We are in the age of artificial intelligence (AI)! And e-commerce has unfolded into an AI-powered marketplace over the years, enabling sellers to reach more consumers and via different engaging layers.
Customers’ expectations of how they should interact with retailers have also changed significantly over the last decade. Due to significant improvements in AI, consumers were twice as ready to engage with chatbots powered by AI engines in 2019 as they were in 2018. This has only grown ever since.
Speed, preciseness, and agility define today’s customer support expectations, and conversational AI chatbots deliver all of these plus more. As a result, AI-powered chatbots have been a game-changer in e-commerce.
How Can Custom AI Chatbot for eCommerce Help Customers?
Every e-commerce platform is different from the other and hence a one-size-fits-all approach when setting up an AI chatbot solution isn’t possible. Hence, a custom AI chatbot is the best solution.
AI chatbots or Intelligent Virtual Assistants (IVA) are powered by Artificial Intelligence, Cognitive Insights, and Machine Learning capabilities. They can be tailored for a particular e-commerce store based on several metrics such as target audience, product type and range, and business location.
For instance, 74% of users prefer chatbots while looking for answers to simple questions. In comparison, chatbots are preferred by 69% of customers because they provide quick answers to simple questions as per Salesforce.
The math is straightforward: people want fast, effortless, and hassle-free solutions to problems and AI gives them that. With in-built NLP models, these AI chatbots enable e-commerce stores to convert visitors into paying customers and consistently provide end-to-end assistance 24×7 for 365-days.
Some Stats to Show the Value of an AI Chatbot in eCommerce
- In 2019, Gartner predicted that by 2021, 15% of all customer service interactions globally would be handled entirely by AI, an increase of 400% from 2017.
- 69% of consumers are comfortable purchasing from a conversational AI chatbot because of their quick turnaround for simple questions, according to an Adweek report.
- And a statement by TechCrunch states that over half of the online shoppers prefer to settle issues through messaging the businesses than call customer service.
Hence, it is clear, AI chatbots enable ease and efficiency and have opened the door for burgeoning e-commerce brands to interact with their customers in various new ways and make more money.
What Do Customers Expect from an eCommerce Store and How Can AI Help?
Online shoppers are constantly demanding more from the sellers. They expect sufficient product information when they step into an e-store, more choices during checkout and delivery, and more channels to connect with the seller for post-purchase support.
These are the principal expectations customers have from today’s e-commerce and how AI can help:
Customers Expect Information While Shopping What AI Makes Accessible
Today’s customers look into different resources like blogs, review articles, and websites to check for product details. Even then, they may have very specific queries about your products. So make sure that you answer these questions adequately. But simply dumping all the FAQs somewhere on your website won’t do. They must be easily accessible.
Innovative, compelling content experiences enhance the online experience, reassuring shoppers about making a purchase and keep them coming back for more. Yet, on average, only 15% of customers are repeat customers, and they account for one-third of the total spend.
Here, deploying custom-built AI chatbot solutions can assist your e-store visitors with the correct information, guide them to the right content to find advice, and support them through their shopping journey.
Customers Expect an Omnichannel Experience that AI Chatbots can Delivers
According to Marketing Evolution, an omnichannel marketing strategy allows teams to meet their consumers where they are, with the right message at the right time. Organizations can deliver a centralized customer experience through omnichannel marketing that recognizes the previous touchpoints along the customer journey.
Real-time AI-powered chat has emerged as a new channel to drive sales and convert visitors into customers. AI chatbots engage customers through blended human-like conversations, enabling businesses to use inexpensive and wide-reaching technology to engage more consumers.
Advantages of Deploying AI Chatbots in eCommerce
Chatbots are increasingly transforming the way businesses interact with customers. The surge in on-demand messaging is also why consumers’ way of communicating with brands has changed. The advantage is for both e-commerce companies and consumers.
Businesses are reaping the benefits of reduced operational costs through conversational AI chatbots. For example, companies spend over $1.3 trillion per year to handle customer requests. Chatbots can reduce that cost by 30%.
A few advantages for e-commerce brands on using custom AI chatbots are:
- Better customer engagement: Chatbots can help businesses take customer engagement to the next level. They can make the online experience more interactive as they drive interactions based on user input. This is why most chatbots (77%) in the world are deployed in customer engagement.
- Reduce customer service costs: AI chatbots save extra costs of fielding more agents to support customers.
- Generate high-quality leads: AI chatbots can generate and qualify leads by asking relevant questions. Bots can also nurture the leads as they progress their buyer’s journey.
Chatbots engage customers round the clock and improve their shopping experience. They are easily scalable to handle customer requests and provide instant responses to boost customer satisfaction. What is more, they often get better with time.
AI Chatbots: A Very Bright Future
CIOs and CTOs around the world believe conversational bots will play a crucial part in the enterprise architecture of the future—and have the potential to have a big influence on a company’s operations, according to Accenture research.
Just ask Amtrak, which claims that its usage of custom conversational bots has resulted in a $1 million yearly cost savings in customer care email—an 8x return.
Bots lowered customer service expenses by 44 percent in the first year and earned a 5x return in just six months at communications giant Charter.
In just three months after launching a bot that provides recipe guidance to mothers, soup ingredient producer Knorr reported a 50 percent rise in soup-stock cube use.
Prerequisites to Deploy an AI Chatbot for your eCommerce Store
AI chatbots are now on the top priority list of most e-commerce businesses. But there’s a technology gap to address as deploying a custom conversation AI support system requires specific expertise. This is where Insync can help.
We build actionable, sophisticated, and customizable AI chatbots for your e-commerce business at the best prices.
It is also imperative to recognize there are prerequisites to consider before deploying an AI chatbot. Plus, the adoption process and implementation should be cost-effective and also save time.
Here are some critical checkpoints to consider before you deploy a custom AI chatbot solution for your e-commerce store:
- Who are my customers, and how do they behave online? You will have to learn about their online behavior and the way they search for products online.
- What use cases are you going to automate using an AI chatbot? For example, you may want to answer FAQs, recommend products, engage customers through relevant guidance and offers.
- Where will the AI chatbot be located? You can place the bot in your website, application or even integrate it with your social media channels. Make sure you are where your customers are and offer an authentic omnichannel experience.
- What third-party tools/software should be integrated into your e-commerce website to capture critical customers? You may want to think about integrating with your CRM tool, a ticketing platform.
- How will you measure the efficiency of the AI chatbot? Performance measurement is essential for fostering continuous and comprehensive improvement. It helps us identify areas for improvement and set benchmarks with historical data.
eCommerce brands need to align their operating models with evolving, mobile-first consumer expectations by putting them first. Therefore, getting started with a custom AI chatbot solution for your e-commerce store is indeed a wise step. For more information on how Insync can help you deploy customizable AI chatbots in your e-commerce, request a Live Demo!