Video content is becoming an essential tool in the digital world for online sales in the retail industry. It can be used to create a product demo, present or show how a product works, as well as share testimonials from satisfied customers.

Videos are also a great way to engage with customers and keep them interested in your products, services, and brand experiences, since they communicate a story, allowing the brand to convey emotions with the consumers.

In addition, videos can help improve your brand’s presence in search engine rankings (SEO), potentially generating more traffic and sales, and can also be shared on social media platforms, helping to reach a wider public. Here is some information about the importance of video content marketing. 

Why Video Content Marketing is Essential for your Business.

Statistics on Video Marketing.

Online shoppers are more likely to purchase items after watching a video about the product, according to recent studies. By the end of 2022, online video will account for more than 82% of all Internet traffic, 15 times more than in 2017 (Cisco).

In fact, as of January 2018, 85% of all Internet users in the United States viewed online video content on any of their devices on a monthly basis (Statista, 2018).

Videos Improve SEO Ranking. (Search Engine Optimization)

Videos can be used as a tool for SEO (Search Engine Optimization), since it helps to improve the ranking in search engines such as Google, to attract more traffic to the company’s website.

Wyzowl notes some relevant data, especially in its most recent study with video marketers: “The State of Video Marketing 2020“

• 89% say that video gives them a good ROI.
• 83% say that video helps them with lead generation.
• 87% say that video has increased traffic to their website.
• 80% say that video has directly helped increase sales.
• 95% plan to increase or maintain investment in video in 2020.

Videos Help Explain your Product and Build Trust with Your Audience.

Video content is an engaging and effective way to communicate with customers and sell products. That is why retail businesses that want to increase their online sales should invest in creating engaging product videos.

Video can be used to create an emotional connection with potential customers and show them how the product can be used. You can also help build trust by providing customer testimonials and demonstrating product quality.

Overall, video is an extremely effective way to promote products and increase online sales. By including videos on their website, retail businesses can see a significant increase in conversion rates and revenue.

Types of Video Content For Your Retail Business.

There are many types of video content that can be created for online retail businesses. The most popular types are product demos, how-to videos, and customer testimonials.

• Product Demos: These are a great way to showcase the features and benefits of your products. They can help persuade customers to make a purchase.

• Instructional: Videos can teach your customers how to use your products correctly. This may reduce the number of customer service inquiries your business receives.

• Customer Testimonials: Give potential customers the confidence they need to buy your products and services. With videos, customers can see real people talking about how your business has helped them solve a problem or improve their life.

• Vlogs (video blogs): This is a great way to showcase your products and create a connection with your customers. In addition to product videos, you can also create videos that provide information about your company or industry. These types of videos can help build trust with potential customers and encourage them to visit your site.

• Interviews: This format is becoming an increasingly important part of online sales for retail businesses. They provide a personal connection with potential customers and help build trust. In a video interview, the customer can see and hear the retailer’s representatives, helping to create a more personal connection. The customer can also ask questions about the products or services, which helps build trust.

• Sales Presentations: These are important for online retail businesses because they provide a personal touch that cannot be replicated with images or text. They help show products in use, which can be helpful in convincing potential buyers to make a purchase.

• Live broadcasts: Known as Live Selling, these videos can help create a personal connection with customers and give them a behind-the-scenes look at what your company is doing. It also helps show customers that you are a genuine and trustworthy business, and provides a sense of urgency for the purchase.

• Ads: They are a great way to attract potential customers to your website, and to show your products and services in a more dynamic way than just text or images. According to Statista, the videos had an audience reach of 91.4% of internet users worldwide. A LIGS study reveals that video ads can help increase purchase intent by up to 82%. This is because video ads allow customers to see the product or service in use, which can help them understand what they’re buying.

If you’re looking for ways to improve your online sales, consider using video ads. They are an effective way to emotionally connect with potential customers, explain your brand’s products, and differentiate yourself from the competition.

Create engaging video content.

There are a few things that retail companies can do to create compelling video marketing content.

