Conversational Commerce – Everything You Need to Know
Learn everything about conversational commerce, a sales technique that offers personalized recommendations based on consumer behavior. Discover the different channels of conversational commerce and the importance of AI in enhancing the sales process. Find out how implementing conversational commerce can automate basic sales and support requests, provide 24/7 customer support, and improve cross-selling and up-selling opportunities.
Conversational Commerce - Everything You Need to Know
Topics
- Conversational commerce
- Channels of conversational commerce
- Importance of AI in conversational commerce
Video summary
In this video, we discuss conversational commerce, which is a conversation-based sales technique that aims to improve and simplify the sales process by offering personalized recommendations based on consumer behavior. We explore different channels of conversational commerce, such as website chat bots, social media messaging, sms texting, voice assistants, video communication, and in-app chat messaging. We also compare conversational commerce to a chat with a coffee shop barista, where personalized recommendations are made based on customer preferences. The video highlights the importance of artificial intelligence (AI) in conversational commerce, as AI chat bots can instantly display relevant information and provide efficient and accurate advice. Internal knowledge bases and CRM integrations are additional components of conversational commerce that enhance customer service. The benefits of implementing conversational commerce include automating basic sales and support requests, providing 24/7 customer support, increasing first contact resolution rates, shortening sales cycles, and improving cross-selling and up-selling opportunities. Moreover, conversational commerce allows businesses to learn more about their target market and customers through feedback and analysis of customer conversations. Overall, conversational commerce is presented as a valuable strategy for marketing and sales.
Video transcript
hey everyone today we're talking about
conversational commerce we're gonna
learn what it is why your business
should use it and my customers love it
let's get right to
it conversational commerce as the name
implies is a conversation-based sales
technique leveraging personalized
real-time one-on-one communication
between a business and a customer its
goal is to improve and simplify the
sales process by offering specific
product and service recommendations
based on a consumer's behavior
demographics and answers to select
questions
if you've ever interacted with a live
website chat bot when online shopping
you've participated in one form of
conversational commerce but while
automated website chat bots might be the
most recognizable type of conversational
commerce they're far from the only
option omnichannel communication
engaging with customers on their
preferred communication channel or
device is a central part of
conversational commerce social media
messaging sms texting voice assistants
like alexa video communication and
in-app chat messaging with a human agent
not a bot are all examples of
conversational commerce think of
conversational commerce as the virtual
version
of a chat with a coffee shop barista
when you walk into a coffee shop you
already know you're going to make a
purchase
but you might not know exactly what kind
of drink you want
to help you out the barista will ask you
questions like are you looking for
something hot or rice
decaf regular
sweet or bold
based on your answers barista makes a
personalized recommendation that fits
your needs and wants but most
importantly
that barista establishes a relationship
with you as the customer and it's that
relationship that's going to keep you
coming back in the future let's quickly
look at some of the most important
aspects of conversational commerce while
human human interactions are a huge part
of conversational commerce having
extended one-on-one conversation with
every website visitor isn't possible
that's why artificial intelligence or ai
plays such an important role in
conversational commerce when a customer
types in preset trigger words and
phrases ai chat bots instantly display
relevant information like product page
links order status and tracking updates
or customer support details these chat
bots can also root more complex issues
to live agents thanks to machine
learning your ai power chat bots get
smarter over time analyzing customer
answers selections and conversation
outcomes to create more efficient and
accurate advice
internal knowledge bases are another
major part of conversational commerce
these searchable internal company
databases provide agents with more
specific product service and support
information and scripts
often agents simply copy and paste
information directly from the internal
knowledge base into the chat crm
integrations let agents access essential
customer data in real time making it
possible to provide the highest level of
personalized customer service without
having to leave the conversation there
are countless reasons to make
conversational commerce a part of your
marketing and sales strategies
first you'll be able to automate basic
sales and support requests keeping
agents free to handle major customer
service issues
or to make more outbound sales calls
by optimizing available agents you
likely won't need to hire additional
team members even during peak times
you'll also be able to provide always on
24 7 365 customer support this
drastically increases first contact
resolution rates shortens the sales
cycle and lowers the number of abandoned
website shopping carts plus by making
instant product or service suggestions
conversational commerce makes
cross-selling and up-selling easier than
ever perhaps the biggest benefit
conversational commerce offers however
is the chance to learn more details
about your target market and your
current customers you'll be able to
collect feedback analyze live agent and
chatbot conversations to see what needs
improvement and have a better overall
understanding of what your customers
want from your business if you enjoyed
this video be sure to like it and
subscribe to our channel and hit the
notification bell below to be the first
to know when we post a new video for
more information on conversational
commerce check out the link in the
description box below
thanks for joining us on our journey to
simplify the voip world one video at a
time
till next time this is nate from get
void
[Music]
[Music]
you
Dig Deeper
What is Conversational Commerce?
Conversational commerce is a conversation-based sales technique that involves personalized, real-time communication between a business and a customer. The goal of conversational commerce is to simplify and improve the sales process by offering specific product and service recommendations based on a consumer's behavior, demographics, and answers to select questions. It can be compared to having a chat with a coffee shop barista, who asks you questions to understand your needs and wants in order to make a personalized recommendation.
Types of Conversational Commerce
Conversational commerce goes beyond automated website chat bots. It includes omnichannel communication, which means engaging with customers on their preferred communication channel or device. This can include social media messaging, SMS texting, voice assistants like Alexa, video communication, and in-app chat messaging with a human agent. The goal is to provide a seamless and personalized experience for the customer.
The Role of Artificial Intelligence (AI)
Artificial intelligence plays a crucial role in conversational commerce. AI-powered chat bots can instantly display relevant information to customers based on preset trigger words and phrases. They can provide product page links, order status and tracking updates, and customer support details. Machine learning allows these chat bots to improve over time by analyzing customer responses and conversation outcomes. This ensures that customers receive efficient and accurate advice.
Internal Knowledge Bases
Internal knowledge bases are another important aspect of conversational commerce. These searchable company databases provide agents with specific product, service, and support information. Agents can easily access this information during conversations to provide a higher level of personalized customer service. CRM integrations also enable agents to access essential customer data in real time without leaving the conversation.
The Benefits of Conversational Commerce
Implementing conversational commerce in your marketing and sales strategies offers several benefits. By automating basic sales and support requests, you can free up agents to handle more complex customer service issues or make outbound sales calls. This eliminates the need to hire additional team members, even during peak times. Conversational commerce also enables 24/7 customer support, which increases first contact resolution rates, shortens the sales cycle, and reduces the number of abandoned website shopping carts. Additionally, it facilitates cross-selling and up-selling by making instant product or service suggestions. Perhaps the biggest benefit is the opportunity to learn more about your target market and current customers. By collecting feedback and analyzing live agent and chatbot conversations, you can gain valuable insights into what needs improvement and what your customers want from your business.
If you want to learn more about conversational commerce, check out the link in the description box below. Don't forget to like this video and subscribe to our channel for more informative content!
How can chatbots improve customer service?
Chatting apps, such as LiveAgent, offer efficient customer support with customizable features, fast response times, and improved satisfaction. Implementing chatbots can also automate tasks and provide 24/7 support, but they lack emotional intelligence and struggle with complex issues. While chatbots can improve efficiency and accessibility, businesses should strive for a balance between automation and human interaction for a positive customer experience.
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