One such technology that has been revolutionizing the way businesses operate online is Artificial Intelligence (AI). From streamlining operations to enhancing customer experiences, AI is reshaping the e-commerce industry. In this article, we delve into the role of AI in e-commerce, its impact on business processes, and how it is elevating the customer journey.

AI in E-Commerce: A Game Changer

The integration of AI in e-commerce is a game-changing development that’s empowering businesses to make smarter decisions, optimize processes, and deliver personalized shopping experiences.

Let’s explore the significance of AI across different aspects of e-commerce.

Enhancing Customer Experiences with AI

• Elevating Personalization:

AI is redefining personalization in e-commerce by analyzing customer behaviors, preferences, and purchase history. This data is then used to create tailored product recommendations and marketing messages, resulting in a more engaging and relevant shopping experience.

Customers are more likely to convert when they feel that the platform understands and caters to their individual needs.

• AI-Driven Customer Support

AI-powered chatbots and virtual assistants are making customer support more efficient and effective. These AI-driven tools offer instant responses to customer inquiries, assisting them in real time.

This not only improves customer satisfaction but also reduces the workload on customer service teams, allowing them to focus on more complex issues.

Optimizing Operations

• Inventory Management and Demand Forecasting:

AI algorithms can analyze historical sales data, market trends, and external factors to accurately predict future demand.

This enables e-commerce businesses to optimize their inventory management, ensuring that they have the right products in stock at the right time. This reduces overstocking and understocking issues, leading to cost savings and improved customer satisfaction.

• Efficient Supply Chain Management:

AI is transforming supply chain management by optimizing routes, reducing transportation costs, and enhancing overall efficiency.

Machine learning algorithms can analyze vast amounts of data to identify the most efficient shipping methods and routes, ultimately speeding up delivery times and reducing operational expenses.

AI-Powered Marketing

• Data-Driven Marketing Strategies:

AI enables e-commerce businesses to develop data-driven marketing strategies. By analyzing customer data, AI can identify patterns, preferences, and trends, allowing businesses to create targeted and effective marketing campaigns that resonate with their audience.

• Predictive Analytics:

AI-powered predictive analytics assist e-commerce businesses in making informed decisions. These analytics forecast future trends, helping businesses anticipate market shifts, optimize product offerings, and tailor marketing efforts accordingly.

The Road Ahead for AI in E-Commerce

As AI continues to evolve, its potential impact on e-commerce is boundless. Here are some exciting possibilities for the future:

• Visual Search:

AI-powered visual search tools allow customers to find products using images, enhancing the search experience and potentially increasing conversions.

• Voice Commerce:

With the rise of smart speakers and voice assistants, AI-driven voice commerce is on the horizon, enabling customers to make purchases using natural language.

• Fraud Detection:

AI algorithms can analyze transaction data to detect fraudulent activities and protect both businesses and customers from security breaches.

• Dynamic Pricing:

AI can optimize pricing strategies based on real-time data, demand fluctuations, and competitor pricing, ensuring businesses remain competitive while maximizing profits.

Chat360: The Conversational AI Platform That Can Boost B2B E-Commerce Sales

The synergy between AI and e-commerce is reshaping the industry’s landscape, leading to enhanced customer experiences, streamlined operations, and data-driven decision-making.

From personalized recommendations to efficient supply chain management, AI is proving to be a valuable asset for businesses seeking growth and innovation in the digital marketplace.

As technology continues to advance, the e-commerce industry stands poised to leverage AI’s full potential, paving the way for a future where businesses and customers alike reap the benefits of this transformative technology.

Chat360 is a conversational AI platform that can help B2B e-commerce businesses in a variety of ways, including:

• Personalizing the customer experience:

Chat360 can be used to collect and analyze customer data to create personalized shopping experiences. For example, Chat360 can be used to provide targeted offers and discounts.

• Improving customer support:

Chat360 can be used to provide 24/7 customer support, which can help businesses to improve customer satisfaction and loyalty. Chat360 can also be used to answer customer questions and resolve issues quickly and efficiently.

• Automating tasks:

Chat360 can be used to automate tasks such as order tracking and customer onboarding, which can free up human resources for more important tasks.

• Generating leads:

Chat360 can be used to generate leads by qualifying potential customers and providing them with information about products and services.

• Promoting products and services:

Chat360 can be used to promote products and services by sending personalized messages to customers and providing them with discounts and coupons.

In addition to these benefits, Chat360 can also help B2B e-commerce businesses to:

• Improve communication with customers:

Chat360 can be used to create a more direct and personal communication channel with customers. This can help businesses to build stronger relationships with their customers and to resolve issues more quickly.

• Increase sales:

Chat360 can be used to increase sales by providing customers with a more personalized and convenient shopping experience. Chat360 can also be used to generate leads and to promote products and services.

• Reduce costs:

Chat360 can help businesses to reduce costs by automating tasks and by improving customer satisfaction. This can lead to lower customer support costs and to increased sales.

