Reports on the average American’s personal finances and financial literacy show that many Americans may be spending above their means, getting deeper into debt, and lack the necessary budgeting skills to get them by.
And while this is the golden age for getting into business, we have to deal with the reality that competition for the eyes and wallets of now money-conscious customers can be fierce.
Everyone is trying to entice the average consumer, who already has such to spend what limited money they have, on their products – making it crucial and necessary for small ecommerce store owners to do everything they can to market and grow their business.
But how does one accomplish this with limited manpower and an even more limited budget?
Our answer: artificial intelligence, of course.
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Ways to scale small business using AI
From letting us order food from our favorite restaurants on-demand to doing a complete Google search simply by talking to our phones, artificial intelligence is everywhere.
And small ecommerce businesses especially should be making the most of this to reach their customers, deliver spectacular brand experiences, and scale their businesses.
Ready to scale your small business using AI? We’ve identified 7 areas where even a small online business owner can leverage AI.
Predict marketing campaign performance
First and foremost, the effectiveness of marketing campaigns – even future ones – is no longer a matter of guesswork.
Using AI, you can make as-close-to accurate predictions as possible for future campaigns. Predictive analysis tools let you design your campaigns in ways that fit into your customers’ lives while telling your brand story.
These predictive tools can usually tell you based on insights, content audits, market analyses, and previous data which of your campaigns will most likely perform best.
Tools: Google Business Tools,
Understand your customers and competitors better
Many businesses use AI to keep track of their competitor’s next business moves and current campaigns, which can often give them better insights about their customers as well.
You can keep track of market trends, especially from big name competitors who may have wider access to tools. Leverage their knowledge and campaigns, get to know any changes they’re making in their own marketing, and use that information to adapt and craft your next campaigns.
Personalize your marketing offers
AI tools are great for personalizing marketing offers. With 77% of customers actually expecting personalized offers and content, this tactic could make or break your brand in the eyes of customers.
Many customers are willing to surrender personal data like names and email addresses if it meant getting highly targeted offers right in their inboxes. So to avoid spam filters and make the most of the trust, be sure you’re sending emails from a custom domain email.
The right AI tools can help you segment customers based on a number of characteristics, including age, gender, geo-location, previous transactions, interests, and more. Using this segmentation, it’s easier to send relevant content and offers that then helps boost customer retention and loyalty.
Improve your customer service
When you’re a small ecommerce store owner, you know you can’t compete with established brands for reach. But you can still scale your small business by giving fantastic customer service that makes customers feel truly valued.
Maximize your social media presence by integrating chatbots to improve customer service as a small business. And as your business grows, you can also think about implementing live chat straight from your site.
Streamline your checkout and delivery process
For you to successfully scale your small business, you need to lower abandonment rates. That’s why it’s important to optimize your checkout and delivery process. This means making sure it’s easy to take payments at checkout using multiple gateways, keeping customers updated about their order confirmation and deliveries.
You can also optimize your packing, delivery, and returns experiences using automation. By making your processes as simple and easy as possible, you can deliver fantastic brand interactions that can get customers coming back over and over.
Retarget abandoned carts
Cart abandonment rates across all industries is at about 70%. On mobile, that number can rise to about 85%.
Many small business owners are losing out on sales because of these abandoned carts. Use AI to help you save customer details so you can retarget them later through a cart abandonment email.
These emails can help recover up to 28% of lost sales, making this tactic an essential step for you to scale your small business.
Track your performance
Last but not least, we are far from the days when tracking our marketing campaigns felt like guesswork. Today, you can use AI to see just how well your campaigns are doing, from social media ads down to your total sales vis-a-vis site visits.
Pay attention to these metrics as they can pave the way for important insights that can help you switch gears as needed or keep pushing campaigns that are working.
Before incorporating AI into your small business
To make the most of all these steps and AI use cases so you can scale your small business, make sure you do the following to harness AI’s full power:
Review your buyer persona
Your buyer persona contains all the information about your customer that may shape, influence, and inform your marketing campaigns.
This personal contains basic demographics, their goals, and relevant pain points that are keeping them from achieving said goals.
To maximize the power of AI, it’s important to refer back to your buyer persona – so you know exactly how to set up and deploy these tools and in which tools to even invest in the first place.
Identify key areas to integrate AI in your buyer’s journey
Once you’ve revisited your buyer persona, you can then think about where you’d want to boost your business processes with the help of AI.
If you’re trying to scale your small business, you might want to integrate chatbots in their Facebook Messenger, allowing leads and customers to interact directly with a bot and even access useful information in real-time.
Small businesses trying to reach a bigger audience can make the most of programmatic advertising, letting your website or ad be seen across countless others.
You can also implement social media retargeting campaigns for anyone who’s recently viewed your website or social media accounts using Facebook pixels.
Keep your website safe and secure
Last but not least, if you’re going to be installing and integrating AI tools to scale your small business, it’s important to keep your website safe from hackers.
Most third-party apps have heavy privacy and protection for users, but it’s still good to secure your website as much as you can.
Keep admin account passwords strong, use a VPN when accessing sensitive information, and backup all data about your company.
Artificial intelligence is paving the way for streamlined tasks, better insights and projections, as well as the opportunity to scale your small business by creating more interesting marketing campaigns and products. Refer to this article for some of the most effective ways you can integrate AI in your company, and soon start scaling that small business to the big leagues.