Personalization through Artificial Intelligence
AI has started to be used in all sectors of production over time. Currently, many things are being automated using AI on the Internet. Everyone is welcoming this technology because it can do a lot of work in a short time.
So you can train AI to provide automatic support to your customers. That is, the more data you can train the AI bot with, the better support it can provide. Research has shown that in e-commerce business, if you can understand the tastes and desires of the customer, then he will want to buy products from you again and again. By using AI, you can analyze customer data and gain insights about customer behavior.
Augmented Reality and Virtual Reality
Almost everyone is familiar with virtual reality. Augmented reality is similar to virtual reality, but its effectiveness is much greater. In both methods, you will get a computer-controlled simulation. Where real world experience is available along with audio, video.
This technology integration is one of the new trends in e-commerce business these days. Because by using this technology, you can give the customer an idea of how your product will work in the real world. That is, suppose you have a glasses business. Now on your e-commerce site, you have created a system using this technology that the customer can see how these glasses will look on his eyes without having to go directly to your store.
Currently, many online stores are adding this technology to their sites. According to a recent study, using AR/VR has increased the conversion rate by 92% and increased product sales by 71%.
Customer Relationship Management (CRM)
You must have heard the saying that the customer is always right. For a business to survive, customers need the most cooperation. If the customer has a bad idea about your business, the business will not move forward. So how do you stay connected with the customer as an e-commerce entrepreneur?
The easiest way to do this is CRM or Customer Relationship Management. This is a complete solution through which you can stay directly connected with the customer. That is, in addition to communicating with the customer through this system, you can also know how many products they have bought, what products are in high demand, what problems they are facing, etc. This data will help you know the tastes and desires of the customer, based on which offers can be given. By giving offers, a large number of customers can be attracted.
Hybrid Commerce
After Corona, a huge market for e-commerce businesses has been created all over the world. People have started relying more on this system. In the continuation of which, a new trend of online shopping has started around the world. In the traditional e-commerce that we see, after purchasing products online, they are delivered directly to the home. Although advance payment is customary in many cases as a payment system, business cannot run without cash on delivery in markets like Bangladesh.
On the other hand, in the developed world, the Buy Online Pickup in Store or BOPIS model has been introduced to reduce cancellations before payment after purchasing products. That is, in this model, you can buy products online by viewing the website. However, you have to collect it from the store or from the pickup point. In this way, the customer can see and take the product himself and do not have to wait for delivery. Not only do you not need separate manpower for delivery, but you can also benefit financially.
Social Commerce
The F-Commerce or Facebook Commerce business model is very popular in Bangladesh. It is basically a social commerce business model. Research has shown that 80% of people use their smartphones to browse social media. Of these, about 79% make online purchases using that phone. Currently, along with Facebook, other social media including Instagram have become a hub for social commerce.
One of the big advantages of social commerce is that here you can do marketing with various celebrities or influencers. According to statistics, about 80% of people buy products recommended by these celebrity influencers. So it can be assumed that human social commerce is possible in both the present and future.
Top Quality Customer Support
Customer support is a very important aspect for every business. According to the report, about 81% of customers come back to buy products again for customer support. That is, you can increase repeat customers by improving and professionalizing customer service.
Live chat option is more effective than opening a support ticket. Because it gives the customer a feeling of being physically present and getting help. About 40% of customers support live chat compared to email, call or social media support. Currently, many companies are setting up chatbots using AI. In this, customers get replays as soon as they send SMS, which helps in business growth.
Subscription model
Various course selling websites or streaming websites like Netflix have monthly subscription systems to use their services. In this system, you have to pay some money monthly, from which you can later use the services of that website for the entire month.
This subscription model is gradually being established in e-commerce business. Due to its various benefits, this model is spreading rapidly in the online store industry. It is attracting the attention of customers at the same time and they are interested in subscribing after analyzing the various benefits.
Headless Commerce
Till now, e-commerce business was limited to mobile, desktop and tablet. But with the improvement of technology, people have now started using smart home devices. IoT devices have made our lives more dynamic and easier. In continuation of this, where earlier you needed to use desktop or mobile to buy any product online, now you can buy them from various fitness devices and IoT devices.
To launch this system, the journey of headless commerce has started as an API. That is, now you can provide services using headless commerce with any front-end framework. This will allow you to run an online business without depending on any specific device.
How to Create an E-Commerce Website in Bangladesh
Flexible Payment Methods
If you have to face problems with payment while buying products from an online store, then it is never possible to make a sale as expected. Besides, if a visitor browses the site once, he will not want to browse it a second time. This is because if I cannot buy products from an e-commerce site, then what is the point of going there?
To avoid this problem, the payment method must be flexible. That is, the payment methods available in the global market must be implemented on your site. Especially digital and mobile payment methods must be implemented on the site. According to statistics, the use of digital and mobile payment methods will increase further by 2025.
Voice and Visual Search
Voice and visual search have changed the way we search for information on the internet. Now, in addition to typing on the keyboard, you can also find information from search engines by voice search. There is no alternative to adding voice and visual search options to your website to find products using this same method.
After the advent of smart devices like Alexa, Siri, OK Google, Cortana, etc., people now give more importance to voice commands than typing. With this, you can find the desired thing in a much shorter time. It is important to add this feature to your e-commerce business without any controversy.
Conversion Rate Optimization or CRO
This feature means making customers who come to your e-commerce website interested in buying products or subscribing to your newsletter. To do this, you have to convert leads into sales.
In this case, you need to be sure of a few things. In particular, you need to remove any unnecessary information on your site. Then you need to implement A/B testing on the site. This will give you a clearer idea of the entire site. Above all, using this method will help you in how to convert the traffic coming to your site into customers.
Marketing Automation
Many helpful automation features can be created using machine learning. Using this method, you can easily automate many marketing strategies of your e-commerce site. For example, sending emails or follow-up emails to the emails collected every month. Then, you can automate the repetitive tasks that are required to manage various methods for outreach.
By implementing these tasks in the online store, it is possible to do marketing automation in a short time and with low marketing costs. This will increase your sales as well as profits.
Zero Party Data Collection
A survey conducted by Cisco found that about 86% of customers are concerned about how their data will be used. They want to have an idea of how their data will be used in advance. And be aware that it will not be used in any unwanted places.
Currently, many large organizations in the world, including Apple, have created a lot of awareness about the issue of collecting and storing this data. Now no one will collect their data if the customer does not want it or the user has been given control in this regard. Now you can use subscriptions, quizzes, polls and registration systems to collect data for your online store.