Overall, Chat360 is a powerful tool that can help B2B e-commerce businesses to improve their customer experience, increase sales, and reduce costs.

The post The Future of E-Commerce: Harnessing the Power of AI appeared first on Chat360.

Why is retention rate Important

Existing customers tend to buy more which is more profitable than investing time and money in someone whose actions are unpredictable. Instead, you can nurture the existing one. Getting new clients proves more expensive than retaining the existing ones. Research done by Frederick Reichheld shows that increasing customer retention rates by 5% increases profit by 25% to 95%. Upselling new products to loyal customers is much easier and more profitable rather than focusing on selling new products to new clients. According to Forrester’s research analyst, product recommendations like upsell and cross-sell make up 10-30% of e-commerce revenue. Satisfied customers are the loyal ones, they’re most likely to refer your product to their family and friends. So there you have, new customers at no cost.

Challenges faced by e-commerce stores

Here are some of the challenges that e-commerce stores face while retaining customers.

• Poor support is a major reason for customers to switch brands. Better customer service creates positive, emotional experiences that drive customer loyalty. However, poor service fails to connect with customers, Leading to low corporate morale, damage to reputation, and client loss.
• Lack of engagement results in the failure of e-commerce stores to connect with customers. Customers will forget about your brand at the time of decision-making Since no interaction took place.
• Lack of data and insight hinders brands to understand and anticipate customer behavior. As a result, they fail to provide personalized service and products.
• Customers’ tastes and preferences change constantly. Failing to adapt to the change will fail to satisfy customer needs. As a result, they leave.

Strategies to increase retention rate

A. Understanding customer behavior 

Understanding the customers’ behavior and intent behind customers’ purchases helps businesses adapt their offerings to better suit the needs and requirements of their target market.  It creates a relationship of understanding and trust which ultimately increases brand loyalty. It helps build a rapport with your audiences and helps retain a customer base. Hence, brands can make better decisions regarding their products and services.

1. Analyzing customer data and feedback

Here, customer data is collected, gathered, and analyzed across a wide range of channels. Having insights like page views and time on the page is a great way of identifying customer behavior. and that along with customer feedback, helps your team focus on an effective strategy to offer a flawless customer experience.

2. Identifying the common reason for customer churn

Identifying the root cause behind customer churn is crucial for businesses to take timely measures. Your whole strategy and investment might go in vain if you don’t know why your customer is leaving.  There can be many reasons for that, you might have been going after the wrong customers, it can be poor customer support, there might be bugs or glitches, the pricing may not be right, and more. Make a concentrated effort to understand the reason, and start working on it before it’s too late.

3. Mapping customer journey

Mapping the customer journey involves studying the customer’s interaction with the brand right from the awareness stage, through to post-purchase. It helps evaluate the taste and preferences of the customer, their pain point, and more. And then making use of those valuable inputs to improve the customer experience.

B. Improve the shopping experience 

A positive shopping experience improves customer satisfaction and loyalty, leading to repeat business. The satisfied customers also suggest the product and services to their known circle through word of mouth. So there are many advantages to an improved shopping experience. Here are a few tips on how you can improve the shopping experience.

1. Streamlining the checkout process

Customers get frustrated when they have to fill out various forms, or insert their personal and billing information. They’ll just leave your site when the checkout process is time-consuming and complicated. A simple and easy-to-navigate checkout process smoothens customers’ purchase journey. It improves the overall shopping experience and increases conversions by minimizing the likelihood of cart abandonment.

2. Offering personalization options

The tastes and preferences of every customer are different. There isn’t anything like one size fits all. Personalization option helps brands create tailored messages for customers as per their needs and requirements and engage them with the same to act upon it. With the help of automation tools like a chatbot, you can collect customers’ data and offer personalized experiences during their shopping journey. It assists them to make better decisions.

3. Enhancing the mobile shopping experience

Customers already spend a lot of time browsing through apps on their phones. They browse product and service information via mobile devices. They use mobile phones for the whole shopping journey. Therefore you must pay more attention to improving customers’ mobile shopping experience.

4. Providing excellent customer service

Excellent customer service not just helps in retaining customers, but also helps in increasing sales. You must offer information that customers are looking for during their online purchases. Customers are most likely to abandon the online purchase if they don’t find the information they’re looking for. So, assist customers in every step of their buying journey. It will help recoup customer acquisition costs. Happy customers serve as case studies, they also provide testimonials and positive reviews.

C. Incentivizing customer loyalty 

Loyalty incentives are an interesting tactic to keep your customers hooked. Here, brands offer various types of rewards, discounts, and offers to retain existing customers. Here are a few tactics on how you can incentivize customer loyalty.

1. Implementing a reward program

A reward program is a strategy to incentivize and reward loyal customers. Rewards are given to customers for certain actions like purchasing a certain amount, leaving feedback, referring to friends, etc. The rewards can be in the form of discounts, freebies, gift vouchers, etc. It’s an effective strategy to retain customers.

