Technologies such as AI and deep learning have immense potential to boost customer personalization and engagement.
FREMONT, CA: With the rapid rise of digital technology in recent times, consumers are bombarded with messages across every conceivable channel. Even the most distant and smallest competitors can pose a challenge to businesses with lesser barriers and enter the market. Apart from the above challenges, consumers trust in brands and institutions, which are at an all-time low. In such a scenario, it is crucial to reach customers, instill trust, and enhance brand affinity. Implementation of technologies such as artificial intelligence (AI) and deep learning in marketing endeavors may be the key to success.
Deep learning has immense potential to enhance customer personalization and to engage them with a company’s product, site, or store. Companies have realized that more positive consumer experience will result in better conversion rates. Thus, the organizations are leveraging technology for the purpose. Here are the ways in which technology can benefit loyalty management:
AI and Deep Learning in Ecommerce
Market-relevant details such as a store visit, product view, rating, purchase, review, referral, etc. enable to analyze and record the information. Businesses develop segments that enable them to offer a more personalized customer experience using the analysis. Based on a deep learning-obtained user profile, the segments can be categorized as per the information such as age, gender, location, and shopping preferences.
Using such segments enables to create a customized customer experience which will await each customer on the site.
Deep Learning and AI for Customer Loyalty Programs
Segmentation of customers and the creation of profiles allow the personalization of incentives, thereby keeping the customers engaged too. Creation of customer cohorts as per the purchasing trends will also assist in offering personalized incentives, rather than a generalized overview that can alienate some probable customers.
Data aggregation is another way to leverage AI in incentive programs. Customers can receive incentives by logging their purchase data within a system. The analysis of a large number of receipts leads to deep insights into purchasing habits. Such data can be used to predict future buying behaviors, personalized incentives, and offer a better shopping experience to the customers.
In the coming years, the use of AI to offer a more personalized experience will be the new norm. Amazon was one of the first to utilize the technology, which now handles 50 percent market share for all e-commerce. Thus, it is evident that deep learning and AI are crucial to market success.