What is necessarily missing in today’s eCommerce or Online Shopping is a Salesperson with whom an end customer can negotiate and bargain. Salesperson has been moved out of picture with an era of large retailers with fixed discounts and promotions those are predetermined in their respective systems by Seller’s Sales Teams. The word DEAL has become “NO FUN” as one sided affair with only choice to customer being either take it or leave it. This same format of “Sale” got extended to eCommerce as well. We have to bring back “FUN” and make a “DEAL” look like a two way interactive affair with giving more choice to customers by elevating his/her experience as a Negotiator and a Deal Maker.
AI can play a crucial and pivotal role here by eliminating predetermined sales and promotion events yet still keeping company profit margins intact with price range being intelligently determined during the Holiday Season, Special Events or even day to day Online Sales.
Use Case: Mobile App customer Lissie selects a particular model of a Refrigerator and clicks a button to talk to as Sales Person (in this case it is an automated voice driven bot)
Alex (Sales Person):
Greetings Lissie! I am your Sales Contact and my name is Alex
Which of the products are you interested in today?
1). <brand name> Refrigerator Model XL100
2). <brand name> Refrigerator Model XL204
Lissie: I am interested in product 2).
Alex: Thank you! Lissie for your confirmation, you are interested in 2). <brand name> Refrigerator Model XL204.
What are you looking for in this product?
1). additional information
2). Price / Offers / Promotions etc.
3). Others
Lissie: I am interested in Offers
<Barg-AI-n Engine> bot gets triggered
Alex: That’s great to hear Lissie! You know what, we have the right deal available for you based on your choices and interests. On your choice of 2). <brand name> Refrigerator Model XL204, we have an offer of $500 less on MRP plus $20 additional discount for mobile App shopping. You will also be eligible for Scratch and Win offer as you checkout. Please confirm so that I can apply mentioned discounts.
Lissie: Alex thank you for the offer, however I am looking a bit more than $20 discount. Your $500 offer is already advertised on Site and there are other websites as well giving a similar deal.
Alex: No worries Madam, I will do my best as you being our regular customer let me double the discount to $40 and as well as add a gift of custom <brand> magnets and additional food tray that will cost you $60 on accessories if you wish to purchase separate. Hope we can call it as a DEAL?
Lissie: Thank you! Alex. It is a DEAL
— conversation continues as Alex adds agreed items and promotions to the Cart for Lissie to checkout
Barg-AI-n Engine (Bargain Engine) is a negotiation engine that will use AI thus allowing an Online Shopper to negotiate with the eCommerce Application (Website or App) using either Chatbot or Conversational Commerce thus providing enriching and satisfying experience equivalent to purchase made at traditional shops. AI will have sales data fed in for the past years, company sales target for the current years, required margins to ensure profit during a negotiation, price lower and upper limits, opportunities to cross-sell, up-sell, accessories/related or similar products /Services bundling such as to strike a deal and successful Cart checkout.
Potential Benefits of Barg-AI-n Engine:
- Elevate customer as a negotiator and a deal maker – Improved Customer Experience
- Opportunity of making a deal on one or more product sales – A fewer Cart dropouts
- Targeted customers using Personalization Engine and Barg-AI-n Engine logic to a segmented audience – Extreme Personalization
- Enhanced B2C or D2C customer experience as negotiations is very much necessary for survival of both the businesses – Sustenance of Businesses
