As businesses turn to chatbots to increase consumer engagement so these experiences are converting huge numbers of casual users of online apps into shoppers. According to a recent study by Juniper Networks, retail sales from chatbots will reach $112 billion by 2023, a huge increase from $7.3 billion this year.
According to SnatchBot CTO, Avi Ben Ezra, any business that fears moving forward to deploy clever AI bots in it’s ecommerce ecosystem, will soon find it hard not to embrace the benefits that AI and chatbots can offer. During an interview, with reference to industry research, he said: “We know that the savings for retailers, which are expected to be $7 billion this year, will reach $439 billion in 2023. These statistics would have no meaning if consumers were not comfortable using chatbots, and according to a survey from Uberall, 80% of the consumers who partook in the survey said that their interactions with chatbots were “generally positive” so far.
How are bots changing the mobile user experience?
The user doesn’t need to make use of the increasing number of apps required to perform a small number of tasks anymore. From the conversational interface of their chosen application, whether this is Facebook Messenger, SnatchApp or any other, they can access the bots from their preferred retailers and make queries or complete a transaction.
Increasingly intelligent bots are ever enhancing the consumer experience
Already bots are able to read, write and respond in the same way that any person would respond in a conversational user interface (CUI). They can automate transactions, even out workflows, make engagements more personalized and initiate actions. These are all possible because of artificial intelligence (AI), machine learning, and natural language processing that allows chatbots to understand language, be intuitive and capable of learning from their interactions. As bot technology advances the capabilities of these intelligent bots will continue to expand.
How do bots enhance customer experience?
The most important aspect of the shopper’s experience with a bot is that it ceases to just be a transaction and becomes a two-way interaction in what is known as “conversational commerce”. For the consumers, this equates to real-time customer service across multiple channels that also includes voice calls, text, email, messaging apps, etc.
Chatbots will instantly greet the consumers as they start to browse. They help to refine the search according to various criteria which can include price range, color, size, and more. The customer can then instantly move to checkout and the purchase is seamlessly completed and can then keep track of the shipping and order status online.
Purchases can be carried out easily and conveniently through message-based interactions between consumers and bots. As the consumer is browsing online, bots can provide relevant and actionable offers in real-time that can also be personalized from past browsing and shopping experiences.
Consumers have access to FAQs, but for more specific requests and questions that cannot be answered by the chatbot; they can request to speak with a human agent. This is the best customer support that any business can offer.
What are the benefits to retailers?
Besides the savings to retailers as outlined by the recent research, the benefits to the business are too many to be snubbed. Bots keep a record of all leads, manage contacts and update contact details efficiently, but are also able to create new leads and to convert leads or assign them to the correct sales representative if necessary.
Retailers can also be kept up-to-date as the bots deliver alerts and updates regarding any number of issues that may arise, including inventory.
Chatbots help employees to become more efficient and their productivity is enhanced and they can concentrate their resources and time on more important issues than responding to repetitive queries.
No successful e-commerce store can afford to be without chatbots today
The number of e-commerce businesses employing bots has increased but not everybody has realized their full potential yet. There are many substantial benefits of digitization and one of the most important is profitability.
Bots remove the need for traditional marketing tactics and by putting customers in control of the interaction they cultivate loyalty and drive sales. Above all, they feed the need for a fast, easy and self-service experience expected by consumers, allowing them to shop at their leisure any time of the day or night, any day of the week.
SnatchBot – Bot building at its easiest
Any e-commerce store can easily build a chatbot with the templates from SnatchBot. By downloading a template from the Bot Directory every e-commerce business can reduce what is known as app fatigue with customers trying to master all the various apps. SnatchBot supports 11 channels where chat interfaces are available and are always ready to integrate new ones.
Chatbot development at SnatchBot is cost-effective and provides business with a high ROI. There is no doubt that customer services and relations show marked increases once they are implemented.
This article was produced in collaboration with SnatchBot