hen you think about sales acceleration, what is it that comes to your mind first? 🤔
Expanding your customer base and/ or retaining the existing customers. Right?
In both cases, Conversational AI is useful. If you are thinking about the hows, whens, whys, well, we are here to highlight these aspects right here, right now!
The eCommerce industry is on the rise and the possibility of it gaining momentum shortly is strong. In 2020, there was a 25.7% surge in the global retail eCommerce sales, about $4.213 trillion. And in 2021, it is expected to rise further by around 16.8% to $4.921 trillion.
Counting the zeros in a trillion? 😄
Well, that’s not what we are highlighting. What we intend to focus on is the rising sales in eCommerce which is only possible through customer retention and acquisition.
In this blog post, we will walk you through the buyer’s journey in eCommerce. And we’ll tell you how Conversational AI or eCommerce chatbots can make customer acquisition easier.
By the end of this blog, you’ll know how to use eCommerce bots to retain customers and acquire new customers. That means you get to enjoy the skyrocketing sales!
So, gear up for information flow!
Happy Reading!
Conversational AI & the Buyer’s Journey
Conversational AI is everything that works behind automation, that enables human-like bot conversations.
In the eCommerce industry, the buyer’s journey is a priority to marketers. When you understand how the customers engage, interact, and what they prefer the most, you can forge a strong customer relationship.
eCommerce chatbots can be your immediate touchpoints in the buyer’s journey. Your eCommerce bots can offer real-time services to buyers and resolve product or service-related queries.
Interestingly, the eCommerce chatbots can be on multiple channels at once, unlike the human live agents. They are omnipresent and can easily manage customer conversations across several channels.
Plus, eCommerce chatbots always work behind the scenes throughout the buyer’s journey. They remain available 24/7 and they offer pretty good personalized experiences. They gather customer data, watch their actions, and engage them whenever the time is right.
Overall, your eCommerce bot can craft a well-connected shopping experience for your buyers – from the onset till they make a purchase and give positive feedback.
Let’s get an example here:
Suppose, you have a visitor who browses through the huge collection of bags. Now, your eCommerce bot pops up and offers the best product recommendations and the best offers on bags for the day.
Konverse offers a unique Conversation Starter feature wherein your AI bot can identify what the visitor is looking for. The bot can also find out if the buyer has a high purchase intent. Hence, if your visitor has a high buying intent, reach out to them proactively making the best out of this feature and boost conversions.
Throughout the buyer’s journey, your bot remains vigilant. They gather customer information through interaction, and they keep sharing data with your marketing team.
Konverse AI’s Analytics feature lets you monitor your eCommerce bot and its interaction with customers. This feature is the key to getting insights on customer experience and to better strategizing as well.
Eliminate Friction with Conversational AI
When it comes to user experience, friction is anything that stops the users from completing the goal. Hence, friction in the buyer’s journey might interrupt the sale that was just about to get completed.
Identifying the friction points is a must before you can eliminate them. They are found in the various stages of a buyer’s journey. We have summarized a list here:
- Poor navigation
- Inconsistency across multiple channels
- Long waiting times
- No immediate customer support service
However, eCommerce chatbots can help you eliminate friction from the buyer’s journey. Here’s how the wonderous bots can handle these issues easily.
1. No More Wait Time
Customers get furious when they have to wait for getting their queries resolved. With eCommerce bots, you can give them what they want. That is a quick response to any query.
Integrating AI Chatbots across your website, social media platforms ensures that your customer queries are resolved in an instant, no matter the communication channel.
AI Chatbots are efficient in handling FAQs simultaneously across multiple channels and that too 24/7. So, while you can chill after work, your bots will be there to represent your brand to customers.
2. Quick Assistance
What if you could assist a buyer in their shopping journey? Wouldn’t that be great?
With AI Chatbots you can easily do that! 😎
Since, 80% of customers feel that the user experience provided by a brand is as significant as its products or services, providing instant customer support is essential.
