Conversational commerce is the latest form of eCommerce where businesses are able to communicate via text or voice in real-time with customers. With AI being a trending tactic, the intelligence of apps is able to personalize texts, utilize push notifications, and respond through chatbots.
As a result, customers are able to have their questions answered quickly and conveniently, without having to wait for a customer service representative to respond.
Real-time communication is important for modern customers and is a fast way to build a positive reputation for your business. Whether an order needs resolving, or a customer has a question about a product, technology can help save you time and satisfy customer expectations.
Conversational Commerce Helps Combat Staffing Shortages
Staffing shortages are becoming more of a problem for many businesses. By offloading tasks onto AI technology, business owners and managers are able to manage time better and be more cost-effective overall.
Conversational commerce has the ability to be mobile friendly and can be a direct way to lead customers through a sales funnel or resolve issues quickly. Chatbots are also able to adapt to specific customer needs and can access customer data, product information, and interaction data quickly. With improved service, you are able to spend more time focusing on other aspects of your business.
Types of Conversational Commerce
Facebook research cites that the most common reasons customers message companies are to,
- Find price information
- Get an instant response
- Experience easier shopping
- Ask for personalized advice
- Negotiate offers
The research reveals how businesses can utilize conversational commerce and understand how to reach their customer base better. Types of conversational commerce include,
- Website-based chatbot
- Messenger app chatbot
- Voice assistance
- Automated text message
Each type offers different types of assistance that customers can use to make an order, reschedule appointments, or find a specific product. Automated text messages also help with managing appointments better and ensuring your customers know exactly what to expect when they come into your business.
The Growth of Conversational Commerce
In 2021, nearly 54% of retail eCommerce in the United States is expected to be generated across mobile channels. This includes Facebook Messenger, WeChat, and WhatsApp. With more avenues for customers to access products and services easily, the more you can increase your business reach. HubSpot cited that over 70% of people were more willing to use a messenger chatbot to get customer service than to activate a call. Retail sales reveal that chatbot conversations could equal $113 billion by 2023.
The pandemic has significantly changed how customers interact with products. While chatbots have failed in the past, there is a high increase in use since shopping has resulted in more mobile avenues. It is why it is important to consider the strength of your website traffic and how you interact with customers across all your channels.
Gartner estimates that nearly 70% of customer interactions will involve technology by next year. With chatbots, digital voice assistance, and messaging, customers have more access and the ability to purchase new items or reorder items they are familiar with. Consider what options your business has to embrace conversational commerce. As the economy continues to change, look at the ways you can improve customer service this year to elevate your business towards success.