The 2021 conversational marketing report: top stats and trends

PLEASE NOTE: For the complete list of the stats and trends, please download our eBook by filling the form at the end of this blog.

Over the last 18 months, the pandemic has completely transformed how consumers interact with brands.

With shops closed, holidays cancelled, and nights out now a distant memory, consumers headed online in droves to spend their hard-earned cash. From weekly groceries, to kitchen gadgets, clothing, gifts, and tools, online shopping quickly became the norm.

Over a year later, the pandemic has accelerated e-commerce and the digital transformation by an incredible 5 years. And it seems this change is here to stay. Even now, as stores reopen and restrictions lift, many people are still choosing to shop online.

Investing in conversational marketing strategies has been a pivotal step in helping businesses navigate this transition, allowing businesses to connect with customers, increase sales and boost brand engagement throughout the pandemic.

And it seems this change is here to stay. Even now, as stores reopen and restrictions lift, many people are still choosing to shop online.

Investing in conversational marketing strategies has been a pivotal step in helping businesses navigate this transition, allowing businesses to connect with customers, increase sales and boost brand engagement throughout the pandemic.

And with consumers seemingly reluctant to flock back to bricks and mortar shops, savvy business owners are investigating what AI can do for them in a post-pandemic era.

Key conversational marketing stats

Throughout the last year, more and more brands have been jumping on the conversational marketing wagon. The popularity of chatbots and social commerce – key types of conversational marketing – has exploded with both consumers and retailers. And when you look at what they can do for your profit margins, it’s little wonder these trends are on the rise.

Let’s take a look at some of the facts surrounding this aspect of forward-thinking marketing strategy.

It’s a growing trend

  • Customer service interactions handled by chatbots have seen a 400% growth since 2017

  • Chatbot eCommerce transactions are expected to reach $112 billion by 2023

  • Using chatbots in your customer service can cut operational costs by 30%, while offering higher returns.

It also means your staff are happier, as they are funnelled away from menial and repetitive enquiries that can easily be handled by the chatbot. Win-win! What’s more, chatbots are superstars at reducing cart abandonment, swooping in at crucial points in the buying process, answering key questions, and removing barriers to purchase. In short, this growing trend is great news for consumers and retailers alike.

Experiences with chatbots are positive

Soon it’ll be second nature to deal with a chatbot in the buying process. Chatbots have seamlessly integrated themselves into the buying experience. And customers are benefiting from their interactions with them, reporting positive and helpful experiences. Here are some findings stats from our eBook.

  • 95% of people believe a chatbot will benefit customer service
  • 68% like chatbots because they get quick answers
  • 64% like the 24-hour service with chatbots during out-of-office hours

In today’s fast-paced world, consumers expect brands to be available round-the-clock and to provide instant responses to queries.

The costs of trying to meet 24/7 customer demands with human staff are astronomical. A chatbot offers an affordable solution — not to mention an impressive return on investment (ROI).

Key social commerce stats

At first thought, e-commerce and social commerce seem synonymous. But while both involve buying online, social commerce offers a far more seamless and friction-free experience than its traditional counterpart.

What’s more, this new wave of social shopping is revolutionising the way we spend money online. To find out how, let’s drill down into some juicy social commerce stats. Here are some of the top stats from our eBook.

  • 1 in 3 shoppers made a purchase via social media in the past year

    • An unprecedented 1 in 3 global shoppers has made a purchase via social media in the past year. And if you break that down by age, the number increases to 43% in the 18-24 age bracket and 47% for 25-34-
      year-olds. So the Millenials and the GenZers are leading the curve — and they’ll be shopping in this way for decades.

  • 74% of millennials say their perception of a brand improves if the company responds to them on social media

    • Building loyalty for your brands while providing exceptional customer service is becoming more and more important as we approach to younger generations. In this process, social media responsiveness is the main aspect and conversational marketing can really help you improving the perception of your brand.

  • 21% of people say they no longer shop in-store

    • The move online is unlikely to be reversed. People are used to it now, and people don’t like change. This change may have been forced on them, but they’re happy with it now. It’s quicker. It’s easier. So why go back?

The take-home? Combining AI and social commerce marketing strategies boost brand image and offer a great return on investment.

Trends in conversational marketing

So, what does the future of conversational marketing look like? What trends have developed in 2021 that are likely to continue into 2022?

Conversational marketing is one to watch in 2022. The uptake of conversational marketing has grown massively in the last couple of years, and it’s set to keep on going.

  • Chatbots are on a big rise

    The chatbot’s popularity is predicted to grow. By 2024, consumer retail spends via chatbots worldwide is projected to reach $142 billion. This is a huge jump from just $2.9 billion in 2019.

  • Bots are getting more personal

    As chatbot technology improves, businesses are able to customise their bots to develop detailed and personalised user experiences.

Find out more!
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