The use of artificial intelligence (AI) in ecommerce expanded the horizon for many retailers and became an integral part of a successful digital strategy for salesmen. Since 2000, there has been a 14X increase in the number of active AI startups, while 84% of enterprises believe that investing in AI will lead to greater competitive advantages.
However among many AI solutions, chatbots are actually one of the most beneficial AI-powered services for ecommerce. In the context of sales, chatbots can efficiently connect a business with leads and engage the target audience.
But can a chatbot help you develop your business by making it more profitable? Let’s review the ways in which chatbots operate and contribute to ecommerce growth.
The Role of Chatbots in eCommerce
The Twilio study found that 9 out of 10 global consumers want to message with brands. This implies that retailers have to adopt a system that enables integration with social media platforms such as Facebook Messenger, or to face the risk of losing customers due to a lack of active channels of communication. That’s why for many, chatbots are more than a trend, they are the perfect time and cost-saving tool for providing the kind of service customers prefer.
Speaking about the role of chatbots in ecommerce, we have to first define what a chatbot is. A chatbot represents a messaging service that customers can use to direct their queries toward a “bot” who has an immediate and accurate response to their requests.
While some bots are quite simple and able to respond based on specific “yes” and “no” functions, more evolved bots give you access to text messages and apps such as Facebook Messenger, Skype, Viber, and others.
So, why to use chatbots in ecommerce? Consider the following facts and do the math:
- The number of worldwide mobile users is expected to pass five billion by 2019.
- The average time consumers spend in mobile apps has increased by 69%.
- Mobile buying is on the rise.
- There are no barriers to reach prospects, since installing a chatbot doesn’t require you to instal the native app.
How Can a Chatbot Help Your Business?
This is the year of customers, and if you are looking for a solution to better attract, engage, and retain your consumers, now is the right time to use chatbot technology to your advantage. Keep in mind that you can develop and integrate a free chatbot within your ecommerce website and/or merge it with a compatible messaging system. These are important qualities only the best chatbot platform can provide.
Once you get acquainted with the chatbot system, you will discover the many benefits it has to offer for your ecommerce site. It will bring your business back to the basics by putting clients first, and transform dated processes starting with:
Chatbots never sleep, which means that you will be able to provide a 24/7 customer service. In other words, the site visitors can engage in a conversation with a bot anytime they want. A chatbot can successfully resolve customer queries and identify their needs about the product.
What’s more interesting, people are often not aware of the fact that they are talking to a bot. This is because the chatbots can recognize typing patterns and adjust the conversation according to the particular customer. In addition, they can also push notifications about products, discounts, etc.
As previously mentioned, chatbots are vital for getting in touch with prospects. But beyond reaching out, they can also help you convert these prospects into loyal consumers. For example, a bot can send facts, tips, recommendations, and notifications on your business offerings to subscribers on a daily basis.
Apart from promoting products and services, the bot can also provide a link for an easy purchase. So the use of chatbots is not only a good marketing tactic, but a constant lead reminder that gives them suggestions and navigates their shopping experience toward your organization as well.
Are you familiar with the concept of cross and up-selling? Basically, they stand for increasing sales by influencing the customer’s purchase decision. Traditionally, the customer will come to the store to buy a product, but the salesperson would recommend an additional item that goes with that type of purchase or recommend another product that might be a better fit.
For instance, you go out to purchase the perfect pair of shoes, but you end up buying a pair of socks as well, or more expansive shoes than you originally intended. Now, this is hard to do online, that’s if you don’t have a chatbot. Chatbots are able to access the buyer’s history and recommend products they might like.
Also, chatbots have the power to lower the rate of cart abandonment. They will approach consumers and ask if they wish to continue with the purchase, but it’s important to remember that their use is not limited to customers only. You can also use a chatbot to make payments and simplify the ordering process.
Chatbots are the tool of the future and 64% of Americans already agree with this claim. By 2020, people will have more conversations with bots than their spouses. When it comes to ecommerce, there will be no other way to nurture sales than by leveraging the AI-powered chatbots. After all, the chatbots are here to stay, and the main reason for this is their ability to transform an ecommerce business and turn it into a profitable brand.