Top Tech Advances are constantly affecting Consumer Business. Business to consumer or B2C refers to a commerce transaction between a business and an individual consumer.
Traditionally, this term refers to a process of selling products directly to consumers. But now mostly describes the transaction between e-commerce (online retailers) and consumers.
Due to which consumer business is getting affected in an optimistic way with new technologies being introduced in the market.
There is no doubt that technology has altered the way companies conduct businesses.
Furthermore, it not only helps in improving communication but also in increasing productivity and understanding customer behavior.
Tech advances that are affecting Consumer Business
We are living in an era of futuristic technologies. However, there’s a big misconception that tech advances cannot help B2C Businesses. In this section, we’ll explore how tech advances will impact consumer business.
Impact of AI on consumer business and marketing
Foremost Artificial Intelligence will affect marketing is by nurturing leads through social media is a crucial way. I can hear the skeptic saying how?
Through content targeting and behavioral segmentation which will not only produce 20% more sales opportunities but also AI will be able to discover and start the nurturing process.
Business owners should consider implementing Artificial intelligence in their business process for more growth and efficiency.
E-Commerce Reaches New Heights with machine learning
You’ve been shopping for a new pair of shoes on an e-commerce website. The next thing you know is that your social media feed has multiple footwear ads. Which are nothing but machine learning.
As a matter of fact, this example of analyzing data based on a user’s buying history is the future for e-commerce.
With machine learning comes a lot of information and perception, allowing an individual to know their customers on a personal level which can help B2C companies understand what exactly a customer is looking for.
Integrating Chatbots giving 24/7 customer assistance
Chatbots will play an important role in the future of customer service as can they can quickly achieve customer service resolution with minimum escalations.
How many times have you been kept on hold when called customer service? Yes, it is progressively very frustrating but with chatbots in the picture, the period of being on hold is now gone.
Chatbots are the next big thing when it comes down to quick responses with superior customer experience and engagement.
Embracing this technology will not only help B2C companies in monitoring consumer data and gaining insights but also in a better lead generation and nurturing process.