Algomox e-commerce solutions enable e-commerce companies to improve their customer experience, operational efficiency, and protect their market share.
The business world has shifted from a reactive sales process to a proactive sales process to stay ahead in the competitive world. Customer behavior is unpredictable, but understanding customer behavior is a crucial part of the sales process. When machine learning is applied to data-driven sales, it helps to discover the patterns of customer behavior and make accurate predictions of future sales. Forecasting the sales helps the organizations to find out practical solutions to improve the sales and revenue.
Online payment helps customers to pay and purchase products anytime from anywhere. Fraud transactions have grown at an alarming pace over the past few years. E-commerce industry needs to be alert and aware of the various techniques criminals use for such fraudulent activities. Identifying fraud transactions among millions of actual transactions are quite impossible. However, Machine learning can be used to build a model that can effectively and accurately identify such transactions.
Customers vary in their shopping patterns. Retailers can analyze, called market basket analysis, this pattern and check the combination of two or more items that customers are likely to buy. Machine learning effectively finds the buying pattern and association between the products they buy. Retailers can use the market basket analysis to bundle products together and improve overall sales.
Digital marketing is inevitable for a business in the online world. Most companies with an online presence leverage A/B testing, which takes two variations of the same website and tries each one with different customers. It helps to determine if any addition could improve the conversion rate. We can use conversion rate improvement to increase revenue. Machine learning can be used modeling the A/B test scenarios and predict customer behavior in terms of conversion rates to maximize the value of purchases.
Helping customers to find what they want is a crucial part of the business. Customer experience can be enhanced with the help of a product recommendation engine. Recommendation engines can boost the sales as it identifies the customer's interest in every interaction he/she makes. Our Recsys module helps to provide a personalized recommendation to your customers, thereby increasing your marketing.
Many times, your customers search around your web page for answers to their questions. There isn’t any sales guy in the online store. If we deploy the right chatbot, it can help you to answer your customer questions. It can deal with the queries from the customers who visit your website on 24 x 7, provide information regarding your products and offers, recommend the items they are looking for, resolving their issues, redirects the customers to the site for completing the purchases, etc. It enhances customer experience and boosts your sales.