Conversational Commerce: Using Bots to Reinvent Retail

Recently more and more enterprises are turning to bots to change the traditional consumer experience into a gratifying, conversational, and personalized interaction. Consumer engagement has always been at the forefront of retailers' marketing plans, and now, employing digital channels to turn casual users into shoppers is quickly becoming a viable path to faster, simpler purchasing.

Conversational Commerce: Using Bots to Reinvent Retail

Bots are “The New Apps”

Experts are calling bots “the new apps”: According to recent studies, well over half of mobile users are experiencing “app fatigue”, a languor that is resulting from a high number of apps required to perform only a handful of functions. Bots solve this problem by doing the exact opposite; a single user on a conversational interface (like Facebook Messenger or Snatch App) can access multiple bots from various enterprises, and perform a number of desired tasks from the same app.

Bots are “The New Apps”

Engaging with Computers that Speak Human

Today’s bots are able to read, write, and respond in a conversational user interface (CUI) in the same manner a person would. Bots automate transactions and workflows, personalize engagements, and initiate actions. As the technology advances, the capability of intelligent bots will grow.

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What can bots do for retailers?

Bots offer a way to change the shopping experience through “conversational commerce” — that is, a two-way interaction between consumer and business that feels more like an interaction than a transaction. Here are just a few ways in which bots are reinventing retail:

  • Bots can offer instant, real-time customer service across multiple channels (voice call, text, email, messaging app, website, and more).
  • Bots allow simple, convenient purchases via message-based interactions.
  • Bots can provide relevant, actionable offers in real-time, personalized to a customer’s trends.
  • Bots are able to deliver alerts and updates regarding available inventory.
What can bots do for retailers?

The New Wave of E-Commerce

While many in the retail sector have begun employing bots, their full potential hasn’t been realized yet. Enterprises that don’t adapt to digitization and ease of access will find themselves struggling to maintain profitability as others in the industry reap the substantial benefits.

What bots really do is put the customer in control of the interaction. Today’s consumers want fast, easy, and self-serviceable ways to perform transactions and have questions answered via multiple channels; not only can bots satisfy these needs, but they do so in a way that cultivates loyalty and drives sales without resorting to traditional tactics.

Virtual assistants, bots, chatbots though the technology has been around for some time, these terms have come into common use recently because enterprises are now beginning to see just how useful they can be, not just for retailers, but any industry. Early adopters that implement their capabilities are going to quickly see how efficient they are to win over customers and to streamline the consumer/business relationship by way of building relationships and changing the face of commerce.

Practical examples of how Bots can help

B2C and B2E

B2C (Business to Client)

  • Client onboarding
  • Greetings and help
  • Search for products
  • Refine search results by price, colour, and more
  • Purchase products (checkout)
  • Track order status and shipping
  • View order history
  • Personalized Offers
  • Advertise special promotions
  • Request human customer service agent
  • Ask questions (FAQs)

B2E (Business to Employee)

  • Lead and Contact Management
  • Create new lead or contact
  • Update contact details
  • Assign lead to sales representative
  • Convert lead to contact
  • Assign contact to account
  • Get notified when new lead is assigned to account
  • Get notified when new account is assigned to an employee
  • View contact details
  • Create appointment with lead or contact
  • Get notified of upcoming appointments
  • View daily appointments and follow-up activities
  • Send email to contact with support for templates
  • Quote Management
  • Account Renewals