Conversational commerce is reshaping the way buyers shop online. It makes buying products and services much easier. It is as simple as chatting with a colleague or a friend. The goal is to offer direct, natural interactions between brands and customers. Conversational experiences in eCommerce website development make the shopping journey more efficient.
Global spending in this space is predicted to strike $290 billion by the end of 2025. This shows how big and potential the market is. Businesses are catching on, integrating chat features on their eCommerce websites for product discovery and payment processing. With conversational commerce in place, consumers no longer have to navigate multiple web pages or fill out boring forms.
What is Conversational Commerce?
Conversational commerce is a technology-driven approach aimed at increasing customer experience. It is a blend of customer and technology.
It uses either live agents or artificial intelligence to communicate with customers. This allows people to shop through MMS, SMS, voice chat, and even live chat. Isn’t it engaging? You can ask questions, explore products, and purchase without leaving the chat interface.
Industry experts like Kristy McCown from Klarna have acknowledged the importance of conversational commerce or shopping. It’s expected to grow at a CAGR of 22.5% between 2022 and 2028, with its transaction value bouncing from $230.0 billion in 2023 to $635.2 billion by 2028. Therefore, now is a suitable time for businesses (particularly eCommerce businesses) to integrate this technology.
Further regional adoption trends indicate a growing market. European retailers, for instance, are actively leveraging tools like WhatsApp. The reasons for this include smartphone penetration rates and easy access to high internet in the region. Other markets with similar tech-savvy demographics will likely follow suit, making it a global trend worth noting.
What are Different Methods of Conversational Commerce?
So, if you plan to integrate conversational commerce to your website, ensure that your development partner considers any of the following methods while offering you professional eCommerce development services.
Messaging Apps like Snapchat, Messenger, WeChat, and WhatsApp. These platforms have become virtual hangout spots for people, making them ideal spaces for brands to engage audiences.
Let’s take an example: a clothing brand sends out flash sale alerts or new arrival updates directly through WhatsApp. How will it benefit them? It will facilitate immediate customer action and higher conversion rates.
Chatbots have been a significant addition to conversational commerce. They come under budget and are efficient, especially for handling routine queries. Suppose you run an online bookstore; a chatbot integration to your site can guide customers through genre bestsellers and even process their orders. The AI-driven conversation mimics human interaction, making such additions as the top offerings of eCommerce website development companies.
You have surely heard of Live Chat. Yes, it is one of the top features on many eCommerce websites. Quite different from messaging apps, this is usually a brand-specific channel. It’s a profitable integration for resolving customer queries in real-time. Refer to it as a thorough guide for your customers as they browse across the site. Let’s say a customer is confused about the size of a shirt. In such a scenario, a quick live chat can resolve the issue, increasing the likelihood of a purchase. Don’t you think it is a potential tool or method to increase the ROI of your business?
You should never want to miss out on Voice Assistants. Why so? These tools, whether it’s Amazon’s Alexa for general purposes or a specialized voice bot integrated into your site, offer hands-free shopping. Consider running a grocery store online where customers can ask their voice assistant to reorder their usual list of groceries.
Pros and Cons of Conversational Commerce in ECommerce Website Development
When integrated with eCommerce Website Development, consider conversational commerce a transformative tool.
Firstly, let’s talk about the benefits it offers.
The first benefit you can enjoy as an eCommerce brand is the reduction of cart abandonment. Conversational commerce allows you to engage customers via live chat or Messenger apps. You can send offers or timely notifications, thereby encouraging customers to complete their purchases. It positively influences your brand’s bottom line.
It’s a tool for converting potential leads. Customized messages through chatbots or live chat can present real-time promotions or solutions, thus driving more sales. Additionally, many consumers prefer messaging over calling, adding another layer of convenience.
Collecting data or user feedback is much more organic through this channel. Rather than relying on traditional web forms, gather customer insights through genuine conversations on live chat, enabling you to fine-tune your services.
If you are availing of eCommerce website development services, you should take advantage of the ability for cross-selling, upselling, and cross-selling. In this regard, conversational commerce integration can offer tailored product suggestions, multiplying current sales and profits.
Want to get your customer loyalty strategy right? Adding conversational commerce to your website is all you need. It makes the user interaction much more casual. Whether it’s offering promo coupons via chatbots or personalized assistance through voice assistants, the focus on customer satisfaction is visible. Thus, it establishes long-term relationships.
Now, let’s move towards the disadvantages.
Customers won’t find quick human assistance as it is an AI-powered solution. This may break a sense of emotional connection. Even the most advanced chatbot can’t replicate human empathy; failure here can impact customer satisfaction.
The integration of conversational shopping or commerce may take time and effort. Managing multiple channels, each with its features and updates, may seem overwhelming. This complexity can hinder adding this commerce into your current eCommerce setup.
You may face the concern of siloed data while incorporating it into eCommerce website development. When customer interactions span multiple platforms, data may get fragmented. This results in a disorganized CX.
How Can You Get Started with Conversational Commerce in ECommerce Website Development?
There is no doubt that conversational commerce has changed the shopping experience of buyers in the eCommerce landscape. But as a brand, what is the way forward to integrate such a dynamic solution?
Here’s the guided step for your convenience:
- Understand your business requirements
Let’s take a scenario where you want to add conversational commerce tools to your site. However, you are not aware of your business vision and goals. Can you initiate the integration? No. Right? So, identify the challenges your business and customers are facing. Aim to set achievable objectives, whether you want to improve user service or multiply sales. Prioritize these goals for strategic implementation.
- Do a thorough research
Set the benchmark and accordingly do your research. Also, you have to check how your competitor is using this solution. This will give a better clarity. In this step, you must consider the user’s opinion. Make a list of potential solutions, try out free trials, and analyze the pros and cons.
- Look for a partner
You may not feel confident about adding this conversational commerce on your own. So, searching for a reliable eCommerce website development company is all you need. On the other hand, an experienced team can decide when to add live chat or other messaging features per your business requirements.
- Don’t skip the steps of measuring success
This is the last step in getting your conversational commerce feature added to your site properly. For this, consider real-time metrics and check if you have achieved the goal you have been aiming for. This is more like the testing phase. Hence, don’t skip this step. This step can present you with the base to identify what’s going in your favor and spot areas of progress.
Conversation commerce, indeed, has revolutionized the spectrum of eCommerce website development. As already discussed, it lowers the cart abandonment rate and boosts the conversion of leads. Conversely, consider challenges or drawbacks as well. This can help you leverage the maximum benefits of this strategy.
But if you ask whether or not you should add conversational commerce to your eCommerce website development? The answer is ‘Yes’.