Length: Viewers don’t spend a lot of time watching long videos, so it’s important to make sure your videos are short and to the point.

Creativity: Retail companies need to use creative videos and animations to grab the viewer’s attention. Staying on top of trends of Tik Tok and Instagram, using trending music and hashtags, among other attention-grabbing features will help businesses to have more reach on social media platforms.

Educational: Videos will be better perceived if they provide interesting and informative content, as they will be considered of greater value to viewers. Content like “how to”, checklists, and demos, will be of more interest to the audience since it is not just trying to sell a product, but to educate and inform its users.

Wrap Up.

By creating engaging and informative videos, retailers can improve their website visibility, traffic, and conversions.

Additionally, videos can help create a more personal connection with customers, which can lead to increased loyalty and spend.

Therefore, video is an important marketing tool for online sales of retail companies. It can help increase brand awareness, drive traffic to websites, and convert leads into brand-engaged customers.

Are You Ready to Make Videos for Your Retail Company?

It is vital that you have the best technology that allows you to create experiences that are worth telling your customers about.

Teamwork Commerce is a leading Omnichannel Solution, providing retailers with Point-of Sale, Order Management, Inventory Control, CRM and Analytics. They also boast an ecosystem of integrations with top solutions making unified commerce a seamless activity. Serving top retailers in over 20 countries globally including, Moose Knuckles, Colorado Rockies, Asics, Milwaukee Bucks, Catbird and Paul Stuart. Learn more at www.teamworkcommerce.com

Consumer habits have seen radical change over the past two years thanks to the pandemic and now they are in a state of flux again as the cost of living crisis bites. So how can you best operate in this dynamic environment? Jonathan Maurer offers some order management tips.

The past couple of years have transformed consumer behaviours. Whether they are comparing prices across different sites, managing pick-up for an item they would like to purchase or arranging delivery for a purchase, consumers have started to take advantage of online platforms more than ever before. 

According to a study conducted by Google, it is evident that the online shopping habit of consumers is here to stay. In the fashion sector alone, 57% of shoppers expect to shop online in the next six months. 

What’s more, a range of popular retail giants have already started to leverage these advanced systems to enhance the omnichannel experience for consumers. 

Consumers are now turning to a blended approach towards purchasing – some prefer reviewing the product online and then buying in-person, or buying online and picking up in-store, whereas others are comfortable with carrying out their transactions completely digitally. As consumer demands continue to evolve with technology, retailers must utilise next-generation order management to fulfil consumer requirements and avoid any potential pain points throughout the customer journey.

The recent surge in the cost of living will only make consumers more fastidious about their purchasing decisions. In what has become a difficult time for many consumers, retailers must continue to cater towards consumer habits and preferences to personalise and provide the desired experience. Whether it’s with faster returns or a more seamless shopping experience in general – optimising order management can enhance the customer experience. In an era where consumers have become quite selective about their purchases, a high quality customer experience can serve to be a powerful tool for retailers to retain customers. 

Simplifying order management

E-commerce has been growing for years, but the market has undergone further exponential growth specifically since the pandemic. Although through their own ecommerce platforms, retailers initially gained a surge in sales, it isn’t enough in today’s cut-throat competition just to have a standard website and app. Retailers need to ensure that their services on these applications are simple, swift, and systematic. A lack of efficient order management can cause delay in delivery or even stockouts – resulting in a bad consumer experience. The question remains how can retailers avoid these?

This is where the role of technology comes into play – brands can leverage order management systems (OMS) to automate the entire process. OMS can be directly connected to a retailer’s e-commerce platform for automatic shipment generation, with an allocated location. All this is made possible by the use of real-time data that not only saves time, but significantly boosts accuracy – creating a much more efficient workflow than if the task was to be undertaken manually.

Maximising visibility

To bridge any gaps and maintain accuracy within the entire selling process, it is essential to keep track of different areas such as point of sale (POS), customer relationship management (CRM), order and inventory management, and analytics. Typically, each of these processes will operate independently from each other. Without complete integration of each platform into one ecosystem, retailers run the risk creating friction along each stage of the customer journey and hindering the customer experience. 