2. Offering exclusive promotions and discounts

Incentivizing loyal customers with special deals and discounts creates a sense of exclusivity and encourages customers to continue doing business with your brand. It is done by sending personalized offers to customers based on their purchase history and preferences or by offering early access to new products and services.

3. Encouraging customer referrals

It’s a way of incentivizing customers with rewards who refer your brand to other people. It’s an easy and effective way to retain existing customers, as well as attract new ones. Happy customers aren’t hesitant to refer to your product and services.

D. Utilizing technology

Technology makes it easier to gather customers’ data and understand them better. Automating customer service helps create targeted marketing campaigns customized to specific customers’ needs. You can utilize technology the best way by:

1. Adopting AI and machine learning

AI and machine learning can be used to analyze customer behavior patterns, predict customer action, personalize communication, and automate customer service. They keep a record of customers’ actions as data and then use that information to evaluate customers purchasing trends, inclinations, and behavior. Hence, adopting Al and ML helps gain a deeper understanding of the reasons for customer churn, construct a predictive model of customer churn, and maintain good client relationships.

2. Implement a chatbot for customer service

eCommerce Chatbot provides round-the-clock support to customers. It responds to customers’ queries, offers solutions to their concerns, and provides useful information about products and services. AI chatbots are powered by NLP and Machine learning, which makes them capable of understanding human language and emotions and responding naturally. It provides a great customer experience.

3. Marketing automation

Marketing automation automates repetitive marketing tasks like email marketing, social media management, lead nurturing, and advertising. It saves time and resources, allowing marketers to focus on complex tasks like creating strategy, content making, etc. It improves the efficiency and effectiveness of customer engagement by streamlining marketing efforts.

Conclusion

If there’s any better way to ensure the growth and profitability of your business without having to bear the pain of new customer acquisition, it’s retaining your existing customers.  Nurture your already existing customers and pay good attention to them. Follow the strategies mentioned above and keep them hooked.

The post How can an e-commerce online shopping website increase the retention rate? appeared first on Chat360.

Add to cart does not necessarily guarantee a purchase. Cart abandonment is a common existence in the E-commerce business. The lesser it is, the more the business profits.

What Is Shopping Cart Abandonment And What Does It Indicate?

Online shopping cart abandonment is the act of adding a product (or several) to a shopping cart, but later leaving the page without checking out. One of the important performance metrics for an E-Commerce company is the rate of shopping cart abandonment. The percentage of these instances is shown by the shopping cart abandonment rate.

The number of shopping carts generated indicates how interested customers are in the goods and services you provide. Users are drawn in by your marketing efforts and enjoy the look and feel of your website. They are about to submit an order. However, something prompts them to reconsider and depart just before they become clients.

A high rate of abandonment may indicate issues customers encounter during the customer journey. These may include usability problems, software bugs, ambiguous layouts, etc. You can increase sales and client retention by addressing the issues that are causing them dissatisfaction.

How To Calculate Cart Abandonment Rate

Divide the total number of completed purchases by the number of carts created to calculate the cart abandonment rate. Subtract one and multiply by 100.

For example, if you create 200 carts and complete 100 purchases, your cart abandonment rate is 50%.

Healthy Abandonment Rate

Owners of e-commerce businesses are interested in learning what constitutes a good and bad shopping cart abandonment rate. Understanding that everything depends on the specifics and scope of your business, the competition, your online goals, etc. will help you get a precise response.

The rate of online shopping cart abandonment that E-commerce stores experience on average is another factor. Therefore, if your abandonment rate is between 67% and 70%, you are in line with the general trend.

To end up at a 0% cart abandonment rate is impossible. Cart abandonment is sometimes correlated with service quality. Some customers might abandon their shopping carts for no other reason than that they use them to compare prices, estimate the cost of their wish list, and other factors that are beyond their control.

There are many factors, though, that you can influence. There’s never a “too low” shopping cart abandonment rate because there’s always room for improvement.

Payment Concerns

Problem: Understandably, most customers are extremely wary of making purchases online. They won’t complete their purchase if they don’t feel secure giving their personal information, or if they worry that their payment information won’t be handled securely.

Online buyers want to finish their transactions using the payment option that best suits their needs. Some customers may be content with the default selection, but others may decide to leave your site entirely if you don’t accept their preferred payment method, whether it’s Paytm, Apple Pay, or a buy now, pay later option.

Bottom Line: Payment options can make or break a purchase. Offering options allows retailers to appeal to a wide range of customer preferences.

Reduction solution: Although debit and credit card payments remain popular, several alternatives have recently emerged. Furthermore, payment habits differ greatly between markets. Offering a single payment method or too few options can create unnecessary barriers between you and your customers. Shoppers today have a variety of payment options, including direct bank transfers, digital wallets, and credit cards.

