Conversational Commerce - explore its benefits for online businesses

Online shopping has become more popular year by year in the retail industry, especially after the COVID-19 pandemic. Studies shows that online shoppers still crave the personal touch and human interaction that they get from physical stores. That's where conversational commerce comes in.

Conversational commerce is the practice of using messaging apps, live chat, chatbots, and voice technology to communicate with customers in real time. It allows online businesses to provide customer support, product information, and personalized recommendations, as well as to process orders and payments within these channels. It offers a more convenient, engaging, and humanized way of shopping online, leading to higher customer satisfaction and loyalty.

It basically means taking your eCom and sales professionals where your customers are: Applications, Online stores, Social media, maybe even to the distributors website.

In this blog post, we will explore the benefits of conversational commerce for online businesses, and some use cases that conversational commerce can solve.

Why Conversational Commerce?

Conversational commerce has many advantages for online businesses, such as:

• Convenience: Customers can interact with your business in a way that's natural and easy for them. They don't have to navigate through websites or wait on hold during phone calls. They can simply send a message and get a quick response.
• Personalization: You can collect data about your customers' preferences and behavior, and use it to tailor your offerings and recommendations. And send a personalizized automated message based on the products the customer is looking for.
• Accessibility: Messaging apps and chatbots are accessible on a wide range of devices, including smartphones, tablets, and computers. You can reach your customers wherever they are, whether they're at home, at work, or on the go.
• Engagement: You can build relationships and trust with your customers by having real-time conversations. You can also use emojis, GIFs, images, and videos to make your interactions more fun and lively.
• Automation: You can automate many routine tasks, such as answering frequently asked questions, processing orders, and providing customer support. This can save you time and resources, and allow you to focus on more strategic activities.
• Scalability: You can handle large volumes of interactions simultaneously, making it suitable for businesses of all sizes. You can also use chatbots and other tools to provide 24/7 service, and to handle peak periods and seasonal demands.

Conversational commerce can also have a positive impact on your sales performance. According to various studies and statistics, conversational commerce can:

• Increase conversion rates by 82%*
• Increase average order value by 10-42%*
• Reduce cart abandonment rates.
• 91%* of customers globally want real-time assistance.

Some Use Cases of Conversational Commerce

Conversational commerce can be applied to various scenarios and industries, depending on the needs and goals of your business and customers. Here are some examples of how conversational commerce can solve some common pain points and challenges:

• Product discovery and recommendation: You can use conversational commerce to help your customers find the best products for their needs and preferences. You can ask them questions, offer suggestions, and show them relevant images and videos. You can also use conversational commerce to upsell and cross-sell related products, and to provide personalized offers and discounts.
• Customer service and support: You can use conversational commerce to provide instant and reliable customer service and support. You can answer their questions, resolve their issues, and handle their complaints. You can also use conversational commerce to collect their feedback, ratings, and reviews, and to thank them for their business.
• B2B: It is efficient to offer online sales behind in the customer portal or in logged in online store. Where your customer can contact their own contact person or the team.
• Lead Generation: It is also very effective for lead generation. All the deals are not made within one conversation and often the overall customer experience will bring the satisfied customers to buy.

Conclusion

Conversational commerce is a powerful way to enhance your online shopping experience, and to boost your online sales. Using messaging apps, chatbots, and voice technology, you can provide your customers with a more convenient, personalized, and engaging way of interacting with your business.

You can automate and scale your customer service, and increase your conversion rates and customer loyalty. Not to forget, it is also a highly relevant instrument in the B2B context, i.e. to help professional buyers overcome impasses in sales decision making or to blend in more smoothly into their internal communication and coordination processes.

What next?

If you want to get started with conversational commerce, contact our Advisory Services team. We can help you create a seamless and effective conversational commerce experience for your customers.

*Sources:

BusinessDIT: 10+ Conversational Commerce Statistics (Latest Numbers)

SuperOffice: 32 Customer Experience Statistics You Need to Know for 2024