EP197: Stop Screwing Your Margin! Using AI Negotiation To Reduce Margin Sacrifice, With Nibble Founder Rosie Bailey
Tl;dr What is AI negotiation and how does it benefit an ecommerce team? How do you avoid giving away money you didn’t need to? Business controls to determine when to enable negotiation Examples of retail ecommerce stores getting results from this approach Nibble is an award-winning chatbot for ecommerce that lets customers make an offer on the product page for instant results. Nibble's aim is to nudge undecided shoppers into action, to drive higher conversions and bigger baskets, with less margin sacrifice than traditional discounting. To avoid giving away unnecessary discounts, you can program Nibble to appears only when you want it to and to specific customers. For example, you can make Nibble a subscriber-only benefit, product-specific, or trigger only on exit intent or dwell time. There are many use cases, including clearing excess stock through targeted offers and taking back control of discounting to protect margins and strike deals based on value, not just price. Tune in to listen to founder and CEO Rosie Bailey explain the thinking behind the solution and how retailers are using the product.