Offering support for the most popular payment methods, particularly those most commonly used by your target audience, helps ensure that you are not losing good customers. Allowing customers to purchase using customer financing options will be appropriate for products with particularly high AOV (average order value).

Trust seals from well-known brands can boost customer confidence on a marketing website, especially for users who might not be familiar with your brand. You can portray trust marks which in turn ensure potential customers are not concerned regarding payment and feel secure.

Sparse Offers And Unacceptable Extra Charges

Problem: Customers can quickly compare their options when shopping online because of the internet and the growth of mobile commerce. Deal-seeking customers frequently add items to carts before making their final purchase from a different store with a better offer.

Also, there is a case of hefty shipping charges being applied. The shock of unanticipated costs typically hits a customer after they’ve entered their shipping information and discover they’ve been hit with unforeseen fees. Once they see those fees, customers might reconsider their purchase and, if their expectations aren’t met, they might even abandon their cart.

Bottom Line: Everyone enjoys learning that a price has been reduced. Nobody enjoys learning that the price has risen. Businesses would be wise to surprise their customers with limited-time offers.

Reduction Solution: A retailer can’t always avoid tacking on extra fees. For instance, taxes are legally required to be paid, and failing to do so will result in a loss of your own funds. The best approach is to upfront disclose any additional costs to a client. One thing you can always do is come up with eye-catching offers regularly to make up for extra fees of any sort. Offers attract customers to your site and if they find it eye-catchy indeed, they are most likely to purchase it.

Most people will abandon their carts if they reach the end of the checkout process only to discover that an additional shipping fee has been added. Shipping fees for any product can sometimes exceed the cost of the product itself. Why would a savvy online shopper choose that store? You can either mention free shipping on your product pages or send an abandoned cart email to customers who have abandoned your cart. If you have a shipping policy, make sure to include it on your website. It is critical to be completely transparent about what customers must do to qualify for free shipping.

Technical Performance Glitches

Problem: A glitchy or unstable e-commerce site can make customers lose faith in your checkout process or just give up and leave out of frustration. After an unexpected crash or lengthy page load, customers are less likely to enter their payment information for fear of being charged twice for the purchase or having their payment failed.

For instance, users who access your website through a mobile device might run into issues, whereas users who access it through a laptop might not. However, regardless of the device, the typical client response to a website that has crashed is to just leave it. Additionally, users leave the page if it takes longer than three seconds to load.

Bottom Line: Customers are more likely to purchase in a site or medium that offers stability and has a very good processing speed.

Reduction Solution: The last thing you want is for a customer to wonder if their order was successful. A fast-loading page can meet your customers’ desire for a quick checkout experience. Customers will be happier, and they will be more likely to purchase additional products from your website because they will not have to wait as long.

Collecting client feedback and conducting client research is one means of understanding technical glitches and solving them. Reach out to your customers and inquire about their shopping experience. This will allow you to better understand the data you’ve collected and improve your eCommerce store as a result.

You can also enhance the user journey and ensure a faster experience with intuitive and simple UI and UX e-commerce design. Make sure the appearance of your website encourages buyers to place an order. Avoid jarring color schemes and seek out reliable UI/UX design services to express your company’s identity in the digital realm.

Frustrating Checkout Procedures

Problem: Shoppers want to complete their purchases as quickly and easily as possible. A lengthy checkout process with multiple forms fills and steps can cause friction and slow down your customers. This not only detracts from the current checkout experience on your site, but it may also permanently discourage them from ever purchasing on your site again.

Bottom Line: From a business point of view, you have only a matter of seconds to convince and guide customers to make a purchase.

Reduction Solution: A sensible solution would be to offer guest checkout. Making customers register and create an account before entering the checkout process can be a barrier to purchase. It appears to be an extra effort for shoppers, and as a result, it can be a point at which customers decide it’s too much trouble to proceed with the purchase. When not absolutely necessary, it makes sense to avoid this barrier and instead provide guest checkout options. Optimizing your checkout pages for a faster and simpler checkout process can help improve revenue generation significantly.

Strive To Improve Purchase Journey!

Even though each customer segment is unique, many consumers share some of the same preferences and buying habits. It is undeniable that limited payment options and frustrating checkout procedures increase the likelihood that customers will back out of their purchases.

Online retailers must continue to prioritize providing excellent purchase experiences if they want to succeed in today’s experience-driven world and turn browsers into paying customers.

The post Cart Abandonment Rate & How To Reduce It appeared first on Chat360.

When it comes to positioning a business brand as an authority and building a loyal online community, two things are a must for any business—

1. The ability to effectively connect with their audience.
2. A systemized way to offer them a personalized experience.

And this is where D2C eCommerce brands face the biggest challenge.

Remember— 86% of customers are willing to pay more if they give an excellent customer experience and convenience.

And a WhatsApp chatbot helps businesses precisely with the same.

Let’s explore the benefits of WhatsApp chatbots and why a D2C eCommerce business needs the same.

