Will Chatbots Revolutionize E-commerce?

Will Chatbots Revolutionize E-commerce?

24/7 services are pretty common these days, no matter whatsoever business you commence. Whether you are in the education industry, healthcare industry, media, and entertainment, finance industry, or eCommerce industry, every business is compelled to provide 24/7 services to the end user. One of the best and easiest eCommerce trends to stay in touch with your end users is by using chatbots. The following post simply emphasizes how chatbots have the potential to transform your eCommerce store or up your eCommerce game in no time.

What is a Chatbot?

As the name implies, a chatbot is basically a computing program that tends to stimulate interactive conversations with the end users. These bots use natural messaging language to communicate with the end customers to offer them prompt replies. Whether you own an eCommerce store or a messaging application, chatbots can be used everywhere and at any point in time. In fact, with time passing by it has been observed that end users in both B2B and B2C environments tend to make the most of these kinds of bots, virtual assistance for conducting tasks such as tracking their orders, knowing the refund status, getting in touch with the customer service executives and so more. 

Some of the common synonyms of a chatbot include talkbot, bot, IM bot, interactive agent and the list goes on. For me, chatbots are one of the most progressive technologies that have made digital platform interactions pretty simple and effective. I am sure you must have used these best examples of chatbot technology such as Amazon’s Alexa, Google Assistant, messaging apps, WeChat, Facebook’s messenger, and whatnot! 

So basically the automated program assists businesses irrespective of their size and industry verticals to interact with their end users in no time. It really doesn’t matter what time it is since they are available 24/7 and there are geological barriers. And above all, you no longer have to keep your employees working round the clock. 

Types of Chatbots

Further, I would like to mention some of the common types of Chatbots that are being used day in day out across the globe. 

#1 Rule-based Chatbots

Another significant name for rule-based chatbots is decision-tree bots. Now as the name suggests these tend to use a series of predefined rules and regulations. Some of the core attributes offered by these rule-based chatbots include: 

  • Tend to follow predetermined rules 
  • Using bots for simple scenarios becomes pretty easy
  • Interactions made using these kinds of bots are worth considering 
  • Also, they tend to support customers to a great extent
  • These kinds of bots are ideally suitable for handling inquiries during business hours, delivery status, and track all the relevant details. 

#2 Conversational AI chatbots

Apart from rule-based chatbots, we have conversational AI bots. These types of bots have the ultimate power of machine learning and NLP. Now, why is this needed? Well, to understand why the question is asked or what is the ultimate intent behind it before formulating any type of response. The more you use these kinds of bots, the more they tend to get better and learn how to interact effectively with the end users. Some of the core attributes offered by these conversational AI chatbots include: 

  • A better understanding of the intent and then formulating a relevant answer.
  • Here you get predictive intelligence and proper sentiment analysis to understand customers as well as their emotions easily. 
  • These kinds of AI and machine learning bots tend to learn more from user behavior and ensure personalized conversations. 

Further below I would like to mention certain benefits offered by these chatbots. And eventually, you will know why more and more businesses are found adopting the chatbot strategy and how they are highly recommended to acquire the attention of customers as well as retain the old ones. 

How are these Chatbots beneficial?

Here down below I would like to mention some of the core benefits offered by these chatbots. 

  1. No need to wait – One of the obvious yet crucial benefits of considering these chatbots is that customers no longer have to wait for the response to their raised query. In fact, more than 25% tend to stick to a particular eCommerce store because the chatbot is pretty effective and provides relevant solutions within no time. Above all, the immediate response is something that is adored by today’s impatient customers. 
  2. 24/7 services – Another crucial benefit offered by these chatbots are they offer 24/7 services. Bots in general tend to engage with the end users on an immediate basis by answering common asked questions. So even if you want to seek assistance in the middle of the night, bots can work wonders. 
  3. Amazing customer engagement – Another benefit offered by these bots is that they offer amazing customer engagement. There are times when customers may not be able to bifurcate between a bot and an actual person. Since here they receive personalized recommendations, proactive conversations, and an overall amazing experience. 
  4. No additional costs – Here customers don’t have to pay anything to seek assistance from these chatbots. Not just customers but even businesses can save a lot since they no longer have to hire more resources or infrastructure. 
  5. Increased Sales – Next advantage of using these chatbots is that with more and more customers being satisfied, there are more chances of increased leads and sales. All you have to do is make sure that these chatbots direct the right team for further nurturing. 

