“How to lower Customer Acquisition Costs in e-commerce? Conversational commerce”
Conversational commerce:
Conversational commerce is where e-commerce and technology intersect, allowing brands to connect with their customers in new ways, 24/7.
Gone are the days of filling out an online contact form and waiting for a response during “business hours,” or trusting in a company that doesn’t consistently engage on social media.
Personalization is key to creating and retaining loyal customers, and that’s where AI chatbots, messaging apps, and other automation comes to play.
Convenience is paramount to shoppers who want to cut through the clutter and receive answers immediately.
The majority of buyers spend most of their time online, they expect brands to always be available to provide insight, help guide their decisions, and interact in real time.
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Why conversational commerce?
Gen Z and millennials try multiple channels before making a purchase, they check social media, and e-commerce, chat with their friends for social proof, and then talk to customer care to clarify their doubts.
Today customer journeys are more complex and hence Artificial Intelligence and chat bots are helping retailers to keep their customers engaged and provide them with real-time updates.
Type of conversations commerce
- Messaging Apps
Messaging apps like WhatsApp and WeChat have become a necessity to transfer customers from your e-commerce site to a chat channel.
This helps e-tailers to reduce their cart abandonment rates.
The main objective is to provide convenience to the customers in the checkout process which sometimes is too process-oriented, filling out the forms, etc;
imagine if you could speak to virtual customer care who would take care of all the documentation.
Remember, People love to do business with People.
Providing human help and personalization is one of the boon for e-commerce retailers.
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2. Live Chat
Offering a channel designed to improve response time and customer service, live chat is software that allows users to initiate a chat session when they type a message into a pop-up window on a brand’s website.
It’s typically monitored by staff who work behind the scenes to answer questions and provide support to customers, offering a less expensive option than phone-based assistance.
3. Chatbots
As an alternative to live chat, many companies have instead decided to outsource to chatbots.
Using artificial intelligence (AI), chatbots are computer programs designed to understand customer questions and automate appropriate responses to them.
- Voice Assistants
This is useful in the case of websites that are voice search enabled.
Amazon’s Alexa, and bot voice assistants, is integrated into a website or app to help customers navigate.
The users could directly place their orders by voice commands rather than browsing through the site.
Benefits of conversational commerce
- The key objective is to remain engaged with your customers whenever they are coming onto your website.
- Build loyalty and customer experience to retain customers and convert them into your loyalists.
- Lowers your Customer acquisition costs (CAC)
