The impact of Conversational Marketing on brands
Have you ever forgotten to cancel a subscription or realized that you just got charged for that free trial you probably never used?
You rush to try to get your money back and go directly to the “Help/Contact” page. On the page, usually off to the side, is text box saying something like starting a conversation or live chat. These chatbots or conversational agents are programmed to simulate a conversation or interaction which you would normally have with a customer service representative. This is an example of conversational marketing.
Conversational marketing is one of the best marketing trends in 2020. Put simply, conversational marketing allows a real-time conversation between customers and companies. This tactic has been developed for the following reasons:
An estimate of 82% of customers want an immediate response to a question they have while on your site.
Customers want to be connected to companies at their own time and on their own terms.
Customers want to be able to navigate with ease through websites.
Basically, customers just want to find the information they are looking for quickly and easily.
Global research firm Gartner has recognized conversational marketing as an independent marketing category and also emphasizes that adopting a conversational strategy can help
“reduce friction, enable services, improve conversations and raise satisfaction”.
A few years ago when AI researchers first introduced the business world to chatbots, people didn’t think they would disrupt every-day business practices or even be useful. Today, an estimate of 80% of businesses are currently using chatbots to quickly interact with customers.
So why do people prefer to use this form of communication?
In a survey conducted by Drift, a leading conversational marketing and sales platform, participants were asked to select the benefits they associated with popular customer communication channels (See results below).
As seen on the graph, online chat earned the highest score in any single benefit category. With 50% of participants responding that the channel’s convenience is what makes it most appealing.
What are the benefits of implementing a conversational marketing strategy?
1. You are offering an easier and more convenient way for customers to engage with your brand.
2. You can gain valuable insights into customer behavior.
3. You are able to build deeper connections with your customers.
Fundamentally, marketing and sales have always consisted of conversations between buyers and sellers. With the introduction of conversational marketing, marketers and salespeople have been able to shift their focus back to a customer-centric approach and not focussing on blasting messages without listening to what leads and customers had to say.
