“80% of businesses already use or plan to use a chatbot by 2020.” Of this out of all the industries considered E-commerce industry is poised to benefit 90% by implementing chatbot applications. So why exactly is Chatbot beneficial for e-commerce businesses? To understand this, we need to first focus on what is a chatbot solution and what functions a chatbot can perform for an E-commerce business.
A chatbot in can be explained as a form of messaging app that can interact with humans through natural language processing to provide clear and intelligent replies. Such messaging applications can automate routine conversations to provide improved customer service. As Chatbots get more sophisticated with the help of Artificial Intelligence and Machine Learning they can solve almost 80% initial queries without any human assistance. Resultantly the workload of customer support executives reduces significantly.
Other than the undeniable benefit of reducing costs of staffing. Chatbots can help improve customer experience by ten folds. Some of the significant advantages and scope of utilizing a Chatbot solution for an E-commerce business are as follows:
“57% of customers QUIT shopping in-between if their query is not resolved instantly.” Commonly, when customer support is handled manually, the response time to a query can be anywhere between 2 minutes to 24 hours depending on availability, holidays, etc. Imagine how much business that can make you lose. With a chatbot in place, you can easily handle all queries on all days at all hours.
Integrating product recommendation engines with chatbots can help you cross-sell to clients. When backed by machine learning and deep learning such applications can keep detailed track of inventory, customer preferences, and real-time data. By creating customer profiles and with assistance from product recommendation engines Chatbots can sell new products to existing customers or direct buyers towards additional products that suit their taste.
By integrating Chatbot solutions with Shopping Cart brands can provide their customers with a wholesome shopping experience. With detailed information on shipping, billing, offers, and more such Chatbot applications can handle more complex queries. This leads to seamless customer interaction and helps increase sales.
“Out of sight out of mind” is an apt proverb to explain how most customers interact with brands. It is very easy to be lost in a sea of brands and be forgotten by the buyer. However, that's not true if you can utilize your chatbot solution to continually interact with buyers to give them details on your new stock arrival or come up with exclusive offers on their most purchased items or even provide an offer on the goods they abandoned in the cart. Since this entire process can be completely automated it helps save on valuable cost and energy of doing the same manually.
With a robust Chatbot application, you can ditch at least some if not most of your existing online PPC campaigns. Think of it like this, why do we run those campaigns? Most of the time the answer is to gain new customers and re-engage with the existing ones. As explained earlier, chatbots can actively engage in an interactive conversation with your existing buyers, urging them to try new products and provide targeted offers. This is more fruitful than a one-way advertisement. In fact 75% of Consumers Report Scouring Their Inboxes just to Look for Relevant Discounts
Considering these facts if you are already not using an Ecommerce Chatbot application for your online store the time is now. If you believe in figures and facts here's something more to chew upon. Leading Research and advisory company Gartner says, “ Chatbot will power 85% of all customer service interactions by 2020. The average person will have more conversations with bots than with their spouse”. To know more about Chatbot solutions for Ecommerce, you could message us here. We would be glad to help.
Qwentic is a leading technology consulting company, engaged in offering end to end consulting services. We are technology consulting partners to several leading businesses across a diverse range of industries spanning Logistics, Healthcare, Advertisement, and E-learningRead More