We have seen the role of chatbots in the customer service segment and their success in organization’s business operations. These virtual assistants are capable in helping the different departments such as they can make a significant impact in every aspect of the company. They are available throughout the day for the customers.
These AI powered virtual assistants can greatly improve an organization’s productivity by providing help in different departments such as Human Resources, marketing, production and sales. A chatbot are a new channel and a new way to communicate. Companies who plan to involve chatbots have to think about a new user interface and new conversational commerce.
This post will focus on how chatbot can influence the marketing department. The chatbot, as a whole can have an overall positive impact on the sales and marketing department. With the help of chatbots, employees can not only close more sales, but they can also be benefited by automating certain processes that allow them to focus on other activities.
Coming to the conversion metrics, chatbots can give a boost to overall sales and the conversion metrics. However, sometimes the implementation of chatbot in the overall strategy of the company may not be straightforward. Let’s explore how the chatbot implementation can improve the conversion rates and increase the overall profitability of the company.
AI-Powered Virtual Assistants or Chatbots – Their Power
Chatbots became popular because of AI or the Artificial Intelligence. These are dedicated pieces of software that combine the power of machine learning and natural language processing (NLP) to communicate with the users.
Due to their ability to converse using natural language, they can easily participate in cohesive dialogues with the individuals and work on requests based on these conversations. An example would be a user who wants to know about company’s values. He would simply reach out to the company’s chatbot, ask for the relevant information and get answers in return, all via the virtual assistant with no human intervention.
Earlier, chatbots development was a huge affair which cost the companies skill wise as well as cost wise, but now the chatbots can be easily developed with almost no coding knowledge and without investing lot of money into it, thanks to the AI powered platforms.
Chatbot’s functionality should be kept in mind while developing it. It’s better to develop a simple, basic chatbot with limited features than developing a complex chatbot with features having lot of glitches. Even the users prefer the former one. One thing is wonderful about the chatbots is that the companies can introduce a basic bot at the beginning and slowly adding on new features as it will learn new skills and it can grow at the same rate as the company grows.
Sales Conversions – Increasing them through the use of chatbots
Chatbots can be amazing tools when it comes to influencing the conversions and closing rates. These AI powered virtual assistants can directly assist the sales team close more deals by providing all the relevant information during the sales call. Additionally, these chatbots can be used to take, edit and check on orders once they’ve been processed. This way, they create an overall positive experience which leads to more sales in the future.
Gathering the information
Getting information about the target audience is very crucial for any business to succeed. These AI powered chatbots can be utilized effectively to gather all the relevant information about the target audience. This relevant data can be used to develop the custom tailored marketing and sales campaigns. AI-powered assistants can collect this information from social media profiles, browsing habits, or by directly asking users about their interests.
Help in creating buyer personas
The information in turn can be used to develop buyer personas, or fictional depictions of ideal clients. One thing to be looked into with depth is the specific information. To be as specific as possible is the key. The details like name, age, job, income approximation should be mentioned. This fictional depiction and/or buyer personas can be utilized to devise marketing campaigns in a way that truly speak the language of the potential customers.
This concept is not something new, but using chatbots in the process can take it to the entirely new level. Analysis of purchasing patterns, interests and other relevant demographics can help in qualifying the prospects and showing the sales team where each prospect is located within the buyer’s journey. This, in turn, helps the sales team to focus on the leads that are close to becoming sales and also nurture the prospects at the top of the funnel.
As the chatbots are designed to provide support round the clock, conversational chatbots can build a more personal connection and engage leads. Also, their ability to display a personality and empathy can be used to create a stronger bond with the user.
Direct sales channel
With the help of chatbots, a direct sales channel is introduced in the sales process. Thanks to the ecommerce applications, payment solutions can be integrated within the chatbot allowing them to take orders and make purchases without even having to switch applications.
As the chatbots have the ability to interact with the users via their preferred messaging and social media apps, there is no better channel to directly approach them. Launching a promotion through the chatbot can be used so that the users can receive personalised promotion and thus increasing the chances of increase in sales.
Real Time Engagement
Regardless of the type of conversion which is industry specific, chatbots can be used to measure engagement in real time. This means, the times when the audience is most active can be effectively utilised by launching the promotions and marketing campaigns.
Nurturing the leads
Lead base is necessary in every business but most important part is nurturing those leads so they can be converted into actual customers. Nurturing is the process of moving your prospects down the sales funnel naturally until they become customers. Chatbots help you nurture your leads because they set up direct communication lines with your customers and send relevant pieces of information at crucial parts of the decision-making process.
Chatbots can be useful in providing in-depth analytics, like all digital marketing and sales tools. They can collect, render and analyse the relevant information needed to create successful marketing campaigns. Also, they benefit internally by collecting the internal data and eliminate causes of low productivity.
Although, it can be a time taking task of perfecting an AI powered chatbot/virtual assistant, but they can be effectively used to increase the sales conversion rates if implemented correctly. If the above said steps are followed correctly, a conversion driven bot can be created which will help sales team close more deals and generate more leads.