Technology is no longer a separate operation for retailers, in 2021, it has become integral to combine technological advancements with sales and marketing to create memorable and unique customer experiences. Especially with most retailers moving their businesses online, it has become imperative to implement technologies that can support seamless e-commerce shopping journeys. Verticalized conversational AI is one such example that has become a must-have for the modern customer-centric marketer, who develops strategies that provide customers with a whole new way to shop online.
Business leaders claim chatbots have increased sales by 67% on average - Forbes
With vertical AI solutions like SID, brands can now go live faster than ever before, with AI models that are pre-trained on retail ontology, along with pre-built connectors to leading e-commerce platforms. Brand and product data are continually enriched, and the conversational AI ensures that precision marketing insights are delivered, that help the brand understand their customers better than ever before!
Having a conversational AI is pretty much non-negotiable when it comes to future-ready customer strategies, and here are the 10 top reasons why:
1. Online brand expert
As online sales increase, retailers have the added pressure to provide online brand experts across channels to guide their customers and help solve any query they might have. Conversational AI interfaces like chatbots and voice bots can be implemented to act as digital shopping assistants, helping customers from product discovery to purchase.
2. 24/7 availability:
Over 50% of customers expect businesses to be available 24/7! For global retail brands, having round-the-clock automated customer support is crucial, and conversational AI delivers exactly this. Digital shopping assistants like SID that are verticalized for retail, ensure intelligent and intuitive conversations, handle a heavy influx of customer service requests, respond in a humanized manner, while also providing immediate responses.
3. Drive-up sales
Increase sales with conversational AI that’s in tune with your customer’s preferences and profile, allowing for better options for customers to choose from, easier closing of sales, offers based on the stage of the shopping journey they are in, among others.
4. Accelerate conversions
A digital shopping assistant like SID identifies high intent buyers and ensures that their needs are met in order to close the sale, which happens through proactive product recommendations that help narrow down the customer’s product search.
5. Reduced costs
Implementing conversational AI has the potential to reduce your operational and training costs considerably in your customer service department. It also allows you to automate repetitive FAQs and leaves higher-value tasks like closing sales to your human agents, thus increasing productivity.
Chatbots can help companies save up to 30% of their customer support costs by speeding up response times, freeing up agents for more challenging work, and answering up to 80% of routine questions. – IBM
6. Demystify consumer needs
Truly get to know your customers like never before! With vertical conversational AI, brands gain deep insights into what goes into their customer’s decision-making, as well as pointed insights that can lead to business changes.
7. Omnichannel presence
Meet your customers seamlessly across channels and provide the same frictionless shopping experience, irrespective of whether it’s on your e-commerce website or Facebook messenger.
8. Multilingual support
For a global brand to support customers in every region, the ability to engage in the native language fluently, while also deciphering intents within communication is crucial, and conversational AI supports this all the way!
9. Seamless shopping journey
Verticalized conversational AI helps brands customize their customer’s shopping journey targeted at what works best for a specific geography or specific market needs. By leveraging the power of AI, conversations are also now more seamless than ever before for end customers!
From customized suggestions, campaigns and support, verticalized conversational AI taps into customer insights to create personalized engagement for every single customer.
As an industry, retail only stands to benefit from conversational AI implementation, and while chatbots can get the ball rolling for your business, vertical solutions like SID are built to integrate easily with retail data and catalogs, leading to faster onboarding and a loyal customer base that benefits from the advanced level of personalization and support.
Here’s a quick recap of the top reasons your retail brand needs verticalized conversational AI!