The rise of mobile and conversational commerce
Mobile shopping and browsing are now simpler than ever, thanks to the introduction of new intelligent gadgets and larger screen sizes.
Today, more than half of all internet traffic is generated by mobile devices. By 2021, it is anticipated that m-Commerce, also known as mobile commerce, will account for over 71% of all eCommerce.
The shift to mobile also brings messaging…
Whether for personal, professional, or commercial purposes, consumers are increasingly using messaging as their primary method of communication. In actuality, 66% of consumers claim to use shopping apps monthly, and 89% of consumers use messaging applications.
Conversational commerce is becoming increasingly crucial in e-commerce strategy thanks to the tremendous shift from desktop to mobile and from mobile to chatting.
Now what you should do is incorporate conversational commerce technology into your company because it is a sector that is expanding quickly. According to Juniper Research, conversational commerce will generate $290 billion in revenue by 2025.
What is conversational commerce?
A sort of e-commerce known as conversational commerce uses the power of one-on-one interaction to help brands make money. More precisely, it enables customers to make purchases, ask for assistance, and shop through interactive interfaces like voice assistants, messaging applications, live chat, and live chat.
Types of Conversational Commerce channels
Which channels can you use conversational commerce with now that you understand what it is and how it functions? The four main categories are messaging, live chat, chatbots, and voice chat.
There are more focused channels under each umbrella. The important ones to think about for your company are listed below:
- Messaging
- SMS
- Facebook Messenger
- Instagram Chat
- LiveChat
- Help desk
- Customer support
- Chatbots
- Artificially intelligent chatbots
- Voice chat
Although you may not immediately be able to tell which channel will have the most significant impact, it is not necessary to have this technology available for all channels at first. Testing is helpful in this situation so that you can choose which is ideal for your company.
How can conversational commerce help your brand and customers?
Engage customers with a seamless experience
Conversational commerce removes communication barriers that impede the customer experience across channels by streamlining communication. It is essential for businesses wanting to connect with young consumers, who anticipate quick, simple interactions, simple self-service, and the opportunity to complete tasks via instant messaging.
Customers can get quick, precise answers to their queries online as if they were chatting to a representative in-store by interacting with them via a messaging app or other conversational channels, whether they are researching products, making a purchase, or looking for customer service.
A further benefit of using AI chatbots in these situations is that they are available 24/7, allowing customers to ask questions and avoid waiting for responses. To guarantee a smooth transition at all times, they should also give customers the option to escalate any issue to a human agent at any moment. At that point, the agent can also view the entire interaction record up to that point.
Personalize customer journey
Customers of today demand customization. However, businesses have difficulty providing individualized, one-to-one experiences at scale. Once more, this is especially important for attracting newer generations of customers who desire a closer connection with brands.
Brands can offer this individualized help by providing conversational channels for customers to seek answers. The ability to mimic the experience and care of working with a retail employee or contact center agent is vital for companies.
As a virtual concierge or shopping assistant, for instance, an AI chatbot can respond to inquiries, provide recommendations, and aid customers in making decisions that suit their unique requirements and preferences while giving them the comfort and convenience only digital channels can provide.
Boost conversion rate and reduce cart abandonment
Conversational commerce can raise all of these indicators when appropriately used. Think about these potential applications for AI chatbots and instant messaging:
- Assist customers in narrowing their search by posing queries and locating goods that perfectly suit their requirements.
- Make offers, upgrades, related products, and add-on items available to customers considering a purchase.
- Help customers during the checkout process so they can get assistance right away if they have any last-minute queries or concerns.
- Take orders directly from clients and process them using pre-stored payment and shipping data.
- Remind customers who still have products in their carts to check out.
These conversational strategies can be applied across various platforms, including mobile apps, social commerce sites, e-commerce websites, and third-party messaging services.
The entire customer journey may be optimized with an omnichannel strategy to raise conversion rates, lower cart abandonment, and raise order values.
Improve post-purchase experience
How can you encourage consumer advocacy after they purchase your items and foster customer loyalty and repeat business? Offer top-notch customer support. Businesses use this strategy to differentiate themselves from rivals, and a conversational format can make it simpler and more accessible for clients to locate the assistance they require.
Today’s AI chatbots enable businesses to instantaneously respond to customer support inquiries through many different channels around-the-clock, at higher volumes and faster rates than human employees. As a result, customers no longer need to wait for a response, conduct independent research, or struggle to locate the appropriate location to receive answers to their inquiries.
Brands can offer superior service to all clients thanks to conversational AI, whether they have a quick query that needs an answer or a complex issue that requires a human touch.
Take away
A fascinating development in the business and technology worlds is conversational commerce.
So is the future of online commerce conversational? Yes, to answer briefly.
Why? Conversational commerce is the ideal technology to close the gap between customers and the brands they shop with since people demand more humanized experiences.
The ease of use that this provides, from reducing the need for pre-purchase research to making payments just a few taps away, will significantly expand upon the already-established foundations set by social and mobile commerce.
Conversational commerce transforms the customer experience by making it far more convenient for businesses and their customers. It does this by putting commerce into the familiar and personal environment of messaging apps.
You’re looking in the wrong direction if you’re trying to find it on the horizon in the distance because we are already in the era of conversational commerce.