Why Should Your D2C eCommerce Business Consider a Whatsapp Chatbot?

There are numerous reasons why a business should consider a WhatsApp chatbot; here are some of them:

• With 1.2 billion monthly users, WhatsApp is already a familiar platform to customers, so businesses don’t have to force their customers to familiarize themselves with a new platform.
• WhatsApp’s global presence enables businesses to connect with customers irrespective of location.
• WhatsApp is a two-way communication street that enables customers to have real-time conversations with companies, increasing trust and credibility.
• Whether a business wants to share its latest offers with its customers or remind them about its abandoned cart, it can automate all these through the WhatsApp chatbot.

Benefits of Using a Whatsapp Chatbot for Your D2C E-commerce Business

1. Generate Leads

With WhatsApp chatbot, businesses can create a seamless lead generation process; here’s how—

• Once a customer starts chatting with a business account, the WhatsApp chatbot automatically collects personal details such as name and phone number.
• Businesses can use the click-to-WhatsApp approach in their paid campaigns so that whenever customers click on their Google or Facebook ads, they’ll be directed to a WhatsApp chat invitation to engage with them better.
• By incorporating a WhatsApp chatbot into the website, companies can invite their visitors to one-on-one conversations.
• WhatsApp chatbot also provides businesses with a product or category button. With this, customers can sign up for the notifications/updates categories they want to get notified. For example, the product they wish to buy is back in stock.

2. Build Your Own Whatsapp Bot Without Any Coding

3. Customer Acquisition

WhatsApp chatbots are intuitive. That means businesses can collect customer behavioral data using the WhatsApp chatbot and send personalized recommendations in return.

WhatsApp chatbots encourage customer acquisition by engaging with them and providing them with the best solutions.

4. Customer Retention

WhatsApp chatbots bring convenience, personalization, and speed to customer-business communication across all the steps of the customer journey, which ultimately helps in strengthening customer retention.

5. Reduce the Abandoned Cart Rate

WhatsApp chatbots monitor abandoned carts and re-engage with the customers to make a transaction. You can use this feature to send messages to existing customers that remind them about their purchase, offer discount codes or coupons based on their previous interactions with your brand,

6. Automate Customer Support

With WhatsApp chatbots, businesses can reply to their customers even if they message during non-business hours to keep them updated about their queries. A WhatsApp marketing bot can act as a virtual assistant that can help you with most of your business and personal tasks. The bot can automate customer support and save you time.

Use Cases of WhatsApp Bot in D2C eCommerce

1. Sell on WhatsApp

An E-commerce WhatsApp chatbot is a great way to sell products without taking the customers to another platform. Because the customers can choose products and place orders directly through the WhatsApp chatbot. It can also increase sales by enabling 24/7 customer engagement without hiring more employees.

2. Track Orders

Whether a customer wants to know about their product shipment or if they want to track their orders, WhatsApp chatbots help them by answering their queries instantly.

It also enables the customers to reschedule or change the delivery addresses by replying to the chat.

3. Show Recommended Products

WhatsApp chatbots track customers’ preferences and recommend products to purchase.

Since these recommendations are highly personalized based on customer behavior, they’re more likely to buy— resulting in increased upsell and cross-sell opportunities.

4. Refund Process

Managing refunds is one of the most crucial aspects of any E-commerce business. If not done correctly, it can cost businesses customers and sales.

WhatsApp chatbots allow customers to file a refund request within a few clicks. Not only this, it helps businesses identify the reason for the refund, schedule pick-up times quickly, and ensure their customer has a hassle-free experience.

5. Collect Customer Feedback

80% of customers are likelier to do business with a company if it offers great experiences.

And to provide a great experience to customers, companies need to collect their feedback to understand what’s working for them and where they need to make some tweaks.

As WhatsApp chatbots save customers’ data and track their behavior, it approaches the customers at the right time when they’re more likely to see the message.

And it encourages them to share photos or videos of them using products and send them across.

Once the WhatsApp chatbot receives the feedback, businesses can share the positive ones on social media to build trust, get more customers, and start working on the negative ones.

6. Customer Query Resolution

Customers want instant support from companies, but it’s quite challenging to be available 24/7.

Now, if businesses don’t solve their customers’ queries instantly or in a given period, they’ll return from the site without purchasing.

But the WhatsApp chatbot is here to rescue you. A WhatsApp chatbot enables businesses to automate FAQs, create custom flows for different conversation stages, and create an automatic cross-selling flow without human intervention.

7. Offer Discounts & Promotions

Everyone loves discounts, so the customers do. WhatsApp chatbot offers them discounts or exciting offers based on their purchasing habits to increase the company’s sales. Businesses can target customers with personalized offers & discounts based on their purchase history.

8. Set up Loyalty Programs

Running a successful loyalty program is challenging. One-third of signed members quit loyalty programs and never redeem their earned advantages.

