Role of Chatbots in the Growth of E-Commerce Industry
In today’s digital world, most of the people stay coupled with the internet twenty fours a day, seven days a week. As a result, a vast majority of your potential customers are likely to find your business online rather than visiting your store physically. This has triggered more digital traffic and more people engaging with your business over the web. Therefore, the best way forward is to tap into the digital space by reaching out as well as talking to customers, knowing about their preferences, and making personalized product recommendations based on their preferences.
Well, this brings us to conversational AI-driven virtual assistants, more commonly known as chatbots. The online shopping cannot get more specific and more personalized than by deploying a chatbot for your e-commerce business. Yes, because chatbots can intimate humans and converse with customers, acquire information, understand problems, find answers, provide suitable suggestions, and whatnot – while being operative all day long.
Before proceeding further, there is a related read – A Comparative Analysis of Chatbots APIS – for you to understand what it takes to build a chatbot and how it works.
Disrupting the E-Commerce
Chatbots have been all the rage in recent years with all the industries realizing its potential to interact with digital customers. E-commerce is no exception. With the chatbots, e-commerce industry is now in the position to go a step further in becoming a more conversational as well as hyper-personalized business by leveraging real-time data and artificial intelligence.
With the opening of hundreds of e-commerce sites every day, although the industry is already experiencing tough competition, especially when it comes to generate leads, increase sales revenue, and providing excellent customer service. But the role of chatbot technology to the e-commerce success seems pretty inevitable in the future.
Keep reading to discover a few ways chatbots are able to shape the e-commerce shopping experience!
- Upselling and cross-selling – The AI-driven chatbots are great to let customers know about the latest collections and exclusive deals happening at your site. The chatbot technology uses the shoppers’ personal preferences, order history, and their social media activity to discover and inform them about the relevant new stock and relevant offers. By making use of upselling and cross-selling techniques, chatbots are the next big thing in product recommendation, thus attracting more customers and generating more sales.
- Personalization – As per statistical data, companies which provide their customers with an increased level of personalization are likely to outperform their competitive brands by 15-20%. This increased personalization for e-commerce can be achieved through modern chatbots, because of their ability to read and understand the customer responses and analyze the users’ browser history and past purchasing behavior.
- Ordering and payments – Complex checkout processes can be quite cumbersome for many customers, making them abandon the carts without completing sales. Chatbots carry that power to smoother ordering processing and checkouts for buyers. With chatbot, one can even make purchases with Facebook messenger. A good example is the American online floral retailer, 1-800-Flowers that utilizes chatbot technology for messenger to making the ordering and payment process efficient and pain-free.
- Customer service – A professional, super-friendly customer service is one of the major things that differentiate a business from their competitors. The modern customers, nowadays, don’t like to wait and demand constant availability of stellar customer service. This much high responsiveness is easy with chatbots. They provide immediate support all around the clock with rapid response and accurate answers – and that could be in different languages based on the user’s browser settings. Chatbots also has the capacity to answer an unlimited number of queries daily (good thing for large businesses with a broad assortment of products). They also save your business a lot of time.
Chatbots are clearly the future of e-commerce industry. The chatbot technology not only transforms the online ordering process but is also helpful to increase customer engagement, improve sales, and attract and retain customers.
When you are running a bot-powered e-commerce store, you would be able to handle multiple customers and respond to their queries at a go. It will help you reduce the CS staff as a large number of queries will now be automatically resolved by the bots.
If your business still hasn’t embraced the chatbots, it’s the right time to employ this technology and stay ahead of your competitors. You don’t need to look around to get a bot developer for you! Simply contact us and we can help with the best-in-class custom software development and e-commerce solutions.