Feb 23, 2019

Conversational Commerce – Everything You Need To Know About It

Your grocer does it, the store at the corner where you pick up your coffee does it and even you must be doing it.

The coined term is relatively new, but the implementation of conversational commerce has been since humans first began trading. Using conversations to drive sales, marketing and making customers happy has been a core part of commerce and will always be.

The main difference between then and now is that the conversations now can be automated and with data analysis offer relevant interactions than before.

What Is Conversational Commerce?

An automated technology powered by artificial intelligence and NLP enabling shoppers to interact with the brands over chat and voice interface.

Possible for every platform that supports chat or voice bots, conversational commerce experience starts from the first interaction a consumer has with a brand and continues with placing orders to solving customer queries and more. The conversational experience is all about adding value to every part of the customer journey.

Still unsure what it exactly is? Here's an example to help you visualize the same.

When you purchase something from an online store, after a week or so, you receive an email asking you to review the product or asking how are you finding the product purchased.

genietalk

To answer them, you will have to

  • Open the email
  • Scan through the call to action (CTA)
  • Click on the CTA button
  • Wait for the webpage to load
  • Fill out your details & the review
  • Submit

Basically, do a LOT of work.

But with conversational commerce, it would be EASY

  • Open the email
  • Respond

Instead of sending you an email, the store could have messaged you on any of your social media pages you are connected on with them and ask you about your purchase.

Conversational commerce not only makes the automated interaction between a brand and a consumer feel more human, but it also reduces the number of steps involved for a consumer to take action on something.

Conversational Commerce – Powerful & Massive Opportunity

High growth stores are implementing conversational commerce and these are some of the reasons why:

  • Enables two-way communication
  • Connect with more customers at a single time
  • Stores adapting it the right way are seeing a whopping increase in revenue

40 million+ people own a smart speaker and it is estimated that by 2019, 2.5 billion people will be walking around with smartphones that are voice-enabled.

Conversation is the natural way for humans to interact with technology and conversational commerce represents the shift in how brands are interacting with their customers throughout their journey making conversational commerce a big deal.

How Does Conversational Commerce Works?

Let's go through a brief example of a customer journey:

  • First visit to a store
  • Browse products
  • Add products to cart
  • Places order
  • Order is shipped
  • Order arrives

At every step and more you can use conversational commerce to add value and improve the customer experience.

Proactive

The user purchases a product the first time and an automated message goes out to them thanking them for shopping at their store.

Reactive

The user purchases a product faces an issue and asks the store for assistance. Recognizing their purchase, an automated guidance response is sent.

One-to-many

A store opens in different locations and the store manually sends out a custom message to the targeted audience in and around the location.

One-to-one

A user shares a positive review of a store and the store manually sends a personalized message along with a voucher.

Now that you understand what and how conversational commerce is and works, here are a few experiences and integrations:

  • Connect with the customer on social media
  • Chat directly from the online store
  • Touch base with the customer after they leave the store
  • Thank the customer after their first purchase
  • Let the customer know that their order is under process and shipped
  • Confirm with the customer when their package arrived
  • Ask for review
  • Recommend products based on purchase history
  • Ask the customer if they are ready to reorder
  • Troubleshooting
  • Answer a question

Now some voice-based conversational commerce examples:

  • Deal of the day
  • Finding nearby stores, events and more
  • Product recommendations
  • Check order status

Artificial Intelligence Improving Conversational Commerce

Artificial intelligence is being used to improve conversational commerce and this is how it works:

  • Understanding what the customer is saying or asking
  • Predicting what the customer is likely to say or want

The World Is Changing Rapidly And So Is The Technology

With voice-based AI-powered conversational commerce platform, users will just have to speak and the transaction will go through. Get ready for the conversational commerce platform that will make it convenient for you.