When we think about talking to a friend or family member, our first thought is to text them. The act of texting is embedded in our minds, and bringing this into business can open the door for new relationships with your customer.
Businesses are already working towards integrating this system into their daily operations, and this is why we have seen a boost in the live chat software globally. This integration has set in motion the rise of conversational commerce. So, in this article, we will talk about conversational commerce, why it’ll be so important in the future, and its implementation.
What Is Conversational Commerce?
We have been using conversation in business long before the concept of conversational commerce even came into existence. From asking a waiter what they suggest to messaging an Instagram page about a specific product, all these fall under conversational commerce.
This framework is all about the element of conversation coupled with automation. The exact definition of conversational commerce is an automated system, often powered by artificial intelligence, which enables brands and customers to interact with each other via live chat software and voice interfaces.
Conversational commerce is not just good from a customer standpoint but also for the brand. It allows brands to get instant feedback and simplify their daily processes and marketing activities. This efficiency allows them to save money and resources, which can be used in other business areas to improve business growth.
Potential Of Conversational Commerce
According to a study, three billion people used messaging applications in 2021. The trend has indicated that people find it easier to adopt messaging apps than social networks. This shows that messaging applications have a huge potential, and businesses need to capitalize on it. There are several benefits that are associated with integrating conversational commerce into your business.
Firstly, it allows for two-way communication. This means that you have a chance to learn from the customer and have a good talk with the person rather than just sending them information. This can help you build a relationship with your customers and promote brand trust.
Secondly, Experts believe that you can connect to 5 times more people with the help of live chat software than you can through email. This goes back to people adopting messaging apps faster than any other means of communication. You can reach more people by integrating conversational commerce into your online businesses.
Finally, since you are reaching more customers and building a better relationship with your customers, you can expect a better result. Organizations using conversational commerce have seen a significant increase in their overall sales numbers.
As of 2021, this market is pulling in $41 billion and is set to reach $290 billion by 2025. All this is just the tip of the iceberg, and as this concept gets integrated at a deeper level, businesses can expect to see massive growth.
Implementation Of Conversational Commerce
Implementing conversational commerce can be done by any business. This will help the business improve their sales and create a stronger connection with their customers and simplify their business and marketing activities. There are a few things that an organization needs to ensure when it comes to implementing this concept. Since it is meant for the people and their convenience, certain functionalities should be offered with the implementation. These include:
- Act as a guide for people looking to make a decision. This can mean having a person or an automated system offer suggestions to the customer
- Simplify the invoice and payment method while having a two-way conversation
- Allow customers to make a booking by simply texting the business
- Send promotion via text message
- Provide important updates
- Add live chatbots and voice chat integrations to automate your processes
- Talk to your customer one on one, respond to their queries and gain valuable feedback
Conversational commerce is becoming inevitable for businesses to adopt. Online stores have already incorporated it into their business processes. It is only a matter of time until industries worldwide start using this method to improve their sales and build a better customer base.
To adopt this concept ultimately, you can’t expect to gain success by just integrating the best live chat software. You also need to give a human touch to your operations to allow smooth conversations that can help you in the long run.