From fashion to farming, every industry must adapt and reinvent. Businesses must make sure that they make the necessary changes to remain relevant. Thus, the need to apply Artificial Intelligence in daily processes becomes a necessity.
Considering other industries, B2C e-commerce has been able to use machine learning easily. B2B businesses have been slower in doing so, despite the advantages. But this is now changing.
Like their B2C counterparts, B2B e-commerce companies are working on improving the user experience. This gives them a competitive edge to succeed in today's market.
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What is B2B e-commerce?
B2B e-commerce refers to online transactions between businesses. It involves wholesale distributors selling products to retail buyers. B2B stores need to present products suited for the needs of their customers. It is about understanding what customers want and use it to provide a great user experience.
The needs of B2B buyers are different from B2C. Successful B2B ecommerce is about understanding and meeting those needs. The buying process is more complicated with B2B. So, an automated user experience benefits both vendors and the e-commerce company.
B2B personalization adds value by reducing the time spent in looking for information. This is important due to the volume of search in the buying circle. The buyers are people like researchers, technicians, and customer service representatives. And, they need to get information instantly, instead of going through unnecessary data.
How is AI & ML enhancing B2B e-commerce?
Digitalization is changing the B2B buying experience. Buyers are now looking for seamless customer experience and quick responses from sellers. Here are some areas where AI/ML is proving to be useful in B2B:
This is an age where every company has a huge amount of information about customers. This information may include geographic and behavioral data. But they are still not able to use it properly. AI helps with these data points by improving buyer personas and customer segmentation.
2. Better customer service
B2B e-commerce companies are now trying to improve their customer experience. And AI-powered solutions have helped by giving rise to chatbots. Chatbots make the buying journey easier. They take care of day-to-day customer queries, without human help. And thus, have become an important part of customer service.
3. Improved recommendation system
AI has improved recommendation engines. B2B e-commerce companies can, thus, provide a personal shopping experience to customers. E-commerce websites can show products related to the buyer’s interests. Using AI, stores can recommend warranties and accessories with products.
4. Improved product search
Texts have been driving the traditional e-commerce product search. But, with AI & ML solutions, companies don’t have to rely on text-based search anymore. Digital assistants help in checking the availability of products and placing orders. The buying process is thus made quicker with the help of text-to-speech.
Image recognition is another AI solution that is useful. Buyers sometimes do not have complete information about a product. In such cases, they can click a picture of the product and upload it to the app. The system can then get back to you with products that match the description.
Smart businesses work towards improving their buying experience and connecting better with customers. And companies that refuse to acknowledge AI and ML trends, fail to keep up with their competitors. Skyl.ai offers simplified machine learning platforms to automate day-to-day tasks. This helps e-commerce companies improve website user experience and add value to consumers.
Check out the various solutions that can be built using Sky Platform here.