Today, retailers can take advantage of advanced platforms that allow the integration of multiple processes in one place. Through this integration, order fulfilment can be simplified and made more efficient. What’s more, the single pane view through these platforms can strengthen a retailer’s offering across the entire customer journey, provide real time insights across all areas and enable quicker and more effective decision making. 

Boosting customer loyalty

In an ideal world, retailers would have a minimal number of returns to process and manage. However, returns are an inevitable part of modern consumers’ purchasing habits. According to a survey of 18,520 consumers from more than 20 countries, 55% of consumers believe that an easy shopping experience (check out and returns) plays a vital role in keeping them loyal to the brand.

Consumers expect a seamless experience during the returns process, just as they expect when purchasing items. Faster returns with a variety of options, such as quicker refunds or online exchanges, have now become table stakes. And consumers who have had a poor experience during returns with a retailer are less likely to shop with the brand again. 

Implementation of the right technology to make returns as efficient as possible is key to winning consumer trust. Modern platforms allow faster returns and automatically process refunds to consumers regardless of the channel used for purchasing. Brands can also leverage next-gen software to generate pre-approved return codes that allow consumers to return or exchange with minimal efforts. 

Gearing up for the peak

An essential factor for brands to keep in mind is that by utilising the right retail software that provides an all-in-one solution, retailers can simplify their entire operation and create a much more streamlined experience for both the user, and more importantly, the customer.

As we step into the second half of 2022, and begin the countdown to the festive season, retailers can stay prepared to make most of upcoming key dates later this year by implementing advanced technologies that automate and streamline their operations. Furthermore, insights gained now from these technologies can also enable retailers to make effective decisions during shopping days such as Black Friday and Boxing Day to ensure maximum returns for retail’s most opportune time of year.

Read more at: https://internetretailing.net/guest-comment/guest-comment-navigating-changing-consumers-habits-with-order-management/

Retail technology has become a huge part of the industry – especially over the last few years. Heading into 2022’s festive season, Jonathan Mauerer at Teamwork Commerce asks why is it so important for retailers to push the boundaries of innovation with their technology adoption?

Technological adoption isn’t new for retailers. The industry has had to continually evolve and utilise different solutions to engage with an increasing number of digital consumers. However, in today’s environment, where consumers have a profusion of online and offline purchasing options at the touch of a button, retailers must be armed with next-gen technologies to provide consumers with the best possible experience.

Historically, there has always been separate competition both within the high street and between e-commerce retailers. Now, everyone is competing with each other because technology has evolved to the point where if you don’t have both an online sales channel and a brick-and-mortar presence, you are at a significant disadvantage. Consumers are extremely demanding. They know that if one retailer doesn’t provide them with the experience they want, another will. And they will happily change loyalties.

Personalising experiences to each consumer has become the key to retaining consumers and attracting new ones. Technologies such as artificial intelligence (AI) and machine learning (ML) have become instrumental in enabling retailers to customise experiences based on consumer habits and preferences.

What technologies do you think can help retailers personalise the experience for consumers?

Solutions powered with AI and ML can help retailers analyse consumer data based on transactions, demographics, product type preferences, purchase history, loyalty programs, as well as purchase behaviours – helping them to provide an increasingly personalised experience. Technology’s role doesn’t stop at analysis, though.

With the right solution, retailers can create an all-encompassing retail solution that begins at the entry of the sales funnel and doesn’t end until the customer leaves the store with their purchase in hand. Yes, retailers have analytics, but they also have access to secure customer relationship management (CRM), order management and the correct utilisation of inventory, clienteling and mobile point of sale (MPOS).

When integrated correctly, retailers can provide their customers with a seamless shopping experience that rewards loyalty. Not only do they thoroughly enjoy their customer journey, but they have an incentive to return.

What role can these technologies play in aiding retailers to make the most of a busy festive period?

