The exchange of goods and services is a concept that is central to our both history and modern society. While the core concepts of buying and selling have held up over time, the methods and approach to each has changed drastically over time. As technology advanced, it has become a pillar of modern selling. By understanding the differences between the old school and modern approach to selling, you will be better equipped to effectively reach customers in the modern age.
The Old School Approach
In the past, consumers had to seek out brick and mortar locations anytime they wanted a product or service. Before the rise of the digital age, consumers relied on word-of-mouth for their recommendations and businesses primarily sold to locals. Customers only had access to the items that were in the locations they could physically attend. It was difficult for businesses to promote themselves outside of their local area.
Even after the development of eCommerce businesses, many were stuck in an old school mindset when it comes to selling. The old school approach sticks to traditional selling methods and ignores the goldmine of customer behavior. Selling on the big marketplaces like Amazon and eBay can be great for business because those sites already have an existing pool of buyers. However, the space is competitive on major eCommerce sites. If you stay with the old school approach to selling, you will not thrive in the eCommerce environment.
The Modern Approach
The rise of technology and the internet has transformed how businesses sell and customers buy. eCommerce companies with online stores and websites can sell to customers anywhere in the world. The internet allows businesses and customers to communicate worldwide. eCommerce businesses can reach potential customers on a global scale, giving them unparalleled access to new customers.
eCommerce has made both buying and selling easier and more convenient. According to Statista, eCommerce sales are projected to surpass $600 billion this year, with US eCommerce accounting for $100 billion in sales. By selling across multiple channels online, eCommerce businesses overcome geographical limitations, reduce overhead costs, offer more information to consumers, and are open 24/7.
Although the modern eCommerce approach to selling has made the process much easier, there are still some challenges to running an online store and online website. Companies of all sizes face obstacles selling online. Developing a successful eCommerce business is a difficult task. Luckily, harnessing AI technology can make the process much smoother.
AI Driven Commerce Solution
By using AI, your online business can master the modern way of selling. AI (Artificial Intelligence) can be used to determine the customer browsing behavior or pattern. After assessing customer behaviors, you can segment visitors based on their patterns. Visitor segmentation is a powerful tool that allows your online website to identify and communicate with visitors based on their individual behavior. Visitor segmentation considers the customer journey, past conversations, geographical location, browsing behavior, referral page, and more. This way, you can send targeted messages based on the specific customer. Personalized, targeted communication is more effective in converting customers because it anticipates their needs. By using visitor augmentation, AI helps you provide personalized offers and a more effective stream of communication. AI will benefit your online business in many ways including:
- Data on product features and customer feedback.
- Receive current market needs mined from social networks and transactions which are then filtered to arrive at features for products.
- Automatically list products across thousands of physical stores and online marketplaces with an AI optimized engine.
- Using deep learning neural networks that are constantly learning, AI calculates price based on brand value and market forces.
- Manage orders and shipping decisions across all channels.
MobilityeCommerce and AI Integration
MobilityeCommerce now provides a top-of-the-line AI driven Commerce Solution with a Trusted and Traceable Block Chain ecosystem. We are a Saas based marketplace and enterprise ERP platform that helps you sell worldwide on the biggest marketplaces like Amazon, eBay, Sears, Rakuten, Overstock, Walmart, and other eCommerce platforms. We use AI to help your online store reach billions of customers while avoiding the challenges of eCommerce. With 300+ integrations across the Commerce ecosystem, we are the one-stop solution for modern selling. As part of the new NVIDIA Inception program, we have implemented machine learning pricing & demand forecasting and AI prediction & recommendation engine as two new features. Through AI and automation, our ERP platform will is the one-stop eCommerce platform for your online business. Manage all aspects of your eCommerce business with MobilityeCommerce. Schedule a complimentary product demo today by calling (408) 498-5175, sending an email to email@example.com, or visiting our website HERE.