In addition to all this, you get straight answers, easy and seamless communication, resolutions to basic complaints in no time, great customer experience, detailed and expert answers, friendliness and approachability and so more. 

How do Chatbots seem to have revolutionized the way we conduct eCommerce businesses? 

Now in this particular segment, we will be exploring especially in what areas or sectors of the organization these chatbots can offer assistance. 

#1 Customer Service Area 

One of the biggest advantages of using chatbots is for the customer service areas. In fact, several types of research have revealed 67% of customers tend to use chatbots for gaining worldwide support. In fact, customer service is one such area where these chatbots have offered a great impact. ECommerce businesses can save a lot when it comes to customer support and the enhancement of relevant key productivity metrics seamlessly. 

  • Website support – Real-time responses are key to consider. 
  • IT helpdesk – Boosting team productivity and driving efficiency are its perks
  • In-app support – Enhanced user engagement

It may quite interest you to know chatbots not just assist eCommerce stores but also banking organizations for a better impact. 

#2 Sales 

Another sector or area where chatbots can work wonders is lead generation. With the help of these chatbots, it is quite feasible to pre-qualify leads and automate the sales funnel. Now, what exactly do these bots do? Well, they assist well in identifying the product interests of the visitors as well as the end users. And depending on this, it is quite possible to segment your target audiences. Another benefit of using these chatbots is that they have the potential to convert your visitors into regular prospects. With chatbots, the sales funnel can be taken to the next level. In fact, here it is quite possible to schedule regular appointments for hospitality and healthcare. 

#3 Marketing

Another crucial eCommerce sector where these bots can work wonders is marketing. By keeping regular track of user interactions, it is quite possible to share relevant information regarding the brand, its products, and its services. In fact, it has been proven that chatbots tend to deliver high returns on investment with the least possible effort. Chatbots in the field of marketing can assist well in recommending relevant products or combo offers depending on the journey of the customer. Here with the help of these chatbots, initiating proactive conversations is quite possible. In fact, in case the customer gets stuck these bots can sincerely guide them in the right direction. 

Above all, these chatbots can assist well in understanding customer’s behavior and enhancing the conversations by personalizing them. 

Tips to Boost Conversion Rates using Chatbots

Now here you will go through some crucial tips and tricks that can assist you well in boosting relevant conversion rates. 

  • By offering enhanced user experience – First and foremost the customer must be able to understand what exactly the e-commerce website will be selling. No one would like to hang out for more if the website is unclear regarding what type of product and services you are selling. No matter how big or small it is, an eCommerce website must be able to come up with some engagements and ways to enhance the overall shopping experience of the customer. Here chatbots can assist well in understanding what kind of products and services are sold here. Moreover, they can even resolve relevant queries instantly. 
  • Finding the one – Another crucial tip to take into account is to understand that there are several websites that can be pretty difficult to engage. So for them, these chatbots can assist customers in finding the relevant or should I say the right product. It’s basically about how you can convert your visitor into a buyer. 
  • The waiting period is over – In today’s fast-paced times, nobody likes to wait for long. AI chatbots tend to answer pretty much instantly and ensure that most of their queries or issues get resolved in time. These bots can even compel them to take desired actions such as adding products, clicking the product page, and of course, buying the product.  

In a Nutshell, 

There is no denying the fact that Chatbots won’t be able to revolutionize the eCommerce industry and several other industries across the globe. In fact, it is also forecasted that sooner or later customer care assistants might totally get replaced by these bots. I hope you find the following post worth reading. If so, feel free to share among your peers and spread the word for us as much as you can. The world is trending towards this intelligent agent. Where are you?  

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