Social Commerce

Chatbots are AI-driven bots helping in real-time customer service by answering customer queries and providing customers with personalized product recommendations, ordering, and even updating the customer with the status of booked and purchased products. Businesses, through the implementation of Chatbots, can be able to:

As Benjamin Benchou, CEO of Drop, discusses in the podcast Market Scale, Open AI - ChatGPT is doing a brilliant job at generating on-point content for their clients on social media platforms to score better engagement with their consumers. In combination with previous purchase history, current nature of interaction with a brand, and a user's behavior, they can now trigger more hyper-focused messages on social commerce platforms to interact with the consumer.

AI is also a lifesaver not only for creating content but for brands always in the chase for ideas to keep their content pipelines flowing with new content assets, all aimed at keeping their social media followers hooked. So, detailed and suitable prompts to AI will bring about unlimited hyper-targeted content assets in resonance with the customers.

We all know keyword search, where we give a keyword to the search engine and ask for relevant information. More precisely, what Google does for us. However, AI goes beyond that. Customers can either take a picture or simply upload it. AI looks for relevant product information based on the image.

Socializing with commerce is something customers very much like. They internalize the personalization that social commerce brings in. For giving customers this personalized experience, brands bring into play AI for analysis of data such as past purchase history, browsing behavior, and past interactions with the brands to provide personalized product recommendations.

For example, a feature that Amazon has—"customer who viewed this also viewed this"—is an excellent case of recommending products to the customer based on his previous interactions with the brand and transaction history.

AI models can help assure you of the safety and security of your social commerce business. For example, AI helps detect inappropriate content or fraudulent transactions. Yet another usage area is threat detection: credential stealing, fake profile creation, and customer data protection.

One of the biggest advantages of AI is streamlining business processes. So you can leverage the technology to automate your sales process, like sending reminders on cart abandonment.

AI is changing the face of advertising. Where traditional advertising followed a one-size-fits-all approach that really did not find a pulse among all, AI has a totally different way of doing things. The algorithm analyzes user data and recommends content, ad format, and targeting strategies for different users. There are higher click-throughs and conversion rates in this way, translating to maximum sales and profit.

According to a report, Microsoft CBO Philipp Schindler said that AI is already using smart bidding, whereby AI predicts future ad conversions and their value. He went on to add that this will help businesses stay responsive to the rapid shifts in demand.

On the other side, Facebook's CEO Mark Zuckerberg said, "Monetization efficiency of the company has doubled in the past six months as AI continues to make inroads in the company's key advertising business. Advertisers saw 20% more conversions than in the year before."

If you have ever shopped on Edge, you would have faced some or other problem while clicking through to the brand site. And if you are nodding, be assured that you are not alone in this. According to our research, 86% of online shoppers were bugged by this problem.

This translates to a bounce rate as high as 72% and a conversion rate as low as 50%. It's high time brands did something about it. Enter Edge storefronts. Edge storefronts provide a shoppable experience in which content comes from the Edge while checkout is smooth. How does an Edge storefront Work?

Edge storefronts provide branded site experiences across social channels. They are tailored to the requirements of the channel and get optimized on a continuous basis. The updates occur in real-time with constant promotions through new posts. Optimization happens with the help of AI that helps in minimizing the bounce rate and maximizing conversions.