Most retail businesses rely on rules-based approaches like segmentation and personalization to optimize conversions online. By delivering experiences that are relevant to their shoppers, they can drive cross-channel conversions — at least that’s the idea. Unfortunately, it doesn’t always turn out that way. Gartner, for instance, estimates that brands risk losing up to 38% of their customers to poor personalization efforts.
AI has created opportunities to redefine how businesses build relationships with their customers. Instead of using rules to determine how to engage with different audience segments, AI unlocks a probabilistic approach, evaluating how likely a visitor is to engage with an experience based on their behavior. This selective way of doing things opts out visitors who have no intention of doing business with you so that you can focus on those who do.
Check out this guide to learn:
- A clear-cut definition of conversion rate optimization;
- How to turn customer pain points into moments of impact; and
- How AI-enabled individualization differs from personalization.
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