Modern retailers need to not only be capable of serving consumers across a mix of offline and online sales channels, but they need to provide an offering tailored to each customer. Consider Black Friday, the traditional curtain raiser of the festive shopping period. Every year it gets bigger and bigger, and the pandemic sent the retail industry into chaos when it realised how much shopping would be completed online that year. Last year saw more in-store sales as Covid-19 recovery continued, but shoppers were still apprehensive about visiting stores.

Now that the pandemic is well and truly behind us, we expect this year to be a complete mix of online and offline. Retailers need an all-encompassing omnichannel solution that caters to both online and offline purchases. By fully integrating all channels, retailers can understand their customers, from the very beginning. They can also be flexible in line with consumer demands, tracking purchasing preferences, allowing customers to jump between sales channels as they wish and providing an uninterrupted experience. The right system will cater to everything.

A key consideration for the festive period is taking into account how busy stores can get. A good sign for retailers but a painful one for customers. Retailers cannot underestimate the power of the in-store experience and the more boots in-store, the more opportunity for sales. But customers get turned off by long queues and busy waiting times. A user-friendly but multifeature, point-of-sale system can be essential to providing customers with a smooth checkout experience completed in seconds. The right mobile POS technology is a crucial line-buster and will allow retailers to maximise revenue while providing an amazing in-store experience during the coming months.

Read more at KDS Europe here: https://kdseurope.com/KDS-Magazine-August-September-2022-Issue/

POS (Point of Sale) Systems are vital to any retail business. However, many companies are not making the most of them, which are often outdated. 

The Point of Sale (POS) System is responsible for receiving payments, tracking inventory, and managing sales data. If your POS is out of date or malfunctioning, it can seriously affect your sales, so it’s essential to ensure your system is up to date and working correctly.

In this Blog, we present a checklist of what you should take into account in your Point of Sale System, and then we give you seven keys to improving your POS system, making the most of it, and taking your retail business to the next level.

Checklist of your Point of Sale System 

1. Is the Software Updated?

The first primary step will be to update your software to the latest version so that you have the latest updates. Many times the updates imply substantial improvements, and the current versions, in addition to offering multiple advantages for security. Updates also often indicate that the system can speak in the same language as the latest technological advances and industry trends, so it is worth making sure they are updated. 

Outdated Software can cause all sorts of problems, from crashes and security vulnerabilities. Ensure you are using the latest software version and that all updates have been applied. That is an essential step to ensure a safe and secure system. Also, we recommend checking for updates periodically and applying patches.

2. Are the Employees taking advantage of the full potential of the Software?

The ideal will be to have intuitive software that is easy to use. To get the most out of your Point of Sale system, you must train your employees on how to use it, and they should be familiar with all the features and how to navigate the system. 

Many companies assume that their employees know how to use the POS system correctly, leading to errors and lost sales. 

Train them on how to process transactions quickly and accurately, manage inventory and keep track of sales data and shipping management. This information can help you make better business decisions and improve your results.

3. Do you keep your data updated?

Keeping the data of your Point of Sale System (POS) organized and updated is vital, which will help you run your business more efficiently.

Key Areas Requiring Updated Data

1. Inventory: Make sure you regularly update your inventory in the POS system inventory. It will help you keep track of your stock and always have popular items available.

2. Sales. Make sure to classify and organize your sales data in the POS System. It will help you track trends and understand how your business performs over time.

3. Clients. Can you contact your customers at the correct times? Your POS data will be vital to reaching your customers for marketing and upsell purposes. In addition to that, you can offer birthday promotions, loyalty programs, and purchase preferences.

7 Keys to Improve your POS System

1. Invest in a modern POS system

To increase your profits is best to invest in a modern POS system that allows you to scale your business to where you are thinking is best. So if your system is already a few years old, or you’re not sure it’s at the forefront of technology, maybe it’s time to go to the next level. 

Many modern POS Systems are much easier to use and more efficient than older models. These systems are often feature-rich, can handle more significant transactions faster, update warehouse and inventory systems in real-time, and connect more sales with customers. 

