What’s the best way to close a sale? Salespeople will say that coming face to face with a potential customer and having a conversation is the ideal scenario. Talking on the phone is the second-best way. This is a common sales process, but what about online sales? Can salespeople be online 24/7 to sell? This is where chatbots for eCommerce are disrupting the typical sales process. Ecommerce chatbots can lift revenue on average by 27%.
Artificial intelligence is moving in on the conversational sales process through the use of chatbots. The idea of using chatbots for eCommerce has been coined with the term “conversational commerce,” which represents the intersection of human conversation with an AI chatbot for purchasing transactions.
Sales increase for a number of reasons from building trust and human interaction to answering objections and in some cases, overcoming obstacles. Ecommerce is closing in on the conversational sales process with the use of artificial intelligence chatbots. Conversations have been used to barter and trade since the beginning of time and are at the core of transactions. The intersection of human conversation and an AI chatbot to purchasing goods is conversational commerce.
Live chats have many benefits, but chatbots run 24/7/365. This round-the-clock service and servicing multiple prospects simultaneously for the same cost is one of the biggest advantages. Studies show that more people are likely to open up to a chatbot rather than a live chat. Additionally, prospects who are higher up in the sales funnel do not want to talk to a salesperson to “get sold”.
Conversational tools like chatbots can engage with multiple users at the same time. Chatbots allow companies to instantly communicate with customers to answer questions, resolve problems, or complete sales. These artificial intelligence (AI) bots anticipate what the customer wants and create a personal shopping experience based on the customer’s preferences.
There is huge potential for chatbots for eCommerce. With the high volume of customers, it is challenging to personalize customers’ shopping experience. Customers expectation for 24/7 access has increased along with the expectation to have support agents answer questions and resolve problems around the clock is highly costly. Adding a chatbot to an eCommerce site will help engage the users and keep them from abandoning the site when they run into obstacles.
With the ability to answer questions, provide information, and direct the customers to the right place, chatbots offer many benefits 24/7. Ecommerce chatbots are designed to make the shopper’s experience efficient. They quicken the purchasing process by reducing the number of decisions the user needs to make. Like live support, chatbots answer frequently asked questions and other customer support tasks including product recommendations, product details, and order information. While an eCommerce chatbot is busy handling these tasks, the human agents can focus on solving complex customer issues that a chatbot is not yet equipped to address.
Ecommerce stores are highly competitive businesses. With so many merchants with competing products, you need to find a way to set your site apart. Chatbots engage customers, alert them of upcoming sales and promotions, direct users to relevant pages improve product marketing, and collect data from every part of the purchasing process to gain insights. The global chatbot market is expected to reach $1.2 billion by 2025 with an annual growth rate of 24%, according to one study. Another survey shows that 80% of businesses are currently using or planning to implement a chatbot by 2020.
In the world of eCommerce where shopping seasons come and go, an eCommerce chatbot that interacts with users and customers and remembers them from their last visit is the perfect marketing tool to increase conversions, generate leads, and close sales.
From a business perspective, the goals of an eCommerce chatbot are to improve conversions, keep users engaged, and reduce support and customer service costs. From a customer perspective, the goal is to have a simple environment to shop and easily accessible support.
Adding a chatbot to your eCommerce site is not a matter of “if” but “when”. Increasing the intelligence of your bot takes time and the longer you wait the more you will have to catch up with your competitors.