AI is a hot topic and for good reason. It’s completely changing how we operate in our day-to-day lives, but more importantly, it’s changing the way we do business too.
Automation is freeing up valuable time that was once spent on market research and customer service, helping businesses and their teams focus on other tasks.
This is not to say that there is no longer a place for the attention to detail and personalized experiences that a human can add to the customer journey, but AI is certainly allowing for more speed and efficiency.
Artificial intelligence has become particularly prominent in the eCommerce space, with conversational commerce being the go-to tactic - this is what we will unpack today.
Conversational Commerce Explained
Conversational commerce involves the use of chatbots and messaging apps to better facilitate transactions between customers and businesses.
This type of technology uses artificial intelligence as well as natural language processing to generate automated conversations that help businesses understand the needs of their customers and it gives them the ability to recommend products and services too.
Using conversational commerce technology, businesses are able to provide customers with a more personalized and convenient way to shop wherever they are. It also makes it that much easier to offer speedier customer service, which has the knock-on effect of cost reduction.
Along with recommending products and assisting customers with queries, conversational commerce technology can also be used to help shoppers complete purchases and even book appointments.
How Your Business Could Benefit from Conversational Commerce
Here are just a few of the ways that your business can benefit from implementing this AI technology.
- A more seamless shopping experience. Through the integration of messaging apps, you are able to offer customers an easy and convenient way to shop. Shoppers can get the support they need without having to pick up a phone or craft an email.
- Personalization. When it comes to effective marketing, personalization is the name of the game and conversational commerce takes this one step further. Using data and other insights, AI technology can help your business better understand customer preferences and behaviors, creating a more personalized experience your customers will truly value.
- Cost reduction. When certain aspects of the customer service and sales process are automated, it improves efficiency and reduces costs. Conversational commerce eliminates the need for employees to spend time answering FAQs and processing orders.
- A competitive edge. Conversational commerce is only just gaining momentum, making this the ideal time to get in on it and stand out from your competitors. Having the ability to offer a seamless, personalized shopping experience with memorable support is what helps build brand loyalty.
- An engaging encounter. Customers don’t want to feel like just another number, which is where conversational commerce can help by offering a more interactive and engaging encounter with your business.
Overall, conversational commerce makes good business sense on multiple levels, particularly as more customers come to expect this kind of experience online.
Examples of Websites That Currently Use Conversational Commerce
Even though AI technology is still a new concept to many businesses, many of the well-known brands are already using it to their advantage.
- Domino’s Pizza. To make it even easier for customers to order their favorite pizzas and track their orders, Domino’s has added a chatbot to its website and has a messaging app.
- Sephora. In an effort to help customers understand how to use their products and which products they need, Sephora implemented a chatbot on their website and offers messaging capabilities.
- Mastercard. Brands like Mastercard receive a lot of customer queries daily. To provide a faster and more efficient service, the brand uses AI technology to offer financial advice and recommend products.
- H&M. Even though this clothing brand has physical stores, they still receive a large number of orders online. The site’s chatbot and messaging app makes it easier for customers to find the right styles and sizes, complete purchases, and ask questions regarding their orders.
- Amtrak. With the help of AI, Amtrak customers can plan their trips, source tickets, and get real-time updates online and via a messaging app.
- Lyft. Brands like Lyft were one of the first to use chatbots to help customers find and book drivers, and get live updates on their location.
These are just a few examples of businesses that are currently upgrading the customer experience using conversational commerce, with new businesses implementing it every year.
How to Get Started with Conversational Commerce
Adding AI technology to your business processes is easier than you might imagine. Here are the steps to follow.
- Get clear on your goals. Before you get started, it’s important to identify your reasons for implementing conversational commerce. Is increasing sales your top priority? Perhaps you want to reduce costs. Enhancing customer engagement is another common reason to go this route.
- Select a hosting platform. Next, you will need to decide where you want to host your chatbot. Some of the more popular options include Chatfuel, Botsify, Intercom, and ManyChat. Other alternatives are WhatsApp and Facebook Messenger.
- Outline the chatbot tasks. You can now move on to deciding what your chatbot’s functions will be. This could be anything from answering frequently asked questions and completing orders to helping customers find products that meet their needs. Naturally, you want these tasks to relate to your goals.
- Develop the chatbot. If you don’t already have an in-house developer, you will need to work with one. This is because not all conversational commerce platforms are visual builders. In some instances, some coding is required, especially if you have very specific customizations and capabilities in mind.
- Testing. Before you can go live with your chatbot, testing is required. Mimicking customer queries and requests is the best way to test and refine before you can start using the bot. In fact, even once you launch, it’s important to keep learning from customer inputs to continue refining and enhancing the experience.
- Launch and promotion. The final step is to not only launch your chatbot but to promote it too. Make new and existing customers aware of the capabilities and where to access the bot.
In Closing
While conversational commerce does take some thought and time to implement, the benefits are far-reaching. Building brand loyalty has never been more important with the online space being as competitive as it is, making this a sound investment in your business.