2. Enhance the potential of the POS System by combining other technologies

Do not limit yourself to just an adequate POS system. An excellent POS system consider all business areas. The current needs of a retail company require combining different Software platforms to provide a better customer experience. For instance: 

• Customer Relationship Management (CRM) Systems
• Clienteling systems allow you to personalize the store experience 
• Automated marketing systems help you carry out campaigns and promotions, both to existing customers and potential customers. 

3. Keep up with the latest technology trends.

POS systems are constantly evolving and improving, running more efficiently and offering more features than ever. 

Keeping up with trends and technological advances will be essential to stand out. Today, cutting-edge retail companies are taking advantage of the best POS systems that allow them to incorporate Artificial Intelligence for conversational retail, make sales through e-commerce and social networks, and reinforce an omnichannel strategy toward customers. 

In general, a successful Point of Sale System today should drive a seamless and seamless customer experience (CX). 

4. Achieving Seamless Experiences Using Data

Delivering seamless, integrated shopping experiences across all touchpoints has become the standard expected by customers today. 

The most visionary retailers have recognized that creating and maintaining a consistent online and offline customer experience is imperative. To do this, collecting and analyzing data across different channels is critical, ultimately allowing them to gain clarity on their customer experiences.

5. Incorporate an Omnichannel strategy

Incorporating an Omnichannel strategy starts with using a POS connected to all the points of contact of the retail business. An example of this includes if a retail company sells something in its physical store, then generates online sales moments later, and the inventory is updated in real-time, so there are no miscommunications of available stock to sell.

Retailers who use POS data to connect what’s happening online and in the physical store gain a competitive advantage, position themselves ahead of the competition, and exceed customer expectations. 

Users can quickly run POS reports and discover a complete view of the retail business, from the busiest times in their stores to optimal stock levels, improving sales and customer experiences.

6. Using the potential of real-time cloud synchronization 

A cloud-based POS system is becoming necessary, as it guarantees security, availability, and performance. POS systems need to provide real-time information on all transactions, both online and in the physical store, and for this to happen, the cloud is a must. 

With the cloud, retailers can check inventory, send invoices, and better manage their employees and customers. They can also create and export custom reports helping retailers to be more efficient with their time, to the benefit of customers and the business. 

7. Open Upselling Opportunities

In addition to the POS being a destination for processing payments, it also presents an opportunity for retailers to increase their average sales. 

Taking this into account, when customers decide to buy something, your retail business can offer the opportunity to find more offers and similar products, either at the moment or later, by other means, according to your marketing communication strategy. With this, customers feel that their brands are on the lookout, offering them products and services tailored to their needs and expectations.

So, what can we conclude from a good Point of Sale System?

When it comes to Point of Sale Systems (POS), there are two levels, the basic level in which the essential requirements to make and record sales are met, and a second level that leads retail companies to stand out. 

Improving a POS system requires considering the basics, such as making sure the software is up to date, that sales staff can use it easily and get the most out of it, and that the data output from the POS system is used to generate more sales. 

However, technological advances and new customer expectations lead retail companies to aspire to another level that only POS systems can achieve in combination with other systems and functionalities.

If you are thinking of improving your Point of Sale Systems, it may be time to invest in a modern retail system that offers your company the potential of the most advanced trends in retail today. 

Update your POS with the help of experts

Teamwork Commerce is a leading Omnichannel Solution, providing retailers with Point-of Sale, Order Management, Inventory Control, CRM and Analytics. They also boast an ecosystem of integrations with top solutions making unified commerce a seamless activity. Serving top retailers in over 20 countries globally including, Moose Knuckles, Colorado Rockies, Asics, Milwaukee Bucks, Catbird and Paul Stuart. Learn more at www.teamworkcommerce.com.

As the trends of marketing continue to evolve, so does the need for retail businesses to keep up with the latest trends. And one of the biggest trends in marketing right now is influencer marketing.

