INTELLIGENT CONVERSATIONS THAT BOOST SALES!
As the explosion of e-commerce continues in 2021, retail brands are now focused on bringing all the best aspects of offline (in-store) shopping, into their consumer’s online shopping experience. Conversational AI has been a buzzword in online retail for the last few years, and keeping up with unprecedented demand has led to faster adoption of automation in the market!
THE ROLE OF CHATBOTS IN E-COMMERCE
It is not just limited to handling support queries, retailers are enjoying the many business benefits of deploying digital shopping assistants across websites, social media, and other emerging channels. The level of personalization that shopping assistants like chatbots and voice bots bring to online shopping can span from product discovery, recommendations based on each consumer’s preferences, and easy checkout, mimicking the in-store guided experience, but now online.
This adoption has the potential to steer your business in the direction of boosting conversions and sales, while also leading to a loyal consumer base that you can re-sell and cross-sell into.
REDEFINING THE CONSUMER EXPERIENCE, FOR HIGHER SALES
- Personalization: Never before in history have retail shoppers experienced a higher level of personalization when it comes to recommendations, and this is all thanks to conversational AI and the digital shopping assistants across interfaces that support this. Step-by-step guidance, relevant recommendations and support during crucial decision-making moments, and intent prediction are some of the ways conversational AI supports personalization.
- Real time interactions: Digital shopping assistants like SID can be deployed to ensure that every single consumer experience is seamless, no matter what channel they are accessing your brand from. This support is provided 24/7, and every single conversation is humanized, intelligent and relevant to their individual preferences.
- Cost efficiency: With end-to-end automation comes reduced call volumes, and lesser dependency on human agents for low value tasks like answering FAQs. This brings down operational and training costs substantially, while allowing you to use your talent for higher value tasks like closing deals with high intent buyers.
BUSINESS BENEFITS OF CONVERSATIONAL AI
- Generate leads and drive sales: Gartner’s research predicts that in 2021, 1 in 6 consumer interactions will be handled by AI, so make the most of this direct contact with your consumers that conversational AI offers. Target them with the exact information they are seeking about your brand and products across channels, with continual segmentation and intent assessment throughout their shopping journey.
- Consumer retention: With conversational AI, your digital shopping assistant will now work round the clock to interact with consumers across channels. Natural Language comes into play to support the understanding of complex consumer needs, or while offering discounts and coupons when the consumer appears to be passive. Easy checkouts, local language connect, and real-time feedback boosts conversion and retention rates.
- Actionable consumer insights: Natural Language goes a long way in extracting deep consumer insights from every single conversation that takes place, leading to your brand understanding consumer needs better than ever before. SID is a digital shopping assistant that is programmed to comb through conversational data and provide brands with previously unknown needs or questions. This then leads to undiscovered business opportunities, that include new markets, new product lines, better and more targeted marketing and effective website information, all of which results in higher conversions and sales for brands.
Read more about how SID’s insights helped a Swiss luxury retailer discover strong demands in new international markets
- In-store support: Take your digital shopping assistant into your physical stores with contactless shopping, which is the next big thing in brick-and-mortar retail, globally. SID has implemented this in physical stores for a leading paint retailer, helping consumers with everything from product discovery, purchase, to billing.
SID as a digital shopping assistant went in-store to offer virtual brand expertise for the world’s leading paints brand, read more here.
THE FUTURE OF CONVERSATIONAL AI IN RETAIL
The present and future of consumer engagement and experience in retail are conversational AI and if your brand has not made the shift yet, 2021 is the perfect time to adopt a digital conversational strategy to add an extra layer of engagement to your retail business. Positive business outcomes always follow when your focus is consumer-first and the latest research confirms this with a prediction that 50% of retail chatbot interactions will be handled without human agents by 2024. Staying ahead of the curve by proactively providing 24/7 automated consumer support to assist and close sales are going to be a redefining factor in retail in the years to come, so be future-ready!
Get an in-depth look into Natural Language and the role it plays in conversational AI here.
HAS YOUR BRAND ADOPTED CONVERSATIONAL AI?
With AI that’s verticalized for retail, SID is the world’s only digital shopping assistant built exclusively for retail, helping brands like yours, build comprehensive retail AI brain that automates the entire consumer experience operations, end-to-end. With pre-built e-commerce integrations with leading platforms, along with connectors to CRM systems and advanced analytics on Natural Language data, SID can take your conversational experience online across channels in just 4-6 weeks! Live in 23+ countries, supporting 100+ languages, we are the conversational AI partners of choice for some of the world’s leading retail brands.
Ready for your retail sales to take off?
Book a demo today!