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How Artificial Intelligence Will Increase Your Business’ ROI

by David Kosmayer, CEO and Founder of Bookmark.com

With endless technology available at the touch of a finger, it’s never been easier to run your own business. However, to be successful, you need to know how to set yourself apart from your competitors and increase your return on investment. This process starts online, where an intelligently designed website makes all the difference.

To make your website stand out from the crowd and to ensure you’re turning visitors into paying customers, you need artificial intelligence.

Here are the ways in which artificial intelligence can help improve your website and increase your ROI for your business.

Better Testing.

Artificial intelligence makes it easier to optimize your website through testing and analytics. It not only takes the guesswork out of the equation, but quickly assimilates best practices by utilizing advanced testing and core engagement metrics.

Advanced Testing.

AI-powered testing does not suffer from the limitations of less advanced A/B testing mechanisms. Whereas A/B testing can only focus on one asset at a time by pitting two variables against one another, AI can run multiple tests simultaneously.

A/B tests function by dividing traffic into two groups, which each experiencing a different variation. The winner of the test is the group that receives the most engagement. Not only is this testing time consuming, but it also limits you to testing a single website asset at a time.

When you use machine learning, you can run multiple asset tests simultaneously. This has far-reaching advantages, as it means you can test your marketing funnel in its entirety, instead of having to focus on one variable of one section at a time. In short, advanced testing equals an untold number of testing combinations being conducted in less time, all with the purpose of making your website the best it can be.

Core Engagement Metrics.

When it comes to using AI to build your website, machine learning is able to synthesize analytics data more effectively than any human. By using core metric-weighted systems to incentivize action towards a goal, like increased conversions, AI is able to make user-based predictions to select and rearrange the sections, elements, images, text, and design styles that work best to optimize your website’s core metric.

An AI-powered website builder, first, allows you to select the core metrics you want to optimize for, then uses sophisticated deep learning algorithms and incoming traffic data to perform instantaneous changes to your website assets.

It then continues to accumulate information over time on which asset combinations are most effective by continually testing website asset changes against a nearly endless amount of possible combinations.

This function isn’t only limited to general traffic. Deep learning algorithms are able to detect individual users and group user profiles and preferences, allowing websites from specific business categories to better present their website to their audience by optimizing for individual and group user engagement.

Once you select your core metric goals, machine learning will monitor and analyze incoming traffic. It will then suggest changes to improve your selected metric. For example, if you choose the metric ‘increase adds-to-cart,’ you will see changes optimized for encouraging this action, leading to an increase in overall items added to cart and, ultimately, an increase to your ROI.

With machine learning and automation powering your designs, your website will be perfect for your business type and your individual visitor. Additionally, it will continue to evolve along with your industry and user-base, as AI and machine learning continues to analyze data and suggest optimal changes.

More Relevant Searches.

Artificial intelligence can also help you improve user experience by providing more relevant searches for your website visitors. By making the browsing experience easier and more tailored to the individual user, you will encourage them to make purchases or other decisions that will impact your ROI.

Predicting User Paths.

AI collects data such as user page visits, item selections, and website interactions to build customer behaviour analytics that help create future predictions. The AI uses past behaviour to recommend things like preferred destinations, merchandise, and much more.

This AI is particularly helpful for ecommerce businesses, as it can predict future purchase patterns and adjust the website to provide the customer with the easiest paths to purchases.

As the predictions get more accurate, you will be able to discern more insights from your visitors and will ultimately be able to provide them with a better user experience.

In the future, predictions can range from the minute details of colour, image container sizes, creative web page asset shapes, and more to ensure your website is tailored to each visitor type.

Personalized Search.

Going forward, AI will help websites be more individually curated to every visitor. This means your customers will immediately see content fitting to their interests as soon as they arrive at your site.

Machine learning’s ability to learn from previous behaviours and customize the experience means users will spend less time searching for what they’re looking for, and more time engaging with the content or products that interest them.

Artificial intelligence is paving the way for businesses to become more profitable and increase ROI by effectively learning from user behaviours to present websites that are optimized for the actions you want.

 

David Kosmayer is CEO and Founder of Bookmark.com, a website builder disrupting the future of web design with artificial intelligence. David created his first company at 22 just coming out of college. Marketing Extensions Inc., an online affiliate and marketing agency, was born from the basement of his parent’s home. This company grew under his leadership into a 55-person team, topping $60M in revenue in less than a decade.

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