A WhatsApp chatbot can help fix this issue by sending reward reminders and messages to encourage redemption.

9. Referral Programs

Customers acquired through referrals have a 37% higher retention rate, indicating that businesses should have referral programs.

And an E-commerce WhatsApp chatbot makes running referral programs easier.

WhatsApp chatbots send personalized messages to the company’s existing customers, encouraging them to share their experiences and product catalogs with someone they know. This makes sense, given that 78% of people share their favorite recent experiences with people they know at least once per week.

FAQs:

1. How Does Whatsapp Marketing Help E-commerce Businesses?

WhatsApp marketing helps businesses build a loyal and engaged customer base online by providing benefits like tracking orders, providing 24/7 customer support, resolving queries, and collecting feedback.

2. When Should We Integrate the Whatsapp Chatbot Into Our D2C eCommerce Business?

A WhatsApp chatbot is an AI-powered virtual assistant solution that can be integrated into an E-commerce business at any stage.

3. Can I Integrate Whatsapp Into My Website??

Yes, you can integrate a WhatsApp bot into your website via live chat, allowing your customers to get their queries solved instantly.

4. How to Create a Whatsapp Bot in 2023?

Here’s all you need to do to create a WhatsApp chatbot:

A step-by-step guide to creating a WhatsApp bot without any coding.

Step 01. Create an account with chat360

Step 02. Fulfill the requirements to deploy chatbots on WhatsApp

Step 03. Setup and connect your WhatsApp business account on Chat360

Step 04. Configure WhatsApp

Step 05. Test your WhatsApp chatbot.

The post How to Grow your D2C E-commerce Business with Whatsapp Bot? appeared first on Chat360.

What is a chatbot for eCommerce?

Gone are those days when E-commerce businesses had to invest millions and millions in manual customer support operations. With the boom of AI-powered support tools, E-commerce businesses across the globe have now started to adopt AI Chatbots for various purposes like digitization, streamlining internal communications, providing conversational support to their customers, etc.

Chatbots that are curated or explicitly developed to handle operations in E-commerce businesses are called E-commerce bots or E-commerce chatbots or chatbots for eCommerce. Among the various benefits AI chatbots provide, the conversational support that bots facilitate is valued the most by E-commerce businesses. Artificial intelligence enables these chatbots to provide a human-like interaction experience to customers, making them feel valued and heard by the organizations they chose to do business with.

How to build a chatbot for eCommerce?

Building a Chatbot has never been easier, thanks to low-code or no-code solutions. Businesses can now leverage the advantage that low-code no-code solutions have to offer and quickly develop bots in no time and with less or no IT involvement. Chatbots can be developed and customized as per the particular needs of E-commerce businesses. Before heading to the developing stage, it is essential to identify what features your chatbots need to have. Here are a few Must-have features for every E-commerce Chatbot-

• Self-service portals
• Omnichannel support facility
• Access to a Knowledge Base that holds customer-related data
• NPL or Natural language Processing
• Machine learning capabilities

Things to consider before building a Chatbot for eCommerce

• Where exactly will the chatbot be put down or located?
• What other websites or applications can be connected to the E-commerce website? Ex- Home app, Company Website, etc.
• How many customer channels do you want to integrate? Ex-Facebook, Instagram, etc.
• How many use cases do the E-commerce business need to integrate and automate with the Chatbot?

Important Chatbot stats you should know –

• About 34% of online retail store customers accept AI chatbots, more so than in any other industry, making it a must-have for E-commerce businesses. (Source: Invesp)
• Chatbot E-commerce transactions are projected to amount to more than $100 billion by 2023 (Source – Juniper Research)
• Using abandoned cart chatbots alongside Messenger boosts E-commerce revenue by 7-25%. (Source – Chatbots Magazine)
• Chatbots can save businesses as much as 30% on customer support costs. (Source: IBM)
• Chatbots are predicted to save businesses 2.5 billion hours by 2023. (Source – Juniper Research)
• 54% of customers report companies to need to transform how they engage with them. (Salesforce)
• 80% of consumers who have engaged with a chatbot report it as a positive customer experience. (Uberall)
• Nearly one-quarter (22%) of respondents said they already trust chatbot recommendations for product purchases. (Cognizant)
• Business leaders claim chatbots have increased sales by 67% on average (Forbes).

Why your E-commerce business needs an AI Chatbot

Intelligent chatbots for eCommerce enable smooth operations and, at the same time, keep up with efficient workflows. Below are a few benefits of E-commerce chatbots.

They are available 24/7

Customers across the globe expect to receive immediate assistance during an emergency. Since Artificially Intelligent chatbots are not limited to office hours, they can provide and cater to customers’ needs around the clock. This not only adds to a positive brand experience but also helps improve customer satisfaction levels.

