Top reasons why you should invest in Conversational Marketing
The global pandemic continues to have a devastating impact on millions. Apart from the health consequences — which have been catastrophic — the global economy has taken quite a beating.
Brands have had to adapt fast to an unprecedented situation, with millions of consumers heading online, away from physical shopping.
With the pandemic estimated to have accelerated digital transformation by five years, forward-thinking marketers have embraced the use of AI in the form of conversational marketing.
As stores globally were forced to close their doors, chatbots helped businesses meet increased numbers of call centre enquiries, slashing wait times and improving customer experience. They are now the fastest-growing brand communication channel, and forecasts suggest that the rise in conversational marketing strategies will only continue.
Over the last year, 67% of global consumers had an interaction with a chatbot. And with 76% of consumers expressing a desire to make a purchase by messaging with a business, brands are investing in AI in their droves.
This isn’t a passing fad. The pandemic was a catalyst for a digital growth spurt — and it’s here to stay.
With that in mind, here are our top five reasons why you should make conversational marketing a priority in 2022.
1. Chatbots can revolutionise your customer service
We’ve all been there, right? Something goes wrong with your new laptop. It’s still under warranty. You pick up the phone to call the customer service line only to realise it’s 17:05 on a Friday. Their helpline has closed and doesn’t open again until 9:00 on Monday.
Cue a frustrated string of expletives, a weekend filled with annoyance and a very angry phone call on Monday morning.
You don’t want that for your customers.
Enter the chatbot. Now, we’re not saying chatbot implementation can completely replace the human connection, but it can certainly deal with a lot of low-level issues and filter enquiries to the right people.
By investing in conversational marketing AI, you can offer round-the-clock customer service, without the costly overtime bills.
What’s not to love?
2. Conversational marketing drives sales
Cart abandonment is a real problem for brands. The global cart abandonment rate is a whopping 69%, and 85% for mobile users. This amounts to a global loss of $18 billion dollars.
Today’s consumer is busy. They don’t have time to click through endless sign-up forms or wait for pages that take forever to load. These things have them navigating away from a purchase faster than you can say ‘I need conversational marketing in my life!’
And conversational marketing is the best way to make sure your customers aren’t part of these frightening statistics. Social commerce strategy, chatbots and automated display ads all help to drive sales and convert leads.
With social commerce, users don’t even have to leave the platform to do business with you. It’s a seamless experience. Their payment details are already there. The social shopping experience is streamlined, convenient and simple — reducing cart abandonment and securing those all-important sales.
3. Conversational marketing saves your business money
With the reduced expenses associated with customer service, a chatbot can bring huge savings to your business. They can help slash these costs by a whopping 30%.
Chatbots also have a great return on investment. You don’t have the associated costs of staff turnover and burnout to deal with. Chatbots can take care of the tedious and repetitive queries, freeing up the human staff to deal with more complex and rewarding tasks. So, it’s not only the customer experience that is improved, introducing chatbots also has potential for improving working conditions for your staff too. Win-win.
A positive chatbot experience can also impact customer retention. They are more likely to return to your brand if they have had their query dealt with quickly and efficiently. They get great service, and you get repeat business.
4. Chatbots generate better leads
Chatbots allow brands to analyse data from their customers to generate more leads.
They can collect and store the data of the customers who chat with them. These data can then be analysed to learn more about their buyers, and to reach out to the customer for further information.
Put simply, more data means more leads, more prospects and more sales. Winner.
5. Conversational marketing enhances brand engagement
There is mounting evidence telling us that more and more people will increase their spending with a brand they engage with on social media. We also know that audience engagement boosts your profile in the eyes of the consumer and that customers expect timely responses.
Social commerce, advanced automation and AI offer personalised responses that resemble human interaction. They can be tailored to your brand to communicate in your brand style. This sets you apart from your competitors, in much the same way as your brand’s ethos does.
6. Conversational marketing empowers 1-to-1 customer relationship
As any good marketer will tell you, marketing isn’t about selling. It’s about building relationships. It’s about getting to know who your customer is, what they need and what makes them tick.
Conversational marketing uses the power of real-time conversations to build authentic relationships with customers. It allows you to understand them on a deeper level, and provide unique messaging based on their needs. You customers feel happy and listened to, which in turn builds trust in your brand. And as any good marketer will also tell you: trust sells!
7. Conversational marketing works for B2B too
It’s not just B2C brands that can reap the benefits of this new wave of marketing. By deepening your relationships with your customers, conversational marketing is a great way for B2B businesses to build brand engagement and trust. And in today’s uncertain business landscape, trust is just as integral to B2B marketing success.
Let conversational marketing strategies work their magic for your business
In short, conversational marketing can reap major rewards for your business. It can increase productivity amongst your (human) staff, generate quality leads, and ramp up brand engagement — all while improving your customer service.
With so many pros for consumers and retailers alike, there’s no doubt that adopting a killer conversational marketing strategy should be top of your 2022 to-do list.
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