Conversational AI - The next Step in E-commerce Evolution
There is no doubt that AI is a popular buzzword in the retail landscape and retailers are slowly recognizing its potential and are increasingly adopting at least one form of AI into their customer journeys or internal processes. By 2019, 40 percent of retailers will have developed a customer experience architecture supported by an AI. Retailers that choose not to incorporate an AI-backed solution into their business strategies will face consequences that can severely affect their bottom line.
Conversational AI can fundamentally transform the way consumers communicate and transact with brands. While this is true across all industries, retailers, in particular, can reap multiple benefits, depending upon their adoption of new technologies. To help retailers understand the importance of implementing Conversational commerce into their retail strategy, here are some aspects where it makes a real difference:
Meeting the customer where they are
Messaging is one of the popular means to interact with one another and that’s how they prefer to interact with brands, too. Conversational AI allows retailers to tap into the most immediate form of communication i.e. messaging and reach consumers in a very convenient manner at a higher scale which was not possible before.
Moreover, with Amazon Alexa, Google Home and now ubiquitous technology in the home and office, as well as with the growing familiarity towards similar technologies, people are shopping with voice-based assistants in greater numbers.
Increased Customer Interaction with Conversational AI
Technology is evolving at a rapid pace, and both web and apps which were once quite the rage among retailers are now tools that are causing friction between the customer and retailer. Conversational AI has the ability to add a new layer of interactivity to online shopping.
It further enables a richer, more complex customer engagement, featuring personalized shopping assistants and concierge bots answering questions, recommending items, and handling individual transactions. This helps to personalize the digital experience at each touch point of the customer journey.
Conversational Design is the New Personalized Web Design
Like the human language, conversational commerce is flat. This allows brands to engage in real relationship-based commerce not usually achievable through websites and apps. While it has the ability to handle a broad set of commands, without AI, it lacks the capacity to understand complex inquiries.
The integration of AI breaks down these barriers and retailers can turn towards messaging solutions such as chatbots and program them to echo the brand voice as well as provide a more personalized and positive experience unique to each customer.
Conversational AI has the ability to change the way all brands conduct business. It connects them with their customers more organically and creates personalized experiences tailor-made for every individual. This will serve as the first universal interface, increasing the efficiency among retailers and brands as well as maximizing profits.