By now, you have probably heard about or experimented with ChatGPT. Launched by OpenAI at the end of last year, it has quickly attracted attention for its quick in-depth responses to submitted prompts by users. The company and the chatbot application have seen a meteoric rise in the short span of time since its inception. Upon the release of ChatGPT, OpenAI was valued at $29 billion.
As curious users toy around with the application, others are having a broader conversation on what effects this AI software development will have on the private sector. Already, the field of ecommerce is navigating how this will affect their business model going forward.
Here are a few ways ChatGPT will impact the future of ecommerce.
Enhanced Customer Service and Reduce Human Resources in Call Centers
There will be a highly personalized customer service experience going forward. Why? Chatbots have a greater ability to retain and access information compared to humans. Knowing the prior history of customers will create a more enjoyable shopping experience.
Another advantage will be 24/7 service to customers. No matter what time they go shopping, AI virtual assistants function around the clock, meaning customers can receive assistance at any time. This will be beneficial for ecommerce merchants who operate in multiple time zones or have customers in different regions.
In the long run, implementing AI in your customer service center will be cost-effective compared to hiring multiple customer service personnel. It also reduces the need for other call center technology, making it an appealing option for small/medium-sized businesses.
Better Product Descriptions and Product Recommendations
With thousands of merchants online, the ecommerce industry is a very competitive marketplace. What can these companies do to stand out? One method is to offer product descriptions that provide immediate excitement/satisfaction to customers. Any ecommerce merchant will tell you an engaging overview of the product can be the determining factor in whether a sale will be made or not.
As a merchant, you will need some form of differentiation to stand out from the rest of the pack. Entering a prompt into ChatGPT can help an ecommerce site produce a creative description tailored to SEO needs and specific audiences to attract. In turn, this can help build a loyal base of customers who will keep returning to the site.
Another area AI can assist with is site navigation issues. There can be unexpected promos popping up or products/services are hard to find resulting in potential customers feeling browser fatigue and possibly abandoning the site. AI chatbots could be trained to assist with navigation for new customers and make personalized product recommendations for existing customers. This will Improve user experience on the site and by knowing who the customer base is, can lead to increase customer satisfaction and keep improving customer conversion and lifetime value.
Social Media and Content Creation
For ecommerce merchants, it can’t hurt to have a few more “likes” or “retweets” on social media. The interactions and feedback allow merchants to engage with their audience and promote their product/services. But again, in a world vying for eyeballs and clicks, how do they compete with other companies on social media? ChatGPT can be used to assist in the crafting of posts, product launches, and promotional content. Writing a viral “tweet” or any kind of social media post can drive higher traffic to the respective site.
ChatGPT has the potential to be implemented for content creation outside of the world of social media. Given the proper direction, it can create email marketing content or high-quality blogs to educate customers on products.
ChatGPT, and other AI based solutions, are revolutionary tools that can overhaul the way ecommerce merchants interact with their customers. With its 24/7 availability, personalized product recommendations, cost-effectiveness, improved customer retention, and ability to generate blog/email marketing content, ChatGPT may soon become an important tool for any ecommerce merchant looking to pull ahead of the competition.
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