Conversational Commerce will drive spending of more than $290bn by 2025 (Juniper Research). Here are 5 highlights from industry trends and our own experience at In The Room:
Customers are individuals, with different levels of knowledge, brand commitment and engagement. Being able to provide a more personalised experience for customers, at a 1:1 level is proving game-changing. This is what conversation (from chat to media) allows and it's clearly being demonstrated now in the trends.
We're seeing evidence that conversational workflows can create media that works harder, leaving less media on the cutting room floor. Companies are now seeing 16 x more efficient content creation, as they embrace a new way of working, which is great to see – particularly in the current economic environment.
3. 24/7 AVAILABILITY:
The obvious one. Being able to provide interactions with customers or audiences anytime of the day or night is pretty standard for a lot of businesses, but it’s still worth a mention.
4. HIGHER CONVERSION:
Unsurprisingly given the above, conversational experiences lead to higher revenue growth and conversion, as customers see improved flow to purchase.
5. HIGHER ENGAGEMENT:
Longer dwell times, increased email engagement and relationship building. This has to build and develop trust though, and businesses need to be aware of how their conversational experience supports an authentic connection to their brand. Generally, we’re seeing businesses increasingly seeking to compete by using conversational AI, including SMBs. From chat to conversational media. If you’re interested in understanding more data in this area, get in touch and we can start a conversation!