Boost your on-line commerce with cognitive marketing!
23 September 2016
Faced with the competition and the challenges that on-line merchants must deal with to improve their profitability, the professionals have doubled their inventiveness in developing cognitive technologies.
Thanks to their know-how and expertise, they have taken intelligent commerce to a higher level by opening up unexpected horizons in customer experience and engagement.
Commerce and cognitive marketing propose a unique customer experience
Cognitive marketing was created out of the fusion of several disciplines such as artificial intelligence, science and the exploration of data – machine learning. However, it also owes its existence to computational neuroscience and pattern recognition. These consist of collecting and exploiting a large quantity of data sources and formats: comprehensive real-time information analysis allows a better grasp of customer behaviour, customers’ principal points of interest and their personality.
Thanks to the analysis of the terms that they utilise, the technicians can evaluate customer moods or even their level of awareness about a particular subject or product. This information not only helps create the most relevant offers for personalised products and services, but also to identify more specifically opportunities and trends in targeted markets.
Marketing managers use cognitive technologies to propose a unique customer experience. It should be noted that this cutting-edge tool with its ability to filter data that it receives and accesses extremely quickly, can pinpoint the content that suits individual consumers according to their preferences and budget.
Cognitive commerce ensures a better customer-seller relation
Another advantage of cognitive technologies is that they inject some humanity into established on-line commercial relations: these more appropriately adapted methods favour dialogue, and revolutionise selling strategy by making it more effective.
Internet users are invited to respond to precise questions which determine their needs and present a selection of items that are likely to suit them. As customers are engaged in a type of friendly dialogue, the seller appears to have a closer relationship with them and can advise them more judiciously, whilst still encouraging the purchase.
This method is much better than just a simple on-line shop where the customer is confronted by a machine which lessens the quality of their engagement. Companies that use cognitive marketing software, such as IBM Watson, are able to better satisfy their customers by providing complete responses to their questions and limiting spending on telemarketing.
Cognitive commerce measures the success of exchanges
The development of cognitive commerce will push companies to establish more relevant indicators to measure the success of exchanges. Thanks to all the information at their disposal, they are in a position to propose a better level of assistance, and make wiser decisions.
The IBM Watson software distinguishes itself by the quality of the cognitive marketing solutions that it presents: the professionals that use it can establish an exact prognosis of consumer needs even before they decide not to purchase. On-line businesses can, in this case, make offers that correspond to their expectations, thereby increasing their sales figures more rapidly.
Cognitive commerce is the technology that enables companies to distance themselves from their competitors and improve their sales: and data collection is the best means to study customer behaviour. To excel in your activity sector, you must innovate your sales platform by benefiting from cognitive technology.
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