Conversational Commerce
With 1.4 billion people regularly using AI Assistants worldwide, Conversational commerce is a growing trend transforming how businesses and customers interact and do business. As technology evolves, conversational commerce will likely become an increasingly important part of the e-commerce landscape.
Through intelligent virtual assistants, businesses can provide personalized recommendations and assistance to customers in real-time, facilitating improved customer experience and a boost in sales. Here are some of the key benefits of leveraging conversational commerce:
- Connect with your customers on their favourite messaging platform
- Increased relevance in the post-COVID world as Contactless Commerce
- Adapt to the changing commerce habits of consumers
The Rise of Conversational Commerce
B2C Interactions
The possible channels for communication between businesses and consumers have evolved over the years. Today, brands have improved from being only functional as brick-and-mortar stores, to offering a range of choices like direct online sales, being available to customers on mobile applications, chatbots, social platforms, and much more.
Omnichannel Presence
82% of smartphone users turn to their devices to help them make a product decision
We are now at a stage where customers expect to move seamlessly between channels. They want a smooth omnichannel journey, preferably a personalised one. This is precisely where many organizations falter. Due to legacy systems, an authentic omnichannel experience is challenging to achieve on a technical level. How do businesses ensure a consistent customer experience, let alone personalization, across these channels?
With consumer behaviour trends and messaging apps becoming increasingly popular and evolving to include new technologies, conversational commerce is emerging as a way for businesses to add a human touch to their sales and marketing strategies for e-commerce. Demonstrated as a tool for quick scalability, AI assistants are implemented in several digital forms: as assistants on websites to guide visitors to the right page, as conversation partners in social messaging apps, and even as customer service agents across different channels. This enables organizations to view their interactions with customers as one continuous conversation.
Why Conversational AI?
Changing Customer Needs
Over the past decade, customer churn due to poor Customer Experience rose by 80%
Nowadays, great customer experiences enabled by intelligent technologies become the new status quo. Here are some of the ways customer expectations have changed today:
- The surge in demand for specific product categories
- Change in shopping behaviour
- Constraints with traditional shopping and delivery methods
- Shortage in human support
- The increasing trend of reliance on ‘product reviews’ and ‘social proof’
- Demand to meet momentary customer needs
- Demand for easier and quicker buying processes
Conversational AI for every stage of customer journey
“I want to buy” moments
According to research, out of 1000 people surveyed, 60% have made an online purchase between 12 and 4 AM. 43% have made a purchase within the first hour of waking up.
Today, customers are accustomed to getting everything quickly; hence, delivering exceptional brand experiences in the nick of time is more critical now than ever. In I-want-to-buy moments, consumers are immediately ready to spend their money. For businesses, these particular micro-moments are an opportunity to close the deal. To serve consumers with intent, brands need to cater to them in the spur of the moment, i.e., immediately – just like how a simple Google search serves thousands of results within seconds. Conversational AI Chatbot lets businesses do just that.
BOPIS Trend
75% of shoppers who have used BOPIS say that they are more likely to make additional purchases
Buy Online and Pick-up In-Store (BOPIS) has been a growing retail trend in recent years and is here to stay. This model applies to retail stores with brick-and-mortar businesses as well as online shops. The BOPIS model allows customers to choose their preferred products online and add them to their carts. Once the purchase is complete, they can choose their nearby store location to pick up their order. When the item is ready, the customer gets a notification. They can pick up their order by visiting the store or through the curbside pickup option for contactless order fulfilment in a post-pandemic world.
Some of the ways Conversational AI can benefit the BOPIS retail model:
- Assist customers in checking their order status and answering any further queries
- Keep track of purchases made and shipping statuses of orders around the clock
- Let customers connect with businesses seamlessly and help them pick up their orders without entering the store
- Let customers connect with in-store retail associates with whom they can resolve complex queries, receive discounts or locate an item
- Offer customers multiple payment options and sends payment receipts to their emails
- Notify customers and initiate returns, refunds, or exchanges, in case of any issues with the order
- Help customers solve post-sales queries, FAQs, or other customer problems promptly
Personalization
75% of customers admit being more likely to buy from a company that recognizes them by their name, knows their purchase history and recommends products based on that.
On the other hand, businesses that provide personalized services could retain 80% of their customer base. In the aftermath of the pandemic, consumers expect companies to demonstrate more empathy, enhance personalization and improve transparency. They demand smooth and personalized engagement at every stage of their interactions with a brand. However, delivering customized experiences to millions of consumers is a huge challenge for brands. This is where conversational AI solutions can help businesses tackle the challenge – of personalization at scale.
Introducing ParrotGPT – Your Smart AI Assistant
Time to Launch
With our low-code environment, ParrotGPT can get up and running on your website or wherever you want in less than a day. Organize your content and let Parrot take flight in no time.
Intelligent NLP
ParrotGPT is harnessed with state-of-the-art NLP solutions that have the capability to understand the context and meaning behind anything and everything that your customer says, no matter whether it is textual or vocal.
Seamless Integrations
ParrotGPT allows seamless integrations with most, if not all, of your existing CRMs/tools with the help of native APIs and opens up new horizons to deliver personalized support experiences to each and every customer.
Truly Omnipresent
Forget omnichannel, ParrotGPT is omnipresent as well. Let your customers pick up where they left off wherever they meet you while still offering support around the globe, around the clock.
A Voice That’s Human
ParrotGPT can decipher your customers’ speech with greater accuracy and intelligently respond to your customers in real time. Delight your customers with every interaction through intelligent human-like conversations – a voice filled with empathy and compassion.