In this blog we will talk about influencer marketing, so you can decide if you want to take advantage of this trend that seems to be helping retailers grow in surprising ways.

What is influencer marketing?

Influencer marketing is a type of social media marketing that uses sponsorships and product placements by influencers, to promote a brand or product. It is a form of marketing that focuses on using key leaders to bring your brand message to larger markets.

What happens in this type of marketing is that instead of marketing your brand and products directly to a large group of consumers, you can instead hire or partner with influencers to spread the word, making a positive impact with thousands, or even millions of followers of these influencers.

This strategy can be an extremely effective way to reach new customers, as people are very likely to trust recommendations from influencers they follow and respect. Also, since influencers have a lot of followers on social media they can help your retail business reach huge audiences, very quickly.

The secret to having the perfect marketing strategy it’s not just about finding a famous influencer, but about finding one who is already talking about products or services like yours, and someone whose values ​​align with those of your brand in order to generate the correct synergy with your company and your clients.

What should you know if you are thinking of Implementing Influencer Marketing?

If you’re thinking of incorporating influencer marketing into your retail marketing strategy, there are a few things to keep in mind. In general terms, you have to have previously identified your target audience and find influencers who align with the values of your brand.

Here are some tips on how to use influencer marketing for your retail business in 2022:

1. Find the right influencers for your brand.

2. Collaborate with them to create engaging content.

3. Use relevant hashtags to reach a larger audience.

4. Track your results and adjust your strategy accordingly.

How to start working on an Influencer Marketing strategy?

As a retail business, you may be wondering how to get started with influencer marketing. After all, with so many influencers out there, it can be hard to know who to approach and how to get the best return on your investment.

1. Know your audience. This is the first and most important step in finding the right influencers for your business. You must know who your target audience is and what kind of influencers your ideal client follows.

2. Find the ideal influencer. Once you know who your target audience is, it’s time to do some more research on potential influencers. There are tools that can be useful such as https://www.heepsy.com/ or you can also do it manually by going on social media platforms and checking the target audience, the followers, the engagement that the followers have with the different accounts, and the content that is posted. These must be properly aligned with your brand.

How to approach the right influencers?

Here are some tips on how to approach the right influencers:

1. Research: Take the time to research potential influencers and see if their values align with your brand. You want to make sure you are working with someone who is a good fit for your company.

2. Make an Offer They Can’t Refuse: Once you’ve found some potential influencers, reach out and make them an offer they can’t refuse. This could be in the form of free products, exclusive access, or anything else that piques their interest.

Why work with influencers?

There are several reasons why retail businesses should consider working with influencers.

1. Influencer marketing can be an effective way to reach a large audience.
2. Influencers have strong relationships with their followers.
3. People trust them and buy the products and services they recommend on their social media.
4. Working with influencers can help build brand awareness and create a sense of community around your product or service.

The benefits of influencer marketing for retailers.

There are many benefits of using influencer marketing for retail businesses. Here are some of the benefits that we found:

1. Higher reach and brand recognition.

With an estimated 4.65 billion people using social media worldwide (Statista), there’s a good chance your target customers are active on at least one of these platforms, and spend many hours a day being impacted by messages from different influencers.

With influencer marketing, they can access those audiences and get their brand in front of their ideal customers.

2. Increased engagement and conversions.

The rise of influencer marketing has led to a new way of doing things. Influencers can convert their followers into customers simply by providing them with relevant, useful, and entertaining information.

3. Improve brand perception.

Working with influencers can help build brand awareness and create a sense of community around your product or service, as well as improve the customer perception of your brand. If customers believe in your brand, they will have more confidence to buy your products or services.

How to measure success?

There are a number of factors to consider when measuring the success of an influencer marketing campaign.

First, companies should consider their goals for the campaign and what they hope to accomplish. They should also consider the target audience of the campaign and whether or not the chosen influencers reach that audience.

Additionally, businesses should track engagement metrics such as likes, comments, and overall shares, as well as click-through rates (CTRs) and conversion rates.

