It’s possible that you’ve been considering the fuss about chatbots as just another fad or buzzword which does not significantly translate to an increase in revenue, then you are in for a big surprise. Chatbots can be used to improve your customer experience and increase conversions.
Did I hear you just say increase conversions? Yeah! That must have got your adrenaline pumping and it’s very correct. Wait a minute! That’s not the only juice, with chatbots you will be making sales day and night, around the clock, and 24/7.
According to a survey, 73% of consumers said they were more satisfied with their live chat experience as compared to email (51%) and phone (44). Now place that by the side of the estimated projection that 2.1 billion people will be shopping online globally which will yield $4.5 trillion by 2021 and the projected increase that 95% of purchases will be made online by 2040, have you now seen the reason you need to implement chatbots?
Wow! Such staggering figures should unnerve anybody including you and you must be finding it extremely difficult to wrap that around your head. The numbers by any known standards are at once invigorating and daunting.
If you’re stunned by that $4.5 trillion “phenomenon” and wondering, “Where do we start?” Don’t fret because you’re not alone. Thousands of other brands are thinking along the same line with you.
That bounty harvest must be fetched but it all depends on how prepared you are to go for it and the better prepared you are, the more you will be able to garner. The hard truth is that if you stutter, you will be left with a sour taste in your mouth for decades.
According to the Harvard Business Review, “Business leaders are scrambling to adjust to a world few imagined possible just a year ago. The myth of a borderless world has come crashing down. Traditional pillars of open markets — the United States and the UK — are wobbling, and China is positioning itself as globalization’s staunchest defender.”
The feasible thing for you to do in order to get a big chunk of this largesse is to integrate chatbots into your business and see mammoth, staggering, and jaw-dropping conversions in the following four ways.
1. Catching in on the borderless market
There isn’t any way you can become a partaker of the $4.5 trillion bounties if you decide to stay glued to the confines of your border, online customers are increasingly looking outside their country’s borders to carry out purchases. You must meet them where they are, when they want, and how they feel it must be delivered.
It’s interesting to know that by the end of 2019, 40% of large enterprises will have implemented chatbots and over 25% of the global population will be using messaging apps, which will help to deepen chatbot adoption. Live-chatting is not altogether a strange thing again as roughly 40% of Millennials interact with bots on a daily basis, which means that these types of customer interactions will only be further regularized.
Across the borders, there is the language barrier but fortunately, AI chatbots have the ability to live-chat your customers at scale and in any language of their choosing. Forbes reports that chatbots do not only chat in multiple classic human languages but can also be trained to recognize less formal shorthand, internet speak or even typos that might confuse a human agent.
Common Sense Advisory in a survey, discovered that 67% of people prefer navigation and content in their language and 75% of buyers want to make purchases in their language. What could be more friendly, heart-warming, and disarming than hearing your own dear mother tongue from the “lips” of a supposedly complete stranger?
With chatbots, it’s a big boom to your rate of conversions.
2. Insights for upselling and cross-selling
When customers arrive at a shopping site in search of a particular category of product, they feel more relaxed and discard that uncanny feeling they have towards humans knowing that chatbots don’t have the potential to be deceitful. This is an avenue that makes chatbots good means for up-selling and cross-selling models with additional or enhanced features and capabilities based on recommendations.
The recommendations by chatbots can be pulled out of pre-setting product matches, based on the specifics of the conversation between the customer and the chatbot. Personalized product recommendations leverage information chatbots have learned about the customers to help curate products that may be of particular interest to your customers above and beyond the generic here’s what’s new in town or the popular demand.
They are able to gain insights into customers’ needs and desires with the aim of determining which of your products or services could help them and offer a cross-sell or upsell.
3. Improve customer service
According to MarketingProfs, your conversions can be almost 400% higher if you call a potential lead within the first minute. Since chatbots offer 24/7 service, you can easily achieve this type of immediacy.
The internet has made competition a next door thing and time has, therefore, become of paramount essence. Getting the customer’s attention and providing timely support is absolutely essential to your success and your rate of conversions.
If you attempt to beat the competition and give your customers 24/7 service which could be possible but impracticable without chatbots, you must be ready to dip heavily into your pockets and at the end of the day, you may end up in the red books.
4. Qualify leads
Your concentration should be on conversions and not just on everybody that visits your website. Chatbots can use lead-qualifying questions to determine visitors that are the right fit for your product or services, thereby saving cost and time.
This method can also be used to set up your chatbots as a filtering system, where it responds to all of the basic questions, and only the visitors with the most pressing issues are transferred to real operators if there is the need as one-third of consumers are satisfied with using a chatbot before being transferred to a human operator.
So what are you waiting for? Do you still have a case with your rate of conversions? Are you interested in partaking of the $4.5 trillion bounties? Chatbots are your gateway and the earlier the better.Photo Credit: perzonseowebbyra Flickr via Compfight cc