With 2018 on the way, the e-commerce landscape is shifting drastically across the world. “Conversational Commerce” (a term coined by Chris Messina of Uber) was used to describe the rising trend of utilizing messaging, chatbots and voice-powered searches to interact with customers via messaging platforms like Facebook Messenger, Whatsapp, Telegram, Slack etc — would soon be considered a normal feature that business incorporate all over the world to interact with their audience.
According to comScore, 50% of all searches will be voice searches by 2020
It comes as no surprise as we’ve seen Microsoft’s Cortana assisting voice searches from your pc to phone to Xbox and Amazon’s Echo having a star-trek computer (commonly referred to as Alexa) to take down all commands from playing music, taking reminders to ordering pizza online
Chatbots, the new necessity for running a successful e-commerce business
You have seen them present in a majority of sites that contain transactional property. They are already being used for client on-boarding, internal/external money transfers, bill payment, payee addition/modification, P2P and recurring payment setup, data and alerts and real-time financial market data etc.
Now being integrated with technologies like blockchain, AI and IoT, chatbots are in high market demand for startups and businesses alike. Additionally, speech recognition has improved drastically, especially in terms of native languages, which is expected to result in enhanced performance of chatbots in various applications.
- A Business Insider survey reported that 80% businesses expect to have chatbot automation implemented to some extent by 2020.
- A LivePerson survey of 5,000 consumers showed that 67% had used a chatbot for customer support in the last 12 months.
- The global chatbot market is expected to reach USD 1.25 billion by 2025, growing at a CAGR of 24.3%, according to a new report by Grand View Research, Inc. The chatbot industry is expected to witness significant growth over the forecast period as they enable enterprises to substantially reduce operating costs.
Chatbots used for marketing is expected to witness the largest growth over the forecast period as they can connect the customers directly to service providers.
Chatbots can now provide context-aware notifications and offers to customers with seamless payment technology integrated into their intelligent interface.
Facebook has been leading this trend for a while now by allowing brands to integrate chatbots via the Facebook Messenger app.
I’m always looking for ways to research more efficiently, and I was surprised to find that bots can help you do exactly that.
Take GrowthBot, for example.
Something that’s nice about GrowthBot is its accessibility. You can use it with Slack, Facebook Messenger, and Twitter.
You probably already use all three of those tools, so adding a bot like GrowthBot is an easy next step.
If you find yourself multitasking every day, a bot can take on some of those responsibilities and let you focus on the important things.
I should point out that using bots for researching isn’t the best option for everyone.
If all you’re doing is a few Google searches here and there, having a bot dedicated to research would honestly be overkill.
But if you’re constantly checking up on your competition and always finding fresh content to use, then a bot will be worth its weight in gold for you.
In 2018, we can expect brands to communicate with customers in powerful new ways using artificial intelligence and machine learning powering chatbots and voice powered API’s.
To sum it up voice-powered API’s and chatbots can provide:-
- Reduced operation costs.
- Immediate customer interaction with 24/7 availability.
- Highly personalized offers and communication.
- Automation of the entire e-commerce customer lifecycle.
- Instantly resolve customer issues.
- Improved customer experience and satisfaction.
- Improved handling capacity & automation of featured e-commerce services.
In the meantime, check out all the different bots and take advantage of what they can do for you.
What is your experience with marketing or service bots?