write jazz chord progressions and code in various languages. It’s also super intuitive, and accessible within your browser.
For now, ChatGPT is free to access. But, Open AI has introduced ChatGPT Plus. This includes faster response time and the ability to fast-track long wait times.
When it comes to eCommerce AI tools, ChatGPT is a game changer and a technology that will change eCommerce. In a matter of seconds, ChatGPT will produce:
As an example, let’s look at how ChatGPT will get you started on writing a return policy for your eCommerce store.
After a few edits, you’re on your way to creating AI-assisted product pages. This means you’ll save yourself a ton of time to concentrate on wider eCommerce objectives.
But, be careful. Sure, ChatGPT produces conversational, human-sounding content at the click of a button. However, there are still gaps in its knowledge.
You should fact-check and edit the content it produces. To get the most out of ChatGPT for eCommerce, use natural language, provide plenty of context, and be specific!
AI is no stranger to the Software as a Service (SaaS) world, too. Certainly.io have developed an AI chatbot, powered by ChatGPT. It understands complex customer queries by looking at live product data and conversationally responding to a user’s questions. So, you don’t have to worry about missing messages from valued customers. Your customer service will be top-notch.
AI chatbots in eCommerce create tailored product recommendations to boost AOV and conversion rates. Customers will be impressed and will keep coming back. After all, no one likes to be sent in circles due to confusing customer experience technology.
In addition, Peak is a decision intelligence SaaS platform providing practical applications and services. Their cloud AI platform contains a broad feature set, from customer intelligence tools, analytics tools, and data visualisation.
How has the technology helped retailers? Well, by utilizing AI to develop insights from customer data, Peak’s platform created hyper-targeted marketing communications for FootAsylum’s customer base. Peak’s AI toolkit allows eCommerce businesses to make fast and effective decisions. This resulted in a 28% uplift in revenue per email send. Peak isn’t free-to-use like ChatGPT, but the ROI of implementing AI as part of your tech stack is solid.
Microsoft CEO Satya Nadella predicts AI will be mainstream in ‘months’. This is significantly shorter than the decade-long wait for the internet and cloud computing. So, it’s time for your online store to get started!
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Years ago, who would have thought social media would be used as a lucrative shopfront for your eCommerce business?
Social commerce involves utilizing social media platforms with native eCommerce functions as a storefront. Social media also functions as some of the best eCommerce marketing tools. So, you get the best of both worlds.
Any business can get started. That’s not to say social selling is easy, but each platform has unique tools to help power your social commerce strategy. Let’s look at some, with special attention to Facebook, Instagram, and TikTok.
With Meta’s ‘Shops’ functionality, you’re able to showcase and sell products across Facebook and Instagram.
Firstly, Meta makes it easy to connect your Facebook Catalog to Instagram. You should do this to increase the size of your audience and align your brand image across channels. Going omnichannel with Meta is easy!
Shops are configurable in Meta’s Commerce Manager. Here, you add your products and access Facebook’s inventory management tools. In addition, Meta allows you to create a Catalogue to help you manage your items more effectively by creating sets or collections.
By leveraging Meta’s Shops, the teeth-whitening brand Zimba saw an additional 1,2000 incremental orders and a 6.7% increase in average order value from customers who purchased via Shops compared to their website.
Meta makes it simple to create a commerce test account. This means it’s easy to find out what works best for your business before you commit. You should test their order management features and post-purchase support.
TikTok is a treasure trove for eCommerce professionals. Leverage its range of tools to access young, tech-savvy shoppers.
TikTok for Business is where to start. The eCommerce platform-connectable solution comes packed with intuitive tools:
Social sales are expected to hit $1.2 trillion by 2025
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Mobile commerce – or, mCommerce – involves using mobile devices to advertise and sell products and services.
Mcommerce sales are expected to reach an estimated $431 billion in 2022. So, you need to prepare by creating mobile-friendly product pages to convert browsers to buyers.
The ultimate mobile commerce technology is your website. Sure, a flashy mobile phone app would be great. But, realistically, they’re expensive and take time to develop.
Additionally, the mCommerce app space is dominated by retail industry titans such as Amazon, Vinted, and Asos. Moreover, According to Klarna, smartphone users are only using a select few apps on a weekly basis. Instead, a well-designed mobile website will do everything an app does.
Here are some examples of optimizing eCommerce website technology will drive conversions:
If you weren’t yet convinced by how technology is changing retail, consumers are now shopping through virtual assistants (such as Apple’s Siri or Google Assistant). The brave new world is here.
Voice search isn’t something to incorporate into your tech stack. Instead, it’s a tool you and your eCommerce store should prepare for. With 135.6 million shoppers using voice search, it’s one of the fastest-growing methods consumers use to search for products. So, it’s essential your products stand out.
As with traditional search – such as Google – optimizing your eCommerce website for voice search relies on a solid SEO strategy. But, there’s a twist. When it comes to SEO for voice search, focus on how people speak, as opposed to type.
For instance, a voice search is usually presented as a conversational question. Such as: ’Hey, Alexa, where can I buy a Manchester City jersey near me?’.
When writing product descriptions and product titles, make sure they’re conversational. Use Hemingway Editor or the SEMrush writing assistant. Both tools will ensure you maintain a consistent tone of voice.
You’ll improve the readability of your product information, too. This is crucial because digital assistants prioritize reader-friendly product information. So, your products will be discovered more frequently.
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The role of AI technology in eCommerce will only grow. The success of ChatGPT kickstarted an AI arms race. In response, Google announced Bard, whilst Microsoft invested $10 billion into ChatGPT. Evidently, chat-enabled search is where tech giants are leading the internet.
Artificial intelligence in eCommerce will change everything. From SEO and product discoverability, to customer support.
The blockchain is a secure register which keeps a record of all the transactions taking place. Think of it as a shared spreadsheet which no one can edit.
Blockchain eCommerce advocates suggest transactions will be secure, without the need for banks or payment processors. Other suggested benefits of the technology include faster checkouts and transparency in the supply chain.
Blockchain technology has been adopted by major players such as Amazon, Microsoft, and Alibaba. But, in terms of how the technology will be used in retail, the jury is out. That’s not to say you should forget about it. Blockchain technology in eCommerce is something to keep an eye on to remain competitive.
The good news is, you don’t need Gucci’s budget to reap the advantages of the best eCommerce technology.
There is a variety of easy-to-use tools available to get started. You’ll be future-proofing your eCommerce business whilst driving sales of your products. Not a bad result!
Moreover, it’s no surprise the benefits of eCommerce each technology are similar. They all help create high-quality user experiences for online shoppers.
From creating high-quality SEO-friendly product descriptions to curating frictionless mobile journeys. Utilizing the best eCommerce tech today will keep your customers coming back tomorrow!
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