Chatbot for E-commerce is cost-effective

E-commerce chatbots do not require maintenance, monthly pay, etc, as they are only a one-time investment. They do an excellent job of not burning a hole in the budget. Chatbots make it easy for E-commerce businesses to drastically cut down on operational costs and customer support costs. In addition to cost-cutting, they also facilitate low-cost customer acquisition.

They facilitate effective lead generation

Catching hold of leads or effectively generating prospects is essential for any business. Businesses tend to spend a considerable share of profits on lead-generation processes alone. Having an E-commerce chatbot can not only facilitate effective lead generation through keyword tagging, but since it is a one-time investment, it can also be a financially savvy move. From significantly cutting down costs to generating leads that are much more likely to convert, chatbots can be of immense help.

They provide quick customer support

If there is one thing that customers respect, then that is their own time. Delayed remediation and slow customer support assistance can irritate customers and might also lead to lower customer retention levels. A study by Oracle states that about 69% of customers prefer intelligent bots because of their ability to provide immediate responses. Unlike traditional customer service, Intelligent chatbots are able to tackle a vast number of customer tickets within a matter of minutes, making the remediation process quick and efficient.

According to a report by Juniper Research, Chatbots are predicted to save businesses $ 8 billion by 2022. The need for chatbots in the E-commerce industry has now come to an all-time high. E-commerce chatbots like that of Chat360 give E-commerce businesses a competitive advantage and help them provide their customers with the best customer service experience. To learn more about E-commerce chatbots, click here to book a demo.

Further, read:

How to Grow your D2C E-commerce Business with Whatsapp Bot?

How To Setup Chatbot On Shopify E-Commerce Website?

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Businesses are embracing transformative technologies, shifting towards eCommerce to meet the growing demands for convenience. For any eCommerce venture, the key to success lies in effective lead generation and conversion strategies. The significance of generating and nurturing ideal leads cannot be overstated, as it not only impacts onboarding and retention but also plays a pivotal role in boosting overall revenue.

The Evolving eCommerce Landscape

As businesses pivot to eCommerce, the competitive landscape intensifies. The abundance of options available to target audiences for similar products and services makes lead generation a critical aspect of survival in this cutthroat environment. Identifying, tracking, and nurturing the right leads becomes paramount for staying relevant and thriving.

Fortunately, the advent of automated lead generation tools, such as AI Chatbots and SEO Marketing, has alleviated concerns about ineffective lead generation for eCommerce businesses. Leveraging these tools can significantly enhance lead generation capabilities, ensuring businesses reach their target audience with precision.

AI Trends for Lead Generation in Ecommerce 2024

In 2024, Artificial Intelligence transforms eCommerce lead generation. Explore predictive analytics, personalized experiences, conversational AI, and more, as businesses leverage cutting-edge technology for unprecedented efficiency and engagement. 

1. Predictive Analytics: AI employs predictive analytics to forecast trends and identify potential leads, optimizing marketing efforts and resource allocation.
2. Personalization: Machine learning algorithms use vast datasets to tailor product recommendations based on individual preferences, browsing history, and purchase patterns, enhancing the personalized shopping experience.
3. Conversational AI: Chatbots and virtual assistants powered by natural language processing engage users in real-time, providing instant support and gathering valuable insights for lead qualification.
4. Automation: AI-driven automation simplifies mundane tasks, allowing human resources to focus on strategic aspects of lead generation and customer relationship management.
5. Voice Commerce Integration: The seamless integration of voice commerce into eCommerce platforms enables hands-free and efficient shopping experiences, expanding avenues for lead generation.
6. Real-time Customer Interaction: AI facilitates real-time customer interactions, improving engagement and streamlining the lead nurturing process through responsive chat interfaces.
7. Efficient Resource Utilization: Predictive power minimizes resource wastage, ensuring that marketing efforts are directed toward the most promising leads, maximizing efficiency.
8. Hands-Free Shopping: Voice-enabled search and transactions offer a hands-free shopping experience, contributing to the evolution of lead generation strategies in eCommerce.

Quick stats of lead generation for eCommerce

• About 53% of marketers spend at least half of their budget on lead generation.
  (Source: BrightTALK)
• Around 80% of marketers believe marketing automation generates more leads.
  (Source: APSIS)
• 37% of marketers stated that generating high-quality leads was one of their biggest challenges. (Source: Ruler Analytics)
• 31% of marketers stated that proving ROI was one of their biggest challenges. (Source: Ruler Analytics)
• 91% of marketers say that lead generation is their most important goal. (Source: Ruler Analytics)
• Leads are 9x more likely to convert when businesses follow up within 5 minutes.
  (Source: Ziff Davis)
• 63% of leads who inquire about your business won’t convert for at least 3 months.
  (Source: Marketing Donut)

How Chat360 is helping eCommerce businesses with lead generation

According to a report by Business Insider, the AI chatbot or chat application market size is projected to grow from $2.6 billion in 2019 to $9.4 billion by 2024. AI chatbots have now become the need of the hour. They can not only help identify potential customers for a brand, but they can also help businesses provide the best customer service assistance.

