The good old-fashioned method of engaging in a friendly conversation with customers always does wonders for sales conversion. The flourishing field of eCommerce has integrated this interactive and productive method of conversational commerce into its digital platforms. This practice of leveraging social interactions to sell products online with the aid of custom ChatBot development is gaining popularity among new-age customers.
In addition to the popular messaging apps like Whatsapp and Facebook, AI chatbots and voice assistants are playing the role of potential carriers for effective conversational commerce on digital platforms. A well-structured conversational AI platform helps to initiate a friendly rapport with customers, helping them build a trusted connection with your brand. The advent of conversational commerce is an area that needs immediate attention if you wish to stay ahead in the global market.
What is conversational commerce?
Conversational commerce refers to the method of utilizing digital interactions between customers and companies to sell products and services online. It is also known as chat commerce or conversational marketing, and it makes use of chatbot solutions to build a connection with customers.
The conversations occur through different modes like chatbots, voice assistants, or messaging platforms. The main advantage of conversational commerce is that it helps customers find solutions faster without getting entangled in complex steps.
Types of conversational commerce
Conversational commerce is considered to be the future of eCommerce, and it attempts to bring a personal touch to the otherwise dormant online business world. Conversational commerce is available in different forms. Here are the major types:
- Messaging apps
Customers use messaging apps like Facebook Messenger or WhatsApp to engage with the brand and get access to instant information.
- Chatbots
Chatbot is the software that supports a conversational AI platform that is compatible with multiple customers at the same time.
- Live chat
Live chat is one of the most popular ways of implementing conversational commerce wherein customers talk to the brand representatives through a real-time tool.
- Voice assistants
Voice assistant, is a type of advanced software that engages with customers using voice commands. Popular voice assistant tools include Google Assistant, Alexa, or Siri.
Checkout NeoBot – An AI-based chatbot solution that uses NLP and ML to automate the online chat process with website and mobile app users.
Benefits of conversational commerce
Conversational commerce allows customers to experience a real-time talk with online vendors and brands before buying products online. There are numerous benefits of conversational commerce to customers since it prioritizes their satisfaction and convenience and thus leads to the success of a business.
Here are the main benefits of conversational commerce:
- Builds brand trust and loyalty
The conversational platforms allow brands to build a strong connection with customers through instant chatbot solutions.
- Personalized customer experience
The live chat and automated messaging options provide users with a real store shopping experience with personalized options.
- Prevention of cart abandonment
With the implementation of customized chatbot options, brands can send messages encouraging people to revisit their carts and complete the remaining procedures.
- Increased business revenue
By building a trusted connection, the brands could convert their potential customers into leads and further add to the business revenue.
- Genuine customer feedback
The messaging apps, chatbots, or live chat options can be employed as a tool to garner genuine customer feedback.
How to get started with conversational commerce?
It is evident that conversational commerce is the future of commerce, and it needs to be explored further to achieve success in the thriving digital market. There are certain factors to be considered before implementing a successful conversational commerce strategy for brands or businesses:
- Fix your business goals
- Find the customer type
- Choose the right platform
- Measure success rates
Ways to build effective conversational commerce
There are different ways to build a strong and effective conversational commerce platform for your business.
- Integrate live chat platforms
The first and most important step towards building an effective conversational commerce strategy is the incorporation of live chat options. It offers customers a platform to voice their queries and concerns at their convenience without being physically present at the store.
- Introduce custom chatbot solutions
A crucial part of devising an effective conversational commerce strategy is the custom ChatBot development that allows businesses to offer personalized and unique customer service. This automated platform helps customers get rocket speed answers to their long list of queries.
- Find the right platform for target customers
Since there are several options available in the digital space to kick off the journey of conversational commerce, it is important to identify your target customers, their preferred platforms and preferred mode of communication before building a customized platform.
- Track progress and update frequently
One of the ways to ensure your conversational commerce track is going the right way is by measuring its success rate and comparing it with previous results. You should be aware of the changing customer preferences and demands and make suitable changes to your conversational AI platform.
Successful examples of conversational commerce
Many companies in contemporary times have climbed the ladder of success by implementing effective conversational commerce strategies. Here are some real-world examples of successful conversational commerce:
- Starbucks
One of the most popular names in the modern business space, Starbucks has adopted a conversational commerce strategy to boost sales. It introduced a messaging application that used bots to receive and respond to the voice commands of customers. This innovative method was a constant hit among customers who were able to save time and effort.
- H&M
The clothing retail giant has included new and advanced conversational commerce tools and chatbot solutions into their shopping sites. They have introduced a highly personalized KiK chatbot to interact with customers and know their real-time preferences. The chatbots pose a set of multiple-choice questions to the users and use their interactive answers to help them shop efficiently.
- MamyPoko
We worked zealously with MamyPoko to create a strong eCommerce experience for their customers, so they could easily browse or purchase through their product catalogue. Now to give the website a more humane touch, we powered the website with our intelligent chatbot to improve the user experience.
Here’s how it worked for Mamypoko
- Intelligently recommends buyers with products based on different inputs.
- Buyers can browse the product catalogue while having an engaging conversation, which ultimately improves the conversion rate.
- It also very swiftly recommends about latest offers and promotions.
Be part of the future of eCommerce
The future of eCommerce is right here, engaging with customers through a conversational AI platform and providing them with personalized solutions. It is high time businesses include this automated technological advancement to build a loyal customer base and double sales conversion. You should start embracing the future by employing popular conversational commerce platforms and custom ChatBot development apt for your business.
FAQs About Conversational Commerce
Q. What is conversational commerce?
A. Conversational commerce is the practice of engaging customers in a dialogue, using chatbots, messaging apps, or live chats, to facilitate online shopping and enhance customer experience.
Q. How does conversational commerce benefit online businesses?
A. It improves customer engagement, offers personalized shopping experiences, increases customer satisfaction, reduces cart abandonment, and ultimately boosts sales and revenue.
Q. What are some popular platforms for conversational commerce?
A. Popular platforms include messaging apps like WhatsApp and Facebook Messenger, AI chatbots, and voice assistants like Google Assistant, Alexa, and Siri.
Q. Can conversational commerce lead to increased customer loyalty?
A. Yes, by providing personalized interactions and quick responses, conversational commerce can significantly increase customer loyalty and brand advocacy.
Q. How does conversational commerce integrate with existing ecommerce platforms?
A. It can be integrated through APIs and software development kits (SDKs), allowing seamless communication between the ecommerce platform and conversational interfaces.
Q. What role do chatbots play in conversational commerce?
A. Chatbots automate customer interactions, handle queries, offer product recommendations, and assist in the shopping process, enhancing efficiency and user experience.
Q. How important is mobile optimization for conversational commerce?
A. Mobile optimization is crucial as most conversational commerce interactions happen on mobile devices. Ensuring a seamless mobile experience is key to its success.
Q. Can conversational commerce be used for customer feedback and support?
A. Absolutely, it’s an effective way to gather customer feedback and provide instant support, resolving issues and improving the overall shopping experience.
Q. What are the key elements of a successful conversational commerce strategy?
A. Key elements include understanding customer preferences, implementing effective AI technology, maintaining a conversational tone, and constantly analyzing and optimizing interactions.
Q. How does conversational commerce personalize the shopping experience?
A. It uses customer data and AI to understand preferences and behaviors, providing tailored product recommendations and a more personal interaction, similar to an in-store experience.
About Author
Hitesh Dhawan
Founder of Neuronimbus, A digital evangelist, entrepreneur, mentor, digital tranformation expert. Two decades of providing digital solutions to brands around the world.