One of the key aspects when it comes to digital transformation in retail, is implementing conversational AI solutions to streamline processes for the ever-changing customer needs. Organizations strive to have meaningful conversations with customers and engage them better. In a recent survey, 83% of customers said that they would browse or buy products in messaging conversations. A further 77 percent of consumers noted that they are more likely to make a purchase if they could browse or get answers over messaging. Retailers are rapidly accelerating on deploying transactional chatbots to their everyday solutions for boosting sales. Using AI, brands can interact and help customers transact on a conversation and fully empower their purchase journey. With in-store footfall decreasing consistently, leveraging these digital conversations helps retailers win and retain more customers.
In this article, we look at how digital transformation in retail can further be enhanced through conversational commerce.
Establish customer loyalty
The first impression is the last one. Therefore, a brand needs to showcase its hospitality to the new customers whenever they visit its e-store for the first time. Conversational commerce can be leveraged by brands to understand the customer better and offer personalized solutions. For e.g., retailers can share promo codes post-purchase urging customers to return for more. In addition, a voice assistant can be used to guide customers throughout the product ordering process. Handholding the customer at every step in the buying journey through a transactional chatbot ensures higher customer satisfaction.
Customers open-up and share genuine feedback when approached through a natural conversation compared to when brands ask them to fill out an online survey. This serves as an effective tool to understand customer needs and also ensures better response rates to feedback surveys. Retailers can deploy a fully automated chatbot that can pick-up leads from social media posts such as people who have expressed interest in their products and hit them back with more information and also closely follow-up for any concerns they may have.
Upselling and cross-selling opportunities
Many businesses integrate with third-party systems to predict what products are usually bought together, what benefits can serve as an add-on for the customer and so on. AI makes this better by delivering personalized recommendations with these product suggestions on any preferred channel. For instance, sending a notification to the customer with a list of featured products or new items based on their search history, sending seasonal promotions exclusive at that time of the year and so on.
Reduce cart abandonment
Cart abandonment is more common than we think. A customer is usually seen exiting without a purchase when the checkout process is difficult or there are additional costs involved in shipping the product. Brands can proactively reach out to these customers through any channel such as WhatsApp, Fb Messenger, Viber and so on and leave a reminder with their cart details and enable transaction within the same context for easy checkouts. If the customer cart has been dormant, we can send them incentives or send an alert when the product is eligible for a discounted price and it could make all the difference.
Gain potential leads
Conversational commerce is an effective way to support customers during a purchase. The majority of the customers love those brands that greet them through messages over a call. Therefore, a chatbot can set reminders for customers and help monitor product prices, etc. A survey suggests that 47 per cent of people are ready to purchase through a chatbot. Therefore, brands should deploy a chatbot on the checkout page. It will answer all queries related to delivery options or refund policy and many more. Many brands may find it difficult to create a perfect strategy to fuel their conversational journey. Managing conversations can be tedious and challenging. But every great relationship starts with a little, casual chat. Therefore, brands should seize every opportunity they get to attract potential customers.