A report by Statista stated that about 3 billion people around the globe rely on phone-based messaging applications to connect and communicate with one another. With 2 billion active users, WhatsApp has now become the most used messaging platform. Keeping the need for effective lead generation, Chat360 has proven to generate 20% more leads for leading industries. Along with that, Chat360 also has a track record of reducing Cost Per Lead by up to 30%. The WhatsApp chatbot enables businesses to identify potential customers through its intelligently programmed artificial intelligence.

Identifying and nurturing the ideal prospect or consumer can be challenging. eCommerce WhatsApp chatbots can not only help businesses step up their lead generation game but can also help them nurture leads into loyal customers. To learn more about Chat360’s lead-generating WhatsApp chatbot, click here to book a demo!

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So far, artificially intelligent chatbots have been among the few best inventions to grace the 21st century’s customer support operations. As per a report by Statista, about 64% of businesses even believe that chatbots will allow them to deliver a more customized customer support experience. From helping companies provide personalized support to making the ticket remediation process quicker and smoother, AI Chatbots have made numerous improvements, which is true for WhatsApp chatbots.

Artificially intelligent WhatsApp Chatbots have become the need of the hour for businesses, especially in the E-commerce sector. Since WhatsApp has become one of the most loved and frequently used platforms among all age groups, having a WhatsApp chatbot integrated benefits Ecommerce businesses hugely.

Quick stats of WhatsApp chatbots for eCommerce

• By 2023, over 70% of chatbots are estimated to be in retail.
  (Source – Juniper Research)
• Nearly one-quarter (22%) of respondents said they already trust chatbot recommendations for product purchases. (Source – Cognizant)
• Better bot experiences with more engaged audiences tend to get 80-90% response rates. While even the least favorable experiences are in the 35-40% range. (Source – Matt Barby)
• Business leaders claim chatbots raise their average sales by 67%. (Source – Forbes)
• Around 90% of brands register measurable improvement in complaint resolution thanks to chatbots (Source –
  Technology Review)
• Using conversational commerce to tackle abandoned carts, stores are increasing revenue by 7-25% (Source –
  Chatbots Magazine)
• 38% of consumers think brands should use chatbots for deals, coupons, and promotions. (Source –
  Uberall)
• 58% of American consumers will switch companies because of poor customer service. (Source –
  Microsoft)

Here are 10 benefits of having a WhatsApp bot for your Ecommerce business

• Chatbots help you easily keep track of the customer journey.
• They enable smooth customer data collection.
• WhatsApp Chatbots help you increase eCommerce customer retention rates.
• Significantly Improve customer onboarding levels.
• Chatbots allow customers to reach out to businesses from their preferred channels.
• They help automate the ticket remediation process.
• Bots improve first-call resolution rates.
• Make it possible for E-Commerce businesses to provide customer assistance 24/7.
• Help Ecommerce businesses significantly cut down on customer support operating costs.
• Help businesses remind customers about abandoned shopping carts.

Related: Check out WhatsApp Chatbot Features

Major use cases of WhatsApp chatbots for Ecommerce

Chatbots provide Conversational support

No one can unsee the benefits of conversational support.WhatsApp chat boards are excellent conversational support tools that help customer service teams provide the best customer care experience. Conversation support increases customer satisfaction and helps businesses make a stronger connection with their consumers.

Faster ticket remediation

According to MIT Technology Review, about 90% of respondents report that they have recorded measurable improvements in the speed of complaint resolution, and over 80% have noted enhanced call volume processing using AI. AI-driven WhatsApp chatbots solve tickets efficiently and make the entire process much quicker.

Better and cheaper lead generation

If there is one thing businesses tend to spend a considerable sum is the lead generation process. Traditional lead generation costs Ecommerce businesses billions and billions every year. But with the integration of WhatsApp chatbots for eCommerce, other companies can generate leads through keyword tracking and do so in a much cheaper way.

Related: Importance of Lead Generation for Ecommerce Business

Retention and onboarding

Customers can feel like they have to put in too much effort if they have to contact businesses through websites or other not-so-convenient mediums. Using Whatsapp Chatbot for eCommerce businesses provides a hassle-free touchpoint to customers or leads wanting to reach out to them. This allows companies to have customer interactions on the customers’ preferred platforms but also helps them increase customer retention and onboarding.

Any time assistance

Customers love round-the-clock support. But providing round-the-clock customer assistance can burn a massive hole in the pocket of businesses everywhere. Thanks to AI-driven WhatsApp chatbots, this problem has a pocket-friendly solution. Unlike typical customer service costs, Whatsapp chatbots are a one-time investment requiring no maintenance.

Summing it up

With intelligent WhatsApp chatbots like Chat360 serving customers has never been easier. Give your eCommerce customer service teams the best tools they need to increase profitability today! To learn more about our WhatsApp chatbot, book a demo today!

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