Tag Archives for " conversational AI "

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The Rise of Conversational Commerce

The Rise of Conversational Commerce

Conversational AI is breaking the frontiers of retailer-customer interactions in today’s world. E-commerce used to be about selling products without offering customers a way express needs. However, conversations and personal interactions are essential in e-commerce. It helps retailers understand the customers’ requirements and offer customized products for them.

Today, about 5 billion users across the globe use messaging apps, with a fast-growing adoption rate. Social media and messaging apps are the preferred communication channels for millennials. Retailers can reach their customers by leveraging these messaging apps. Artificial intelligence is one medium that enables conversational commerce to instantly connect with customers. It helps engage and personalize communication to customers, thus driving sales for the business.

Conversational commerce is a two-way discussion between retailers and their customers through chat, messaging apps or voice technology, leading to a fruitful interaction that results in a value-based transaction. It allows retailers to create and nurture a relationship with their customers.

 

Enhancing customer shopping experience

Conversational commerce offers new avenues to connect with customers and improve the user experience.

Suppose a customer is planning to buy a Mother’s Day present, he/she would ideally step into a store and tell an associate about his/her requirement and get recommendations to buy an ideal gift.

Conversational commerce lets retailers take the learnings from the experience and automate the entire process. Retailers can integrate chatbots on their websites or use Virtual Personal Assistants to converse with customers through their online stores. From instantly answering questions to offering personalized choices, automation in commerce boosts interactions.

Additionally, conversational commerce can enable a follow-up experience for customers who abandon their cart. Instead of sending them an email that takes them through a long process to finish shopping, a direct message is a better approach. With a simple message, retailers can inquire whether the customer is willing to purchase the product, ask queries or requires to be reminded later. This allows the customer to take action and complete a purchase, all within the messaging app.

After a customer has purchased an item, retailers can notify about the shipment of the order, allowing customers to easily track their package. Once the order is delivered, retailers can connect with the customers to rate the overall experience, submit reviews or share pictures, with the click of a button.

 

Driving online sales

“Conversations are the driving force behind Conversions”

Customers want an easy and simple platform to purchase their desired products. Having a direct line of communication with their customers helps retailers make sure of sales. Conversational commerce is the way to engage customers at the point of sale to increase the rate of conversion. It opens the door for retailers to have a deeper interaction with customers during the crucial period between winning or losing a sale.

Conversational commerce reduces sales & support costs, overcoming the challenges of mobile browsing. It is a direct, personalized, dialog-driven approach to establishing long-term relationships, collecting data and increasing sales.

 

The purpose of conversational commerce is to provide personalization and convenience throughout a customer’s journey, from sales to service. It helps create a positive experience for the customer and earn loyalty. Moreover, it represents a customized online presence that lets customers request information they need rather than depend on browsing aimlessly through an online store.

Conversational commerce is a big deal as it represents a paradigm shift in the way retailers interact with their customers. It will have a huge impact on the entire customer shopping experience.

 

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Conversational AI – The next Step in E-commerce Evolution

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.

 

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Conversational AI – Getting Started

Conversational AI: Getting Started

With the increasing list of benefits and a growing demand for voice interfaces, the retail space is abuzz with Conversational AI as a key component for any digital transformation strategy. From improving customer service and boosting online sales, to new ways of differentiation using voice interfaces, Conversational AI is becoming increasingly popular among businesses. As the demand for this technology builds, the question shifts towards how to get started. The technology available is vast, yet only a few platforms meet the stringent demands of enterprises.

By 2019, a large number of retailers with online stores will have voice search, as well as voice navigation, enabled onto their sites. Today, speed and convenience are the two most important aspects retailers keep in mind while creating a customer journey. Here, the Conversational AI interface delivers the most important aspect over any channel, personalized content, and human-like conversation - a friction-less experience.

Delivering a frictionless experience

Conversational AI has the ability to understand the consumer's wants over a simple voice recognition software. For instance, a customer can pointedly ask for an item such as - "I am looking for a red ball gown like the one that Halle Berry wore for the 2014 Oscars" and yield the results rather than just entering a search query for "a red ball gown". This allows the consumer to have a natural conversation like that with a human rather than a machine.

This, in a nutshell, is the difference between conversational AI and the voice recognition that most vendors offer. Conversational AI has the ability to understand the user, deliver personalized content using information received from the conversation, preferences, to deliver the response the user expects. If the virtual assistant has the ability to diagnose a problem, it should be intelligent enough to arrange the solution for the same.

Increasing Customer Engagement

Chatbots are the first thing that comes to mind when mentioning Conversational AI, but it is only the beginning of the journey - most retailers are moving further away from this step and using conversational AI to reach more consumers across multiple touchpoints.

This helps them improve customer engagement right from the initial interaction through the entire journey, providing a connection in the final product. This plays a crucial role when building customer loyalty in the already competitive landscape. Retailers that implement a digital assistant which can actually interact with the user through the entire customer journey right from the initial touchpoint to after sales care, enabling them to move closer towards delivering a frictionless experience to their customers.

Looking ahead

As the demand and expectations of the consumers grow, the impact of conversational AI will affect the retailer. Conversational AI is the next technology, from enhancing customer shopping journey and driving online sales, it is definitely a technology to watch out for.

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