It is also important to note that success is different for every business. For some businesses, a successful campaign can mean increasing brand awareness or reaching a new audience. For others, it might mean generating leads or sales. As such, it is important for companies to set realistic goals for their campaigns and measure success based on their own unique definition and KPIs defined by the company.

What is the future of influencer marketing for retail?

In recent years, influencer marketing has conquered the world of advertising. By 2024, it is estimated that retail companies will spend $4.62 billion on influencer marketing (Statista).

According to a recent survey, Instagram remains the most popular platform for influencer marketing worldwide. Content creators have long embraced the app for its various photo and video sharing features.

Video-based platforms like TikTok are also becoming increasingly relevant due to their massive reach, particularly among Gen Z internet users.

While influencer marketing can be extremely beneficial for retail businesses, it’s important to keep in mind that the landscape is always changing. What works today may not work tomorrow, which is why it’s so important to stay up-to-date on the latest trends.

Conclusion

As 2022 goes on, it’s clear that influencer marketing is here to stay. For retail companies, this presents both an opportunity and a challenge.

On the one hand, influencers can be powerful allies in promoting your products and driving sales. On the other hand, working with influencers requires careful planning and execution to ensure you get the most revenue on your investment.

However, in general, the benefits of influencer marketing outweigh the challenges. When done correctly, influencer marketing can be very effective at increasing awareness, generating leads, and driving sales. As the retail landscape continues to evolve, those who embrace influencer marketing will be well-positioned for success.

Are you sure you have the right omnichannel solution?

Teamwork Commerce is a leading Omnichannel Solution, providing retailers with Point-of Sale, Order Management, Inventory Control, CRM and Analytics. They also boast an ecosystem of integrations with top solutions making unified commerce a seamless activity. Serving top retailers in over 20 countries globally including, Moose Knuckles, Colorado Rockies, Asics, Milwaukee Bucks, Catbird and Paul Stuart. Learn more at www.teamworkcommerce.com.

Artificial intelligence (AI) is rapidly becoming an integral part of our daily lives. From personal assistants like Siri and Google to online services like Netflix and Amazon, AI is essential to our daily activities. 

As the use of Artificial Intelligence (AI) has been increasing in the last years in every industry, retailers are interested in exploring how this technology can be used to improve customer experience and business operations. 

Conversational AI is particularly interesting for this purpose, as this technology allows customers to interact on time through traditional customer service channels. But, how can AI be used in retail? What are some of the benefits and challenges of using it? Join us to find out more about Conversational AI in the retail industry!

What is Conversational Artificial Intelligence, and why is it important for retailers?

Conversational Artificial Intelligence is a form of Artificial Intelligence that allows humans and computers to communicate in a natural language. This form of AI is important to retailers because it allows customers to interact with the computer in a way that is natural and easy to understand. 

This can be useful for customers who need help purchasing or have questions about a product. In addition, conversational AI can collect data and customer feedback in a way that is easy to understand and analyze, while you can use this data to improve your customer service and products.

Conversational AI is important to retailers because it allows customers to communicate with businesses on time while using an everyday language that is constantly learning, improving at speaking, and providing better service.

This type of AI can be used to answer customer questions, provide product information, and help customers place orders. It can also be used to recommend products and services and to provide customer support.

Retailers around the world are increasingly considering the use of conversational AI because it can improve customer engagement and loyalty. Additionally, conversational AI can help retailers cut costs by automating certain tasks, such as answering customer questions.

How is it used?

With chatbots?

Chatbots are computer programs that can mimic a human conversation. They are commonly used on websites and applications to provide customer support or assistance. 

Another way retailers can use conversational AI is by adding chatbots to their websites and apps to provide an interactive experience for customers. This could include asking questions about what the customer is looking for or providing product recommendations based on the customer’s purchase history. 

Conversational AI in Retail Activities

As mentioned before, Chatbots are very helpful in handling simple tasks like:

1. Searching for products

Throughout the conversation, the Chatbot can display product options based on the customer’s preferences for the product, such as price range, features, ratings, and reviews from other users. 

