In the past decade, we've seen a dramatic shift in the way customers interact with brands. With the rise of messaging apps and voice assistants, people are now used to communicating with businesses in a more natural, conversational way. According to research, 31% of Gen Z consumers (18-24) and 25% of shoppers generally have said they’ll be using a Voice Assistant to conduct their Black Friday and holiday shopping.
Modern consumers are finding it harder and harder to find that perfect brand. With so many choices, and a proliferation of new brands being introduced every day, it can be difficult to keep up with all the latest developments. To stay relevant in 2018, companies will need to start shifting their marketing strategy to focus on personalized customer service. One way to do this is through conversational commerce - AI-powered chatbots that can provide the same information you would get from a live agent but at scale, 24/7.
What is Conversational Commerce?
Conversational commerce is a new way of shopping that allows consumers to shop and buy products through natural, conversational interfaces like chatbots and voice assistants.
This new type of shopping is made possible by advances in artificial intelligence (AI) and natural language processing (NLP), which enable chatbots and voice assistants to understand human speech and respond in natural language.
Conversational commerce has the potential to revolutionize the way we shop, making it faster, easier and more convenient than ever before.
In a nutshell, conversational commerce is the next step in eCommerce. It's a way of using technology to create an experience for customers that involves both human interaction and AI-powered technology.
While there are many different ways you can use conversational commerce, here are some of the most popular:
- Amazon Alexa
- Google Home
- Apple Siri (for iOS devices only) * Microsoft Cortana * Facebook Messenger - with chatbots on your behalf (if you're signed up to receive them).
Recommended Reading: TOP 8 STRATEGIES TO OPTIMIZE YOUR STORE FOR BRANDED SEARCH
What are the Benefits of Conversational Commerce?
There are many potential benefits of conversational commerce, including:
Faster shopping: You can shop faster using conversational commerce since you don't have to search for products or browse through long lists of items. All you need to do is ask for what you want and the chatbot or voice assistant will find it for you.
Easier shopping: Shopping via chatbot or voice assistant is also easier than traditional methods since you don't have to deal with complex menus or websites. All you need to do is ask for what you want in natural language and the chatbot or voice assistant will take care of the rest.
Increase in sales: When you use conversational commerce, customers are more likely to convert into buyers because they feel like they're getting special treatment from your brand. This means that you'll have higher conversion rates than traditional methods of marketing or advertising. For example, if a company uses an app called 'Conversational Commerce' instead of just "email," then it'll only take 1% less time for them to respond than if they used email alone (which takes 2 minutes). The result could be up to 50% more purchases per month!
Increase in customer satisfaction: Studies show that people prefer receiving personalized messages over generic ones because they feel more connected with those sending them messages; this has been proven by many studies showing how important it is for companies today not only run social media campaigns but also have human touch points within their business processes such as phone calls or emails."
How Does Conversational Really Work?
Let's say you want to buy some clothes. You go on a website, browse the page and select the type of clothes you want. It takes you to a new screen which displays a few different colors and sizes. There are plenty more pages that follow, but at the end of them, you finally make your purchase. Throughout this process, there was one thing that never existed: A conversation.
Conversational commerce is still in its early stages, but it’s growing fast. In order to keep up with the competition, businesses need to understand how conversational commerce works and what it can do for their business.
Conversational commerce is a type of e-commerce that takes place through natural conversations between customers and businesses. This can happen over chat, voice, or even video. The key difference between conversational commerce and traditional eCommerce is that the former is focused on building relationships, while the latter is focused on transactions.
The goal of this type of system is to make it easier for customers to complete their online purchases by eliminating some of the barriers that have been traditionally associated with online shopping (such as learning how to use a new website or signing up for an account).
Infact, it can be implemented using any platform, from smartphones and tablets, desktop computers and laptops, smartwatches and wearables—and even voice-controlled speakers like Amazon Echo or Google Home (which are able to recognize commands spoken into its microphone).
In other words, conversational commerce is about creating connections with customers instead of just completing sales. This customer-centric approach has the potential to revolutionize the way businesses operate. Types of Conversational Commerce
There are three types of conversational commerce: chatbots, voice assistants, and text message-based commerce.
- Chatbots are computer programs that can mimic human conversation. They are commonly used to answer frequently asked questions or provide customer support. Chatbots and voice technology are estimated to bring in $290 billion by 2025
- Voice assistants are software programs that can understand and respond to voice commands. They are typically used to perform tasks such as setting alarms, playing music, and adding items to a shopping list.27% of the global online population currently uses voice search. On a daily basis, 65% of 25-49-year-olds speak to their devices at least once, making them the most active demographic accessing voice technology.
- Text message-based commerce allows customers to purchase products and services via text message. This type of conversational commerce is becoming increasingly popular due to its convenience and accessibility.
Relevant Reading: TOP 6 STRATEGIES TO OPTIMIZE YOUR WEBSITE FOR ZERO-CLICK SEARCHES
5 Benefits of Conversational Commerce for Online Retailers
If you’re an online retailer, you’ve probably heard of conversational commerce. But what is it? And how can it benefit your business?
Conversational commerce is a new way of doing business online that involves using chatbots to communicate with customers. Chatbots are computer programs that simulate human conversation. They can be used to answer customer questions, give product recommendations, and even take orders.
There are many benefits of using conversational commerce for online retailers. Here are five of the most important ones:
1. Increased sales: Because chatbots can take orders and answer customer questions, they can help increase sales for your business.
2. Improved customer service: Chatbots can help improve customer service by providing quick and efficient responses to customer inquiries.
3. Greater engagement: Chatbots can keep customers engaged with your brand by providing them with personalized content and recommendations.
4. Increased loyalty: Because chatbots provide a better customer experience, they can help increase customer loyalty and repeat purchase rates.
5. 24/7 operation: Chatbots never sleep! They can help you operate your business 24 hours a day, 7 days a week.
Personalize Your digital Marketing Through Conversational Commerce
Conversational commerce is the future of eCommerce, and it’s something you should consider if you want to stay competitive. The technology can be daunting, but with a little research and planning, your eCommerce site will be ready for conversational commerce in no time. At, eComIntegrate, we help you stay updated and keep up to date with the latest trends.
So what’re you waiting for? Drop a line below if you want to get your hands on the latest solutions to streamline your eCommerce journey.