Navigating the World of eCommerce Marketing with AI and a Clear Cookie Policy

As an eCommerce marketer or someone in the eCommerce industry, the fear of survival is real. 

 

Why, you ask? 

 

For starters, technological advancements, innovations and changes emerge very frequently and you have to practically be on your toes to exist. 

 

With artificial intelligence, it’s a rather interesting kettle of fish. 78% of eCommerce brands already use AI tools or plan to do so. So, if you intend to be relevant in the eCommerce industry, you must step up your game and embrace AI. 

 

Cookies (not edible ones) are also a thing in the online shopping sphere. Cookie policies could confuse you and your users if care is not taken. How do you then navigate the world of eCommerce marketing with AI and a clear cookie policy? 

 

Scroll down. Your answers are here. 

 

What is Artificial Intelligence (AI)

Artificial intelligence (AI) is more than the fascinating out-of-this-world stories we see in sci-fi movies. For the eCommerce industry, they provide real day-to-day solutions. As more businesses embrace this enchanting technology, there is a growing need to understand what AI is and how it affects eCommerce marketing. 

 

Basically, AI imitates or mimics human intelligence processes through computers. AI has three cognitive skills. They are:

• Learning: this is about data acquisition and creating rules called algorithms
• Reasoning: this has to do with selecting or choosing the proper algorithm to get a certain result
• Self-correction: this is about fine-tuning algorithms to produce results that are as accurate as possible

What is a cookie policy

One of the questions often asked by eCommerce entrepreneurs is: What is a cookie policy? This question is important to them because many of their customers are also curious about cookies. To answer their customers, therefore, they need to understand what cookies are and put the right policy in place. 

 

A cookie policy is a legal document that lets your website or application visitors know about their online privacy and how your company tracks their data. Your cookie policy should state the types of cookies you use and a brief description of each of them. 

 

Cookies are digitally encrypted files that are stored in the devices and browsers of your users. These cookies are read each time they revisit your website. Cookies help you create better experiences for them. 

Types of cookies

There are different types of cookies you should be familiar with if you’re into eCommerce. They are listed below:

Session cookies

They are also known as temporary cookies. These cookies only keep users’ information for the period they spend on your website. The cookies are deleted as soon as they leave the website. eCommerce stores often use these cookies. 

Permanent or persistent cookies

These cookies keep operating even after the user has left your website or application. They are the cookies that remember passwords and login details so that your users won’t have to enter them each time they visit your website. 

First-party cookies

They are cookies you install directly on the devices and browsers of your users.

Third-party cookies

These are cookies installed by third parties who want to collect data for research. Advertisers are examples of those who use third-party cookies. 

Why do you need a clear cookie policy?

You need a clear cookie policy to reassure your customers that their data is safe. They have a right to know how you use their data. This is one of the best practices for internet privacy that prove you’re a responsible company. Ensuring you comply with regulations like GDPR and CCPA gives you an edge as a company that takes the privacy of its users seriously.

The uses of AI in eCommerce marketing

The main role of artificial intelligence in the electronic commerce industry is to produce innovative solutions, generate leads and create better customer experiences. For example, many now use AI to improve Google Ads and they see great results. The uses of AI in eCommerce include but are not limited to:

• Virtual assistants
• Product recommendations
• Chatbots
• Voice chats
• Personalized shopping experiences
• Pricing optimization
• Customer segmentation
• Sales forecast

Benefits of AI in eCommerce marketing

There are reasons 78% of eCommerce brands are using AI or planning to use it. The benefits this innovation brings to the industry are numerous. Some of these benefits are listed below.

It ensures better-targeted marketing

With AI, marketing and advertising efforts are better targeted. This is a result of machine learning advances which have provided in-depth customization methods that help personalize content according to users. These AI techniques ensure relevant content is directed to the intended audience, leading to better-targeted marketing and advertising. Moreover, successfully leveraging an AI RFP can enhance these efforts by integrating advanced AI solutions that  automate audience segmentation and improve overall campaign effectiveness.