To do this, it’s necessary to have a well-accomplished CRM integration within the Chatbot, so it can access a database to provide customers with updated information on inventories, stocks, locations, quantities, preferences, etc.

2. Giving recommendations 

Engines built into chatbots can help retailers increase revenue and help users discover products that are a good fit for their particular preferences.

3. Locating nearby stores

A customer may want to see or try on a product found while browsing your website. Through the chatbot, this customer can locate stores with this item on stock, different models, colors, and all the information the customer wants to complete his purchase, and even the opening and closing hours. 

4. Placing orders and pre-orders

Customers can choose the product they want to buy, add their address and contact information, and place their order through the chatbot. Additionally, the chatbot can provide information about upcoming products and allow them to order them when they start shipping.

5.Tracking packages

Once the order is placed through the chatbot, the customers can ask where the package is, the date and time of delivery, as well as get information about the postal service and get the contact information on the chatbot.

6. Customer Education / FAQ

Instead of speaking with a live agent, the customer can get information from a chatbot about the product or brand, as well as the product return policy, campaigns, or coupons, in addition to also getting answers to frequently asked questions.

7. Supporting live agents

Chatbots are linked to the company database, where all the information about products, services, features, and locations is saved. If customers prefer to speak with live agents, the agents can be helped by the chatbots to find answers.

8. Sending personalized notifications

Chatbots often ask users for their contact information during the conversation. This provides an opportunity for retailers to send users updates and notifications about new products, annual or seasonal sales, as well as branch openings and events. These messages and notifications are based on a customer’s information, demographics, preferences, searches, and previous orders.

9. Managing Loyalty Points

For retailers that provide customers with points and loyalty programs, chatbots can inform the customers about the points they currently have on their cards and direct them to purchase links or promotions where they can spend their points.

10. Managing Complaints

The chatbot can register complaints online by asking about the details of the incident. In this way, data and insights can be collected through the chatbot for monitoring and policy development purposes.

11. Collecting customer feedback

Instead of contacting the customer to fill out a satisfaction survey after a purchase, a chatbot can jump into the customer’s messages and ask them to rate your product, mail service, packaging, etc. In this way, you can analyze consumer behavior patterns and improve the general shopping experience.

12. Monitoring the Customer Satisfaction and Sentiment

AI technologies can analyze all customer conversations to create an estimate of customer satisfaction with no need for the customers to spend time on surveys.

What to expect from conversational AI in the future and how retailers can prepare for it?

As conversational artificial intelligence (AI) evolves and becomes more sophisticated, retailers can expect to see a number of benefits from integrating the technology into their customer service operations. 

In particular, conversational AI can help companies improve customer engagement, increase sales and reduce costs.

However, to reap these benefits, retailers will need to prepare for the changes conversational AI will bring to customer service. 

In particular, companies will need to move away from traditional call center models and embrace more modern approaches that rely on chatbots and other forms of conversational AI. 

Fortunately, many of the tools necessary for this transition are already available, and companies can start implementing them today. 

By preparing for the future of conversational AI, retailers can ensure they are ready to take advantage of the many benefits this technology has to offer as it continues to expand in the world of retail. 

It is important to remember that humans usually want another human to assist them if they have more specific questions or if they want a more personal accompaniment. Don’t forget that this option must always be present. 

Are you ready to take advantage of AI Conversational Retail? 

Teamwork Commerce is a cloud-based Omnichannel Point of Sale Solution, offering integrated OMS, Inventory Control, CRM and Analytics. The world’s leading retailers use Teamwork Commerce to create a customer-centric omnichannel experience, drive sales and achieve frictionless commerce. 

Take a look at how Teamwork’s functionality, scalability, partners, and integrations set us apart. Get answers to your unique questions, and find out why Teamwork is the right fit for your retail business.

For more information, visit: 

https://www.teamworkcommerce.com/demo-request/