Chatbots are the NEW kid on the block, leaving a perfect environment for the businesses to enhance their business ROI model. To start with, the very concept of chatbots has given a new route to businesses to function as per the demand of users, and give the right set of information to them.
It is not just the eCommerce industry, but other sectors as well that are utilizing chatbot services, analyzing customer comments, and providing personalized services to shoppers.
Since the invasion of the pandemic, the very trend of online shopping found new popularity, enabling users to buy as per their convenience while maintaining the social distancing norm. On the other hand, the study has revealed that 1 in every 5 consumers are willing to purchase goods or services from a chatbot. While 40% of online shoppers are looking for great offers and shopping deals from chatbots.
It has been observed that 80% of all the customer interactions were managed by AI technologies by the Q4 of 2020. And the online sales are projected to touch $4.8 billion by 2021.
Let’s explore the number of ways through which chatbots are going to redefine the business expansion plans with much gusto.
Removing the clutter of online shopping
The integration of chatbots in online shopping has marked a different journey, which is full of different possibilities. It has helped users to improve the way they shop online and get the ease of recommendation patterns based on products that shoppers buy and when they buy them. This further allows the businesses to develop capabilities like creating a list of important items, and smartly get them bifurcated to place online shopping orders.
It goes without saying but the entire game of assistance has turned into a digital platform, that is further helping businesses to assist their customers even during non-working hours, and guide them to purchasing carts. These bots mimic humans in the best possible way and start an intuitive conversation to kick start a better customer experience. The integration of certain new technologies such as Natural Language Processing helps in addressing consumer needs through deeper insights.
For a business to grow out of bounds, one of the most relevant aspects is to address the needs of the niche audience base with targeted marketing, and this can be possible with detailed research. Not anymore, as chatbots have opened a door to improved marketing, and their self-learning capabilities learn and grow with time. This helps businesses to provide personalized or targeted offers to customers and improve their revenue funnel.
Based on the last purchase, and other metrics, chatbots can easily anticipate customer behavior by examining their browsing history. This analysis can be used to make it right, significant, and useful recommendations. It further helps customers to make the right decision while picking the right product, and the algorithm uses various inputs like customer preferences, their account data, their browsing history, their purchase history, and relevant data from 3rd parties to deliver more customized suggestions. This allows businesses to have a higher number of returning customers, better and improved customer retention and sales. Hence to offer a personalized shopping experience indeed chatbots are the best tech trend to proceed ahead with.
What future suggests?
Considering the number of constant advent happening in and around the app technology, it is evident that the future is bright for chatbots and other trending technologies. However, to be specific about this very tech trend, then it can be stated that the widespread embrace of this tech trend can further help businesses to offer seamless shopping and revenue generation opportunities. However, time will tell what more is lying there to pick out of this very trending technology trend.
No doubt, the inclusion of chatbots in the business model has transformed the way we interact with businesses and somehow has further melted down the time and zone barrier while giving a more personalized and customized experience to the users. In the near future, the chatbot will hold the baton of revolutionizing online shopping and offering a much seamless way to handle users’ requirements.
To explore the hidden and upcoming possibilities with chatbots, keep watching this space for more action to take place right there on your mobile screen.