It enables smarter searches

Artificial intelligence brings great value to eCommerce through smarter searches. Smart searches help prospective customers decide on what they want to buy when they can’t seem to make up their minds. Also known as searchandising, a word coined from the words ‘search’ and ‘merchandising’, smart searches merges online search best practices with merchandising techniques.

Elements of searchandising include the following:

• Autocomplete
• Recent searches
• Faceted search
• Recommended product listing
• Navigation 

It provides image classification 

Image classification using AI is one of the benefits of artificial intelligence that you should take advantage of. It is the way AI helps you categorize and assign labels to groups of vectors within an image, using specific criteria. 

 

Image classification is in two classes:

• Single label
• Multi-label

 

Image classification works by pre-processing your data, detecting the objects within the image, labeling the detected images, classifying the objects and connecting to an artificial intelligence workflow.

It helps with customer segmentation

Customer segmentation has to do with grouping and tagging customers according to shared characteristics so that a company can market to them. It is an essential aspect of marketing. It helps with personalization and boosts sales efforts. Ordinarily, this is done manually. but with AI, it has greatly improved, making the marketing process faster and easier. 

It boosts automation

Automation is one of the best advantages of AI in eCommerce. Stores are now online round-the-clock on many channels. This is made easier by AI. AI helps eCommerce companies manage and carry out all routine tasks seamlessly. Many now use automation tools for their daily activities. 

 

Stores can automate practically everything ranging from placing many products on different channels simultaneously, giving discounts to customers to harmonizing sales and detecting risky transactions. 

For example, when customer support is automated, it saves the company energy, time and capital. Also, having chatbots handle routine queries frees up the customer support team to concentrate on more complicated requests. 

It improves personalization

In eCommerce, personalization involves streamlining the shopping experience to meet each customer’s needs, pain points, tastes and preferences. Examples of personalization include creating a customized product list, recently viewed products and customized automated email campaigns. 

 

Personalization is done using the customer’s browsing behavior, click-through, purchase history and so on. AI optimizes these processes and produces real-time analytics to boost personalization. This improves cross-selling and upselling for eCommerce stores. 

It enhances customer service 

All the features of eCommerce AI work to boost customer service. Features like automation, chatbot technology, virtual assistants, personalization and smart searches all help to create better customer service, leading to improved customer experiences. 

It helps with logistics

Logistics is an essential aspect of eCommerce and AI plays a major role in it. Smart logistics, which is an AI function, assists in predicting demands, transit times and delays in shipment. This makes for smoother operations and better customer service. 

How to leverage AI in eCommerce marketing

You would agree that the benefits of AI for eCommerce are very juicy, wouldn’t you? How can you then start taking advantage of AI in your business? The following are steps you can take. 

Identify and define your business needs

Don’t be tempted to jump on the bandwagon of businesses using AI without knowing how your business fits in. A good place to start is to define what your business needs are. What goals are you trying to achieve that you will need AI for? In what specific ways can AI help you realize your outcomes? How will you measure success?

Assess your present capabilities

To get to where you’re going, you need to know where you stand. Evaluate your internal capacity as far as AI is concerned. This will enable you to know exactly where you need AI intervention. You will know whether you’re starting from scratch or you already have some AI tools and policies on ground. 

Have a roadmap

It’s always exciting to want to leverage new technology. However, without a proper plan in place, the exercise could be futile or even awful. Having a strategy keeps you on the safe track. While you can’t get everything right at the initial stage, a plan will create a path you can follow. This, of course, is after you have studied the terrain and seen how others have used AI in their businesses. 

 

Leverage AI and a clear cookie policy to better position your eCommerce business

Daily, you’re presented with new opportunities to improve your business. Some of these opportunities might be disguised as challenges and it’s up to you to unveil them. AI and cookie policies can be challenging in eCommerce if you don’t know your way around. 

To know your way around, you must understand what they are and how you can leverage them for your business. The tips provided here will give you a proper understanding of these innovations, and you will be better positioned to enjoy the benefits.