How To Fix E-commerce Conversion Rates: The AI-powered Path To Value-based Commerce — Mike De La Cruz | How Brands See 20% Conversion With AI, How AI Personalizes Shopping, How Shopify Merchants Implement AI, What The Future Of Shopping Looks Like (#385) | Ecommerce Coffee Break – The Ecom Marketing & Sales Podcast | Podwise
How To Fix E-commerce Conversion Rates: The AI-powered Path To Value-based Commerce — Mike De La Cruz | How Brands See 20% Conversion With AI, How AI Personalizes Shopping, How Shopify Merchants Implement AI, What The Future Of Shopping Looks Like (#385)
This episode explores the challenges of low e-commerce conversion rates and how AI can improve them. Against the backdrop of overwhelming shopper choices and complex online journeys, the discussion highlights the problem of high customer drop-off rates (around 80%). More significantly, the interview pivots to a value-based commerce approach, advocating for a shift from an orchestrated, step-by-step customer journey to a more curated, personalized experience. For instance, the guest, Mike De La Cruz, president of iAdvice, describes how AI-powered chatbots can proactively offer guidance and anticipate shopper needs at various stages of the purchase process, unlike previous robotic chatbots. This personalized approach, exemplified by iAdvice's "Copilot" product, has yielded impressive results for clients, with some seeing 20% conversion rate increases for AI-assisted shoppers. The discussion also touches upon the technical aspects of integration, emphasizing an iterative process and the importance of leveraging existing e-commerce data. Ultimately, this means a future where AI-driven shopping experiences become the norm, offering both traditional browsing and a more curated, personalized approach similar to in-store assistance.
