Have you ever heard the saying, ‘you win some, you lose some?’ well, with a fast and effective product search and discovery solution set in place on your digital commerce channels, you can consider the ‘saying’ irrelevant to your business. Instead, consider the possibility that, with a product search and discovery system added to your website capable of helping each one of your shoppers find what they’re looking for with ease, you’re not just winning some of your visitors, but most of them.
Because the truth is, if a customer is looking for a product and can’t find it, they will more than likely look elsewhere. In fact, statics show that 52% of shoppers would rather seek out your competitors than waste further time on a site that isn’t helping them in the way they need. 40% of consumers struggle to do simple tasks in retail stores, and more than half will abandon their court if they struggle to complete their transaction. This is why your competitors are not attracting customers with flashy signs for their stores anymore, but with the right solutions that offer the best online experience possible.
To stay ahead, your online business needs to be doing the same. To stay ahead, you need the right Al products that make shopping on your site smooth and satisfying for your customers.
What is Product Search & Discovery?
Have you ever found yourself on a site with a particular goal in mind? If the answer is yes, then whether you were wanting to buy an item or to gain some insight into a product that you might have considered purchasing, later on, your purpose, at that moment, was to ‘search and discover.’
Product search and discovery is an Al technological solution that consists of two main functions: search and discovery. The first function is ‘Search’, and comes in the form of a search engine that takes your written queries and directs you straight to your goal. Often times this search engine is referred to as a ‘search bar’, something that usually appears on a company’s home page, allowing customers to type in whatever it is they’re looking for in order to be redirected to it.
The second function of this Al-powered solution is ‘Discovery,’ a crucial element to a shopper’s experience, where they get to embark on a journey to discover potential items or information that they were not aware of before. This is done through categorization through the consideration of personalized information like their age or what they did during their last visit. Through this ‘Discovery’ function, customers get the chance to customize their shopping experience with your website, allowing them to filter out all the information and products they’re not looking for so that they can enjoy sifting through the information and products they are looking for.
Why is having a Product Search & Discovery Solution Important?
Without the right product search and discovery solution, shopping online can become frustrating and a complete waste of time for most online visitors, due to their needs and desires not being met. It is simply not enough to just offer your customers a search bar alone, but rather to assume that customers do not always know what they want until you show it to them. This is where the Discovery element of a product search and discovery solution comes into play—it is the answer to your customer’s questions and the resolution to their frustrations. For lack of a better term, the Discovery function is the game-changer in the buyer’s journey.
In fact, having a great product search and discovery solution is fast becoming one of today’s most effective ways to open up more opportunities to increase conversions and build customer loyalty—by providing ways to better help your online customers get what they came for through fast and helpful AI-powered technology, you’re adding a significant element to your customer’s experience. And not only are you showing your customers that you care, that you understand what their needs are, and that you have gone out of your way to ensure that their search and discovery journey is a success, but by doing so, you’re also ensuring an inevitable spike in annual profits for your business.
How Does Having Product Search & Discovery Impact Revenue on Digital Channels?
Let’s face it, times have changed. The world has gone digital, and as a result of COVID-19, shoppers are now used to going online to have their needs and wants to be met. This new marketplace shift has forced businesses to rethink their sales strategies and to become more reflective on how best to achieve customer satisfaction and drive more sales. Because customers across demographics have adapted to a digital-first world, it’s important to re-focus your attention on digital channels. They also use their cell phones when in store to look things up, so you want to be consistent and findable for them, also known as mobile commerce.
This is why having an excellent product search and discovery solution will ultimately have a massive impact on your annual revenue. Customers will have an easier time navigating their way through your site and will experience the convenience and the quick results that AI-powered solutions offer. Customers will gain insight into what product or service you’re providing, and best of all, with the right product search and discovery solution, customers are more than likely to take action and buy.
Online, there are no salesmen, product managers, or store clerks—there are only AI systems to help guide each customer along their buyer’s journey. The better the Al system, the better the customer experience will be and the bigger the impact on your annual revenue.
How to Scale your Business: Offer your Customers Better Online Experiences with Better Al-powered Solutions
Expansion has always been a human proclivity, and in today’s age, human progression is progressing at a staggeringly faster rate—people are used to getting quick results and better solutions and they expect a higher standard of service when it comes to buying products. This is why the time has come to utilize the benefits of all this digital age offers, by providing customers with the online experience they expect with Al-powered products that meet their needs and increase your profits. Without product search and discovery solutions set in place on your website, your business stands the risk of lagging behind those who have implemented the right solutions that cater to the buyers of today.
To keep customers coming back for more, Zoovu wishes to partner with you and provide Al-powered products that change how customers interact with your eCommerce site. To learn more, get in touch today.