How AI based content and commerce personalization increases revenue

Helping a global brand utilize and ingrain AI practices and technologies into their various digital platforms and services to create a more individualistic digital experience, while enabling them to make data driven decisions.

In the discerning ecosystem of digital transformation lies AI at the core of each phase. Whether you like it or not, AI is here to stay. We have leading Analyst companies like Gartner and Forrester stressing on the need to change with the change and how companies should consider, lay the ground and embrace AI. If not immediately, at least in the very near future because else it will be too late.

While some CPG companies are still working to automate their stores, many other companies are already using AI and machine learning to support a variety of key retail and marketing activities focused on consumer experience. For example, companies are using AI in analytics initiatives focused on loyalty, segmentation, Next Best Offers (NBOs) and customer lifetime value.

The need for a more sophisticated and evolving model that could deliver which none of the existing tools in its platform architecture was able to offer was the need of the hour – Embracing AI

AI and the CONSUMER-PACKAGED goods Sector

For Consumer-Packaged Goods (CPG) companies, Artificial Intelligence offers huge benefits across three key areas of the value chain namely retail, operations and supply chain to improve efficiencies and drive increased productivity.We reinstated the importance and the need and application of AI, Content and Commerce and Personalization for our client and explained how future challenges could be overcome.

Why AI?

  • Continuous increased in user acquisition poses the need to deliver a more meaningful and personalized experience for their customers from a digital standpoint.
  • The traditional route of collecting user data in a customer data platform or CRM to do all kinds of segment-based marketing would not yield desired results without AI in the picture.
  • Traditional A/B testing and CMS level/basic personalization and UI/UX changes alone did not yield the results.

Why Content + Commerce?

Our Customer was focused on user engagement & acquisition as a business strategy which meant that all their digital initiatives were structured around that. Enrolment, quality articles, coupons etc. Content was the core of everything. The business strategy then brought in Commerce to the fore to build upon user acquisition with a clear focus towards bringing in revenue to achieve their bottom line. This required a strong digital platform with Content and Commerce at the core.

Our client’s business strategy was clear. Focus on bringing in the revenue from the user acquisitions built over time. Give customers an experience that will allow them to not only read but buy online too.

We then rooted to go in for a hybrid approach – that of Content + Commerce. With initial apprehensions were the reluctance to convert existing “content preferred” users to a retail customer. Would they accept? Would it give us the desired results? Would it result in our acquired users dropping off? Valid concerns. After all, customers are important.

To validate the approach suggested by Ameex, we proposed to develop a working POC to help prove the concept. The outcome proved beyond a doubt that we were right in the suggested hybrid approach showing an immediate result of unprecedented and unexpected conversion to revenue within a few weeks of the POC.

Why Personalization?

People today expect more personalized relationships with brands—and that includes CPG firms. Consumers are used to being served up content and suggestions that align seamlessly with their browsing histories “likes” and other content or products they recently engaged with online. We chose to ensure that our client did not lag and would be one of the first few to embrace digitization and its offerings. After thorough research and deliberation, Ameex decided on using AI based/Machine Learning Driven Personalization tool instead of rule-based Personalization too.

A concept that was new to the customer who was a little hesitant and found it difficult to comprehend. A POC was built to once again prove its functionality and versatility and successfully implemented this POC for a lead market and proved the power of AI driven, literally one-on-one personalization. With the icing on the cake being the implementation of a trending user experience - “Bot Commerce” enabling customers to do their online shopping using chatbots.

 

Value Delivered – Happy Client!