Using Chatbot for Online Store can be a Game Changer
E-commerce platform is a highly competitive space with new merchants entering the market every next day. Global sales through e-commerce chatbot will reach approximately $ 4.5 trillion by 2021. This is because the technology is only going to be cheaper and easily accessible in the coming years. With such availability of technology comes intense competition among brands, carrying a single goal – to keep customers engaged in one’s specific brand or store.
“According to the American Marketing Association, it is seen that customers who use live chat are 3 times more likely to buy while increasing the conversion rate by 20% and the typical ROI rate by 305%.”
In present times, customers are constantly bombarded with marketing messages via e-mails, SMS, social media etc. But all these ultimately lead to over-saturation and kills the actual purpose of marketing. The need of the hour is direct interaction of brands or online stores with their customers. And this is the point where chatbot development platforms can be a game changer by developing e-commerce chatbot.
Today, more than 30% of the customers expect to have a live chat system on your website. Therefore, if you are missing on a live chat software system, then you are losing a lot of business
Redefining Customer’s Shopping Experience with Chatbots
Integrating e-commerce chatbot in online shopping has the potential to completely redefine the shopping habits of the online grabbers of today. According to a report, from Business Insider, people nowadays are more ready and willing than ever to shop with bots.
47% of users are open to the idea of shopping online via AI-chatbot.
Similarly, 71% of users want to receive customer service through different messaging apps.
It has been estimated that on an average a customer is happy to spend approximately $55 on shopping using chatbots.
The figures are quite interesting that shows buyers increasing trust in AI chatbot as a means to communicate with businesses. The way the chatbot development services are going to change the game of online marketing with sales and service bots seems quite exciting.
How Consumers Are Depicting Chatbot Services
Consumers prefer Chatbots to be simple and responsive
Source: Aspect Software
Not only e-commerce is making use of Chatbots
E-commerce is a very competitive market with so many merchants. You need to stay ahead of the competition by tracking the seller’s activity to see how they are addressing their customer’s needs. And for the current market, chatbot is the new trend.
Ascertained by Grand View Research report, the global chatbot market is expected to reach $1.23 billion by 2025 with a compounding annual growth rate of 24.3%.
In a recent Oracle survey, 80% of businesses said that they already use chatbots or plan to use them by 2020.
The Same Oracle report says, 48% of businesses are already using automation technology.
Defining The Buying Process
Instant solution to one’s doubts and queries make users comfortable when they visit an e-commerce website. According to a report by Gartner, 44% of purchasers will leave an online store if their problems are not addressed promptly. Here chatbots can be of great help with their real-time conversational approach. They can respond to the various queries of the users at the time of shopping. Hence, can keep customers engaged.
The AI chatbot can efficiently sum up the bills of the customers with high accuracy. This will provide the much-needed flexibility to the users in making payments of their purchases. The ease of purchasing and payments will increase the customer base of an online store. This is the reason why bot development services in AI consulting have seen a surge in recent times.
One of the attractive features of online shopping is that the customers can cancel their orders and ask for a refund if the product does not suffice their needs. But the entire procedure of cancellation and refund can be quite frustrating to the vendor. The e-commerce chatbot can be of great help in this scenario. Since, they can efficiently do this tedious task without getting angry or frustrated.
The e-commerce websites provide many offers to their customers. They have facilitated product recommendations for upselling and cross-selling in the e-commerce space. When customers respond to these offers through push notifications, the e-commerce chatbot can reply instantly and help the website earn profits by cross-selling and upselling.
Other e-commerce companies develop algorithms that track customers and do some of the recommendation curation work for you. Example, they choose the products that you might want to upsell or cross-sell for you and make recommendations to your customers.
Hire Best Chatbot Developers
Ultimately, integrating customer care chatbots into your customer support strategy will enhance the user experience for your customers. Thus, free up your support team to focus on important issues, and save your business support costs.
But, it will not prove effective to build a chatbot and launch it. The buyers won’t chat with the bot if it is not responsive and engaging. Roughly 40% of users will stop chatting with a bot after the first message, and 25% will stop chatting after the second. So, to ensure that your chatbot is beneficial you need to get it developed by existing industry experts.
There is no doubt that the e-commerce chatbot is going to be the real game changer in the field of e-commerce. So, if you wish to turn the table in your favor and want to create your own chatbot for your online store. Look nowhere else than Signity Solutions, one of the best machine learning companies in India. We at Signity have the right skills and expertise to develop and deploy Industry specific chatbots that aim at solving the real business challenges. We will give our best in understanding and fulfill your goals by providing you, your very own e-commerce chatbot. Consider outsourcing to India and feel free to reach us here and we will revert back at the earliest.
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