With eCommerce bots, you can assist customers with their shopping. Your bot can offer product recommendations, explain the checkout process, and pop up at the right time to ask if the customer needs help.
eCommerce chatbots on your website and other channels can accelerate the entire buyer’s journey. The faster the query resolution, the better the customer experience.
For example, Amazon offers a ‘Buy now with 1-click’ facility that significantly reduces friction while making a purchase.
3. Hassle-free Navigation
Often, navigation can be a friction source. Implementing the traditional methods might make it impossible for you to offer the one-size-that-fits-all solution.
But Conversational AI can help you meet this challenge. AI Chatbots can learn from previous user experiences and with the help of the information, you can try and improve the hassle.
Plus, they can assist customers to find the products, guide them through the checkout process, etc. which is also likely to drop cart abandonment rates.
5 Ways Conversational AI Speeds Up Customer Acquisition
Acquiring customers has become easier with Conversational AI. These bots aren’t just responding to customer queries but are also closing deals with the programming done right.
So, to know how you can make your eCommerce bots acquire customers, read on.
1. Faster Lead Conversion
As we have already said that eCommerce bots can eliminate the friction in a buyer’s journey. Therefore, it helps in cutting down the noise and making the lead conversion easier.
Through eCommerce chatbots customers receive detailed product descriptions, suggestions, shopping assistance, creating an overall engaging experience. Plus, the customer’s journey to buy the product becomes hassle-free.
The result?
An ever-increasing lead conversion speed and higher likeliness to acquire the lead as a customer.
2. Lower Customer Acquisition Cost
Customer acquisition cost has been soaring high across different industries. In eCommerce, Amazon spends around $160 per new customer while eBay pays around $180.
For small businesses, it often comes as a challenge to conduct expensive promotions and rewards programs ☹.
However, with Conversational AI, you can reduce customer acquisition costs can be significantly. Plus, you can enhance your customer experience too.
So, why not invest once in AI Chatbots then incur massive customer acquisition costs every now & then?!
3. Hyper-personalization
In eCommerce, personalization holds a special place. That’s what makes you stand out from the crowd.
eCommerce chatbots can gather customer data like name, contact, email, etc., and use them for personalizing.
Personalization always has a greater impact on customers. For instance, ‘Hello John! How may I help you today?’ connects better to the customer than ‘Hello! How may I help you today?’.
Besides, with eCommerce bots, you can also send out personalized offers, discounts, flash sales to reduce cart abandonment rates.
4. Reduction in Operating Costs
According to Chatbot Magazine, AI Chatbots help in reducing customer service costs by up to 30%.
AI Chatbots reduces phone call expenses. They handle queries so well that you live agents to get rid of the long phone call sessions for resolving customer queries.
Plus, you can reduce your need to hire more customer support agents with the implementation of chatbots. Though chatbots do not replace live agents, they certainly perform routine tasks very well, without any human intervention.
Overall, providing real-time customer support, AI Chatbots do contribute efficiently towards reducing operating costs.
5. Magnified Product Recommendations
Suppose you are looking for aviator sunglasses😎
While you navigate through the product pages, you get a pop-up that presents a range of aviator sunglasses for you. Plus, you get the day’s discounts. Wouldn’t that be great?
With eCommerce bots, you can offer enhanced product recommendations to customers according to their preferences. Along with it, you can offer personalized discount schemes.
Konverse Has Your Back!
With Konverse AI’s amazing features, we can assure you that you will be able to build the best eCommerce bot.
A no-code bot-building platform, Konverse does provide you with all the resources you need to acquire customers through an enhanced customer experience.
To know more about us (and chatbots!) schedule a demo. And for more information, jump to our Help Center right away!
Ready to excel in customer experience?
Additional Readings
Drive More Sales with Conversational AI in 2021
Using a no-code chatbot for lead generation
Know why chatbot is a must-include in your marketing strategy
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